Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2015

Components of Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of March 31,			As of December 31,
	2015			2014
	(in millions)

Land and land improvements	$	540		$	574
Buildings and building improvements		2,946			3,117
Machinery and equipment		11,107			11,737
Construction in progress		1,490			1,484

		16,083			16,912
Accumulated depreciation		(6,822	)		(7,085	)

Property, plant and equipment, net	$	9,261		$	9,827

Property Plant and Equipment | Asset Impairment Charges

Schedule of Restructuring and Implementation Costs

These charges were recorded in the consolidated statements of earnings within asset impairment and exit costs as follows:


	For the Three Months Ended
	March 31,
	2015		2014
	(in millions)

Latin America	$	13	$	–
Asia Pacific		19		–
EEMEA		–		–
Europe		25		1
North America		21		11

Total non-cash asset write-downs	$	78	$	12

2014-2018 Restructuring Program

Schedule of Restructuring and Implementation Costs

During 2015 and 2014, we recorded restructuring and implementation costs related to the 2014-2018 Restructuring Program within operating income as follows:


	Latin America		Asia Pacific		EEMEA		Europe		North America		Corporate⁽¹⁾		Total
							(in millions)

For the Three Months Ended March 31, 2015
Restructuring Costs	$	15	$	25	$	2	$	109	$	11	$	1	$	163
Implementation Costs		9		4		4		20		9		15		61

Total	$	24	$	29	$	6	$	129	$	20	$	16	$	224


Total Project 2014-2015 ⁽²⁾
Restructuring Costs	$	96	$	41	$	21	$	200	$	68	$	11	$	437
Implementation Costs		25		13		8		57		14		51		168

Total	$	121	$	54	$	29	$	257	$	82	$	62	$	605

(1)

Includes adjustment for rounding.

(2)

Includes all charges recorded since program inception on May 6, 2014 through March 31, 2015.

2012-2014 Restructuring Program

Schedule of Restructuring and Implementation Costs

During the three months ended March 31, 2014 and since inception of the 2012-2014 Restructuring Program, we recorded restructuring and implementation costs within operating income as follows:


	Latin America		Asia Pacific		EEMEA		Europe		North America		Corporate⁽¹⁾		Total
							(in millions)

For the Three Months Ended March 31, 2014
Restructuring Costs	$	1	$	–	$	4	$	17	$	20	$	–	$	42
Implementation Costs		–		–		1		15		7		1		24

Total	$	1	$	–	$	5	$	32	$	27	$	1	$	66


Total Project 2012-2014 ⁽²⁾
Restructuring Costs	$	36	$	36	$	69	$	249	$	337	$	2	$	729
Implementation Costs		3		6		4		88		65		4		170

Total	$	39	$	42	$	73	$	337	$	402	$	6	$	899

(1)

Includes adjustment for rounding.

(2)

Includes all charges recorded since program inception in 2012 through conclusion on December 31, 2014.