Property, Plant and Equipment

6 Months Ended

Jun. 30, 2015

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of June 30,			As of December 31,
	2015			2014
	(in millions)

Land and land improvements	$	520		$	574
Buildings and building improvements		2,743			3,117
Machinery and equipment		10,143			11,737
Construction in progress		1,478			1,484

		14,884			16,912
Accumulated depreciation		(6,156	)		(7,085	)

Property, plant and equipment, net	$	8,728		$	9,827

The net property, plant and equipment balance as of June 30, 2015 excludes our global coffee business net property, plant and equipment balance that was presented within noncurrent assets held for sale, ahead of our July 2, 2015 divestiture of our global coffee businesses. See Note 2, Divestitures and Acquisitions, for additional information.

In connection with our 2012-2014 Restructuring Program and 2014-2018 Restructuring Program, we recorded non-cash asset write-downs (including accelerated depreciation and asset impairments) of $57 million in the three months and $135 million in the six months ended June 30, 2015 and $14 million in the three months and $26 million in the six months ended June 30, 2014 (see Note 6, Restructuring Programs). These charges were recorded in the consolidated statements of earnings within asset impairment and exit costs as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
	(in millions)

Latin America	$	21	$	–	$	34	$	–
Asia Pacific		9		–		28		–
EEMEA		2		1		2		1
Europe		12		–		37		1
North America		13		13		34		24

Total non-cash asset write-downs	$	57	$	14	$	135	$	26