Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2015

Components of 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

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				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

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 June 30, 2015
Restructuring Costs	$	32	$	18	$	11	$	48	$	19	$	7	$	135
Implementation Costs		14		7		3		6		13		4		47

Total	$	46	$	25	$	14	$	54	$	32	$	11	$	182


For the Six Months Ended June 30, 2015
Restructuring Costs	$	47	$	45	$	14	$	157	$	28	$	6	$	297
Implementation Costs		23		9		6		26		24		21		109

Total	$	70	$	54	$	20	$	183	$	52	$	27	$	406


For the Three and Six Months Ended June 30, 2014
Restructuring Costs	$	1	$	–	$	–	$	–	$	–	$	–	$	1
Implementation Costs		1		–		–		–		–		8		9

Total	$	2	$	–	$	–	$	–	$	–	$	8	$	10


Total Project 2014-2015 ⁽²⁾
Restructuring Costs	$	128	$	61	$	33	$	248	$	85	$	16	$	571
Implementation Costs		39		18		10		63		29		57		216

Total	$	167	$	79	$	43	$	311	$	114	$	73	$	787

(1)

Includes adjustment for rounding.

(2)

Includes all charges recorded since program inception on May 6, 2014 through June 30, 2015.

2012-2014 Restructuring Program

Schedule of Restructuring and Implementation Costs

During the three and six months ended June 30, 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 June 30, 2014
Restructuring Costs	$	3	$	1	$	8	$	26	$	16	$	–		$	54
Implementation Costs		1		–		1		13		6		(2	)		19

Total	$	4	$	1	$	9	$	39	$	22	$	(2	)	$	73


For the Six Months Ended June 30, 2014
Restructuring Costs	$	4	$	1	$	12	$	43	$	36	$	–		$	96
Implementation Costs		1		–		2		28		13		(1	)		43

Total	$	5	$	1	$	14	$	71	$	49	$	(1	)	$	139


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.