Property, Plant and Equipment

9 Months Ended

Sep. 30, 2015

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


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

Land and land improvements					$	502		$	574
Buildings and building improvements						2,731			3,117
Machinery and equipment						9,983			11,737
Construction in progress						1,572			1,484

						14,788			16,912
Accumulated depreciation						(6,224	)		(7,085	)

Property, plant and equipment, net					$	8,564		$	9,827

On July 2, 2015, we deconsolidated $751 million of net property, plant and equipment with the coffee business transactions. 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 $56 million in the three months and $191 million in the nine months ended September 30, 2015 and $48 million in the three months and $74 million in the nine months ended September 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 Nine Months Ended
	September 30,				September 30,
	2015		2014		2015			2014
	(in millions)

Latin America	$	6	$	–	$	40		$	–
Asia Pacific		18		18		46			18
EEMEA		2		4		4			5
Europe		14		13		51			14
North America		16		13		50			37

Total non-cash asset write-downs	$	56	$	48	$	191		$	74