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Property, Plant and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

		As of December 31,
		2015				2014
		(in millions)
Land and land improvements		$	495			$	574
Buildings and building improvements			2,753				3,117
Machinery and equipment			10,044				11,737
Construction in progress			1,262				1,484
			14,554				16,912
Accumulated depreciation			(6,192	)			(7,085	)
Property, plant and equipment, net		$	8,362			$	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 – Coffee Business Transactions, for additional information.

Capital expenditures of $1,514 million for the year ended December 31, 2015 exclude $322 million of accrued capital expenditures remaining unpaid at December 31, 2015 and include payment for $388 million of capital expenditures that were accrued and unpaid at December 31, 2014.

In connection with our restructuring programs, we recorded non-cash asset write-downs (including accelerated depreciation and asset impairments) of $264 million in 2015, $173 million in 2014 and $89 million in 2013 (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 Years Ended December 31,
		2015				2014				2013
		(in millions)
Latin America		$	46			$	14			$	–
Asia Pacific			80				23				2
EEMEA			9				16				–
Europe			64				37				27
North America			65				83				60
Total non-cash asset write-downs		$	264			$	173			$	89

X

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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