Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2016

Components of Property, Plant and Equipment

Property, plant and equipment consisted of the following:
	As of March 31,			As of December 31,
	2016			2015
	(in millions)

Land and land improvements	$	508		$	495
Buildings and building improvements		2,857			2,753
Machinery and equipment		10,382			10,044
Construction in progress		1,281			1,262

		15,028			14,554
Accumulated depreciation		(6,494	)		(6,192	)

Property, plant and equipment, net	$	8,534		$	8,362

Property Plant and Equipment | Asset impairment and exit costs

Schedule of Restructuring and Implementation Costs

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


	For the Three Months Ended
	March 31,
	2016		2015
	(in millions)

Latin America	$	6	$	13
Asia Pacific		8		19
EEMEA		3		–
Europe		19		25
North America		16		21

Total non-cash asset write-downs	$	52	$	78

2014-2018 Restructuring Program

Schedule of Restructuring and Implementation Costs

During the three months ended March 31, 2016 and 2015 and since inception of the 2014-2018 Restructuring Program, we recorded restructuring and implementation costs within operating income as follows:


	Latin America		Asia Pacific		EEMEA		Europe		North America⁽¹⁾		Corporate⁽²⁾		Total
							(in millions)

For the Three Months Ended March 31, 2016
Restructuring Costs	$	12	$	23	$	9	$	64	$	31	$	–	$	139
Implementation Costs		7		6		3		29		38		15		98

Total	$	19	$	29	$	12	$	93	$	69	$	15	$	237


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 2014-2016 ⁽³⁾
Restructuring Costs	$	238	$	172	$	91	$	383	$	202	$	38	$	1,124
Implementation Costs		62		34		19		139		112		130		496

Total	$	300	$	206	$	110	$	522	$	314	$	168	$	1,620

(1)

During the three months ended March 31, 2016, our North America region implementation costs included costs that we incurred related to re-negotiating collective bargaining agreements that expired at the end of February 2016 for eight U.S. facilities and related to executing business continuity plans for the North America business. We expect to incur additional costs related to these activities in future quarters of 2016.

(2)

Includes adjustment for rounding.

(3)

Includes all charges recorded since program inception on May 6, 2014 through March 31, 2016.