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Property, Plant and Equipment (Tables) | 9 Months Ended
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Sep. 30, 2016
Components of Property, Plant and Equipment |
Property, plant and equipment consisted of the following: |  |  |  |  |  |  |  |
|  | As of September 30, |  |  | As of December 31, |
|  | 2016 |  |  | 2015 |
|  | (in millions) |
Land and land improvements |  | $ | 502 |  |  | $ | 495 |
Buildings and building improvements |  |  | 2,872 |  |  |  | 2,753 |
Machinery and equipment |  |  | 10,411 |  |  |  | 10,044 |
Construction in progress |  |  | 1,383 |  |  |  | 1,262 |
|  |  | 15,168 |  |  |  | 14,554 |
Accumulated depreciation |  |  | (6,703 | ) |  |  | (6,192 | )
Property, plant and equipment, net |  | $ | 8,465 |  |  | $ | 8,362 |
2014-2018 Restructuring Program |
Schedule of Restructuring and Implementation Costs | During the three and nine months ended September 30, 2016 and 2015 and since inception of the 2014-2018 Restructuring Program, we recorded restructuring and implementation costs within operating income as follows:
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America (1) |  |  | Corporate (2) |  |  | Total |
|  |  |  |  |  |  |  |  |  |  | (in millions) |  |  |  |  |  |  |  |  |  |
For the Three Months Ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring Costs |  | $ | 27 |  |  | $ | 10 |  |  | $ | 6 |  |  | $ | 69 |  |  | $ | 75 |  |  | $ | – |  |  | $ | 187 |
Implementation Costs |  |  | 15 |  |  |  | 7 |  |  |  | 2 |  |  |  | 45 |  |  |  | 30 |  |  |  | 15 |  |  |  | 114 |
Total |  | $ | 42 |  |  | $ | 17 |  |  | $ | 8 |  |  | $ | 114 |  |  | $ | 105 |  |  | $ | 15 |  |  | $ | 301 |
For the Nine Months Ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring Costs |  | $ | 71 |  |  | $ | 51 |  |  | $ | 37 |  |  | $ | 172 |  |  | $ | 144 |  |  | $ | 5 |  |  | $ | 480 |
Implementation Costs |  |  | 34 |  |  |  | 18 |  |  |  | 13 |  |  |  | 74 |  |  |  | 101 |  |  |  | 46 |  |  |  | 286 |
Total |  | $ | 105 |  |  | $ | 69 |  |  | $ | 50 |  |  | $ | 246 |  |  | $ | 245 |  |  | $ | 51 |  |  | $ | 766 |
For the Three Months Ended September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring Costs |  | $ | 30 |  |  | $ | 33 |  |  | $ | 7 |  |  | $ | 35 |  |  | $ | 39 |  |  | $ | 2 |  |  | $ | 146 |
Implementation Costs |  |  | 6 |  |  |  | 3 |  |  |  | 1 |  |  |  | 19 |  |  |  | 19 |  |  |  | 27 |  |  |  | 75 |
Total |  | $ | 36 |  |  | $ | 36 |  |  | $ | 8 |  |  | $ | 54 |  |  | $ | 58 |  |  | $ | 29 |  |  | $ | 221 |
For the Nine Months Ended September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring Costs |  | $ | 79 |  |  | $ | 78 |  |  | $ | 21 |  |  | $ | 190 |  |  | $ | 70 |  |  | $ | 4 |  |  | $ | 442 |
Implementation Costs |  |  | 27 |  |  |  | 12 |  |  |  | 7 |  |  |  | 47 |  |  |  | 40 |  |  |  | 52 |  |  |  | 185 |
Total |  | $ | 106 |  |  | $ | 90 |  |  | $ | 28 |  |  | $ | 237 |  |  | $ | 110 |  |  | $ | 56 |  |  | $ | 627 |
Total Project 2014-2016 (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring Costs |  | $ | 297 |  |  | $ | 199 |  |  | $ | 120 |  |  | $ | 491 |  |  | $ | 313 |  |  | $ | 45 |  |  | $ | 1,465 |
Implementation Costs |  |  | 89 |  |  |  | 47 |  |  |  | 28 |  |  |  | 184 |  |  |  | 177 |  |  |  | 159 |  |  |  | 684 |
Total |  | $ | 386 |  |  | $ | 246 |  |  | $ | 148 |  |  | $ | 675 |  |  | $ | 490 |  |  | $ | 204 |  |  | $ | 2,149 |
| (1) | During the nine months ended September 30, 2016, our North America region implementation costs included incremental 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 the fourth quarter of 2016.
| (2) | Includes adjustment for rounding.
| (3) | Includes all charges recorded since program inception on May 6, 2014 through September 30, 2016.
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 |  |  | For the Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
|  | (in millions) |
Latin America |  | $ | 3 |  |  | $ | 6 |  |  | $ | 16 |  |  | $ | 40 |
Asia Pacific |  |  | 6 |  |  |  | 18 |  |  |  | 24 |  |  |  | 46 |
EEMEA |  |  | 10 |  |  |  | 2 |  |  |  | 16 |  |  |  | 4 |
Europe |  |  | 42 |  |  |  | 14 |  |  |  | 77 |  |  |  | 51 |
North America |  |  | 59 |  |  |  | 16 |  |  |  | 98 |  |  |  | 50 |
Corporate |  |  | – |  |  |  | – |  |  |  | 2 |  |  |  | – |
Total non-cash asset write-downs |  | $ | 120 |  |  | $ | 56 |  |  | $ | 233 |  |  | $ | 191 |

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