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Property, Plant and Equipment (Tables)

9 Months Ended

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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