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Property, Plant and Equipment

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment

Note 4.   Property, Plant and Equipment

Property, plant and equipment consisted of the following:

		As of March 31,				As of December 31,
		2017				2016
		(in millions)
Land and land improvements		$	476			$	471
Buildings and building improvements			2,885				2,801
Machinery and equipment			10,689				10,302
Construction in progress			1,025				1,113
			15,075				14,687
Accumulated depreciation			(6,698	)			(6,458	)
Property, plant and equipment, net		$	8,377			$	8,229

For the three months ended March 31, 2017, capital expenditures of $306 million exclude $186 million of accrued capital expenditures remaining unpaid at March 31, 2017 and include payment for a portion of the $343 million of capital expenditures that were accrued and unpaid at December 31, 2016. For the three months ended March 31, 2016, capital expenditures of $335 million exclude $211 million of accrued capital expenditures remaining unpaid at March 31, 2016 and include payment for $322 million of capital expenditures that were accrued and unpaid at December 31, 2015.

In connection with our restructuring program, we recorded non-cash asset write-downs (including accelerated depreciation and asset impairments) of $71 million in the three months ended March 31, 2017 and $52 million in the three months ended March 31, 2016 (see Note 6, 2014-2018 Restructuring Program). These charges were recorded in the condensed consolidated statements of earnings within asset impairment and exit costs and in the segment results as follows:

		For the Three Months Ended
		March 31,
		2017				2016
		(in millions)
Latin America		$	6			$	6
AMEA			12				9
Europe			37				21
North America			15				16
Corporate			1				—
Total non-cash asset write-downs		$	71			$	52

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=64827811&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=64862545&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

+ Details

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