Property, Plant and Equipment

6 Months Ended

Jun. 30, 2017

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of June 30,			As of December 31,
	2017			2016
	(in millions)

Land and land improvements	$	484		$	471
Buildings and building improvements		2,946			2,801
Machinery and equipment		10,920			10,302
Construction in progress		1,027			1,113

		15,377			14,687
Accumulated depreciation		(6,933	)		(6,458	)

Property, plant and equipment, net	$	8,444		$	8,229

For the six months ended June 30, 2017, capital expenditures of $488 million excluded $190 million of accrued capital expenditures remaining unpaid at June 30, 2017 and included payment for a portion of the $343 million of capital expenditures that were accrued and unpaid at December 31, 2016. For the six months ended June 30, 2016, capital expenditures of $604 million excluded $222 million of accrued capital expenditures remaining unpaid at June 30, 2016 and included 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 $47 million in the three months and $118 million in the six months ended June 30, 2017 and $61 million in the three months and $113 million in the six months ended June 30, 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				For the Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
	(in millions)

Latin America	$	6	$	8	$	12	$	13
AMEA		30		12		42		21
Europe		4		17		42		38
North America		7		22		22		39
Corporate		–		2		–		2

Total non-cash asset write-downs	$	47	$	61	$	118	$	113