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Property, Plant and Equipment | 9 Months Ended
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Sep. 30, 2017
Property, Plant and Equipment |
Note 4. Property, Plant and Equipment Property, plant and equipment consisted of the following: |
|  | As of September 30, |  |  | As of December 31, |
|  | 2017 |  |  | 2016 |
|  | (in millions) |
Land and land improvements |  | $ | 469 |  |  | $ | 471 |
Buildings and building improvements |  |  | 2,971 |  |  |  | 2,801 |
Machinery and equipment |  |  | 11,179 |  |  |  | 10,302 |
Construction in progress |  |  | 1,014 |  |  |  | 1,113 |
|  |  | 15,633 |  |  |  | 14,687 |
Accumulated depreciation |  |  | (7,095 | ) |  |  | (6,458 | )
Property, plant and equipment, net |  | $ | 8,538 |  |  | $ | 8,229 |
For the nine months ended September 30, 2017, capital expenditures of $721 million excluded $220 million of accrued capital expenditures remaining unpaid at September 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 nine months ended September 30, 2016, capital expenditures of $909 million excluded $274 million of accrued capital expenditures remaining unpaid at September 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 $46 million in the three months and $164 million in the nine months ended September 30, 2017 and $120 million in the three months and $233 million in the nine months ended September 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 Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
|  | (in millions) |
Latin America |  | $ | 13 |  |  | $ | 3 |  |  | $ | 25 |  |  | $ | 16 |
AMEA |  |  | 20 |  |  |  | 9 |  |  |  | 62 |  |  |  | 30 |
Europe |  |  | 10 |  |  |  | 49 |  |  |  | 52 |  |  |  | 87 |
North America |  |  | 3 |  |  |  | 59 |  |  |  | 25 |  |  |  | 98 |
Corporate |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 2 |
Total non-cash asset write-downs |  | $ | 46 |  |  | $ | 120 |  |  | $ | 164 |  |  | $ | 233 |

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- 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 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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