Property, Plant and Equipment

12 Months Ended

Dec. 31, 2017

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of December 31,
	2017			2016
	(in millions)

Land and land improvements	$	458		$	471
Buildings and building improvements		2,979			2,801
Machinery and equipment		11,195			10,302
Construction in progress		1,048			1,113

		15,680			14,687
Accumulated depreciation		(7,003	)		(6,458	)

Property, plant and equipment, net	$	8,677		$	8,229

Capital expenditures as presented on the statement of cash flow were $1.0 billion, $1.2 billion and $1.5 billion for the years ending December 31, 2017, 2016 and 2015 and excluded $357 million, $343 million and $322 million for accrued capital expenditures not yet paid.

In connection with our restructuring program, we recorded non-cash property, plant and equipment write-downs (including accelerated depreciation and asset impairments) of $206 million in 2017, $301 million in 2016 and $264 million in 2015 (see Note 6, 2014-2018 Restructuring Program). These charges related to property, plant and equipment were recorded in the consolidated statements of earnings within asset impairment and exit costs and in the segment results as follows:


	For the Years Ended December 31,
	2017		2016		2015
	(in millions)

Latin America	$	36	$	22	$	46
AMEA		81		44		88
Europe		58		122		65
North America		30		111		65
Corporate		1		2		–

Non-cash property, plant and equipment write-downs	$	206	$	301	$	264