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Property, Plant and Equipment

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	As of June 30, 2019				As of December 31, 2018
	(in millions)
Land and land improvements	$	422			$	424
Buildings and building improvements	3,017				2,984
Machinery and equipment	10,918				10,943
Construction in progress	854				894
	15,211				15,245
Accumulated depreciation	(6,661		)		(6,763		)
Property, plant and equipment, net	$	8,550			$	8,482

For the six months ended June 30, 2019, capital expenditures of $465 million excluded $217 million of accrued capital expenditures remaining unpaid at June 30, 2019 and included payment for $331 million of capital expenditures that were accrued and unpaid at December 31, 2018. For the six months ended June 30, 2018, capital expenditures of $532 million excluded $268 million of accrued capital expenditures remaining unpaid at June 30, 2018 and included payment for $357 million of capital expenditures that were accrued and unpaid at December 31, 2017.

In connection with our restructuring program, we recorded non-cash property, plant and equipment write-downs (including accelerated depreciation and asset impairments) in the condensed consolidated statements of earnings within asset impairment and exit costs and within the segment results as follows (refer to Note 8, Restructuring Program).

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2019				2018				2019				2018
	(in millions)
Latin America	$	—			$	6			$	1			$	14
AMEA	(3		)		4				(2		)		8
Europe	1				1				2				6
North America	1				2				4				8
Non-cash property, plant and equipment write-downs	$	(1	)		$	13			$	5			$	36

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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