Property, Plant and Equipment

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of March 31, 2024		As of December 31, 2023
	(in millions)
Land and land improvements	$	376	$	384
Buildings and building improvements	3,446		3,452
Machinery and equipment	12,693		12,736
Construction in progress	1,084		1,118
	17,599		17,690
Accumulated depreciation	(8,025)		(7,996)
Property, plant and equipment, net	$	9,574	$	9,694

For the three months ended March 31, 2024, capital expenditures of $299 million excluded $418 million of accrued capital expenditures remaining unpaid at March 31, 2024 and included payment for a portion of the $471 million of capital expenditures that were accrued and unpaid at December 31, 2023. For the three months ended March 31, 2023, capital expenditures of $223 million excluded $290 million of accrued capital expenditures remaining unpaid at March 31, 2023 and included payment for a portion of the $324 million of capital expenditures that were accrued and unpaid at December 31, 2022.