Property, Plant and Equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of June 30, 2024		As of December 31, 2023
	(in millions)
Land and land improvements	$	380	$	384
Buildings and building improvements	3,429		3,452
Machinery and equipment	12,661		12,736
Construction in progress	1,093		1,118
	17,563		17,690
Accumulated depreciation	(8,075)		(7,996)
Property, plant and equipment, net	$	9,488	$	9,694

For the six months ended June 30, 2024, capital expenditures of $666 million excluded $364 million of accrued capital expenditures remaining unpaid at June 30, 2024 and included payment for the $471 million of capital expenditures that were accrued and unpaid at December 31, 2023. For the six months ended June 30, 2023, capital expenditures of $495 million excluded $305 million of accrued capital expenditures remaining unpaid at June 30, 2023 and included payment for the $324 million of capital expenditures that were accrued and unpaid at December 31, 2022.