Property, Plant and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of September 30, 2024		As of December 31, 2023
	(in millions)
Land and land improvements	$	392	$	384
Buildings and building improvements	3,530		3,452
Machinery and equipment	13,156		12,736
Construction in progress	1,048		1,118
	18,126		17,690
Accumulated depreciation	(8,430)		(7,996)
Property, plant and equipment, net	$	9,696	$	9,694

For the nine months ended September 30, 2024, capital expenditures of $982 million excluded $387 million of accrued capital expenditures remaining unpaid at September 30, 2024 and included payment for the $471 million of capital expenditures that were accrued and unpaid at December 31, 2023. For the nine months ended September 30, 2023, capital expenditures of $780 million excluded $321 million of accrued capital expenditures remaining unpaid at September 30, 2023 and included payment for the $324 million of capital expenditures that were accrued and unpaid at December 31, 2022.