Property, Plant and Equipment

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of March 31, 2025		As of December 31, 2024
	(in millions)
Land and land improvements	$	383	$	373
Buildings and building improvements	3,602		3,453
Machinery and equipment	13,340		12,732
Construction in progress	967		1,058
	18,292		17,616
Accumulated depreciation	(8,525)		(8,135)
Property, plant and equipment, net	$	9,767	$	9,481

For the three months ended March 31, 2025, capital expenditures of $277 million excluded $397 million of accrued capital expenditures remaining unpaid at March 31, 2025 and included payment for a portion of the $458 million of capital expenditures that were accrued and unpaid at December 31, 2024. 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.