v3.25.4
Property, Plant and Equipment, Net of Accumulated Depreciation
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation Property, Plant and Equipment, Net of Accumulated Depreciation
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
 December 31,
 20252024
Land$383 $375 
Buildings6,256 5,650 
Equipment (1)
21,701 20,007 
Construction in progress1,714 1,819 
Subtotal30,054 27,851 
Accumulated depreciation(15,229)(14,492)
Property, plant and equipment, net of accumulated depreciation (2)
$14,825 $13,359 
(1)Manufacturing equipment includes certain components of production equipment that are constructed of precious metals. As of December 31, 2025 and 2024, the carrying value of precious metals was $2.8 billion and significantly lower than the fair market value. Depletion expense for precious metals for the years ended December 31, 2025, 2024 and 2023 was $31 million, $29 million and $35 million, respectively.
(2)Approximately $36 million, $31 million and $40 million of interest costs were capitalized as part of property, plant and equipment during the years ended December 31, 2025, 2024 and 2023, respectively.