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Property, Plant and Equipment, Net | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment, Net [Abstract] |
Property, Plant and Equipment, Net | PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net consisted of the following amounts:
(DOLLARS IN MILLIONS) | December 31,
2024 |  | 2023
Land | $ | 136 |  |  | $ | 195 |
Buildings and improvements | 1,688 |  |  | 1,822 |
Machinery and equipment | 3,447 |  |  | 3,752 |
Information technology | 507 |  |  | 473 |
Construction in process | 389 |  |  | 400 |
Total Property, plant and equipment | 6,167 |  |  | 6,642 |
Accumulated depreciation | (2,428) |  |  | (2,402) |
Total Property, plant and equipment, net | $ | 3,739 |  |  | $ | 4,240 |
Depreciation Depreciation expense was $405 million, $462 million and $452 million for the years ended December 31, 2024, 2023 and 2022, respectively. Capitalized Interest Interest incurred during the construction period of certain property, plant and equipment is capitalized until the underlying assets are placed in service, at which time straight-line amortization of the capitalized interest begins over the estimated useful lives of the related assets. Capitalized interest was approximately $14 million, $17 million and $13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Impairment of Property, Plant and Equipment As discussed in Note 1, for the year ended December 31, 2022, an impairment charge of approximately $28 million was recorded in connection with property, plant and equipment, primarily buildings and improvements, of an asset group that operates primarily in Russia.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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