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Property, Plant and Equipment, Net
 12 Months Ended
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,
20242023
Land$136 $195 
Buildings and improvements1,688 1,822 
Machinery and equipment3,447 3,752 
Information technology507 473 
Construction in process389 400 
Total Property, plant and equipment6,167 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.