Property, Plant and Equipment-Net (Tables)

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment, Net [Abstract]

Components of property, plant and equipment-net

Property, plant and equipment—net consists of the following:


	September 30, 2022		December 31, 2021
	(in millions)
Land	$	112	$	68
Machinery and equipment(1)	12,523		12,757
Buildings and improvements(1)	910		915
Construction in progress(1)	166		148
Property, plant and equipment(2)	13,711		13,888
Less: Accumulated depreciation and amortization	7,211		6,807
Property, plant and equipment—net	$	6,500	$	7,081

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(1)As of September 30, 2022, machinery and equipment, buildings and improvements, and construction in progress include cumulative impairment charges of $354 million, $7 million and $25 million, respectively, which include impairment charges related to our U.K. operations of $135 million and $69 million recorded in the second quarter and third quarter of 2022, respectively, and $182 million recorded in 2021. As of December 31, 2021, machinery and equipment, buildings and improvements, and construction in progress include cumulative impairment charges related to our U.K. operations of $169 million, $5 million and $8 million, respectively, which were recorded in the third quarter of 2021.

(2)As of September 30, 2022 and December 31, 2021, we had property, plant and equipment that was accrued but unpaid of approximately $60 million and $35 million, respectively. As of September 30, 2021 and December 31, 2020, we had property, plant and equipment that was accrued but unpaid of approximately $78 million and $43 million, respectively.

Summary of plant turnaround activity


	Nine months ended September 30,
	2022		2021
	(in millions)
Net capitalized turnaround costs:
Balance as of January 1	$	355	$	226
Additions	84		215
Depreciation	(101)		(84)
Impairment	(21)		—
Effect of exchange rate changes	(7)		—
Balance as of September 30	$	310	$	357