Property, Plant and Equipment-Net (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment, Net [Abstract]

Components of property, plant and equipment-net

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


	June 30, 2023		December 31, 2022
	(in millions)
Land	$	114	$	113
Machinery and equipment	12,740		12,633
Buildings and improvements	923		914
Construction in progress	303		203
Property, plant and equipment(1)	14,080		13,863
Less: Accumulated depreciation and amortization	7,862		7,426
Property, plant and equipment—net	$	6,218	$	6,437

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(1)As of June 30, 2023 and December 31, 2022, we had property, plant and equipment that was accrued but unpaid of approximately $63 million and $53 million, respectively. As of June 30, 2022 and December 31, 2021, we had property, plant and equipment that was accrued but unpaid of approximately $51 million and $35 million, respectively.

Summary of plant turnaround activity


	Six months ended June 30,
	2023		2022
	(in millions)
Net capitalized turnaround costs as of January 1	$	312	$	355
Additions	47		26
Depreciation	(62)		(70)
Impairment related to U.K. operations	—		(7)
Effect of exchange rate changes	1		(4)
Net capitalized turnaround costs as of June 30	$	298	$	300