Property, Plant and Equipment-Net (Tables)

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment, Net [Abstract]

Components of property, plant and equipment-net

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


	September 30, 2023		December 31, 2022
	(in millions)
Land	$	114	$	113
Machinery and equipment	12,716		12,633
Buildings and improvements	923		914
Construction in progress	339		203
Property, plant and equipment(1)	14,092		13,863
Less: Accumulated depreciation and amortization	7,936		7,426
Property, plant and equipment—net	$	6,156	$	6,437

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(1)As of September 30, 2023 and December 31, 2022, we had property, plant and equipment that was accrued but unpaid of approximately $80 million and $53 million, respectively. 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.

Summary of plant turnaround activity


	Nine months ended September 30,
	2023		2022
	(in millions)
Net capitalized turnaround costs as of January 1	$	312	$	355
Additions	121		84

Depreciation	(95)		(101)
Impairment related to U.K. operations	—		(21)
Effect of exchange rate changes and other	(4)		(7)
Net capitalized turnaround costs as of September 30	$	334	$	310