Property, Plant and Equipment-Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment, Net [Abstract]

Components of property, plant and equipment-net

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


	December 31,
	2023		2022
	(in millions)
Land	$	114	$	113
Machinery and equipment	13,716		12,633
Buildings and improvements	1,020		914
Construction in progress	394		203
Property, plant and equipment(1)	15,244		13,863
Less: Accumulated depreciation and amortization	8,103		7,426
Property, plant and equipment—net	$	7,141	$	6,437

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(1)As of December 31, 2023 and 2022, we had property, plant and equipment that was accrued but unpaid of approximately $68 million and $53 million, respectively.

Summary of plant turnaround activity

The following is a summary of capitalized plant turnaround costs:


	Year ended December 31,
	2023		2022		2021
	(in millions)
Net capitalized turnaround costs as of January 1	$	312	$	355	$	226
Additions	165		118		250
Depreciation	(138)		(134)		(121)
Impairment related to U.K. operations	—		(21)		—
Acquisition of Waggaman ammonia production facility	16		—		—
Effect of exchange rate changes and other	(3)		(6)		—
Net capitalized turnaround costs as of December 31	$	352	$	312	$	355