Property, Plant and Equipment-Net (Tables)

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment, Net [Abstract]

Components of property, plant and equipment-net

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


	March 31, 2024		December 31, 2023
	(in millions)
Land	$	114	$	114
Machinery and equipment	13,679		13,716
Buildings and improvements	1,015		1,020
Construction in progress	412		394
Property, plant and equipment(1)	15,220		15,244
Less: Accumulated depreciation and amortization	8,238		8,103
Property, plant and equipment—net	$	6,982	$	7,141

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(1)As of March 31, 2024 and December 31, 2023, we had property, plant and equipment that was accrued but unpaid of approximately $72 million and $68 million, respectively. As of March 31, 2023 and December 31, 2022, we had property, plant and equipment that was accrued but unpaid of approximately $45 million and $53 million, respectively.

Summary of plant turnaround activity


	Three months ended March 31,
	2024		2023
	(in millions)
Net capitalized turnaround costs as of January 1	$	352	$	312
Additions	24		7

Depreciation	(52)		(31)

Effect of exchange rate changes and other	(1)		—
Net capitalized turnaround costs as of March 31	$	323	$	288