Property, Plant and Equipment-Net (Tables)

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment, Net [Abstract]

Components of property, plant and equipment-net

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


	March 31, 2025		December 31, 2024
	(in millions)
Land	$	108	$	114
Machinery and equipment	13,598		13,801
Buildings and improvements	1,016		1,011
Construction in progress	556		482
Property, plant and equipment(1)	15,278		15,408
Less: Accumulated depreciation and amortization	8,675		8,673
Property, plant and equipment—net	$	6,603	$	6,735

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(1)As of March 31, 2025 and December 31, 2024, we had property, plant and equipment that was accrued but unpaid of $87 million and $101 million, respectively. As of March 31, 2024 and December 31, 2023, we had property, plant and equipment that was accrued but unpaid of $72 million and $68 million, respectively.

Summary of plant turnaround activity

The following is a summary of capitalized plant turnaround costs:


	Three months ended March 31,
	2025		2024
	(in millions)
Net capitalized plant turnaround costs as of January 1	$	363	$	352
Additions	20		24

Depreciation	(37)		(52)

Effect of exchange rate changes and other	(3)		(1)
Net capitalized plant turnaround costs as of March 31	$	343	$	323