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Property, Plant and Equipment-Net
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment, Net [Abstract]  
Property, Plant and Equipment-Net
Property, plant and equipment—net consists of the following:
 September 30, 
2025		December 31, 
2024
 (in millions)
Land$109 $114 
Machinery and equipment13,961 13,801 
Buildings and improvements1,044 1,011 
Construction in progress725 482 
Property, plant and equipment(1)
15,839 15,408 
Less: Accumulated depreciation and amortization9,007 8,673 
Property, plant and equipment—net$6,832 $6,735 
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(1)As of September 30, 2025 and December 31, 2024, we had property, plant and equipment that was accrued but unpaid of $164 million and $101 million, respectively. As of September 30, 2024 and December 31, 2023, we had property, plant and equipment that was accrued but unpaid of $122 million and $68 million, respectively.
Depreciation and amortization related to property, plant and equipment was $215 million and $665 million for the three and nine months ended September 30, 2025, respectively, and $229 million and $701 million for the three and nine months ended September 30, 2024, respectively.
Plant turnarounds—Scheduled inspections, replacements and overhauls of plant machinery and equipment at our continuous process manufacturing facilities during a full plant shutdown are referred to as plant turnarounds. The expenditures related to plant turnarounds are capitalized in property, plant and equipment when incurred.
Scheduled replacements and overhauls of plant machinery and equipment during a plant turnaround include the dismantling, repair or replacement and installation of various components including piping, valves, motors, turbines, pumps, compressors and heat exchangers and the replacement of catalysts. Scheduled inspections, including required safety inspections which entail the disassembly of various components such as steam boilers, pressure vessels and other equipment requiring safety certifications, are also conducted during plant turnarounds. Internal employee costs and overhead amounts are not considered plant turnaround costs and are not capitalized.
The following is a summary of capitalized plant turnaround costs:
 Nine months ended 
 September 30,
 20252024
 (in millions)
Net capitalized plant turnaround costs as of January 1$363 $352 
Additions183 120 
Depreciation(113)(134)
Net capitalized plant turnaround costs as of September 30
$433 $338 
United Kingdom Operations
In the second quarter of 2022, we approved and announced our proposed plan to restructure our U.K. operations, including the planned permanent closure of the Ince facility, which had been idled since September 2021. For property, plant and equipment within the Ince, U.K. asset group, an asset group planned for abandonment, we first considered use of a market or income-based valuation method. However, given that a secondary market did not exist and the assets had been idled with a planned abandonment and therefore would not generate future cash flows from operations, we estimated the fair value of the asset group by determining the replacement cost of the underlying assets and then adjusting each of the asset categories to an estimated salvage value utilizing industry recognized price publications. In the third quarter of 2022, the final restructuring plan was approved, and the facility was subsequently decommissioned.
In the first quarter of 2025, the Ince facility was sold, including certain liabilities assumed by the buyer, and we recognized a loss of $23 million on the sale. The loss is reflected in U.K. operations restructuring in our consolidated statement of operations for the nine months ended September 30, 2025.