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PROPERTY, PLANT AND EQUIPMENT | 6 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following:
(In millions) | June 30, 2025 | December 31, 2024
Land | $ | 186 |  | $ | 178 |
Buildings and leasehold improvements | 1,354 |  | 1,238 |
Machinery and equipment | 5,141 |  | 4,876 |
Construction in progress | 550 |  | 564 |
Property, plant and equipment, gross | 7,231 |  | 6,856 |
Accumulated depreciation | (3,279) |  | (3,038) |
Property, plant and equipment, net | $ | 3,952 |  | $ | 3,818 |
Machinery and equipment include certain precious metals used in our production tooling, which comprise approximately 4% of total machinery and equipment as of June 30, 2025 and December 31, 2024. Precious metals used in our production tooling are depleted as they are consumed during the production process, depletion expense is included in Cost of Sales on the Company's Consolidated Statements of Earnings. Our production tooling needs are changing due to the announced sale of our GR business. As a result, the Company sold certain precious metals resulting in gains of $1 million and $10 million for the three and six months ended June 30, 2025, respectively. These gains are included in Other expense, net on the Consolidated Statements of Earnings and are reflected in the Corporate, Other and Eliminations reporting category. The cash proceeds from the sales are included in Net cash flow used for investing activities in the Consolidated Statements of Cash Flow. We also exchanged certain precious metals used in production tooling for certain other precious metals to be used in production tooling. During the three and six months ended June 30, 2025, these non-cash exchanges resulted in a net increase to Machinery and equipment of $11 million and gains totaling $11 million.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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