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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 9. Property, Plant and Equipment
(Dollars in millions) |  | December 31, |  |  |
|  | 2023 |  |  | 2022 |  |  | Estimated life
Land and land improvements |  | $ | 136 |  |  | $ | 125 |  |  | n/a to 15
Buildings |  |  | 1,065 |  |  |  | 957 |  |  | 20-40
Machinery and equipment |  |  | 4,545 |  |  |  | 4,156 |  |  | 3-12
Construction in progress |  |  | 548 |  |  |  | 522 |  |  | n/a
Property, plant and equipment |  |  | 6,294 |  |  |  | 5,760 |  |  |
Less accumulated depreciation |  |  | (4,102 | ) |  |  | (3,801 | ) |  |
Net of depreciation |  | $ | 2,192 |  |  | $ | 1,960 |  |  |
DEPRECIATION INCLUDED IN |  | 2023 |  |  | 2022 |  |  | 2021 |
Cost of sales |  | $ | 340 |  |  | $ | 329 |  |  | $ | 348 |
Selling, general and administrative expenses |  |  | 12 |  |  |  | 11 |  |  |  | 13 |
Research, development and engineering expenses, net |  |  | 24 |  |  |  | 20 |  |  |  | 23 |
Total |  | $ | 376 |  |  | $ | 360 |  |  | $ | 384 |
No significant fixed asset i mpairments related to the Company’s operations were recognized during 2023, 2022 or 2021. The net book value of machinery and equipment and buildings and land under finance lease contracts recorded at December 31, 2023 and December 31, 2022 were immaterial. The amortization expense related to finance leases is included with depreciation expenses disclosed in the table above.

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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