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PROPERTY, PLANT AND EQUIPMENT, NET | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is stated at cost less accumulated depreciation and amortization, and consisted of:
| December 31,
(in millions) | 2023 |  | 2022
Land, land use rights and buildings | $ | 1,319 |  |  | $ | 1,213 |
Machinery and equipment | 5,327 |  |  | 4,963 |
Finance lease assets | 32 |  |  | 13 |
Construction in progress | 671 |  |  | 529 |
Total property, plant and equipment, gross | 7,349 |  |  | 6,718 |
Less: accumulated depreciation | 3,816 |  |  | 3,531 |
Property, plant and equipment, net, excluding tooling | 3,533 |  |  | 3,187 |
Tooling, net of amortization | 250 |  |  | 239 |
Property, plant and equipment, net | $ | 3,783 |  |  | $ | 3,426 |
Interest costs capitalized for the years ended December 31, 2023, 2022 and 2021 were $17 million, $17 million and $9 million, respectively.

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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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