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PROPERTIES AND ACCUMULATED DEPRECIATION
12 Months Ended
Dec. 31, 2015
Property, Plant and Equipment [Abstract]  
PROPERTIES AND ACCUMULATED DEPRECIATION
PROPERTIES AND ACCUMULATED DEPRECIATION
 
December 31,
(Dollars in millions)
2015
 
2014
Properties
 
 
 
Land
$
163

 
$
175

Buildings and building equipment
1,148

 
1,128

Machinery and equipment
9,333

 
9,252

Construction in progress
590

 
471

Properties and equipment at cost
$
11,234

 
$
11,026

Less:  Accumulated depreciation
6,104

 
5,939

Net properties
$
5,130

 
$
5,087



Depreciation expense was $402 million, $355 million, and $345 million for 2015, 2014, and 2013, respectively.

Cumulative construction-period interest of $163 million and $162 million, reduced by accumulated depreciation of $107 million and $103 million, is included in net properties at December 31, 2015 and 2014, respectively.

Interest capitalized during 2015, 2014, and 2013 was $7 million, $7 million, and $4 million, respectively.