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PROPERTIES AND ACCUMULATED DEPRECIATION
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTIES AND ACCUMULATED DEPRECIATION PROPERTIES AND ACCUMULATED DEPRECIATION
 December 31,
(Dollars in millions)20232022
Properties
Land$114 $140 
Buildings1,482 1,394 
Machinery and equipment10,750 10,543 
Construction in progress1,228 865 
Properties and equipment at cost$13,574 $12,942 
Less:  Accumulated depreciation8,026 7,782 
Net properties$5,548 $5,160 
Depreciation expense was $405 million, $384 million, and $426 million for 2023, 2022, and 2021, respectively.

Cumulative construction-period interest of $100 million and $93 million, reduced by accumulated depreciation of $46 million and $43 million, is included in net properties at December 31, 2023 and 2022, respectively.

Eastman capitalized $18 million, $9 million, and $5 million of interest in 2023, 2022, and 2021, respectively.