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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2020
Property, Plant and Equipment [Abstract] |
Property Plant and Equipment [Table Text Block] | Depreciation and depletion are recorded over the following estimated useful lives:
Asset Class |  | Basis |  | Life
Land, land improvements and mineral rights |  |  |  |
Land and mineral rights |  | Units of production |  | Life of mine
Land improvements |  | Straight line |  | 20 to 45 years
Buildings |  | Straight line |  | 20 to 45 years
Equipment |  | Straight line/Double declining balance |  | 3 to 20 years
The following table indicates the carrying value of each of the major classes of our depreciable assets:
| (In Millions)
| December 31,
| 2020 |  | 2019
Land, land improvements, and mineral rights | $ | 1,213 |  |  | $ | 582 |
Buildings | 703 |  |  | 158 |
Equipment | 6,786 |  |  | 1,456 |
Other | 151 |  |  | 101 |
Construction in progress | 1,364 |  |  | 730 |
Total property, plant and equipment 1 | 10,217 |  |  | 3,027 |
Allowance for depreciation and depletion | (1,474) |  |  | (1,098) |
Property, plant, and equipment, net | $ | 8,743 |  |  | $ | 1,929 |
1 Includes right-of-use assets related to finance leases of $361 million and $49 million as of December 31, 2020 and 2019, respectively.
The net book value of the mineral and land rights are as follows:
| (In Millions)
| December 31,
| 2020 |  | 2019
Mineral rights: |  |  |
Cost | $ | 773 |  |  | $ | 537 |
Depletion | (142) |  |  | (134) |
Net mineral rights | $ | 631 |  |  | $ | 403 |
Land rights | $ | 361 |  |  | $ | 12 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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