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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2022
Property, Plant and Equipment [Abstract] |
Summary of Carrying Value of Each Major Class of Depreciable Assets | 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 45 years
The following table indicates the carrying value of each of the major classes of our depreciable assets:
| December 31,
(In millions) | 2022 |  | 2021
Land, land improvements and mineral rights | $ | 1,388 |  |  | $ | 1,291 |
Buildings | 921 |  |  | 889 |
Equipment | 9,289 |  |  | 8,709 |
Other | 238 |  |  | 229 |
Construction in progress | 552 |  |  | 408 |
Total property, plant and equipment 1 | 12,388 |  |  | 11,526 |
Allowance for depreciation and depletion | (3,318) |  |  | (2,340) |
Property, plant and equipment, net | $ | 9,070 |  |  | $ | 9,186 |
1 Includes right-of-use assets related to finance leases of $408 million and $411 million as of December 31, 2022 and 2021, respectively.
The net book value of the mineral and land rights are as follows:
| December 31,
(In millions) | 2022 |  | 2021
Mineral rights: |  |  |
Cost | $ | 780 |  |  | $ | 780 |
Depletion | (225) |  |  | (187) |
Net mineral rights | $ | 555 |  |  | $ | 593 |
Land rights | $ | 434 |  |  | $ | 406 |

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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 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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