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PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | NOTE 6 - PROPERTY, PLANT AND EQUIPMENT The following table indicates the carrying value of each of the major classes of our depreciable assets:
| December 31,
(In millions) | 2024 |  | 2023
Land, land improvements and mineral rights | $ | 1,451 |  |  | $ | 1,389 |
Buildings | 1,104 |  |  | 946 |
Equipment | 11,119 |  |  | 9,680 |
Other | 349 |  |  | 302 |
Construction in progress | 728 |  |  | 590 |
Total property, plant and equipment 1 | 14,751 |  |  | 12,907 |
Allowance for depreciation and depletion | (4,809) |  |  | (4,012) |
Property, plant and equipment, net | $ | 9,942 |  |  | $ | 8,895 |
1 Includes right-of-use assets related to finance leases of $505 million and $306 million as of December 31, 2024 and 2023, respectively.
We recorded depreciation expense of $903 million, $932 million and $988 million for the years ended December 31, 2024, 2023 and 2022, respectively. Depreciation expense for the year ended December 31, 2022 includes $23 million of accelerated depreciation related to the decision to indefinitely idle the coke facility at Middletown Works and $68 million of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace. The net book value of the mineral and land rights are as follows:
| December 31,
(In millions) | 2024 |  | 2023
Mineral rights: |  |  |
Cost | $ | 783 |  |  | $ | 783 |
Depletion | (287) |  |  | (258) |
Net mineral rights | $ | 496 |  |  | $ | 525 |
Land rights | $ | 467 |  |  | $ | 427 |
We recorded depletion expense of $29 million, $33 million and $38 million for the years ended December 31, 2024, 2023, and 2022, 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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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