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Property, Plant & Equipment
6 Months Ended
Jun. 30, 2016
Property, Plant and Equipment [Abstract]  
Property, plant & equipment
PROPERTY, PLANT & EQUIPMENT
The following table summarizes our property, plant and equipment as of June 30, 2016 and December 31, 2015:
Millions of dollars

June 30,
2016

December 31,
2015
Land

$
133


$
131

Buildings

1,650


1,614

Machinery and equipment

8,220


7,982

Accumulated depreciation

(6,261
)

(5,953
)
Property, plant and equipment, net

$
3,742


$
3,774


During the six months ended June 30, 2016, disposals primarily consisted of machinery and equipment with historical cost of $138 million and related accumulated depreciation $122 million.