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Property, Plant & Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant & Equipment

PROPERTY, PLANT & EQUIPMENT

The following table summarizes our property, plant and equipment at September 30, 2019 and December 31, 2018:

Millions of dollars		September 30, 2019				December 31, 2018
Land		$	98			$	102
Buildings		1,585				1,593
Machinery and equipment		7,851				7,909
Accumulated depreciation		(6,331		)		(6,190		)
Property, plant and equipment, net		$	3,203			$	3,414

During the nine months ended September 30, 2019, we disposed of buildings, machinery and equipment no longer in use with a net book value of $57 million, primarily related to the Naples asset impairment charges.

For additional information, see Note 13 to the Consolidated Condensed Financial Statements.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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