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PROPERTY, PLANT AND EQUIPMENT | 6 Months Ended
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Jun. 30, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT The following table summarizes our property, plant and equipment at June 30, 2022 and December 31, 2021:
Millions of dollars |  | June 30, 2022 |  | December 31, 2021
Land |  | $ | 70 |  |  | $ | 84 |
Buildings |  | 1,168 |  |  | 1,249 |
Machinery and equipment |  | 7,916 |  |  | 8,091 |
Accumulated depreciation |  | (6,540) |  |  | (6,619) |
Property, plant and equipment, net (1) |  | $ | 2,614 |  |  | $ | 2,805 |
(1) Property, plant and equipment with a net book value of $141 million associated with our Russian business has been transferred to assets held for sale in the second quarter of 2022 and was fully impaired. For additional information, see Notes 10 and 15 to the Consolidated Condensed Financial Statements. During the six months ended June 30, 2022, we disposed of land, buildings, machinery and equipment with a net book value of $20 million, compared to $9 million in the same period of 2021. The net gain on the disposals is $56 million for the six months ended June 30, 2022 was primarily driven by a sale-leaseback transaction. The net gain on the disposals was not material for the same period of 2021. For additional information see Note 1 to the Consolidated Condensed Financial Statements.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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