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PROPERTY, PLANT AND EQUIPMENT | 3 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT The following table summarizes our property, plant and equipment at March 31, 2023 and December 31, 2022:
Millions of dollars |  | March 31, 2023 |  | December 31, 2022
Land |  | $ | 32 |  |  | $ | 32 |
Buildings |  | 876 |  |  | 862 |
Machinery and equipment |  | 6,260 |  |  | 6,016 |
Accumulated depreciation |  | (5,064) |  |  | (4,808) |
Property, plant and equipment, net |  | $ | 2,104 |  |  | $ | 2,102 |
During the three months ended March 31, 2023, we disposed of land, buildings, machinery and equipment with a net book value of $1 million, compared to $17 million in the same period of 2022. The net loss on the disposals was not material for the three months ended March 31, 2023. The net gain on the disposals of $57 million for the same period of 2022 was primarily driven by a sale-leaseback transaction. 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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