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Property, Plant and Equipment, Net
12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment, Net  
Property, Plant and Equipment, Net

10.  Property, Plant and Equipment, Net

Property, plant and equipment, net consists of the following:

December 31, 

    

Useful Life

    

2024

    

2023

(in years)

(in millions)

Land

$

335

$

332

Buildings and improvements

 

140

 

1,129

 

 

1,058

Machinery, equipment and furniture

 

130

 

6,209

 

 

6,083

Assets leased to others

 

539

 

320

 

 

334

Financing leases

 

110

 

143

 

 

118

Construction in progress

 

 

261

 

275

 

 

8,397

 

8,200

Less: Accumulated depreciation and amortization

 

 

(4,554)

 

(4,231)

Property, plant and equipment, net

$

3,843

$

3,969

Depreciation and amortization expense related to property, plant and equipment for the years ended December 31, 2024, 2023 and 2022 was $400 million, $384 million and $384 million, respectively.