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Property, Plant and Equipment | 6 Months Ended
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Jun. 30, 2019
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | (5) Property, Plant and Equipment Property, plant and equipment consisted of the following:
(in millions) | June 30, 2019 |  | December 31, 2018
Machinery and equipment | $ | 3,836 |  |  | $ | 3,785 |
Construction in progress | 73 |  |  | 102 |
Buildings and improvements | 87 |  |  | 87 |
Land and improvements | 45 |  |  | 43 |
Furniture and fixtures | 33 |  |  | 33 |
ROU finance lease | 27 |  |  | — |
Other | 14 |  |  | 17 |
| 4,115 |  |  | 4,067 |
Less: Accumulated depreciation | 1,739 |  |  | 1,637 |
Total property, plant and equipment, net | $ | 2,376 |  |  | $ | 2,430 |
On May 21, 2019, a subsidiary of CVR Energy sold the crude oil storage terminal located in Cushing, Oklahoma and related assets (the “Terminal”). As part of this transaction the Company received cash consideration of $43 million for the Terminal and related crude oil inventories resulting in the recognition of a gain on sale of $9 million. The carrying value of the inventory sold as part of this transaction has been presented on a net basis, with the proceeds on sale, within the net cash used in investing section of the Condensed Consolidated Statements of Cash Flows.

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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 + Details
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