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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Property, Plant and Equipment

The lives used in computing depreciation for significant asset classes are as follows:

Asset						Range of Useful Lives, in Years
Land improvements						10 to 30
Buildings and improvements						1 to 30
Machinery and equipment						1 to 30
Furniture and fixtures						3 to 10
Right-of-use (“ROU”) finance leases						5 to 18
Other						5 to 30

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

			December 31,
(in millions)			2023						2022
Machinery and equipment			$	4,287					$	4,194
Buildings and improvements			124						86
ROU finance leases			81						79
Land and improvements			74						72
Furniture and fixtures			33						37
Construction in progress			193						143
Other			15						15
			4,807						4,626
Less: Accumulated depreciation and amortization			(2,586)						(2,379)
Total property, plant and equipment, net			$	2,221					$	2,247

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-1

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