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v3.22.4

Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2022
Property, Plant and Equipment |
Property, Plant and Equipment | Note 4 − Property, Plant and Equipment The following table is a summary of property, plant and equipment: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Useful | ​ | December 31, | ​
(Millions of dollars) |  | Lives |  | 2022 |  | 2021 | ​
Land and improvements |  | 3 | - | 15 | years | ​ | $ | 331 | ​ | $ | 285 | ​
Buildings and improvements |  | ​ | ​ | 30 | years | ​ |  | 779 | ​ |  | 739 | ​
Machinery and equipment |  | 3 | - | 20 | years | ​ |  | 2,027 | ​ |  | 1,445 | ​
Vessels and vehicles |  | 3 | - | 18 | years | ​ |  | 373 | ​ |  | 214 | ​
Office furniture and fixtures |  | ​ | ​ | 5 | years | ​ |  | 43 | ​ |  | 45 | ​
Contract growers | ​ | 5 | - | 15 | years | ​ | ​ | 151 | ​ | ​ | 118 | ​
Construction in progress | ​ | ​ | ​ | ​ | ​ | ​ |  | 286 | ​ |  | 613 | ​
Total property, plant and equipment | ​ | ​ | ​ | ​ | ​ | ​ |  | 3,990 | ​ |  | 3,459 | ​
Accumulated depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ |  | (1,744) | ​ |  | (1,567) | ​
Net property, plant and equipment | ​ | ​ | ​ | ​ | ​ | ​ | $ | 2,246 | ​ | $ | 1,892 | ​
​ Seaboard’s capitalized interest on construction in progress was $4 million and $7 million for the years ended December 31, 2022 and 2021, respectively.

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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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