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PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT The major components of property, plant and equipment as of December 31, 2023 and 2022 consist of:
(in millions) |  | 2023 |  | 2022
Land |  | $ | 74 |  |  | $ | 71 |
Buildings and improvements |  | 823 |  |  | 798 |
Machinery and equipment |  | 2,053 |  |  | 1,951 |
Other equipment and leasehold improvements |  | 355 |  |  | 342 |
Equipment on operating lease |  | 84 |  |  | 78 |
Construction in progress |  | 401 |  |  | 280 |
|  | 3,790 |  |  | 3,520 |
Accumulated depreciation |  | (2,083) |  |  | (1,920) |
|  | $ | 1,707 |  |  | $ | 1,600 |
Depreciation expense was $187 million, $179 million and $177 million for 2023, 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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