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Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment are stated at cost. Expenditures for maintenance and repairs are expensed as incurred. Depreciation expense is calculated principally on the straight-line basis. Useful lives determined by the Company are as follows: buildings and improvements (20 - 40 years) and machinery and equipment (3 - 15 years).

Property, plant and equipment, net, consisted of the following at December 31, (in millions):
20242023
Land$65 $75 
Buildings and improvements522 678 
Machinery and equipment2,392 2,517 
2,979 3,270 
Less: Accumulated depreciation(1,822)(2,058)
$1,157 $1,212 
Depreciation expense was $188 million, $225 million and $196 million in 2024, 2023 and 2022, respectively.