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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT NOTE 11 - PROPERTY, PLANT AND EQUIPMENT
(in millions of U.S. dollar)
Land and
Property
Rights
Buildings
Machinery
and
Equipment
Construction
Work in
Progress
Other
Property,
Plant and
Equipment
At December 31, 2024
Gross carrying value
65
790
3,760
223
58
4,896
Less accumulated depreciation
(25)
(339)
(2,078)
—
(46)
(2,488)
Net balance at December 31, 2024
40
451
1,682
223
12
2,408
At December 31, 2023
Gross carrying value
51
762
3,655
278
58
4,804
Less accumulated depreciation
(24)
(315)
(1,998)
—
(45)
(2,382)
Net balance at December 31, 2023
27
447
1,657
278
13
2,422
Depreciation expense related to Property, plant and equipment is shown in the table below:
At December 31,
(in millions of U.S. dollar)
2024
2023
2022
Depreciation expense related to property, plant and equipment
(291)
(286)
(275)
The amount of contractual commitments for the acquisition of property, plant and equipment is disclosed in Note 21 -
Commitments.