Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

9. Property, Plant and Equipment

(Dollars in millions)	December 31,
	2022			2021			Estimated life
Land and land improvements	$	125		$	147		n/a to 15
Buildings		957			957		20-40
Machinery and equipment		4,155			4,193		3-12
Construction in progress		523			354		n/a
Property, plant and equipment		5,760			5,651
Less accumulated depreciation		(3,800	)		(3,796	)
Net of depreciation	$	1,960		$	1,855

DEPRECIATION INCLUDED IN	2022		2021		2020
Cost of sales	$	329	$	348	$	327
Selling, general and administrative expenses		11		13		13
Research, development and engineering expenses, net		20		23		21
Total	$	360	$	384	$	361

No significant fixed asset impairments related to the Company’s operations were recognized during 2022, 2021 or 2020.

The net book value of machinery and equipment and buildings and land under finance lease contracts recorded at December 31, 2022 and December 31, 2021 were immaterial. The amortization expense related to finance leases is included with depreciation expenses disclosed in the table above.