PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 7: PROPERTY AND EQUIPMENT, NET

Property and equipment includes land, buildings and improvements, machinery and equipment, roads and other items.

Carrying Value of Property and Equipment and Estimated Service Lives

DOLLAR AMOUNTS IN MILLIONS
		DECEMBER 31,			DECEMBER 31,
	RANGE OF LIVES	2023			2022
Property and equipment, at cost:
Land	N/A	$	83		$	83
Buildings and improvements	15-40		1,222			1,166
Machinery and equipment	5-25		4,005			3,791
Roads	10-35		760			743
Other	3-10		100			98
Total cost			6,170			5,881
Accumulated depreciation and amortization			(3,901	)		(3,710	)
Property and equipment, net		$	2,269		$	2,171

SERVICE LIVES AND DEPRECIATION

In general, additions are classified into components, each with its own estimated useful life as determined at the time of purchase.

Depreciation and amortization expense for property and equipment was:

	$261 million in 2023,
	$249 million in 2022 and
	$241 million in 2021.