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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
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

 

 

2024

 

 

2023

 

Property and equipment, at cost:

 

 

 

 

 

 

 

 

 

Land

 

N/A

 

 

$

83

 

 

$

83

 

Buildings and improvements

 

15-40

 

 

 

1,253

 

 

 

1,222

 

Machinery and equipment

 

5-25

 

 

 

4,120

 

 

 

4,005

 

Roads

 

10-35

 

 

 

783

 

 

 

760

 

Other

 

3-10

 

 

 

70

 

 

 

100

 

Total cost

 

 

 

 

 

6,309

 

 

 

6,170

 

Accumulated depreciation and amortization

 

 

 

 

 

(3,980

)

 

 

(3,901

)

Property and equipment, net

 

 

 

 

$

2,329

 

 

$

2,269

 

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:

•
$273 million in 2024,
•
$261 million in 2023 and
•
$249 million in 2022.