Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

	As of December 31,
	2023	2022
	(In $ millions)
Land	260	291
Land improvements	85	83
Buildings and building improvements	1,082	1,062
Machinery and equipment	7,157	6,897
Construction in progress	1,080	938
Gross asset value	9,664	9,271
Accumulated depreciation	(4,080)	(3,687)
Net book value	5,584	5,584

Assets under finance leases, net, included in the amounts above were $154 million and $176 million as of December 31, 2023 and 2022, respectively.

Capitalized interest costs and depreciation expense are as follows:

	Year Ended December 31,
	2023	2022	2021
	(In $ millions)
Capitalized interest	37	18	12
Depreciation expense	540	399	346

During 2023, 2022 and 2021, certain long-lived assets were impaired (Note 24).