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Property, Plant and Equipment, Net
9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Our property, plant and equipment, net, consisted of the following (in millions):
September 30,
2024
December 31,
2023
Machinery, equipment, vehicles and office furniture$18,227 $16,309 
Land and buildings10,680 9,498 
Leasehold improvements3,584 3,136 
Tooling3,782 3,129 
Computer equipment, hardware and software2,818 2,409 
AI infrastructure3,693 1,510 
Construction in progress8,026 5,791 
 50,810 41,782 
Less: Accumulated depreciation(14,694)(12,057)
Total$36,116 $29,725 
Construction in progress is primarily comprised of ongoing construction and expansion of our facilities, equipment and tooling related to the manufacturing of our products as well as AI-related assets which have not yet been placed in service.
Depreciation expense during the three and nine months ended September 30, 2024 was $1.05 billion and $2.96 billion, respectively. Depreciation expense during the three and nine months ended September 30, 2023 was $897 million and $2.44 billion, respectively.