Property, Plant and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment, Net and Depreciation Expense

Property, plant and equipment, net consisted of the following:

	As of June 30, 2023			As of December 31, 2022
Land and land improvements	$	73		$	72
Buildings and building improvements		677			661
Machinery and equipment		3,579			3,485
Construction in progress		176			189
Property, plant and equipment, at cost		4,505			4,407
Less: accumulated depreciation		(3,017	)		(2,634	)
Property, plant and equipment, net	$	1,488		$	1,773

Depreciation expense related to property, plant and equipment was recognized in the following components in the condensed consolidated statements of (loss) income:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2023		2022		2023		2022
Cost of sales	$	234	$	65	$	386	$	128
Selling, general and administrative expenses		10		6		17		12
Total depreciation expense(1)	$	244	$	71	$	403	$	140

(1)For the three and six months ended June 30, 2023, total depreciation expense included $177 million and $267 million, respectively, of accelerated depreciation expense related to the Beverage Merchandising Restructuring, substantially all of which was included in cost of sales. Refer to Note 3, Restructuring, Asset Impairment and Other Related Charges, for additional details.