Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

The components of property, plant and equipment follow:

	Useful Lives	As of December 31,
(MILLIONS OF DOLLARS)	(Years)	2021		2020
Land	—	$	22	$	22
Buildings	33.3 - 50	1,103		1,019
Machinery, equipment and fixtures	3 - 20	2,627		2,440
Construction-in-progress	—	742		673
		4,494		4,154
Less: Accumulated depreciation		2,072		1,952
Property, plant and equipment		$	2,422	$	2,202

Depreciation expense was $244 million in 2021, $211 million in 2020 and $175 million in 2019.