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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
A summary of property, plant and equipment as of December 31, 2024 and 2023 is as follows:
(in millions of dollars)
20242023
Land and industrial buildings$1,657 $1,896 
Plant, machinery and equipment3,814 3,641 
Construction in progress227 276 
Other433 423 
Gross property, plant and equipment6,131 6,236 
Accumulated depreciation(4,195)(4,323)
Net property, plant and equipment$1,936 $1,913 
    
Property, plant and equipment recorded under capital leases were immaterial as of December 31, 2024 and 2023.
Depreciation expenses on the above property, plant and equipment totaled $235 million, $213 million and $198 million for the years ended December 31, 2024, 2023 and 2022, respectively.
The Company had contractual commitments of $76 million and $207 million for the acquisition of property, plant and equipment at December 31, 2024 and 2023, respectively.