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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
Property, plant and equipment by major asset class consists of the following:
December 31,
(Dollars in millions)20242023
Land, buildings and improvements$380 $342 
Plant and machinery203 197 
Equipment and other382 334 
Total property, plant and equipment, at cost965 873 
Less accumulated depreciation(525)(471)
Total property, plant and equipment, net
$440 $402 
Depreciation expense related to property, plant and equipment was $69 million, $63 million, and $55 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Land, buildings and improvements include assets under finance leases in the amount of $97 million and $98 million as of December 31, 2024 and 2023, respectively. See Note 11: Leases for additional information.
As of December 31, 2024 and 2023, the Company accounted for our manufacturing facility in Menomonee Falls, WI as a financing arrangement and is included in land, building, and improvements in the above table. See Note 13: Debt for additional information.