Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Included in the subcategory of equipment are the following types of assets (excluding precious metals):

Asset type	Range of useful life (in years)
Computer hardware and software	3 to 7
Manufacturing equipment	2 to 15
Furniture and fixtures	5 to 10
Transportation equipment	3 to 20

Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):

	December 31,
	2025		2024
Land	$	383	$	375
Buildings	6,256		5,650
Equipment (1)	21,701		20,007
Construction in progress	1,714		1,819
Subtotal	30,054		27,851
Accumulated depreciation	(15,229)		(14,492)
Property, plant and equipment, net of accumulated depreciation (2)	$	14,825	$	13,359

(1)Manufacturing equipment includes certain components of production equipment that are constructed of precious metals. As of December 31, 2025 and 2024, the carrying value of precious metals was $2.8 billion and significantly lower than the fair market value. Depletion expense for precious metals for the years ended December 31, 2025, 2024 and 2023 was $31 million, $29 million and $35 million, respectively.

(2)Approximately $36 million, $31 million and $40 million of interest costs were capitalized as part of property, plant and equipment during the years ended December 31, 2025, 2024 and 2023, respectively.