Note 9 - Property, Plant and Equipment, Net of Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Property, plant and equipment, net of accumulated depreciation follow (in millions):

	December 31,
	2021			2020
Land	$	441		$	471
Buildings		6,145			6,453
Equipment		21,208			20,563
Construction in progress		1,979			1,918
Subtotal		29,773			29,405
Accumulated depreciation		(13,969	)		(13,663	)
Total	$	15,804		$	15,742

Approximately $36 million, $58 million and $54 million of interest costs were capitalized as part of property, plant and equipment, net of accumulated depreciation, in 2021, 2020 and 2019, respectively.

Manufacturing equipment includes certain components of production equipment that are constructed of precious metals. At December 31, 2021 and 2020, the recorded value of precious metals totaled $3.5 billion and $3.4 billion, respectively. Depletion expense for precious metals in the years ended  December 31, 2021, 2020 and 2019 was $28 million, $24 million and $16 million, respectively.