XML 29 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1
Property, Plant and Equipment, Net of Accumulated Depreciation
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation Property, Plant and Equipment, Net of Accumulated Depreciation
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
 December 31,
 20242023
Land$375 $412 
Buildings5,650 5,931 
Equipment (1)
20,007 20,896 
Construction in progress1,819 1,944 
Subtotal27,851 29,183 
Accumulated depreciation(14,492)(14,553)
Property, plant and equipment, net of accumulated depreciation (2)
$13,359 $14,630 
(1)Manufacturing equipment includes certain components of production equipment that are constructed of precious metals. As of December 31, 2024 and 2023, the carrying value of precious metals was $2.8 billion and $3.1 billion, respectively, and significantly lower than the fair market value. Depletion expense for precious metals for the years ended December 31, 2024, 2023 and 2022 was $29 million, $35 million and $27 million, respectively.
(2)Approximately $31 million, $40 million and $48 million of interest costs were capitalized as part of property, plant and equipment during the years ended December 31, 2024, 2023 and 2022, respectively.