Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Inventory

The classes of inventory as of December 31 are summarized as follows ($ in millions):

	2023		2022
Finished goods	$	1,282	$	1,359
Work in process	459		422
Raw materials	853		984
Total	$	2,594	$	2,765

Useful Lives of Depreciable Assets

The provision for depreciation has been computed principally by the straight-line method based on the estimated useful lives of the depreciable assets as follows:

Category	Useful Life
Buildings	30 years
Leased assets and leasehold improvements	Amortized over the lesser of the economic life of the asset or the term of the lease
Machinery and equipment	3 – 10 years
Customer-leased equipment	5 – 7 years

Estimated useful lives are periodically reviewed and, when appropriate, changes to estimates are made prospectively.

The classes of property, plant and equipment as of December 31 are summarized as follows ($ in millions):

	2023		2022
Land and improvements	$	210	$	201
Buildings	2,269		1,795
Machinery and equipment	4,106		3,477
Customer-leased equipment	1,794		1,669
Gross property, plant and equipment	8,379		7,142
Less: accumulated depreciation	(3,826)		(3,433)
Property, plant and equipment, net	$	4,553	$	3,709

Classes of Property, Plant and Equipment

The provision for depreciation has been computed principally by the straight-line method based on the estimated useful lives of the depreciable assets as follows:

Category	Useful Life
Buildings	30 years
Leased assets and leasehold improvements	Amortized over the lesser of the economic life of the asset or the term of the lease
Machinery and equipment	3 – 10 years
Customer-leased equipment	5 – 7 years

Estimated useful lives are periodically reviewed and, when appropriate, changes to estimates are made prospectively.

The classes of property, plant and equipment as of December 31 are summarized as follows ($ in millions):

	2023		2022
Land and improvements	$	210	$	201
Buildings	2,269		1,795
Machinery and equipment	4,106		3,477
Customer-leased equipment	1,794		1,669
Gross property, plant and equipment	8,379		7,142
Less: accumulated depreciation	(3,826)		(3,433)
Property, plant and equipment, net	$	4,553	$	3,709