Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, plant, and equipment were composed of the following:


	December 31
Millions of dollars	2022		2021
Land	$	117	$	120
Buildings and property improvements	1,671		1,608
Machinery, equipment, and other	14,220		14,040
Total	16,008		15,768
Less accumulated depreciation	11,660		11,442
Net property, plant, and equipment	$	4,348	$	4,326

During the year ended December 31, 2022, we recorded $100 million of impairment charges on property, plant, and equipment primarily related to our exit from Russia. During the year ended December 31, 2021, no impairment charges were recorded on property, plant, and equipment. See Note 2 to the consolidated financial statements for further discussion on impairments and other charges.

Classes of assets are depreciated over the following useful lives:


	Buildings and Property Improvements
	2022	2021
1 - 10 years	16%	17%
11 - 20 years	40%	39%
21 - 30 years	26%	24%
31 - 40 years	18%	20%


	Machinery, Equipment, and Other
	2022	2021
1 - 5 years	49%	49%
6 - 10 years	41%	41%
11 - 20 years	10%	10%