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Property, Plant and Equipment (Tables)
12 Months Ended
Dec. 31, 2024
Property Plant And Equipment [Abstract]  
Schedule of Property, Plant and Equipment

Property, plant and equipment is carried at historical cost, net of accumulated depreciation. Net property, plant and equipment by major asset class consisted of the following (in millions):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Land and improvements, net

 

$

1,257

 

 

$

1,183

 

Buildings and improvements

 

 

2,764

 

 

 

2,551

 

Machinery and equipment

 

 

17,431

 

 

 

16,328

 

Proved oil and gas properties

 

 

559

 

 

 

559

 

Leasehold interest in unproved oil and gas properties

 

 

96

 

 

 

96

 

Construction in process and equipment deposits

 

 

3,758

 

 

 

2,122

 

 

 

25,865

 

 

 

22,839

 

Less accumulated depreciation

 

 

(12,622

)

 

 

(11,789

)

 

$

13,243

 

 

$

11,050