PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT

The following table indicates the carrying value of each of the major classes of our depreciable assets:

(In millions)	March 31, 2023		December 31, 2022
Land, land improvements and mineral rights	$	1,390	$	1,388
Buildings	927		921
Equipment	9,359		9,289
Other	244		238
Construction in progress	580		552
Total property, plant and equipment1	12,500		12,388
Allowance for depreciation and depletion	(3,550)		(3,318)
Property, plant and equipment, net	$	8,950	$	9,070
1 Includes right-of-use assets related to finance leases of $424 million and $408 million as of March 31, 2023 and December 31, 2022, respectively.

We recorded depreciation and depletion expense of $239 million and $298 million for the three months ended March 31, 2023 and 2022, respectively. Depreciation and depletion expense for the three months ended March 31, 2022 includes $68 million of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace.