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PROPERTY, PLANT AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Summary of Carrying Value of Each Major Class of Depreciable Assets Depreciation and depletion are recorded over the following estimated useful lives:
Asset ClassBasisLife
Land, land improvements and mineral rights
Land and mineral rightsUnits of productionLife of mine
Land improvementsStraight line
20 to 45 years
BuildingsStraight line
20 to 45 years
EquipmentStraight line/Double declining balance
3 to 45 years
The following table indicates the carrying value of each of the major classes of our depreciable assets:
December 31,
(In millions)20242023
Land, land improvements and mineral rights$1,451 $1,389 
Buildings1,104 946 
Equipment11,119 9,680 
Other349 302 
Construction in progress728 590 
Total property, plant and equipment1
14,751 12,907 
Allowance for depreciation and depletion(4,809)(4,012)
Property, plant and equipment, net$9,942 $8,895 
1 Includes right-of-use assets related to finance leases of $505 million and $306 million as of December 31, 2024 and 2023, respectively.
The net book value of the mineral and land rights are as follows:
December 31,
(In millions)20242023
Mineral rights:
Cost$783 $783 
Depletion(287)(258)
Net mineral rights$496 $525 
Land rights$467 $427