XML 68 R34.htm IDEA: XBRL DOCUMENT v3.25.4
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Estimated Useful Lives 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)20252024
Land, land improvements and mineral rights$1,463 $1,451 
Buildings1,205 1,104 
Equipment11,630 11,119 
Other357 349 
Construction in progress655 728 
Total property, plant and equipment1
15,310 14,751 
Allowance for depreciation and depletion(5,829)(4,809)
Property, plant and equipment, net$9,481 $9,942 
1 Includes right-of-use assets related to finance leases of $576 million and $505 million as of December 31, 2025 and 2024, respectively.
The net book value of the mineral and land rights are as follows:
December 31,
(In millions)20252024
Mineral rights:
Cost$783 $783 
Depletion(301)(287)
Net mineral rights$482 $496 
Land rights$457 $467