Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

8.  Property, Plant and Equipment, Net

Property, plant and equipment, net consists of the following:

			December 31,
	Useful Life		2020		2019
	(in years)			(in millions)
Land			$	393	$	396
Buildings and improvements		1 - 40		920		901
Machinery, equipment and furniture		2 - 30		5,347		5,272
Assets leased to others		5 - 39		280		289
Financing leases		3 - 18		113		117
Construction in progress				151		147
				7,204		7,122
Less: Accumulated depreciation and amortization				(2,976)		(2,668)
Property, plant and equipment, net			$	4,228	$	4,454

Depreciation and amortization expense related to property, plant and equipment for the years ended December 31, 2020, 2019 and 2018 was $406 million, $410 million and $398 million, respectively.

See Note 5, “Fair Value Measurements,” for discussion regarding certain impairments to our property, plant and equipment.