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Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2017
Property, Plant and Equipment  
Property, Plant and Equipment

8.     Property, Plant and Equipment

 

 

 

 

 

 

 

 

 

 

September 30,

 

December 31,

($ in millions)

    

2017

    

2016

 

 

 

 

 

 

 

Land

 

$

173

 

$

105

Buildings

 

 

1,377

 

 

1,301

Machinery and equipment

 

 

5,075

 

 

4,723

Construction-in-progress

 

 

549

 

 

503

 

 

 

7,174

 

 

6,632

Accumulated depreciation

 

 

(2,649)

 

 

(2,245)

 

 

$

4,525

 

$

4,387

 

Property, plant and equipment are stated at historical or acquired cost. Depreciation expense amounted to $113 million and $373 million for the third quarter and first nine months of 2017, respectively, and $105 million and $237 million for the comparable periods in 2016, respectively. During 2017, cumulative catch-up depreciation recorded as a result of changes in the values and useful lives of fixed assets associated with the finalization of the valuation for the Rexam acquisition was $19 million related to last six months of 2016.