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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment  
Property, Plant and Equipment

8.  Property, Plant and Equipment

 

 

 

 

 

 

 

 

 

 

December 31,

($ in millions)

    

2017

    

2016

 

 

 

 

 

 

 

Land

 

$

172

 

$

105

Buildings

 

 

1,390

 

 

1,301

Machinery and equipment

 

 

5,282

 

 

4,723

Construction-in-progress

 

 

542

 

 

503

 

 

 

7,386

 

 

6,632

Accumulated depreciation

 

 

(2,776)

 

 

(2,245)

 

 

$

4,610

 

$

4,387

 

Property, plant and equipment are stated at historical or acquired cost. Depreciation expense amounted to $509 million,  $349 million and $247 million for the years ended December 31, 2017, 2016 and 2015, respectively. Noncash investing activities include the acquisition of property, plant and equipment that has not yet been paid. These noncash capital expenditures are excluded from the statement of cash flows and were $124 million for the year ended December 31, 2017.