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Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2018
Property, Plant and Equipment  
Property, Plant and Equipment

10.     Property, Plant and Equipment, Net

 

 

 

 

 

 

 

 

 

 

September 30,

 

December 31,

($ in millions)

    

2018

    

2017

 

 

 

 

 

 

 

Land

 

$

171

 

$

172

Buildings

 

 

1,324

 

 

1,390

Machinery and equipment

 

 

5,120

 

 

5,282

Construction-in-progress

 

 

567

 

 

542

 

 

 

7,182

 

 

7,386

Accumulated depreciation

 

 

(2,674)

 

 

(2,776)

 

 

$

4,508

 

$

4,610

 

Property, plant and equipment are stated at historical or acquired cost. Depreciation expense amounted to $121 million and $375 million for the three and nine months ended September 30, 2018, respectively, and $113 million and $373 million for the comparable periods in 2017, respectively. During the first nine months of 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, all of which related to the last six months of 2016.