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Property, Plant & Equipment
 9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Property, plant & equipment
PROPERTY, PLANT & EQUIPMENT
The following table summarizes our property, plant and equipment as of September 30, 2016 and December 31, 2015:
Millions of dollars

September 30,
2016

December 31,
2015
Land

$
134


$
131

Buildings

1,676


1,614

Machinery and equipment

8,225


7,982

Accumulated depreciation

(6,267
)

(5,953
)
Property, plant and equipment, net

$
3,768


$
3,774


During the nine months ended September 30, 2016, we disposed of buildings, machinery and equipment with historical cost of $314 million and related accumulated depreciation $293 million.