PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

The following table summarizes our property, plant and equipment at March 31, 2024 and December 31, 2023:

Millions of dollars	March 31, 2024		December 31, 2023
Land	$	29	$	29
Buildings	940		893
Machinery and equipment	6,593		6,571
Accumulated depreciation	(5,322)		(5,259)
Property, plant and equipment, net	$	2,240	$	2,234

During the three months ended March 31, 2024, we disposed of land, buildings, machinery and equipment with a net book value of $2 million, compared to $1 million in the same period of 2023. The net gain on the disposals was not material for the three months ended March 31, 2024 and 2023, respectively.