Property, Plant and Equipment

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	As of June 30, 2023		As of December 31, 2022
	(in millions)
Land and land improvements	$	379	$	378
Buildings and building improvements	3,375		3,250
Machinery and equipment	12,298		11,724
Construction in progress	915		879
	16,967		16,231
Accumulated depreciation	(7,659)		(7,211)
Property, plant and equipment, net	$	9,308	$	9,020

For the six months ended June 30, 2023, capital expenditures of $495 million excluded $305 million of accrued capital expenditures remaining unpaid at June 30, 2023 and included payment for the $324 million of capital expenditures that were accrued and unpaid at December 31, 2022. For the six months ended June 30, 2022, capital expenditures of $385 million excluded $239 million of accrued capital expenditures remaining unpaid at June 30, 2022 and included payment for the $249 million of capital expenditures that were accrued and unpaid at December 31, 2021.