Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	As of December 31,
	2014			2013
	(in millions)
Land and land improvements	$	574		$	617
Buildings and building improvements		3,117			3,270
Machinery and equipment		11,737			12,351
Construction in progress		1,484			1,376
		16,912			17,614
Accumulated depreciation		(7,085	)		(7,367	)
Property, plant and equipment, net	$	9,827		$	10,247

In connection with our 2012-2014 Restructuring Program and 2014-2018 Restructuring Program (see Note 6, Restructuring Programs), we recorded non-cash asset write-downs (including accelerated depreciation and asset impairments) of $173 million in 2014 and $89 million in 2013. These charges were recorded in the consolidated statements of earnings within asset impairment and exit costs as follows and arose from restructuring activities further described in Note 6, Restructuring Programs.

	For the Years Ended December 31,
	2014		2013
	(in millions)
Latin America	$	14	$	–
Asia Pacific		23		2
EEMEA		16		–
Europe		37		27
North America		83		60
Total non-cash asset write-downs	$	173	$	89