Property, Plant and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

(5) Property, Plant and Equipment

Property, plant and equipment consisted of the following:

(in millions)	September 30, 2019		December 31, 2018
Machinery and equipment	$	3,830	$	3,785
Buildings and improvements	87		87
Land and improvements	46		43
Furniture and fixtures	33		33
ROU finance lease	27		—
Construction in progress	98		102
Other	14		17
	4,135		4,067
Less: Accumulated depreciation	1,779		1,637
Total property, plant and equipment, net	$	2,356	$	2,430

On May 21, 2019, a subsidiary of CVR Energy sold its crude oil storage terminal located in Cushing, Oklahoma and related assets (the “Terminal”). As part of this transaction the Company received cash consideration of $43 million for the Terminal and related crude oil inventories resulting in the recognition of a gain on sale of $9 million. The carrying value of the inventory sold as part of this transaction has been presented on a net basis, with the proceeds on sale, within the net cash used in investing section of the Condensed Consolidated Statements of Cash Flows.