Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment is stated on the basis of cost. Provisions for depreciation of buildings and equipment are computed generally by the straight-line method at rates based on their estimated useful lives (12 to 50 years for buildings and 3 to 25 years for equipment). We review the carrying value of long-lived assets for potential impairment on a periodic basis and whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. Impairment is determined by comparing projected undiscounted cash flows to be generated by the asset to its carrying value. If an impairment is identified, a loss is recorded equal to the excess of the asset's carrying value over its fair value utilizing a discounted cash flow analysis, and the cost basis is adjusted.

At December 31, property and equipment consisted of the following:

	2022		2021
Land	$	40	$	42
Buildings	578		543
Equipment	941		1,354
Construction in progress	163		157
	1,722		2,096
Less accumulated depreciation	(723)		(1,041)
Property and equipment, net	$	999	$	1,055

The following provides property and equipment, less accumulated depreciation by geographic area:

	2022		2021
United States	$	554	$	557
Germany	224		211
United Kingdom	3		59
France	52		54
Other foreign countries	166		174
Property and equipment, net	$	999	$	1,055

Depreciation expense related to property and equipment was as follows:

	2022		2021		2020
Depreciation expense	$	89	$	108	$	122