Property, Plant And Equipment

3 Months Ended

Mar. 31, 2018

Property, Plant And Equipment [Abstract]

(5) Property, Plant and Equipment:

Property, plant and equipment, net is as follows:



($ in millions)	March 31, 2018		December 31, 2017

Property, plant and equipment	$	26,786	$	26,496
Less: Accumulated depreciation		(12,465)		(12,119)
Property, plant and equipment, net	$	14,321	$	14,377

In 2018, we sold certain properties subject to leaseback, generating $10 million in net proceeds. For these properties, we have deferred $9 million in related gains that will be amortized over the related lease terms of two years.

For the three months ended March 31, 2018, amortization of deferred gains for properties sold in 2017 and 2018 totaled $8 million, which are included in “Selling, general and administrative expenses” on our consolidated statement of operations. We have a remaining deferred gain balance of $44 million, which is included in “Other current liabilities.”

Depreciation expense is principally based on the composite group method. Depreciation expense was as follows:

We adopted new estimated remaining useful lives for certain plant assets as of October 1, 2017, as a result of an annual independent study of the estimated remaining useful lives of our plant assets, with an insignificant impact to depreciation expense.

For the three months ended March 31,

($ in millions)

Depreciation expense