Property, Plant And Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant And Equipment [Abstract]

Property, Plant And Equipment

(5) Property, Plant and Equipment:

Property, plant and equipment, net is as follows:

($ in millions)	March 31, 2023		December 31, 2022
Property, plant and equipment	$	14,330	$	13,186
Less: Accumulated depreciation		(1,582)		(1,336)
Property, plant and equipment, net	$	12,748	$	11,850

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

($ in millions)	For the three months ended March 31, 2023		For the three months ended March 31, 2022
Depreciation expense	$	250	$	204

As of March 31, 2023, our materials and supplies were $658 million, as compared to $546 million as of December 31, 2022. Components of this include fiber, network electronics, and customer premises equipment.

During the three months ended March 31, 2023, our capital expenditures were $1,154 million which included a decrease of $25 million due to changes in accounts payable from December 31, 2022. As of March 31, 2023 there was $957 million in accounts payable associated with capital expenditures. For the three months ended March 31, 2023, we had capitalized interest of $17 million.