Property, Plant And Equipment

6 Months Ended

Jun. 30, 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)	June 30, 2023		December 31, 2022
Property, plant and equipment	$	15,180	$	13,186
Less: Accumulated depreciation		(1,827)		(1,336)
Property, plant and equipment, net	$	13,353	$	11,850

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

	For the three months ended ‎June 30,				For the six months ended ‎June 30,
($ in millions)	2023		2022		2023		2022
Depreciation expense	$	273	$	211	$	523	$	414

As of June 30, 2023, our materials and supplies were $596 million, as compared to $546 million as of December 31, 2022. Components of this include fiber, network electronics, and customer premises equipment.

During the six months ended June 30, 2023, our capital expenditures were $2,211 million which included a decrease of $218 million due to changes in accounts payable from December 31, 2022. As of June 30, 2023 there was $764 million in accounts payable associated with capital expenditures. For the six months ended June 30, 2023, we had capitalized interest of $39 million.