Note 9 - Property, Plant and Equipment, Net of Accumulated Depreciation

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

9.      Property, Plant and Equipment, Net of Accumulated Depreciation

Property, plant and equipment, net of accumulated depreciation follow (in millions):

	December 31,
	2014		2013
Land	$	458	$	121
Buildings		5,470		4,175
Equipment		13,848		12,286
Construction in progress		1,322		1,084
		21,098		17,666
Accumulated depreciation		(8,332)		(7,865)
Total	$	12,766	$	9,801

The increase in Property, plant and equipment, net of accumulated depreciation in 2014 is primarily driven by the Acquisition of Samsung Corning Precision Materials, which added $3.6 billion to this balance at acquisition.

Approximately $40 million, $35 million and $74 million of interest costs were capitalized as part of Property, plant and equipment, net of accumulated depreciation, in 2014, 2013 and 2012, respectively.

Manufacturing equipment includes certain components of production equipment that are constructed of precious metals.  At December 31, 2014 and 2013, the recorded value of precious metals totaled $3.1 billion and $2.2 billion, respectively.  Depletion expense for precious metals in the years ended December 31, 2014, 2013 and 2012 was $21 million, $20 million and $20 million, respectively.  The consolidation of Corning Precision Materials added approximately $1.1 billion in precious metals and approximately $4 million of depletion expense for the year ended December 31, 2014.