Note 10 - Property, Plant and Equipment, Net of Accumulated Depreciation

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

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

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

	June 30, 2015		December 31, 2014
Land	$	449	$	458
Buildings		5,470		5,470
Equipment		14,218		13,848
Construction in progress		1,316		1,322
		21,453		21,098
Accumulated depreciation		(8,784)		(8,332)
Total	$	12,669	$	12,766

In the three months ended June 30, 2015 and 2014, interest costs capitalized as part of Property, plant and equipment, net of accumulated depreciation, were $10 million and $11 million, respectively.  In the six months ended June 30, 2015 and 2014, interest costs capitalized as part of Property, plant and equipment, net of accumulated depreciation, were $21 million and $22 million, respectively.

Manufacturing equipment includes certain components of production equipment that are constructed of precious metals.  At June 30, 2015 and December 31, 2014, the recorded value of precious metals totaled $3.0 billion and $3.1 billion, respectively.  Depletion expense for precious metals in the three months ended June 30, 2015 and 2014 totaled $5 million in both periods.  Depletion expense for precious metals in the six months ended June 30, 2015 and 2014 totaled $12 million and $13 million, respectively.