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

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

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,
	2016			2015
Land	$	435		$	438
Buildings		5,540			5,504
Equipment		14,973			14,688
Construction in progress		1,482			1,206
		22,430			21,836
Accumulated depreciation		(9,884	)		(9,188	)
Total	$	12,546		$	12,648

Approximately

$23

million,

$35

million and

$40

million of interest costs were capitalized as part of property, plant and equipment, net of accumulated depreciation, in

2016,

2015

and

2014,

respectively.

Manufacturing equipment includes certain components of production equipment that are constructed of precious metals. At

December

31,

2016

and

2015,

the recorded value of precious metals totaled

$3

billion in each period. Depletion expense for precious metals in the years ended

December

31,

2016,

2015

and

2014

was

$20

million,

$19

million and

$21

million, respectively.