PROPERTY, BUILDINGS AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, BUILDINGS AND EQUIPMENT

PROPERTY, BUILDINGS AND EQUIPMENT

Grainger's property, buildings and equipment consisted of the following (in millions of dollars):

	As of
	December 31, 2023		December 31, 2022
Land and land improvements	$	397	$	318
Building, structures and improvements	1,469		1,463
Furniture, fixtures, machinery and equipment	1,852		1,662
Property, buildings and equipment	$	3,718	$	3,443
Less accumulated depreciation and amortization	2,060		1,982
Property, buildings and equipment – net	$	1,658	$	1,461

Depreciation expense on property, buildings and equipment was $146 million, $139 million and $123 million for the years ended December 31, 2023, 2022 and 2021, respectively.