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Property, Plant, and Equipment
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment consisted of the following amounts:
(DOLLARS IN MILLIONS)March 31, 2024December 31, 2023
Asset Type
Land$192 $195 
Buildings and improvements1,805 1,822 
Machinery and equipment3,754 3,752 
Information technology496 473 
Construction in process366 400 
Total Property, plant and equipment6,613 6,642 
Accumulated depreciation(2,468)(2,402)
Total Property, plant and equipment, net$4,145 $4,240 
Depreciation expense was $110 million and $105 million for the three months ended March 31, 2024 and 2023, respectively.
Interest incurred during the construction period of certain property, plant and equipment is capitalized until the underlying assets are placed in service, at which time straight-line amortization of the capitalized interest begins over the estimated useful lives of the related assets. Capitalized interest was approximately $4 million for each of the three months ended March 31, 2024 and 2023.