PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT

The following table indicates the carrying value of each of the major classes of our depreciable assets:

	(In Millions)
	September 30, 2022		December 31, 2021
Land, land improvements and mineral rights	$	1,396	$	1,291
Buildings	914		889
Equipment	9,042		8,709
Other	232		229
Construction in progress	534		408
Total property, plant and equipment1	12,118		11,526
Allowance for depreciation and depletion	(3,088)		(2,340)
Property, plant and equipment, net	$	9,030	$	9,186
1 Includes right-of-use assets related to finance leases of $389 million and $411 million as of September 30, 2022 and December 31, 2021, respectively.

We recorded depreciation and depletion expense of $235 million and $782 million for the three and nine months ended September 30, 2022, respectively, and $238 million and $661 million for the three and nine months ended September 30, 2021, respectively. Depreciation and depletion expense for the nine months ended September 30, 2022 includes $23 million of accelerated depreciation related to the decision to indefinitely idle the coke facility at Middletown Works and $68 million of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace.