Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment, Net.

Property, Plant and Equipment, Net

10.  Property, Plant and Equipment, Net

Property, plant and equipment, net consists of the following:

			December 31,
	Useful Life		2023		2022
	(in years)			(in millions)
Land			$	332	$	331
Buildings and improvements		1 – 40		1,058		964
Machinery, equipment and furniture		1 – 30		6,083		6,034
Assets leased to others		3 – 39		334		321
Financing leases		1 – 10		118		106
Construction in progress				275		210
				8,200		7,966
Less: Accumulated depreciation and amortization				(4,231)		(3,928)
Property, plant and equipment, net			$	3,969	$	4,038

Depreciation and amortization expense related to property, plant and equipment for the years ended December 31, 2023, 2022 and 2021 was $384 million, $384 million and $383 million, respectively.