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Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment are stated at cost. Expenditures for maintenance and repairs are expensed as incurred. Depreciation expense is calculated principally on the straight-line basis. Useful lives determined by the Company are as follows: buildings and improvements (20 - 40 years) and machinery and equipment (3 - 15 years).

Property, plant and equipment, net, consisted of the following at December 31, (in millions):
20222021
Land$76 $82 
Buildings and improvements648 678 
Machinery and equipment2,349 2,387 
3,073 3,147 
Less: Accumulated depreciation(1,889)(1,943)
$1,184 $1,204 
Depreciation expense was $196 million, $205 million and $200 million in 2022, 2021 and 2020, respectively.