Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment

Property, Plant and Equipment

Note 4 − Property, Plant and Equipment

The following table is a summary of property, plant and equipment:

	Useful				December 31,
(Millions of dollars)	Lives				2022		2021
Land and improvements	3	-	15	years	$	331	$	285
Buildings and improvements			30	years		779		739
Machinery and equipment	3	-	20	years		2,027		1,445
Vessels and vehicles	3	-	18	years		373		214
Office furniture and fixtures			5	years		43		45
Contract growers	5	-	15	years		151		118
Construction in progress						286		613
Total property, plant and equipment						3,990		3,459
Accumulated depreciation and amortization						(1,744)		(1,567)
Net property, plant and equipment					$	2,246	$	1,892

Seaboard’s capitalized interest on construction in progress was $4 million and $7 million for the years ended December 31, 2022 and 2021, respectively.