Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

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				2023		2022
Land and improvements	3	-	15	years	$	369	$	331
Buildings and improvements			30	years		802		779
Machinery and equipment	3	-	20	years		2,120		2,027
Vessels and vehicles	3	-	18	years		398		373
Office furniture and fixtures			5	years		45		43
Contract growers	5	-	15	years		156		151
Construction in progress						476		286
Total property, plant and equipment						4,366		3,990
Accumulated depreciation and amortization						(1,956)		(1,744)
Net property, plant and equipment					$	2,410	$	2,246

Seaboard’s capitalized interest on construction in progress was $17 million, $4 million and $7 million for the years ended December 31, 2023, 2022 and 2021, respectively.