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Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT (Tables)

v3.20.4
PROPERTY, PLANT AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract] Ìý
Property Plant and Equipment [Table Text Block] Depreciation and depletion are recorded over the following estimated useful lives:
Asset Class Basis Life
Land, land improvements and mineral rights
Land and mineral rights Units of production Life of mine
Land improvements Straight line
20 to 45 years
Buildings Straight line
20 to 45 years
Equipment Straight line/Double declining balance
3 to 20 years
The following table indicates the carrying value of each of the major classes of our depreciable assets:
(In Millions)
December 31,
2020 2019
Land, land improvements, and mineral rights $ 1,213Ìý $ 582Ìý
Buildings 703Ìý 158Ìý
Equipment 6,786Ìý 1,456Ìý
Other 151Ìý 101Ìý
Construction in progress 1,364Ìý 730Ìý
Total property, plant and equipment1
10,217Ìý 3,027Ìý
Allowance for depreciation and depletion (1,474) (1,098)
Property, plant, and equipment, net $ 8,743Ìý $ 1,929Ìý
1 Includes right-of-use assets related to finance leases of $361 million and $49 million as of DecemberÌý31, 2020 and 2019, respectively.
The net book value of the mineral and land rights are as follows:
(In Millions)
December 31,
2020 2019
Mineral rights:
Cost $ 773Ìý $ 537Ìý
Depletion (142) (134)
Net mineral rights $ 631Ìý $ 403Ìý
Land rights $ 361Ìý $ 12Ìý