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Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

v3.23.1
PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract] Ìý
PROPERTY, PLANT AND EQUIPMENT
NOTE 5 - PROPERTY, PLANT AND EQUIPMENT
The following table indicates the carrying value of each of the major classes of our depreciable assets:
(In millions) March 31,
2023		 December 31,
2022
Land, land improvements and mineral rights $ 1,390Ìý $ 1,388Ìý
Buildings 927Ìý 921Ìý
Equipment 9,359Ìý 9,289Ìý
Other 244Ìý 238Ìý
Construction in progress 580Ìý 552Ìý
Total property, plant and equipment1
12,500Ìý 12,388Ìý
Allowance for depreciation and depletion (3,550) (3,318)
Property, plant and equipment, net $ 8,950Ìý $ 9,070Ìý
1 Includes right-of-use assets related to finance leases of $424 million and $408 million as of MarchÌý31, 2023 and DecemberÌý31, 2022, respectively.
We recorded depreciation and depletion expense of $239 million and $298 million for the three months ended MarchÌý31, 2023 and 2022, respectively. Depreciation and depletion expense for the three months ended MarchÌý31, 2022 includes $68Ìýmillion of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace.