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Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

v3.24.2
PROPERTY, PLANT AND EQUIPMENT
6 Months Ended
Jun. 30, 2024
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) June 30,
2024
December 31,
2023
Land, land improvements and mineral rights $ 1,389Ìý $ 1,389Ìý
Buildings 937Ìý 946Ìý
Equipment 9,822Ìý 9,680Ìý
Other 314Ìý 302Ìý
Construction in progress 645Ìý 590Ìý
Total property, plant and equipment1
13,107Ìý 12,907Ìý
Allowance for depreciation and depletion (4,379) (4,012)
Property, plant and equipment, net $ 8,728Ìý $ 8,895Ìý
1 Includes right-of-use assets related to finance leases of $347 million and $306 million as of JuneÌý30, 2024 and DecemberÌý31, 2023, respectively.
We recorded depreciation and depletion expense of $227 million and $454 million for the three and six months ended JuneÌý30, 2024, respectively, and $246 million and $485 million for the three and six months ended JuneÌý30, 2023, respectively.
During the first quarter of 2024, we announced the indefinite idle of our Weirton tinplate production plant, which resulted in a $46Ìýmillion impairment charge to Property, plant and equipment, net.