Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

v3.22.1
PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
NOTE 6 - 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,
2022		 December 31,
2021
Land, land improvements and mineral rights $ 1,397  $ 1,291 
Buildings 907  889 
Equipment 8,691  8,709 
Other 233  229 
Construction in progress 414  408 
Total property, plant and equipment1
11,642  11,526 
Allowance for depreciation and depletion (2,630) (2,340)
Property, plant and equipment, net $ 9,012  $ 9,186 
1 Includes right-of-use assets related to finance leases of $371 million and $411 million as of March 31, 2022 and December 31, 2021, respectively.
We recorded depreciation and depletion expense of $298 million and $215 million for the three months ended March 31, 2022 and 2021, respectively. Depreciation and depletion expense for the three months ended March 31, 2022 includes $68 million of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace.