Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

v3.23.3
PROPERTY, PLANT AND EQUIPMENT
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
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) September 30,
2023		 December 31,
2022
Land, land improvements and mineral rights $ 1,388  $ 1,388 
Buildings 934  921 
Equipment 9,652  9,289 
Other 253  238 
Construction in progress 611  552 
Total property, plant and equipment1
12,838  12,388 
Allowance for depreciation and depletion (4,001) (3,318)
Property, plant and equipment, net $ 8,837  $ 9,070 
1 Includes right-of-use assets related to finance leases of $485 million and $408 million as of September 30, 2023 and December 31, 2022, respectively.
We recorded depreciation and depletion expense of $247 million and $732 million for the three and nine months ended September 30, 2023, respectively, and $235 million and $782 million for the three and nine months ended September 30, 2022, respectively. Depreciation and depletion expense for the nine months ended September 30, 2022 includes $23 million of accelerated depreciation related to the decision to indefinitely idle the coke facility at Middletown Works and $68 million of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace.