Quarterly report [Sections 13 or 15(d)]

PROPERTY, PLANT AND EQUIPMENT

v3.25.3
PROPERTY, PLANT AND EQUIPMENT
 9 Months Ended
Sep. 30, 2025
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) September 30,
2025		 December 31,
2024
Land, land improvements and mineral rights $ 1,458  $ 1,451 
Buildings 1,172  1,104 
Equipment 11,539  11,119 
Other 358  349 
Construction in progress 604  728 
Total property, plant and equipment1
15,131  14,751 
Allowance for depreciation and depletion (5,623) (4,809)
Property, plant and equipment, net $ 9,508  $ 9,942 
1 Includes right-of-use assets related to finance leases of $581 million and $505 million as of September 30, 2025 and December 31, 2024, respectively.
We recorded depreciation and depletion expense of $268 million and $906 million for the three and nine months ended September 30, 2025, respectively, and $233 million and $687 million for the three and nine months ended September 30, 2024, respectively.
During the second quarter of 2025, the decision to indefinitely idle our Steelton, Conshohocken, and Riverdale facilities occurred. This resulted in a $39 million Asset impairment to Property, plant and equipment, net for the nine months ended September 30, 2025 and accelerated depreciation of $12 million and $131 million for the three and nine months ended September 30, 2025, respectively, included within depreciation and depletion expense.