Quarterly report [Sections 13 or 15(d)]

PROPERTY, PLANT AND EQUIPMENT

v3.26.1
PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 2026
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) June 30,
2026		 December 31,
2025
Land, land improvements and mineral rights $ 1,462  $ 1,463 
Buildings 1,197  1,205 
Equipment 11,800  11,630 
Other 341  357 
Construction in progress 688  655 
Total property, plant and equipment1
15,488  15,310 
Allowance for depreciation and depletion (6,249) (5,829)
Property, plant and equipment, net $ 9,239  $ 9,481 
1 Includes right-of-use assets related to finance leases of $573 million and $576 million as of June 30, 2026 and December 31, 2025, respectively.
We recorded depreciation and depletion expense of $244 million and $483 million for the three and six months ended June 30, 2026, respectively, and $374 million and $638 million for the three and six months ended June 30, 2025, respectively.
During the second quarter of 2025, we decided to indefinitely idle our Steelton, Conshohocken, and Riverdale facilities. As a result, a $39 million Asset impairment was recorded to Property, plant and equipment, net and accelerated depreciation of $119 million was recorded for both the three and six months ended June 30, 2025, included within depreciation and depletion expense.