Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

v3.23.2
PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 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) June 30,
2023		 December 31,
2022
Land, land improvements and mineral rights $ 1,388  $ 1,388 
Buildings 932  921 
Equipment 9,578  9,289 
Other 247  238 
Construction in progress 510  552 
Total property, plant and equipment1
12,655  12,388 
Allowance for depreciation and depletion (3,777) (3,318)
Property, plant and equipment, net $ 8,878  $ 9,070 
1 Includes right-of-use assets related to finance leases of $467 million and $408 million as of June 30, 2023 and December 31, 2022, respectively.
We recorded depreciation and depletion expense of $246 million and $485 million for the three and six months ended June 30, 2023, respectively, and $249 million and $547 million for the three and six months ended June 30, 2022, respectively. Depreciation and depletion expense for both the three and six months ended June 30, 2022 includes $23 million of accelerated depreciation related to the decision to indefinitely idle the coke facility at Middletown Works. Depreciation and depletion expense for the six months ended June 30, 2022 also includes $68 million of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace.