v3.25.2
Property, Plant, and Equipment, Net
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net
5. Property, Plant and Equipment, Net
A summary of property, plant and equipment is as follows:
June 30, 2025December 31, 2024
Land and buildings$83 $76 
Plant and equipment7676 
Construction in progress5138 
Gross property, plant and equipment210 190 
Less: Accumulated depreciation(93)(90)
Total property, plant and equipment, net$117 $100 
The Company capitalizes interest expense, if material, as part of the cost of construction of property, plant and equipment. Interest expense capitalized was $2 million and $3 million in the three and six months ended June 30, 2025 and $1 million and $1 million in the three and six months ended June 30, 2024, respectively.
Capital expenditures of $1 million and nil were included in accounts payable and accrued expenses at June 30, 2025 and June 30, 2024, respectively.