v3.26.1
Property, Plant, and Equipment, net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant, and Equipment, net 7.  Property, Plant and Equipment, net
Property, plant and equipment consists of the following:
June 30,
December 31,
2026
2025
Land and buildings
$6,041
$5,939
Plant and equipment
25,793
25,118
Construction-in-progress
1,490
1,705
Finance lease right-of-use assets
490
472
Property, plant and equipment at cost, excluding forestlands
33,814
33,234
Less: Accumulated depreciation and impairment
(11,465)
(10,295)
Property, plant and equipment, net, excluding forestlands
22,349
22,939
Forestlands, net of depletion
323
293
Property, plant and equipment, net
$22,672
$23,232
Depreciation and depletion expense for the three months ended June 30, 2026 and 2025 was $639 million, and $575 million,
respectively, and for six months ended June 30, 2026 and 2025, was $1,329 million and $1,144 million, respectively. This is
recognized within “Cost of goods sold” and “Selling, general and administrative expenses” in the Condensed Consolidated Statements
of Operations. Depreciation and depletion expense for the three and six months ended June 30, 2026 includes $1 million and
$71 million, respectively, of accelerated depreciation related to machine closures (three and six months ended June 30, 2025:
$— million).
Non-cash additions to property, plant and equipment included within accounts payable were $296 million and $518 million at June 30,
2026 and December 31, 2025, respectively.