v3.26.1
Property, Plant, and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant, and Equipment, Net PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment consisted of the following amounts:
(DOLLARS IN MILLIONS)June 30, 2026December 31, 2025
Asset Type
Land$61 $62 
Buildings and improvements1,377 1,359 
Machinery and equipment2,591 2,506 
Information technology630 594 
Construction in process263 318 
Total Property, plant and equipment4,922 4,839 
Accumulated depreciation(2,256)(2,154)
Total Property, plant and equipment, net$2,666 $2,685 
Depreciation expense was $72 million and $64 million for the three months ended June 30, 2026 and 2025, respectively, and $140 million and $126 million for the six months ended June 30, 2026 and 2025, respectively.
Interest incurred during the construction period of certain property, plant and equipment is capitalized until the underlying assets are placed in service, at which time straight-line amortization of the capitalized interest begins over the estimated useful lives of the related assets. Capitalized interest was approximately $3 million for the three months ended June 30, 2026 and 2025, and approximately $7 million and $6 million for the six months ended June 30, 2026 and 2025.