日韩三级片 Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

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Property, Plant and Equipment

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT

The following table indicates the carrying value of each of the major classes of our depreciable assets:


	December 31,
(In millions)	2023		2022
Land, land improvements and mineral rights	$	1,389听	$	1,388听
Buildings	946听		921听
Equipment	9,680听		9,289听
Other	302听		238听
Construction in progress	590听		552听
Total property, plant and equipment1	12,907听		12,388听
Allowance for depreciation and depletion	(4,012)		(3,318)
Property, plant and equipment, net	$	8,895听	$	9,070听

1 Includes right-of-use assets related to finance leases of $306 million and $408 million as of December听31, 2023 and 2022, respectively.

We recorded depreciation expense of $932 million, $988 million and $848 million for the years ended December听31, 2023, 2022 and 2021, respectively. Depreciation expense for the year ended December 31, 2022 includes $23听million of accelerated depreciation related to the decision to indefinitely idle the coke facility at Middletown Works and $68听million of accelerated depreciation related to the indefinite idle of the Indiana Harbor #4 blast furnace.

During the year ended December 31, 2022, we announced the permanent closure of Mountain State Carbon, which resulted in a $29听million asset impairment charge.

The net book value of the mineral and land rights are as follows:


	December 31,
(In millions)	2023		2022
Mineral rights:
Cost	$	783听	$	780听
Depletion	(258)		(225)
Net mineral rights	$	525听	$	555听

Land rights	$	427听	$	434听

We recorded depletion expense of $33 million, $38 million and $46 million for the years ended December听31, 2023, 2022, and 2021, respectively.