CNH Industrial NV
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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Property, Plant and Equipment
Note 6: Property, Plant and Equipment
A summary of property, plant and equipment as of December 31, 2024 and 2023 is as follows:
| (in millions of dollars) | 2024 | 2023 |
|---|---|---|
| Land and industrial buildings | $1,657 | $1,896 |
| Plant, machinery and equipment | 3,814 | 3,641 |
| Construction in progress | 227 | 276 |
| Other | 433 | 423 |
| Gross property, plant and equipment | 6,131 | 6,236 |
| Accumulated depreciation | (4,195) | (4,323) |
| Net property, plant and equipment | $1,936 | $1,913 |
Property, plant and equipment recorded under capital leases were immaterial as of December 31, 2024 and 2023.
Depreciation expenses on the above property, plant and equipment totaled $235 million, $213 million and $198 million for the years ended December 31, 2024, 2023 and 2022, respectively.
The Company had contractual commitments of $76 million and $207 million for the acquisition of property, plant and equipment at December 31, 2024 and 2023, respectively.
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