Owens Corning
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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Jun 30, 2024 · Filed Aug 6, 2024
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6. Property, Plant and Equipment
- PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following (in millions):
| June 30,2024 | December 31, 2023 | |
|---|---|---|
| Land | $222 | $168 |
| Buildings and leasehold improvements | 1,509 | 1,263 |
| Machinery and equipment | 6,183 | 5,402 |
| Construction in progress | 520 | 665 |
| Property, plant and equipment, gross | 8,434 | 7,498 |
| Accumulated depreciation | (3,794) | (3,657) |
| Property, plant and equipment, net | $4,640 | $3,841 |
Machinery and equipment include certain precious metals used in our production tooling, which comprise approximately 8% and 10% of total machinery and equipment as of June 30, 2024 and December 31, 2023, respectively. Precious metals used in our production tooling are depleted as they are consumed during the production process, which typically represents an annual expense of approximately 2% of the outstanding carrying value.
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