PROPERTY, PLANT AND EQUIPMENT
 9 Months Ended
Sep. 30, 2015
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPTMENT
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following (in millions):
 
September 30,
2015
December 31, 2014
Land
$
193

$
196

Buildings and leasehold improvements
778

789

Machinery and equipment
3,435

3,405

Construction in progress
296

233

 
4,702

4,623

Accumulated depreciation
(1,817
)
(1,724
)
Property, plant and equipment, net
$
2,885

$
2,899


Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 16% and 15% of total machinery and equipment as of September 30, 2015, and December 31, 2014, 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 less than 3% of the outstanding carrying value.