10.10 Projecting Property, Plant, and Equipment. LO 10-2 Intel is a global leader in manufacturing microprocessors, which is very capital- intensive. The production processes in microprocessor manufacturing require sophisticated technology, and the technology changes rapidly, particularly with each new generation of microprocessor. As a consequence, production and manufacturing assets in the microprocessor industry tend to have relatively short useful lives. Assume the following hypothetical information relates to Intel's property, plant, and equipment for 2021 and 2022: Intel (amounts in millions) Property, plant, and equipment, at cost Accumulated depreciation Property, plant, and equipment, net Depreciation expense Capital expenditures, net + 2021 2022 $79,709 $(46,471) $ 83,396 $(51,538) $33,238 $31,858 $ 7,821 $ 7,326