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Fixed Assets

12 Months Ended

Dec. 31, 2013

Notes to Consolidated Financial Statements [Abstract]

FIXED ASSETS



(dollars in millions)	Estimated Useful Lives	2013			2012
Land		$	434		$	433
Buildings and improvements	12-40 years	5,633			5,436
Machinery, tools and equipment	3-20 years	11,353			10,880
Other, including assets under construction		1,241			1,316
		18,661			18,065
Accumulated depreciation		(9,795		)	(9,547		)
		$	8,866		$	8,518

Depreciation expense was $1,050 million in 2013, $920 million in 2012 and $823 million in 2011.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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