Fixed Assets

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Fixed Assets, Net

NOTE 9: FIXED ASSETS, NET

Fixed assets, net, consisted of the following:

(dollars in millions)	Estimated Useful Lives	2022		2021
Land		$	744	$	765
Buildings and improvements	10-45 years	7,519		7,271
Machinery, tools and equipment	3-20 years	17,479		16,729
Other, including assets under construction		3,374		2,872
Fixed assets, gross		29,116		27,637
Accumulated depreciation		(13,946)		(12,665)
Fixed assets, net		$	15,170	$	14,972

Leasehold improvements are amortized over the lesser of the remaining lease term or the estimated useful life of the improvement.

Depreciation expense related to Fixed assets, net is recorded predominantly utilizing the straight-line method and was $1,843 million in 2022, $1,828 million in 2021 and $1,767 million in 2020.