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Note 7: Fixed Assets

12 Months Ended

Dec. 31, 2012

Notes to Consolidated Financial Statements [Abstract]

(Dollars in millions)	Estimated Useful Lives	2012		2011
Land		$	433	$	335
Buildings and improvements	12-40 years		5,436		4,885
Machinery, tools and equipment	3-20 years		10,880		9,994
Other, including assets under construction			1,316		766

			18,065		15,980
Accumulated depreciation			(9,547)		(9,779)

		$	8,518	$	6,201

Depreciation expense was $920 million in 2012, $823 million in 2011 and $863 million in 2010.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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