PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Forest Products property and equipment includes land, buildings and improvements, machinery and equipment, roads and other items.

Carrying Value of Forest Products Property and Equipment and Estimated Service Lives



DOLLAR AMOUNTS IN MILLIONS
	RANGE OF LIVES	DECEMBER 31, 2012			DECEMBER 31, 2011
Property and equipment, at cost:
Land	N/A	$	128		$	142
Buildings and improvements	10–40	1,317			1,405
Machinery and equipment	2–25	6,896			7,036
Roads	10–20	549			537
Other	3–10	319			331
Total cost		9,209			9,451
Allowance for depreciation and amortization		(6,350		)	(6,550		)
Property and equipment, net		$	2,859		$	2,901

SERVICE LIVES AND DEPRECIATION

Buildings and improvements for Forest Products property and equipment have estimated lives that are generally at either the high end or low end of the range from 10 years to 40 years, depending on the type and performance of construction.

The maximum service lives for Forest Products machinery and equipment varies among our operations:


•	Timberlands — 15 years;


•	Wood products manufacturing facilities — 20 years; and


•	Primary pulp mills — 25 years.

Forest Products depreciation expense, excluding discontinued operations, was:


•	$332 million in 2012,


•	$361 million in 2011 and


•	$391 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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