Property, plant and equipment and assets held for lease

3 Months Ended

Mar. 31, 2014

Property, plant and equipment and assets held for lease

Note 11. Property, plant and equipment and assets held for lease

A summary of property, plant and equipment of our insurance and other businesses follows (in millions).

	Ranges of estimated useful life	March 31, 2014		December 31, 2013
Land	—	$	1,104	$	1,098
Buildings and improvements	2 – 40 years		6,308		6,244
Machinery and equipment	3 – 25 years		16,136		15,984
Furniture, fixtures and other	2 – 15 years		2,924		2,748
			26,472		26,074
Accumulated depreciation			(12,674)		(12,451)
		$	13,798	$	13,623

Depreciation expense of insurance and other businesses for the first quarter of 2014 and 2013 was $397 million and $400 million, respectively.

A summary of property, plant and equipment of our railroad and our utilities and energy businesses follows (in millions).

	Ranges of estimated useful life	March 31, 2014		December 31, 2013
Railroad:
Land	—	$	5,973	$	5,973
Track structure and other roadway	5 – 100 years		40,525		40,098
Locomotives, freight cars and other equipment	5 – 40 years		7,996		7,551
Construction in progress	—		971		973
Utilities and energy:
Utility generation, distribution and transmission system	5 – 80 years		57,903		57,490
Interstate pipeline assets	3 – 80 years		6,498		6,448
Independent power plants and other assets	3 – 30 years		2,999		2,516
Construction in progress	—		4,247		4,217
			127,112		125,266
Accumulated depreciation			(23,604)		(22,784	)
		$	103,508	$	102,482

Railroad property, plant and equipment includes the land, other roadway, track structure and rolling stock (primarily locomotives and freight cars) of BNSF. The utility generation, distribution and transmission system and interstate pipeline assets are the regulated assets of public utility and natural gas pipeline subsidiaries. Depreciation expense of the railroad, utilities and energy businesses for the first quarter of 2014 and 2013 was $947 million and $795 million, respectively.

Assets held for lease and other property, plant and equipment of our finance and financial products businesses are summarized below (in millions).

	Ranges of estimated useful life	March 31, 2014		December 31, 2013
Assets held for lease	6 – 30 years	$	9,651	$	9,509
Land	—		232		233
Buildings, machinery and other	3 – 50 years		1,159		1,146
			11,042		10,888
Accumulated depreciation			(3,268)		(3,188	)
		$	7,774	$	7,700

Depreciation expense of the finance and financial products businesses for the first quarter of 2014 and 2013 was $148 million and $142 million, respectively.