Property, plant and equipment and assets held for lease

9 Months Ended

Sep. 30, 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	September 30, 2014		December 31, 2013
Land	—	$	1,160	$	1,098
Buildings and improvements	2 – 40 years		6,505		6,244
Machinery and equipment	3 – 25 years		16,319		15,984
Furniture, fixtures and other	2 – 15 years		3,182		2,748
			27,166		26,074
Accumulated depreciation			(13,113)		(12,451)
		$	14,053	$	13,623

Depreciation expense attributable to assets of insurance and other businesses for the first nine months of 2014 and 2013 was $1,202 million and $1,206 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	September 30, 2014			December 31, 2013
Railroad:
Land	—	$	5,976		$	5,973
Track structure and other roadway	5 –100 years		41,779			40,098
Locomotives, freight cars and other equipment	5 – 40 years		8,929			7,551
Construction in progress	—		1,198			973
Utilities and energy:
Utility generation, distribution and transmission system	5 – 80 years		59,864			57,490
Interstate pipeline assets	3 – 80 years		6,508			6,448
Independent power plants and other assets	3 – 30 years		4,551			2,516
Construction in progress	—		4,126			4,217
			132,931			125,266
Accumulated depreciation			(25,212	)		(22,784	)
		$	107,719		$	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 nine months of 2014 and 2013 was $2,932 million and $2,403 million, respectively.

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

	Ranges of estimated useful life	September 30, 2014			December 31, 2013
Assets held for lease	6 – 30 years	$	10,061		$	9,509
Land	—		229			233
Buildings, machinery and other	3 – 50 years		1,179			1,146
			11,469			10,888
Accumulated depreciation			(3,439	)		(3,188	)
		$	8,030		$	7,700

Assets held for lease includes railcars, intermodal tank containers, cranes, over-the-road trailers, storage units and furniture. Depreciation expense of the finance and financial products businesses for the first nine months of 2014 and 2013 was $447 million and $427 million, respectively.