Property, plant and equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property, plant and equipment

Note 12. Property, plant and equipment

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

	Range of  estimated useful life		September 30,  2016		December 31,  2015
Land		—	$	2,128	$	1,689
Buildings and improvements		5 – 40 years		8,315		7,329
Machinery and equipment		3 – 25 years		20,103		17,054
Furniture, fixtures and other		2 – 15 years		4,419		3,545
				34,965		29,617
Accumulated depreciation				(15,639)		(14,077)
			$	19,326	$	15,540

Property, plant and equipment at September 30, 2016 included approximately $3.3 billion related to PCC and Duracell.

A summary of property, plant and equipment of our railroad and our utilities and energy businesses follows (in millions). The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries.

	Range of   estimated useful life		September 30,  2016		December 31,  2015
Railroad:
Land		—	$	6,060	$	6,037
Track structure and other roadway		7 – 100 years		47,586		45,967
Locomotives, freight cars and other equipment		6 – 40 years		11,860		11,320
Construction in progress		—		1,064		1,031
				66,570		64,355
Accumulated depreciation				(5,673)		(4,845)
			$	60,897	$	59,510
Utilities and energy:
Utility generation, transmission and distribution systems		5 – 80 years	$	70,316	$	69,248
Interstate natural gas pipeline assets		3 – 80 years		6,866		6,755
Independent power plants and other assets		3 – 30 years		6,056		5,626
Construction in progress		—		3,175		2,627
				86,413		84,256
Accumulated depreciation				(24,305)		(23,487)
			$	62,108	$	60,769

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

	Range of   estimated useful life		September 30,  2016		December 31,  2015
Assets held for lease		5 – 35 years	$	11,906	$	11,317
Land		—		223		220
Buildings, machinery and other		3 – 50 years		1,289		1,207
				13,418		12,744
Accumulated depreciation				(3,681)		(3,397)
			$	9,737	$	9,347

A summary of depreciation expense follows (in millions).

	First Nine Months
	2016		2015
Insurance and other	$	1,595	$	1,240
Railroad, utilities and energy		3,459		3,276
Finance and financial products		466		447
	$	5,520	$	4,963