Property, plant and equipment and assets held for lease

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Property, plant and equipment and assets held for lease

Note 12. 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,  2017			December 31,  2016
Land		—	$	2,226		$	2,108
Buildings and improvements		5 – 40 years		8,631			8,360
Machinery and equipment		3 – 25 years		21,409			20,463
Furniture, fixtures and other		2 – 15 years		4,705			4,080
				36,971			35,011
Accumulated depreciation				(17,025	)		(15,686	)
			$	19,946		$	19,325

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,  2017			December 31,  2016
Railroad:
Land		—	$	6,085		$	6,063
Track structure and other roadway		9 – 100 years		50,789			48,277
Locomotives, freight cars and other equipment		6 – 41 years		12,459			12,075
Construction in progress		—		927			965
				70,260			67,380
Accumulated depreciation				(8,293	)		(6,130	)
				61,967			61,250
Utilities and energy:
Utility generation, transmission and distribution systems		5 – 80 years		73,138			71,536
Interstate natural gas pipeline assets		3 – 80 years		6,991			6,942
Independent power plants and other assets		3 – 30 years		7,176			6,596
Construction in progress		—		3,503			2,098
				90,808			87,172
Accumulated depreciation				(25,829	)		(24,663	)
				64,979			62,509
			$	126,946		$	123,759

The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries.

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,  2017			December 31,  2016
Assets held for lease	5 – 35 years	$	12,287		$	11,902
Land	—		230			224
Buildings, machinery and other	3 – 50 years		1,413			1,302
			13,930			13,428
Accumulated depreciation			(3,993	)		(3,739	)
		$	9,937		$	9,689

A summary of depreciation expense follows (in millions).

	First Nine Months
	2017		2016
Insurance and other	$	1,636	$	1,595
Railroad, utilities and energy		3,604		3,459
Finance and financial products		487		466
	$	5,727	$	5,520