Property, plant and equipment and assets held for lease (Tables)

3 Months Ended

Mar. 31, 2018

A summary of depreciation expense for the first quarters of 2018 and 2017 follows (in millions).


	First Quarter
	2018		2017
Insurance and other	$	649	$	542
Railroad, utilities and energy		1,225		1,175
Finance and financial products		161		159

	$	2,035	$	1,876

Insurance and Other [Member]

Schedule of property, plant and equipment

A summary of property, plant and equipment of our insurance and other businesses follows (in millions). In conjunction with the adoption of ASC 606, we recorded a net asset of approximately $3.5 billion in aircraft sold under fractional aircraft ownership programs in machinery and equipment. Such amount consisted of cost of approximately $5.3 billion and accumulated depreciation of $1.8 billion. We also recorded other liabilities of approximately $3.5 billion for estimated repurchase obligations and unearned lease revenues, substantially offsetting the amount recorded in machinery and equipment. See Note 2.


	March 31, 2018			December 31, 2017
Land	$	2,310			$ 2,292
Buildings and improvements		8,961			8,810
Machinery and equipment		27,707			21,935
Furniture, fixtures and other		4,493			4,387

		43,471			37,424
Accumulated depreciation		(19,664	)		(17,320	)

	$	23,807			$20,104

Finance and Financial Products [Member]

Schedule of property, plant and equipment

Assets held for lease and property, plant and equipment of our finance and financial products businesses are summarized below (in millions). Assets held for lease includes railcars, intermodal tank containers, cranes, over-the-road trailers, storage units and furniture.


	March 31, 2018				December 31, 2017
Assets held for lease		$	12,337			$	12,318
Land			232				231
Buildings, machinery and other			1,464				1,444

			14,033				13,993
Accumulated depreciation			(4,113	)			(4,062	)

		$	9,920			$	9,931

Railroad, Utilities and Energy [Member]

Schedule of property, plant and equipment

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.


	March 31, 2018			December 31, 2017
Railroad:
Land	$	6,090		$	6,088
Track structure and other roadway		51,652			51,320
Locomotives, freight cars and other equipment		12,600			12,543
Construction in progress		943			989

		71,285			70,940
Accumulated depreciation		(8,954	)		(8,627	)

		62,331			62,313

Utilities and energy:
Utility generation, transmission and distribution systems		75,068			74,660
Interstate natural gas pipeline assets		7,230			7,176
Independent power plants and other assets		7,622			7,499
Construction in progress		2,735			2,556

		92,655			91,891
Accumulated depreciation		(26,601	)		(26,020	)

		66,054			65,871

	$	128,385		$	128,184