Property, plant and equipment including equipment held for lease

3 Months Ended

Mar. 31, 2019

Property, plant and equipment including equipment held for lease

Note 10. Property, plant and equipment

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

	March 31, 2019			December 31, 2018
Land	$	2,549		$	2,536
Buildings and improvements		10,128			9,959
Machinery and equipment		22,682			22,574
Furniture, fixtures and other		5,049			4,758
		40,408			39,827
Accumulated depreciation		(19,583	)		(19,199	)
	$	20,825		$	20,628

A summary of property, plant and equipment of railroad and 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, 2019			December 31, 2018
Railroad:
Land, track structure and other roadway	$	60,328		$	59,509
Locomotives, freight cars and other equipment		13,185			13,016
Construction in progress		574			664
		74,087			73,189
Accumulated depreciation		(10,865	)		(10,004	)
		63,222			63,185
Utilities and energy:
Utility generation, transmission and distribution systems		77,659			77,288
Interstate natural gas pipeline assets		7,547			7,524
Independent power plants and other assets		8,318			8,324
Construction in progress		3,388			3,110
		96,912			96,246
Accumulated depreciation		(27,964	)		(27,651	)
		68,948			68,595
	$	132,170		$	131,780

Depreciation expense for the first quarter of 2019 and 2018 is summarized below (in millions).

	2019		2018
Insurance and other	$	542	$	535
Railroad, utilities and energy		1,256		1,225
	$	1,798	$	1,760

Equipment held for lease [Member]

Property, plant and equipment including equipment held for lease

Note 11. Equipment held for lease

Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. Equipment held for lease is summarized below (in millions).

	March 31, 2019			December 31, 2018
Railcars	$	8,992		$	8,862
Aircraft		7,485			7,376
Other equipment held for lease		4,478			4,379
		20,955			20,617
Accumulated depreciation		(6,526	)		(6,319	)
	$	14,429		$	14,298

Depreciation expense for equipment held for lease in the first quarter was $286 million in 2019 and $275 million in 2018.