Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Note 4. Property, Plant and Equipment

Property, plant and equipment at December 31, 2013 and 2012 were:


	2013			2012
	(in millions)

Land and land improvements	$	617		$	643
Buildings and building improvements		3,270			3,199
Machinery and equipment		12,351			11,992
Construction in progress		1,376			1,022

		17,614			16,856
Accumulated depreciation		(7,367	)		(6,846	)

Property, plant and equipment, net	$	10,247		$	10,010

In connection with our 2012-2014 Restructuring Program, we recorded non-cash asset write-downs (including accelerated depreciation and asset impairments) of $91 million in 2013 and $18 million in 2012. These charges were recorded in the consolidated statements of earnings within asset impairment and exit costs and are further described in Note 6, 2012-2014 Restructuring Program.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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