Property, Plant and Equipment (Notes)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Property, Plant and Equipment

The components of property, plant and equipment follow:



	Useful Lives	As of December 31,
(MILLIONS OF DOLLARS)	(Years)	2014		2013
Land	—	$	36	$	36
Buildings	33¹/₃- 50	918		883
Machinery, equipment and fixtures	3 - 20	1,342		1,205
Construction-in-progress	—	167		199
		2,463		2,323
Less: Accumulated depreciation		1,145		1,028
Property, plant and equipment		$	1,318	$	1,295

Depreciation expense was $141 million in 2014, $146 million in 2013 and $133 million in 2012.

- 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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