Property, plant and equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]



		December 31,
(Millions of dollars)	Useful Lives (Years)	2012			2011			2010
Land	—	$	723		$	753		$	682
Buildings and land improvements	20-45	6,214			5,857			5,174
Machinery, equipment and other	3-10	16,073			14,435			13,414
Equipment leased to others	1-10	4,658			4,285			4,444
Construction-in-process	—	2,264			1,996			1,192

Total property, plant and equipment, at cost		29,932			27,326			24,906
Less: Accumulated depreciation		(13,471		)	(12,931		)	(12,367		)
Property, plant and equipment–net		$	16,461		$	14,395		$	12,539

We had commitments for the purchase or construction of capital assets of approximately $569 million at December 31, 2012.



Assets recorded under capital leases: ¹
	December 31,
(Millions of dollars)	2012			2011			2010
Gross capital leases ²	$	134		$	131		$	251
Less: Accumulated depreciation	(58		)	(75		)	(134		)
Net capital leases	$	76		$	56		$	117


¹	Included in Property, plant and equipment table above.


²	Consists primarily of machinery and equipment.

At December 31, 2012, scheduled minimum rental payments on assets recorded under capital leases were:



(Millions of dollars)
2013		2014		2015		2016		2017		Thereafter
$	15	$	10	$	7	$	18	$	4	$	34



Equipment leased to others (primarily by Cat Financial):
	December 31,
(Millions of dollars)	2012			2011			2010
Equipment leased to others–at original cost	$	4,658		$	4,285		$	4,444
Less: Accumulated depreciation	(1,383		)	(1,406		)	(1,533		)
Equipment leased to others–net	$	3,275		$	2,879		$	2,911

At December 31, 2012, scheduled minimum rental payments to be received for equipment leased to others were:



(Millions of dollars)
2013		2014		2015		2016		2017		Thereafter
$	798	$	551	$	337	$	187	$	74	$	35

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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