Property, plant and equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property, plant and equipment

Property, plant and equipment

		December 31,
(Millions of dollars)	Useful Lives (Years)	2015			2014
Land	—	$	644		$	665
Buildings and land improvements	20-45	7,242			7,119
Machinery, equipment and other	3-10	15,686			15,516
Software	3-7	1,636			1,455
Equipment leased to others	1-10	5,728			5,596
Construction-in-process	—	1,041			1,221
Total property, plant and equipment, at cost		31,977			31,572
Less: Accumulated depreciation		(15,887		)	(14,995		)
Property, plant and equipment–net		$	16,090		$	16,577

We had commitments for the purchase or construction of capital assets of approximately $224 million at December 31, 2015.

Assets recorded under capital leases: 1
	December 31,
(Millions of dollars)	2015			2014
Gross capital leases 2	$	124		$	111
Less: Accumulated depreciation	(44		)	(52		)
Net capital leases	$	80		$	59

¹  Included in Property, plant and equipment table above.

²  Consists primarily of machinery and equipment.

At December 31, 2015, scheduled minimum rental payments on assets recorded under capital leases were:

(Millions of dollars)
2016		2017		2018		2019		2020		Thereafter
$	7	$	24	$	7	$	7	$	8	$	31

Equipment leased to others (primarily by Cat Financial):
	December 31,
(Millions of dollars)	2015			2014
Equipment leased to others–at original cost	$	5,728		$	5,596
Less: Accumulated depreciation	(1,571		)	(1,565		)
Equipment leased to others–net	$	4,157		$	4,031

At December 31, 2015, scheduled minimum rental payments to be received for equipment leased to others were:

(Millions of dollars)
2016		2017		2018		2019		2020		Thereafter
$	886	$	573	$	352	$	177	$	75	$	61