PROPERTY AND DEPRECIATION

12 Months Ended

Oct. 29, 2017

16. PROPERTY AND DEPRECIATION

A summary of property and equipment at October 29, 2017 and October 30, 2016 in millions of dollars follows:


	Useful Lives*
	(Years)	2017		2016
Equipment Operations
Land		$	122	$	119
Buildings and building equipment	22		3,396		3,230
Machinery and equipment	11		5,378		5,180
Dies, patterns, tools, etc.	8		1,647		1,604
All other	5		942		893
Construction in progress			358		370
Total at cost			11,843		11,396
Less accumulated depreciation			6,826		6,277
Total			5,017		5,119
Financial Services
Land			4		4
Buildings and building equipment	26		74		73
All other	6		38		36
Total at cost			116		113
Less accumulated depreciation			65		61
Total			51		52
Property and equipment – net		$	5,068	$	5,171

* Weighted-averages

Total property and equipment additions in 2017, 2016, and 2015 were $602 million, $674 million, and $666 million and depreciation was $726 million, $701 million, and $692 million, respectively. Capitalized interest was $3 million, $3 million, and $6 million in the same periods, respectively. The cost of leased property and equipment under capital leases of $40 million and $33 million and accumulated depreciation of $15 million and $16 million at October 29, 2017 and October 30, 2016, respectively, is included in property and equipment.

Capitalized software has an estimated useful life of three years. The amounts of total capitalized software costs, including purchased and internally developed software, classified as “Other Assets” at October 29, 2017 and October 30, 2016 were $1,078 million and $1,035 million, less accumulated amortization of $826 million and $770 million, respectively. Capitalized interest on software was $1 million and $3 million at October 29, 2017 and October 30, 2016, respectively. Amortization of these software costs in 2017, 2016, and 2015 was $118 million, $102 million, and $103 million, respectively.

The cost of compliance with foreseeable environmental requirements has been accrued and did not have a material effect on the company’s consolidated financial statements.