PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 7. PROPERTY, PLANT AND EQUIPMENT

	March 31, 2021		December 31, 2020
Original cost	$	31,893	$	32,098
Less accumulated depreciation and amortization	(18,405)		(18,251)
Right-of-use operating lease assets	2,808		2,852
Property, plant and equipment – net	$	16,296	$	16,699

Consolidated depreciation and amortization on property, plant and equipment was $452 million and $461 million for the three months ended March 31, 2021 and 2020, respectively.

Operating Lease Liabilities. Our consolidated operating lease liabilities, included in All other liabilities in our Statement of Financial Position, were $3,143 million and $3,195 million, as of March 31, 2021 and December 31, 2020, respectively, which included GE Industrial operating lease liabilities of $3,083 million and $3,133 million, respectively. Expense on our operating lease portfolio, primarily from our long-term fixed leases, was $281 million and $294 million for the three months ended March 31, 2021 and 2020, respectively.