Property, Plant and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

NOTE 5. PROPERTY, PLANT AND EQUIPMENT

	Depreciable
	lives-new
December 31 (Dollars in millions)	(in years)			2012		2011

Original cost(b)
Land and improvements, buildings, structures and
related equipment		1-36	(a)	$	2,624	$	3,110
Equipment leased to others
Aircraft		19-21			49,954		46,240
Vehicles		1-28			17,574		15,278
Railroad rolling stock		4-50			4,210		4,324
Construction and manufacturing		1-30			3,055		2,644
All other		3-27			3,427		3,438
Total				$	80,844	$	75,034

Net carrying value(b)
Land and improvements, buildings, structures and
related equipment				$	1,074	$	1,499
Equipment leased to others
Aircraft(c)					36,231		34,271
Vehicles					9,263		8,772
Railroad rolling stock					2,746		2,853
Construction and manufacturing					2,069		1,670
All other					2,290		2,354
Total				$	53,673	$	51,419

Depreciable lives exclude land.
Included $1,467 million and $1,570 million of original cost of assets leased to GE with accumulated amortization of $452 million and $445 million at December 31, 2012 and 2011, respectively.
GECAS recognized impairment losses of $242 million in 2012 and $301 million in 2011 recorded in the caption “Depreciation and amortization” in the Statement of Earnings to reflect adjustments to fair value based on an evaluation of average current market values (obtained from third parties) of similar type and age aircraft, which are adjusted for the attributes of the specific aircraft under lease.

Amortization of equipment leased to others was $6,243 million, $6,253 million and $6,786 million in 2012, 2011 and 2010, respectively. Noncancellable future rentals due from customers for equipment on operating leases at December 31, 2012, are as follows:

(In millions)

Due in
2013	$	7,507
2014		6,168
2015		4,946
2016		3,863
2017		3,000
2018 and later		8,286
Total	$	33,770

- 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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