Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property, plant, and equipment were composed of the following:



	December 31
Millions of dollars	2012		2011
Land	$	145	$	123
Buildings and property improvements	1,861		1,609
Machinery, equipment, and other	16,307		13,856
Total	18,313		15,588
Less accumulated depreciation	8,056		7,096
Net property, plant, and equipment	$	10,257	$	8,492

Classes of assets, excluding oil and natural gas investments, are depreciated over the following useful lives:



	Buildings and Property Improvements
	2012	2011
1 - 10 years	14%	13%
11 - 20 years	46%	47%
21 - 30 years	14%	13%
31 - 40 years	26%	27%



	Machinery, Equipment, and Other
	2012	2011
1 - 5 years	20%	19%
6 - 10 years	74%	75%
11 - 20 years	6%	6%

- 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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