Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]



The following table provides the components of Property, plant and equipment:
	Useful Lives	As of December 31,
(MILLIONS OF DOLLARS)	(Years)	2014		2013
Land	—	$	529	$	557
Buildings	33-50	9,355		10,055
Machinery and equipment	8-20	9,671		10,050
Furniture, fixtures and other	3-12 1/2	4,162		3,914
Construction in progress	—	1,271		1,102
		24,988		25,678
Less: Accumulated depreciation		13,226		13,281
Property, plant and equipment^(a)		$	11,762	$	12,397


^(a)	The decrease in total property, plant and equipment is primarily due to depreciation and, to a much lesser extent, disposals, impairments and the impact of foreign exchange, partially offset by capital additions.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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