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Fixed Assets

12 Months Ended

Dec. 31, 2011

Notes To Condensed Consolidated Financial Statements [Abstract]

5. Fixed Assets

Fixed assets at December 31, 2011 and 2010 consist of property, plant and equipment and rental equipment, primarily postage meters, as follows:

	December 31,
	2011		2010
Land	$	23,852	$	26,710
Buildings		335,625		361,463
Machinery and equipment		1,278,332		1,352,295
		1,637,809		1,740,468
Accumulated depreciation		(1,233,663)		(1,313,967)
Property, plant and equipment, net	$	404,146	$	426,501

Rental property and equipment	$	649,343	$	710,374
Accumulated depreciation		(390,632)		(410,204)
Rental property and equipment, net	$	258,711	$	300,170

Depreciation expense was $214 million, $243 million and $270 million for the years ended December 31, 2011, 2010, and 2009, respectively. In 2011 and 2010, we recorded asset impairment charges of $13 million and $10 million, respectively, associated with a restructuring program and included these charges in restructuring charges and asset impairments in the Consolidated Statements of Income. See Note 14 for further details.

- 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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