Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2015

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment, Net.

Property, plant and equipment, net consists of the following:



	Useful Life	March 31, 2015			December 31, 2014
	(in years)	(in millions)
Land		$	499		$	489
Buildings and improvements	4 - 40	2,358			2,353
Machinery, equipment and furniture	1 - 40	5,688			5,594
Assets leased to others	15 - 39	3,686			3,546
Construction in progress		647			584
		12,878			12,566
Less: Accumulated depreciation and amortization		(3,677		)	(3,611		)
Property, plant and equipment, net		$	9,201		$	8,955

Assets leased to others are related to our Railcar and Real Estate segments. Included in assets leased to others in the table above are our Railcar segment's railcars for lease in the amount of approximately $3.3 billion and $3.1 billion as of March 31, 2015 and December 31, 2014, respectively. Additionally, included in assets leased to others in the table above are our Real Estate segment's properties on lease in the amount of $434 million and $450 million as of March 31, 2015 and December 31, 2014, respectively. Aggregate accumulated depreciation pertaining to assets leased to others is $978 million and $957 million as of March 31, 2015 and December 31, 2014, respectively.

Depreciation and amortization expense related to property, plant and equipment for the three months ended March 31, 2015 and 2014 was $182 million and $167 million, respectively.

- 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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