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Fixed Assets

12 Months Ended

Dec. 31, 2014

Property Plant And Equipment [Abstract]

6. Fixed Assets

A summary of fixed assets follows:

	(Stated in millions)

	2014		2013
Land	$	445	$	394
Buildings & improvements		3,733		3,534
Machinery & equipment		31,937		29,332
Seismic vessels		849		1,904
		36,964		35,164
Less accumulated depreciation		21,568		20,068
	$	15,396	$	15,096

The estimated useful lives of Buildings & improvements are primarily 25 to 30 years. The estimated useful lives of Machinery & equipment are primarily 5 to 10 years. Seismic vessels are depreciated over periods ranging from 20 to 30 years.

Depreciation expense relating to fixed assets was $3.2 billion, $3.1 billion and $2.9 billion in 2014, 2013 and 2012, 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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