Net Property, Plant and Equipment

12 Months Ended

Dec. 31, 2017

Net Property, Plant and Equipment

Net Property, Plant and Equipment

Note 5 - Net Property, Plant and Equipment

The following table is a summary of property, plant and equipment at the end of each year:

	Useful				December 31,
(Millions of dollars)	Lives				2017		2016
Land and improvements	3	-	15	years	$	224	$	214
Buildings and improvements			30	years		525		486
Machinery and equipment	3	-	20	years		1,253		1,142
Vessels and vehicles	3	-	18	years		136		140
Office furniture and fixtures			5	years		34		32
Construction in progress						56		58
						2,228		2,072
Accumulated depreciation and amortization						(1,151)		(1,066)
Net property, plant and equipment					$	1,077	$	1,006

Seaboard’s capitalized interest on construction in progress projects was $4 million and $4 million for the years ended December 31, 2017 and 2016, respectively.