Net Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

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:

	Useful				December 31,
(Millions of dollars)	Lives				2020		2019
Land and improvements	3	-	15	years	$	268	$	250
Buildings and improvements			30	years		712		646
Machinery and equipment	3	-	20	years		1,367		1,360
Vessels and vehicles	3	-	18	years		158		147
Office furniture and fixtures			5	years		43		42
Contract growers	5	-	15	years		93		44
Construction in progress						389		287
						3,030		2,776
Accumulated depreciation and amortization						(1,448)		(1,345)
Net property, plant and equipment					$	1,582	$	1,431

Finance lease ROU assets are included in property, plant and equipment and comprise all of the contract growers’ asset category, with the remaining balance in buildings, machinery and equipment and land. Finance lease ROU assets were $92 million and $50 million, net of $12 million and $3 million in accumulated amortization at December 31, 2020 and 2019, respectively.

Seaboard’s capitalized interest on construction in progress was $10 million and $7 million for the years ended December 31, 2020 and 2019, respectively.