Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment

Property, Plant and Equipment

Note 4 − Property, Plant and Equipment

The following table is a summary of property, plant and equipment:

	Useful				December 31,
(Millions of dollars)	Lives				2021		2020
Land and improvements	3	-	15	years	$	285	$	268
Buildings and improvements			30	years		739		712
Machinery and equipment	3	-	20	years		1,445		1,367
Vessels and vehicles	3	-	18	years		214		158
Office furniture and fixtures			5	years		45		43
Contract growers	5	-	15	years		118		93
Construction in progress						613		389
Total property, plant and equipment						3,459		3,030
Accumulated depreciation and amortization						(1,567)		(1,448)
Net property, plant and equipment					$	1,892	$	1,582

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 vessels, machinery and equipment, buildings and land. Finance lease ROU assets were $128 million and $92 million, net of $29 million and $12 million in accumulated amortization as of December 31, 2021 and 2020, respectively.

Seaboard’s capitalized interest on construction in progress was $7 million and $10 million for the years ended December 31, 2021 and 2020, respectively.