Net Property, Plant and Equipment

12 Months Ended

Dec. 31, 2015

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				2015		2014
Land and improvements	3	-	15	years	$	185	$	185
Buildings and improvements			30	years		405		389
Machinery and equipment	3	-	20	years		1,025		1,001
Vessels and vehicles	3	-	18	years		150		160
Office furniture and fixtures			5	years		27		26
Construction in progress						38		26
						1,830		1,787
Accumulated depreciation and amortization						(999)		(940)
Net property, plant and equipment					$	831	$	847