SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

To enhance comparability of the Company's asset impairments from period to period, the Company has made reclassifications to the 2015 and 2014 consolidated statements of (loss) income to include a line item for the presentation of Asset impairments from line items previously disclosed as Amortization and impairments of finite-lived intangible assets and Acquired in-process research and development impairments and other charges as follows:



(in millions)	As Initially Recorded				Reclassification						As Reclassified
(Income) / Expense	2015		2014		2015			2014			2015		2014
Amortization of intangible assets	$	2,418	$	1,551	$	(161	)	$	(124	)	$	2,257	$	1,427
Asset impairments	—		—		304			145			304		145
Acquired in-process research and development costs	249		41		(143		)	(21		)	106		20
	$	2,667	$	1,592	$	—		$	—		$	2,667	$	1,592

Schedule of estimated useful lives of property, plant and equipment

Depreciation is calculated using the straight-line method, commencing when the assets become available for productive use, based on the following estimated useful lives:



Buildings		Up to 40 years
Machinery and equipment		3 - 20 years
Other equipment		3 - 10 years
Equipment on operating lease		Up to 5 years
Leasehold improvements and capital leases		Lesser of term of lease or 10 years

Schedule of estimated useful lives of intangible assets

Amortization is calculated primarily using the straight-line method based on the following estimated useful lives:



Product brands		2 - 20 years
Corporate brands		6 - 20 years
Product rights		3 - 15 years
Partner relationships		5 - 9 years
Out-licensed technology and other		5 - 10 years