Property, Equipment and Right-of-Use Assets (Tables)

12 Months Ended

Dec. 31, 2024

Property, equipment and right-of-use assets consisted of the following at December 31:


	2024		2023
	(in millions)
Buildings, building equipment and land	$	709	$	678
Equipment	2,118		1,940
Furniture and fixtures	101		90
Leasehold improvements	436		398
Operating lease right-of-use assets	1,167		1,192
Property, equipment and right-of-use assets	4,531		4,298
Less: Accumulated depreciation and amortization	(2,393)		(2,237)
Property, equipment and right-of-use assets, net	$	2,138	$	2,061

The useful lives of the Company’s assets are as follows:


Asset Category						Estimated Useful Life
Buildings						30 years
Building equipment						10 - 15 years
Equipment and furniture and fixtures						3 - 5 years
Leasehold improvements						Shorter of life of improvement or lease term
Right-of-use assets						Shorter of life of the asset or lease term

Operating lease ROU assets and operating lease liabilities are recorded on the consolidated balance sheets as follows at December 31:


	2024		2023
	(in millions)
Balance sheet location
Property, equipment and right-of-use assets, net	$	681	$	686
Other current liabilities	133		142
Other liabilities	627		633

The following table summarizes the maturity of the Company’s operating lease liabilities at December 31, 2024 based on lease term:


	(in millions)
2025	$	161
2026	139
2027	105
2028	87
2029	69
Thereafter	328
Total operating lease payments	889
Less: Interest	(129)
Present value of operating lease liabilities	$	760