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v3.20.2

Fixed Assets | 12 Months Ended
--- | ---
Dec. 31, 2019
Property, Plant and Equipment [Abstract] |
Fixed Assets | FIXED ASSETS
(dollars in millions) | Estimated Useful Lives |  | 2019 |  | 2018
Land |  |  | $ | 292 |  |  | $ | 266 |
Buildings and improvements | 12-40 years |  | 4,978 |  |  | 4,768 |
Machinery, tools and equipment | 3-20 years |  | 12,936 |  |  | 11,951 |
Other, including assets under construction |  |  | 1,871 |  |  | 1,735 |
|  |  | 20,077 |  |  | 18,720 |
Accumulated depreciation |  |  | (9,755) |  |  | (8,814) |
|  |  | $ | 10,322 |  |  | $ | 9,906 |
Depreciation expense is recorded predominantly utilizing the straight-line method and was $1,191 million in 2019, $945 million in 2018 and $869 million in 2017.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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