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Fixed Assets
12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Fixed Assets, Net
NOTE 8: FIXED ASSETS, NET
Fixed assets, net, consisted of the following:
(dollars in millions)Estimated
Useful Lives
20242023
Land$695 $743 
Buildings and improvements
10-45 years
8,615 8,151 
Machinery, tools, and equipment
3-20 years
19,738 18,904 
Other, including assets under construction 3,735 3,594 
Fixed assets, gross32,783 31,392 
Accumulated depreciation (16,694)(15,644)
Fixed assets, net$16,089 $15,748 
Leasehold improvements are amortized over the lesser of the remaining lease term or the estimated useful life of the improvement.
Depreciation expense related to Fixed assets, net is recorded predominantly utilizing the straight-line method and was $1.8 billion in 2024, 2023, and 2022.