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PROPERTY AND DEPRECIATION | 12 Months Ended
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Oct. 31, 2015
PROPERTY AND DEPRECIATION |
PROPERTY AND DEPRECIATION | 16. PROPERTY AND DEPRECIATION A summary of property and equipment at October 31 in millions of dollars follows:
|  | Useful Lives* |  |  |  |  |  |  |
|  | (Years) |  | 2015 |  | 2014 |
Equipment Operations |  |  |  |  |  |  |  |  |
Land |  |  |  | $ | 114 |  | $ | 120 |
Buildings and building equipment |  | 23 |  |  | 3,016 |  |  | 3,037 |
Machinery and equipment |  | 11 |  |  | 5,055 |  |  | 5,089 |
Dies, patterns, tools, etc. |  | 8 |  |  | 1,567 |  |  | 1,552 |
All other |  | 5 |  |  | 875 |  |  | 889 |
Construction in progress |  |  |  |  | 345 |  |  | 530 |
Total at cost |  |  |  |  | 10,972 |  |  | 11,217 |
Less accumulated depreciation |  |  |  |  | 5,846 |  |  | 5,694 |
Total |  |  |  |  | 5,126 |  |  | 5,523 |
Financial Services |  |  |  |  |  |  |  |  |
Land |  |  |  |  | 4 |  |  | 4 |
Buildings and building equipment |  | 27 |  |  | 73 |  |  | 71 |
All other |  | 6 |  |  | 36 |  |  | 37 |
Total at cost |  |  |  |  | 113 |  |  | 112 |
Less accumulated depreciation |  |  |  |  | 58 |  |  | 57 |
Total |  |  |  |  | 55 |  |  | 55 |
Property and equipment-net |  |  |  | $ | 5,181 |  | $ | 5,578 |
*Weighted-averages Total property and equipment additions in 2015, 2014 and 2013 were $666 million, $1,016 million and $1,158 million and depreciation was $692 million, $696 million and $637 million, respectively. Capitalized interest was $6 million, $6 million and $13 million in the same periods, respectively. The cost of leased property and equipment under capital leases of $27 million and $36 million and accumulated depreciation of $14 million and $15 million at October 31, 2015 and 2014, respectively, is included in property and equipment. Capitalized software has an estimated useful life of three years. The amounts of total capitalized software costs, including purchased and internally developed software, classified as “Other Assets” at October 31, 2015 and 2014 were $934 million and $912 million, less accumulated amortization of $681 million and $656 million, respectively. Capitalized interest on software was $2 million at October 31, 2015. Amortization of these software costs was $103 million in 2015, $106 million in 2014 and $93 million in 2013. The cost of leased software assets under capital leases amounting to $86 million and $77 million at October 31, 2015 and 2014, respectively, is included in other assets. The cost of compliance with foreseeable environmental requirements has been accrued and did not have a material effect on the company’s consolidated financial statements.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2921-110230 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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