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PROPERTY AND DEPRECIATION

12 Months Ended

Oct. 28, 2018

PROPERTY AND DEPRECIATION

PROPERTY AND DEPRECIATION

16. PROPERTY AND DEPRECIATION

A summary of property and equipment at October 28, 2018 and October 29, 2017 in millions of dollars follows:

		Useful Lives*
		(Years)		2018			2017
Equipment Operations
Land				$	283		$	122
Buildings and building equipment		23			3,848			3,396
Machinery and equipment		11			5,570			5,378
Dies, patterns, tools, etc.		8			1,564			1,647
All other		5			1,032			942
Construction in progress					619			358
Total at cost					12,916			11,843
Less accumulated depreciation					7,095			6,826
Total					5,821			5,017
Financial Services
Land					4			4
Buildings and building equipment		26			74			74
All other		6			34			38
Total at cost					112			116
Less accumulated depreciation					65			65
Total					47			51
Property and equipment - net				$	5,868		$	5,068

*    Weighted-averages

Total property and equipment additions in 2018, 2017, and 2016 were $985 million, $602 million, and $674 million and depreciation was $754 million, $726 million, and $701 million, respectively. Capitalized interest was $4 million, $3 million, and $3 million in the same periods, respectively. The cost of leased property and equipment under capital leases of $52 million and $40 million and accumulated depreciation of $22 million and $15 million at October 28, 2018 and October 29, 2017, 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 28, 2018 and October 29, 2017 were $1,207 million and $1,078 million, less accumulated amortization of $910 million and $826 million, respectively. Capitalized interest on software was $3 million and $1 million at October 28, 2018 and October 29, 2017, respectively. Amortization of these software costs in 2018, 2017, and 2016 was $145 million, $118 million, and $102 million, respectively.

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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- References

No definition available.

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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

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