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PROPERTY AND DEPRECIATION

12 Months Ended

Oct. 30, 2022

PROPERTY AND DEPRECIATION

PROPERTY AND DEPRECIATION

14. PROPERTY AND DEPRECIATION

A summary of property and equipment at October 30, 2022 and October 31, 2021 in millions of dollars follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Useful Lives*	​	​	​	​	​	​
​		(Years)		2022			2021
Land	​	​	​	$	274	​	$	297
Buildings and building equipment		22	​		4,386	​		4,352	​
Machinery and equipment		11	​		6,208	​		6,123	​
Dies, patterns, tools, etc.		8	​		1,558	​		1,679	​
All other		5	​		1,205	​		1,197	​
Construction in progress	​	​	​		818	​		527	​
Total at cost	​	​	​		14,449	​		14,175	​
Less accumulated depreciation	​	​	​		8,393	​		8,355	​
Property and equipment - net	​	​		$	6,056		$	5,820	​

*    Weighted-averages

​

Total property and equipment additions in 2022, 2021, and 2020 were $1,197 million, $897 million, and $815 million and depreciation was $806 million, $830 million, and $800 million, respectively. Capitalized interest was $4 million, $3 million, and $6 million in the same periods, respectively. The cost of leased property and equipment under finance leases was $117 million and $131 million, with accumulated depreciation of $68 million and $60 million at October 30, 2022 and October 31, 2021, respectively.

For property and equipment, more than 10 percent resides in the U.S. and Germany, separately disclosed below in millions of dollars:

​

​	​	​	​	​	​	​	​	​	​	​
​		2022			2021			2020		​
U.S.	​	$	3,452	​	$	3,138	​	$	3,150	​
Germany	​		991	​		1,096	​		1,113	​
Other countries	​		1,613	​		1,586	​		1,554	​
Total	​	$	6,056	​	$	5,820	​	$	5,817	​

​

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.

X

- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI https://asc.fasb.org/topic&trid=2155823

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916

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