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Fixed Assets

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Fixed Assets

6. Fixed Assets

Fixed assets consist of the following:

(Stated in millions)
	2018				2017
Land	$	462			$	428
Buildings & improvements		5,534				5,122
Machinery & equipment		32,668				32,160
Seismic vessels		-				103
		38,664				37,813
Less: Accumulated depreciation		26,985				26,237
	$	11,679			$	11,576

The estimated useful lives of Buildings & improvements are primarily 25 to 30 years. The estimated useful lives of Machinery & equipment are primarily 5 to 10 years.

Depreciation expense, which is recorded on a straight-line basis, was $2.1 billion, $2.3 billion and $2.7 billion in 2018, 2017 and 2016, respectively.

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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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