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Fixed Assets | 3 Months Ended
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Mar. 31, 2020
Property Plant And Equipment [Abstract] |
Fixed Assets | 5. Fixed Assets A summary of fixed assets follows:
(Stated in millions) |
| Mar. 31, |  |  | Dec. 31, |
| 2020 |  |  | 2019 |
Property, plant & equipment | $ | 34,105 |  |  | $ | 35,009 |
Less: Accumulated depreciation |  | 25,555 |  |  |  | 25,739 |
| $ | 8,550 |  |  | $ | 9,270 |
Depreciation expense relating to fixed assets was $449 million and $512 million in the first quarter of 2020 and 2019, respectively.

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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 + Details
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