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Fixed Assets
3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Fixed Assets

5. Fixed Assets

Fixed assets consist of the following:

 

(Stated in millions)

 

 

 

 

 

 

 

 

Mar. 31,

 

 

Dec. 31,

 

 

2024

 

 

2023

 

Property, plant & equipment

$

29,934

 

$

29,965

 

Less: Accumulated depreciation

 

22,681

 

 

22,725

 

$

7,253

 

$

7,240

 

 

Depreciation expense relating to fixed assets was $377 million and $347 million in the first quarter of 2024 and 2023, respectively.