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Fixed Assets
3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Fixed Assets

6. Fixed Assets

Fixed assets consist of the following:

 

(Stated in millions)

 

 

 

 

 

 

 

 

Mar. 31,

 

 

Dec. 31,

 

 

2026

 

 

2025

 

Property, plant & equipment

$

31,818

 

$

32,045

 

Less: Accumulated depreciation

 

24,071

 

 

24,151

 

$

7,747

 

$

7,894

 

 

Depreciation expense relating to fixed assets was $464 million and $397 million in the first quarter of 2026 and 2025, respectively.