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Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

Property, Plant and Equipment

Property, plant and equipment were composed of the following:

	December 31
Millions of dollars	2017			2016
Land	$	248		$	228
Buildings and property improvements	3,460			3,399
Machinery, equipment and other	17,062			16,103
Total	20,770			19,730
Less accumulated depreciation	12,249			11,198
Net property, plant and equipment	$	8,521		$	8,532

Classes of assets are depreciated over the following useful lives:

	Buildings and Property Improvements
	2017	2016
1    -   10 years	11%	11%
11    -   20 years	42%	42%
21    -   30 years	22%	22%
31    -   40 years	25%	25%

	Machinery, Equipment and Other
	2017	2016
1    -    5 years	35%	34%
6    -   10 years	56%	57%
11    -   20 years	9%	9%

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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