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Summary of Principal Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Property, Plant and Equipment

The following table summarizes our property as of December 31, 2016 and 2015:

Millions of dollars		2016				2015				Estimated Useful Life
Land		$	128			$	131			n/a
Buildings		1,652				1,614				10 to 50 years
Machinery and equipment		8,085				7,982				3 to 30 years
Accumulated depreciation		(6,055		)		(5,953		)
Property plant and equipment, net		$	3,810			$	3,774

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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