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Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net.

Property, plant and equipment, net consists of the following:

			December 31,
	Useful Life		2016				2015
	(in years)		(in millions)
Land			$	944			$	549
Buildings and improvements	3 - 40		3,050				2,459
Machinery, equipment and furniture	1 - 30		7,538				6,044
Assets leased to others	15 - 39		1,939				3,994
Construction in progress			541				598
			14,012				13,644
Less: Accumulated depreciation and amortization			(3,890		)		(4,109		)
Property, plant and equipment, net			$	10,122			$	9,535

Assets leased to others are related to our Railcar and Real Estate segments. Included in assets leased to others in the table above are our Railcar segment's railcars for lease in the amount of approximately $1.5 billion and 3.6 billion as of December 31, 2016 and 2015, respectively. Additionally, included in assets leased to others in the table above are our Real Estate segment's properties on lease in the amount of $415 million and $423 million as of December 31, 2016 and 2015, respectively. Aggregate accumulated depreciation pertaining to assets leased to others is approximately $224 million and approximately $1.1 billion as of December 31, 2016 and 2015, respectively.

Depreciation and amortization expense related to property, plant and equipment for the years ended December 31, 2016, 2015 and 2014 was $917 million, $752 million and $701 million, respectively.

In connection with the ARL Initial Sale, as described in Note 1, "Description of Business and Basis of Presentation - Agreement to Sell ARL," our Railcar segment has railcars for lease of approximately $2.1 billion, net of accumulated depreciation of $950 million, which are classified as assets held for sale on the consolidated balance sheet as of December 31, 2016.

See Note 6, "Fair Value Measurements," for discussion regarding certain impairments to our property, plant and equipment.

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- References

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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 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2921-110230

Reference 4: 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

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