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Net Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2017
Net Property, Plant and Equipment |
Net Property, Plant and Equipment | Note 5 - Net Property, Plant and Equipment The following table is a summary of property, plant and equipment at the end of each year:
|  | Useful |  | December 31, |
(Millions of dollars) |  | Lives |  | 2017 |  | 2016 |
Land and improvements |  | 3 | - | 15 | years |  | $ | 224 |  | $ | 214 |
Buildings and improvements |  |  |  | 30 | years |  |  | 525 |  |  | 486 |
Machinery and equipment |  | 3 | - | 20 | years |  |  | 1,253 |  |  | 1,142 |
Vessels and vehicles |  | 3 | - | 18 | years |  |  | 136 |  |  | 140 |
Office furniture and fixtures |  |  |  | 5 | years |  |  | 34 |  |  | 32 |
Construction in progress |  |  |  |  |  |  |  | 56 |  |  | 58 |
|  |  |  |  |  |  |  | 2,228 |  |  | 2,072 |
Accumulated depreciation and amortization |  |  |  |  |  |  |  | (1,151) |  |  | (1,066) |
Net property, plant and equipment |  |  |  |  |  |  | $ | 1,077 |  | $ | 1,006 |
Seaboard’s capitalized interest on construction in progress projects was $4 million and $4 million for the years ended December 31, 2017 and 2016, respectively.

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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 + Details
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