PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

Property and equipment includes land, buildings and improvements, machinery and equipment, roads and other items.

Carrying Value of Property and Equipment and Estimated Service Lives

DOLLAR AMOUNTS IN MILLIONS
	RANGE OF LIVES	DECEMBER 31, 2014			DECEMBER 31, 2013
Property and equipment, at cost:
Land	N/A	$	127		$	129
Buildings and improvements	10–40	1,220			1,262
Machinery and equipment	2–25	6,706			6,712
Roads	10–20	609			594
Other	3–10	285			319
Total cost		8,947			9,016
Allowance for depreciation and amortization		(6,324		)	(6,327		)
Property and equipment, net		$	2,623		$	2,689

SERVICE LIVES AND DEPRECIATION

Buildings and improvements for property and equipment have estimated lives that are generally at either the high end or low end of the range from 10 years to 40 years, depending on the type and performance of construction.

The maximum service lives for machinery and equipment varies among our operations:

• Timberlands — 15 years;

• Wood products manufacturing facilities — 20 years; and

• Pulp mills — 25 years.

Depreciation expense, excluding discontinued operations, was:

• $332 million in 2014,

• $332 million in 2013 and

• $332 million in 2012.