Net Property (Notes)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NET PROPERTY

Net property is reported at cost, net of accumulated depreciation, which includes impairments.  We capitalize new assets when we expect to use the asset for more than one year.  Routine maintenance and repair costs are expensed when incurred.

Property and equipment are depreciated primarily using the straight-line method over the estimated useful life of the asset.  Useful lives range from 3 years to 40 years.  The estimated useful lives generally are 14.5 years for machinery and equipment, 8 years for software, 30 years for land improvements, and 40 years for buildings.  Tooling generally is amortized over the expected life of a product program using a straight-line method.  

Net property at December 31 was as follows (in millions):

	2020		2021
Land	$	451	$	450
Buildings and land improvements	12,557		12,438
Machinery, equipment, and other	40,463		39,636
Software	3,900		4,598
Construction in progress	1,718		2,152
Total land, plant and equipment, and other	59,089		59,274
Accumulated depreciation	(32,848)		(32,342)
Net land, plant and equipment, and other	26,241		26,932
Tooling, net of amortization	10,842		10,207
Total	$	37,083	$	37,139

Property-related expenses, excluding net investment in operating leases, for the years ended December 31 were as follows (in millions):

	2019		2020		2021
Depreciation and other amortization	$	3,449	$	2,792	$	2,986
Tooling amortization	3,409		2,747		2,706
Total (a)	$	6,858	$	5,539	$	5,692
Maintenance and rearrangement	$	1,963	$	1,670	$	1,940

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(a)    Includes impairment of held-for-sale long-lived assets in 2019 and 2020.  See Note 22 for additional information.