PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 7. PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT (In millions)	March 31, 2020			December 31, 2019
Original cost	$	75,619		$	75,187
Less accumulated depreciation and amortization	(32,453		)	(31,897		)
Property, plant and equipment – net	$	43,166		$	43,290

Consolidated depreciation and amortization on property, plant and equipment was $991 million and $995 million for the three months ended March 31, 2020 and 2019, respectively.

Operating lease income on our equipment leased to others, primarily from our GECAS business, was $876 million and $932 million for the three months ended March 31, 2020 and 2019, respectively, and comprises fixed lease income of $705 million and $764 million and variable lease income of $171 million and $168 million, respectively.

Operating Lease Assets and Liabilities. Our consolidated Right of use operating lease (ROU) assets, included within property, plant and equipment in our Statement of Financial Position were $2,813 million and $2,896 million, as of March 31, 2020 and December 31, 2019, respectively. Our consolidated operating lease liabilities, included in All other liabilities in our Statement of Financial Position, were $3,067 million and $3,162 million, as of March 31, 2020 and December 31, 2019, respectively, which included GE Industrial operating lease liabilities of $3,266 million and $3,369 million, respectively.

OPERATING LEASE EXPENSE	Three months ended March 31
(In millions)	2020		2019
Long-term (fixed)	$	177	$	225
Long-term (variable)	21		44
Short-term	68		47
Total operating lease expense	$	266	$	317