Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

Property, Plant and Equipment

Property, plant and equipment were composed of the following:

	December 31
Millions of dollars	2016		2015
Land	$	228	$	240
Buildings and property improvements	3,399		3,486
Machinery, equipment and other	16,103		19,967
Total	19,730		23,693
Less accumulated depreciation	11,198		11,576
Net property, plant and equipment	$	8,532	$	12,117

Classes of assets, excluding oil and natural gas investments, are depreciated over the following useful lives:

	Buildings and Property Improvements
	2016	2015
1    -   10 years	11%	12%
11    -   20 years	42%	41%
21    -   30 years	22%	22%
31    -   40 years	25%	25%

	Machinery, Equipment and Other
	2016	2015
1    -    5 years	34%	23%
6    -   10 years	57%	69%
11    -   20 years	9%	8%