Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

The following summarizes the components of Property, plant and equipment:
	Useful Lives	As of December 31,
(MILLIONS OF DOLLARS)	(Years)	2020		2019
Land	-	$	444	$	495
Buildings	33-50	9,022		9,181
Machinery and equipment	8-20	11,153		10,648
Furniture, fixtures and other	3-12.5	4,541		4,840
Construction in progress	-	3,552		2,794
		28,711		27,959
Less: Accumulated depreciation		14,812		14,990
Property, plant and equipment		$	13,900	$	12,969

The following provides long-lived assets by geographic area:
	As of December 31,
(MILLIONS OF DOLLARS)	2020		2019
Property, plant and equipment
United States	$	7,821	$	7,194
Developed Europe	4,775		4,238
Developed Rest of World	413		453
Emerging Markets	890		1,083
Property, plant and equipment	$	13,900	$	12,969