Property, Plant and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment

The components of property, plant and equipment follow:



		AS OF DECEMBER 31,
	USEFUL LIVES
(MILLIONS OF DOLLARS)	(YEARS)	2011		2010

Land	—		$ 747		$ 791
Buildings	33 1/3 - 50		12,804		13,200
Machinery and equipment	8 - 20		11,541		11,744

Furniture, fixtures and other	3 - 12½		4,291		4,643
Construction in progress	—		1,139		999

			30,522		31,377
Less: Accumulated depreciation			13,584		12,732

Total property, plant and equipment^(a)			$16,938		$18,645

^(a)

The decrease in total property, plant and equipment is primarily due to depreciation, disposals and impairments, partially offset by capital additions, the impact of foreign exchange and the acquisition of King (see Note 2B. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Acquisition of King Pharmaceuticals, Inc.).

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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