Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net.

Property, plant and equipment, net consists of the following:

	Useful Life	September 30, 2016			December 31, 2015
	(in years)	(in millions)
Land		$	959		$	614
Buildings and improvements	4 - 40	3,029			2,456
Machinery, equipment and furniture	1 - 30	7,544			6,047
Assets leased to others	15 - 39	4,061			3,994
Construction in progress		558			676
		16,151			13,787
Less: Accumulated depreciation and amortization		(4,705		)	(4,109		)
Property, plant and equipment, net		$	11,446		$	9,678

Assets leased to others are related to our Railcar and Real Estate segments. Included in assets leased to others in the table above are our Railcar segment's railcars for lease in the amount of approximately $3.6 billion and $3.6 billion as of September 30, 2016 and December 31, 2015, respectively. Additionally, included in assets leased to others in the table above are our Real Estate segment's properties on lease in the amount of $420 million and $423 million as of September 30, 2016 and December 31, 2015, respectively. Aggregate accumulated depreciation pertaining to assets leased to others is approximately $1.1 billion and $1.1 billion as of September 30, 2016 and December 31, 2015, respectively.

Depreciation and amortization expense related to property, plant and equipment was $237 million and $190 million for the three months ended September 30, 2016 and 2015, respectively, and $675 million and $556 million for the nine months ended September 30, 2016 and 2015, respectively.