Fixed Assets

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Fixed Assets

5. Fixed Assets

Fixed assets consist of the following:

(Stated in millions)
	Mar. 31,		Dec. 31,
	2025		2024
Property, plant & equipment	$	30,039	$	29,573
Less: Accumulated depreciation		22,640		22,214
	$	7,399	$	7,359

Depreciation expense relating to fixed assets was $397 million and $377 million in the first quarter of 2025 and 2024, respectively.