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Fixed Assets

12 Months Ended

Dec. 31, 2013

6. Fixed Assets

A summary of fixed assets follows:

	(Stated in millions)

	2013		2012
Land	$	394	$	366
Buildings & improvements		3,534		3,209
Machinery & equipment		29,332		27,690
Seismic vessels		1,904		1,903
		35,164		33,168
Less accumulated depreciation		20,068		18,388
	$	15,096	$	14,780

The estimated useful lives of Buildings & improvements are primarily 25 to 30 years. The estimated useful lives of Machinery & equipment are primarily 5 to 10 years. Seismic vessels are depreciated over periods ranging from 20 to 30 years.

Depreciation expense relating to fixed assets was $3.1 billion, $2.9 billion and $2.7 billion in 2013, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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