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Fixed Assets

3 Months Ended

Mar. 31, 2014

5. Fixed Assets

A summary of fixed assets follows:

	(Stated in millions)

	Mar. 31,		Dec. 31,
	2014		2013
Property, plant & equipment	$	35,719	$	35,164
Less: Accumulated depreciation		20,605		20,068
	$	15,114	$	15,096

Depreciation expense relating to fixed assets was $793 million and $761 million in the first quarter of 2014 and 2013, 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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