Property and Equipment (Notes)

Note 9: Property and Equipment

At December 31, property and equipment consisted of the following:



	2014			2013
Land	$	205.2		$	198.7
Buildings	6,516.2			6,489.9
Equipment	7,609.7			7,752.7
Construction in progress	1,698.2			1,205.4
	16,029.3			15,646.7
Less accumulated depreciation	(8,065.4		)	(7,671.2		)
Property and equipment, net	$	7,963.9		$	7,975.5

Depreciation expense for the years ended December 31, 2014, 2013, and 2012 was $759.1 million, $774.8 million, and $754.0 million, respectively. Capitalized interest costs were not material for the years ended December 31, 2014, 2013, and 2012, respectively. Total rental expense for all leases, including contingent rentals (not material), amounted to $227.3 million, $227.2 million, and $262.2 million for the years ended December 31, 2014, 2013, and 2012, respectively. Assets under capital leases included in property and equipment, net on the consolidated balance sheets, capital lease obligations entered into, and future minimum rental commitments are not material.

- 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.

+ References+ Details