v3.19.3.a.u2
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
The following table provides the components of Property, plant and equipment:
 
 
Useful Lives
 
As of December 31,
(MILLIONS OF DOLLARS)
 
(Years)  
 
2019

 
2018

Land
 
-
 
$
516

 
$
500

Buildings
 
33-50
 
10,068

 
9,920

Machinery and equipment
 
8-20
 
12,281

 
11,871

Furniture, fixtures and other
 
3-12 1/2
 
4,930

 
4,693

Construction in progress
 
-
 
2,960

 
2,992

 
 
 
 
30,756

 
29,977

Less: Accumulated depreciation
 
 
 
16,789

 
16,591

Property, plant and equipment(a)
 
 
 
$
13,967

 
$
13,385

(a) 
The increase in total property, plant and equipment is mainly due to capital additions, partially offset by depreciation, reductions due to asset impairments largely associated with cost reduction initiatives not associated with acquisitions (see Note 3), and the impact of foreign exchange.