| Schedule of Components of Property, Plant and Equipment |
The components of property, plant and
equipment follow:
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AS OF DECEMBER 31, |
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USEFUL LIVES |
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| (MILLIONS OF DOLLARS) |
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(YEARS) |
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2011 |
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2010 |
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Land
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— |
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$ 747 |
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$ 791 |
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Buildings
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33
1/3 - 50 |
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12,804 |
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13,200 |
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Machinery and equipment
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8 - 20 |
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11,541 |
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11,744 |
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Furniture, fixtures and
other
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3 - 12½ |
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4,291 |
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4,643 |
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Construction in progress
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— |
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1,139 |
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999 |
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30,522 |
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31,377 |
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Less: Accumulated
depreciation
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13,584 |
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12,732 |
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Total property, plant and
equipment(a)
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$16,938 |
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$18,645 |
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| (a) |
The
decrease in total property, plant and equipment is primarily due to
depreciation, disposals and impairments, partially offset by
capital additions, the impact of foreign exchange and the
acquisition of King (see Note 2B. Acquisitions, Divestitures,
Collaborative Arrangements and Equity-Method Investments:
Acquisition of King Pharmaceuticals, Inc.).
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