The following table provides the components of Property, plant and equipment: | |||||||||||
Useful Lives | As of December 31, | ||||||||||
(MILLIONS OF DOLLARS) | (Years) | 2013 | 2012 | ||||||||
Land | — | $ | 557 | $ | 566 | ||||||
Buildings | 33-50 | 10,055 | 10,643 | ||||||||
Machinery and equipment | 8-20 | 10,050 | 9,939 | ||||||||
Furniture, fixtures and other | 3-12 1/2 | 3,914 | 3,860 | ||||||||
Construction in progress | — | 1,102 | 957 | ||||||||
25,678 | 25,965 | ||||||||||
Less: Accumulated depreciation | 13,281 | 12,752 | |||||||||
Property, plant and equipment(a) | $ | 12,397 | $ | 13,213 | |||||||
(a) | The decrease in total property, plant and equipment is primarily due to depreciation, disposals, impairments and the impact of foreign exchange, partially offset by capital additions. |