GE 2005 Annual Report Download - page 110

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(110)
Note 15
Property, Plant and Equipment
December 31 (Dollars in millions)
Estimated
useful lives-
new (years) 2005 2004
ORIGINAL COST
GE
Land and improvements 8(a) $1,366
$1,562
Buildings, structures and related equipment 8-40 10,044
9,617
Machinery and equipment 4-20 25,811
25,026
Leasehold costs and manufacturing plant under construction 1-10 2,157
2,942
39,378
39,147
GECS(b)
Buildings and equipment 2-40 5,547
5,684
Equipment leased to others
Aircraft 20 32,941
26,837
Vehicles 1-14 23,208
23,056
Railroad rolling stock 3-30 3,327
3,390
Mobile and modular space 12-18 2,889
2,965
Construction and manufacturing 5-25 1,609
1,772
All other 2-33 2,834
3,021
72,355
66,725
Total
$111,733
$105,872
NET CARRYING VALUE
GE
Land and improvements $1,269
$1,464
Buildings, structures and related equipment 4,823
4,405
Machinery and equipment 8,525
8,206
Leasehold costs and manufacturing plant under construction 1,887
2,681
16,504
16,756
GECS(b)
Buildings and equipment 3,116
3,295
Equipment leased to others
Aircraft(c)
27,116
21,991
Vehicles 14,064
14,062
Railroad rolling stock 2,188
2,193
Mobile and modular space 1,496
1,636
Construction and manufacturing 1,088
1,157
All other 1,956
2,013
51,024
46,347
Total
$67,528
$ 63,103
(a) Estimated useful lives exclude land.
(b) Included $1,935 million and $2,243 million of original cost of assets leased to GE with accumulated amortization of $298 million and
$377 million at December 31, 2005 and 2004, respectively.
(c) The Aviation Financial Services business of Infrastructure recognized impairment losses of $295 million in 2005 and $148 million in 2004
recorded in the caption “Other costs and expenses” in the Statement of Earnings to reflect adjustments to fair value based on current
market values from independent appraisers.