NOTE 7. PROPERTY, PLANT AND EQUIPMENT
| Depreciable | ||||||||
| lives-new | ||||||||
| December 31 (Dollars in millions) | (in years) | 2013 | 2012 | |||||
| Original cost | ||||||||
| GE | ||||||||
| Land and improvements | 8 | (a) | $ | 707 | $ | 612 | ||
| Buildings, structures and related equipment | 8-40 | 8,910 | 8,361 | |||||
| Machinery and equipment | 4-20 | 25,323 | 24,090 | |||||
| Leasehold costs and manufacturing plant under construction | 1-10 | 3,309 | 2,815 | |||||
| 38,249 | 35,878 | |||||||
| GECC(b) | ||||||||
| Land and improvements, buildings, structures and related equipment | 1-35 | (a) | 2,504 | 2,485 | ||||
| Equipment leased to others | ||||||||
| Aircraft | 20 | 50,337 | 49,954 | |||||
| Vehicles | 1-20 | 14,656 | 15,952 | |||||
| Railroad rolling stock | 4-50 | 4,636 | 4,180 | |||||
| Construction and manufacturing | 1-30 | 2,916 | 3,055 | |||||
| All other | 7-27 | 3,518 | 3,427 | |||||
| 78,567 | 79,053 | |||||||
| Eliminations | (347) | (363) | ||||||
| Total | $ | 116,469 | $ | 114,568 | ||||
| Net carrying value | ||||||||
| GE | ||||||||
| Land and improvements | $ | 671 | $ | 582 | ||||
| Buildings, structures and related equipment | 4,205 | 4,003 | ||||||
| Machinery and equipment | 9,701 | 9,061 | ||||||
| Leasehold costs and manufacturing plant under construction | 2,997 | 2,387 | ||||||
| 17,574 | 16,033 | |||||||
| GECC(b) | ||||||||
| Land and improvements, buildings, structures and related equipment | 1,025 | 999 | ||||||
| Equipment leased to others | ||||||||
| Aircraft(c) | 34,938 | 36,231 | ||||||
| Vehicles | 8,312 | 8,634 | ||||||
| Railroad rolling stock | 3,129 | 2,744 | ||||||
| Construction and manufacturing | 1,955 | 2,069 | ||||||
| All other | 2,248 | 2,290 | ||||||
| 51,607 | 52,967 | |||||||
| Eliminations | (354) | (367) | ||||||
| Total | $ | 68,827 | $ | 68,633 | ||||
(a) Depreciable lives exclude land.
(b) Included $1,353 million and $1,466 million of original cost of assets leased to GE with accumulated amortization of $342 million and $451 million at December 31, 2013 and 2012, respectively.
(c) The GECAS business of GE Capital recognized impairment losses of $732 million and $242 million in 2013 and 2012, respectively. These losses are recorded in the caption “Other costs and expenses” in the Statement of Earnings to reflect adjustments to fair value based on an evaluation of average current market values (obtained from third parties) of similar type and age aircraft, which are adjusted for the attributes of the specific aircraft under lease.
Consolidated depreciation and amortization related to property, plant and equipment was $9,762 million, $9,192 million and $8,986 million in 2013, 2012 and 2011, respectively. Amortization of GECC equipment leased to others was $6,696 million, $6,097 million and $6,063 million in 2013, 2012 and 2011, respectively.
Noncancellable future rentals due from customers for equipment on operating leases at December 31, 2013, are as follows:
| (In millions) | ||
| Due in | ||
| 2014 | $ | 7,168 |
| 2015 | 5,925 | |
| 2016 | 4,838 | |
| 2017 | 3,823 | |
| 2018 | 3,070 | |
| 2019 and later | 7,695 | |
| Total | $ | 32,519 |