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Notes to Consolidated Financial StatementsNote 15: Property, Plant and Equipment
 
 
 
 
December 31 (Dollars in millions)   Estimated useful lives–new (years)     2006     2005  
Original cost                  
GE                  
Land and improvements   8 (a)   
$ 1,054
   
$ 1,366
 
Buildings, structures and related equipment   8–40     10,875     10,044  
Machinery and equipment   4–20     24,988     25,811  
Leasehold costs and manufacturing plant under construction   1–10     2,716     2,157  
          39,633     39,378  
GECS(b)                  
Land, buildings and equipment   1–40 (a)    5,447     5,543  
Equipment leased to others                  
Aircraft   20     36,146     32,941  
Vehicles   1–14     26,937     23,208  
Mobile and modular space   12–25     4,059     2,889  
Railroad rolling stock   5–36     3,509     3,327  
Construction and manufacturing   2–25     1,932     1,609  
All other   2–33     2,771     2,834  
          80,801     72,351  
Total        
$ 120,434
   
$ 111,729
 
Net carrying value                  
GE                  
Land and improvements        
$ 926
   
$ 1,269
 
Buildings, structures and related equipment         5,279     4,823  
Machinery and equipment         8,073     8,525  
Leasehold costs and manufacturing plant under construction         2,460     1,887  
          16,738     16,504  
GECS(b)                  
Land, buildings and equipment         3,012     3,116  
Equipment leased to others                  
Aircraft(c)         29,886     27,116  
Vehicles         17,132     14,064  
Mobile and modular space         2,546     1,496  
Railroad rolling stock         2,395     2,188  
Construction and manufacturing         1,291     1,088  
All other         1,966     1,956  
          58,228     51,024  
Total        
$ 74,966
   
$ 67,528
 
(a) Estimated useful lives exclude land.
(b) Included $1,763 million and $1,935 million of original cost of assets leased to GE with accumulated amortization of $293 million and $298 million at December 31, 2006 and 2005, respectively.
(c) The Aviation Financial Services business of Infrastructure recognized impairment losses of $51 million in 2006 and $295 million in 2005 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.

Amortization of GECS equipment leased to others was $5,839 million, $5,642 million and $5,365 million in 2006, 2005 and 2004, respectively. Noncancellable future rentals due from customers for equipment on operating leases at December 31, 2006, are as follows:

 
 
(In millions)      
Due in      
2007  
$ 8,253
 
2008   7,013  
2009   5,744  
2010   4,550  
2011   3,322  
2012 and later   9,647  
Total  
$ 38,529
 

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