CATERPILLAR INC | 2013 | FY | 3

Property, plant and equipment
 
 
 
 
 
December 31,
(Millions of dollars)
 
Useful
Lives (Years)
 
2013
 
2012
 
2011
Land
 
—
 
$
688

 
$
723

 
$
753

Buildings and land improvements
 
20-45
 
6,928

 
6,214

 
5,857

Machinery, equipment and other
 
3-10
 
16,793

 
16,073

 
14,435

Equipment leased to others
 
1-10
 
5,365

 
4,658

 
4,285

Construction-in-process
 
—
 
1,542

 
2,264

 
1,996

Total property, plant and equipment, at cost
 
 
 
31,316

 
29,932

 
27,326

Less: Accumulated depreciation
 
 
 
(14,241
)
 
(13,471
)
 
(12,931
)
Property, plant and equipment–net
 
 
 
$
17,075

 
$
16,461

 
$
14,395

 
 
 
 
 
 
 
 
 
 
We had commitments for the purchase or construction of capital assets of approximately $269 million at December 31, 2013.
 
Assets recorded under capital leases: 1
 
 
 
 
December 31,
(Millions of dollars)
 
2013
 
2012
 
2011
Gross capital leases 2 
 
$
125

 
$
134

 
$
131

Less: Accumulated depreciation
 
(50
)
 
(58
)
 
(75
)
Net capital leases
 
$
75

 
$
76

 
$
56

 
1 
Included in Property, plant and equipment table above.
2 
Consists primarily of machinery and equipment.
 
 
 
 
 
 
At December 31, 2013, scheduled minimum rental payments on assets recorded under capital leases were:
 
(Millions of dollars)
2014
 
2015
 
2016
 
2017
 
2018
 
Thereafter
$
10

 
$
14

 
$
22

 
$
7

 
$
7

 
$
47

 
Equipment leased to others (primarily by Cat Financial):
 
 
 
 
 
 
 
 
December 31,
(Millions of dollars)
 
2013
 
2012
 
2011
Equipment leased to others–at original cost
 
$
5,365

 
$
4,658

 
$
4,285

Less: Accumulated depreciation
 
(1,521
)
 
(1,383
)
 
(1,406
)
Equipment leased to others–net
 
$
3,844

 
$
3,275

 
$
2,879

 
 
 
 
 
 
 
 
At December 31, 2013, scheduled minimum rental payments to be received for equipment leased to others were:
 
(Millions of dollars)
2014
 
2015
 
2016
 
2017
 
2018
 
Thereafter
$
916

 
$
626

 
$
379

 
$
191

 
$
95

 
$
45

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