Note 10 Property, plant and equipment, net

“Property, plant and equipment, net” consisted of the following:

December 31, ($ in millions)

2011

2010

Land and buildings

3,648

3,440

Machinery and equipment

6,847

6,371

Construction in progress

548

447

 

11,043

10,258

Accumulated depreciation

(6,121)

(5,902)

Total

4,922

4,356

Assets under capital leases included in “Property, plant and equipment, net” were as follows:

December 31, ($ in millions)

2011

2010

Land and buildings

80

105

Machinery and equipment

75

76

 

155

181

Accumulated depreciation

(83)

(92)

Total

72

89

In 2011, 2010 and 2009, depreciation expense, including depreciation of assets under capital leases, was $660 million, $545 million and $501 million, respectively.

Financial review

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