Question

Estimating the Percent Depreciated

The property and equipment footnote from the Deere & Company balance sheet follows ($ millions):

PROPERTY AND DEPRECIATION
A summary of property and equipment at October 31, 2014, in millions of dollars follows:

	2014
Land	$121
Buildings and building equipment	2,501
Machinery and equipment	4,254
Dies, patterns, tools, etc	1,213
All other	770
Construction in progress	649
Total at cost	9,508
Less accumulated depreciation	5,396
Property and equipment - net	$4,112

During 2014, the company reported $516 million of depreciation expense.

Estimate the percent depreciated of Deere's depreciable assets. Round to one decimal place.
Answer%

Answer 1

	Million $
Buildings and building equipment	2,501
Machinery and equipment	4,254
Dies, patterns, tools, etc	1,213
All other	770
Total Depreciable asset Cost	8,738
Precentage Depreciated	= Accmulated Depreciation / Total Depreciable Asset Cost
	= 5,396 / 8,738
	= 61.8%