Property and Equipment

We record property and equipment at cost, including interest paid on the money we borrow to pay for the construction of major capital additions. See Note 7, Property and Equipment, in the Notes to the Financial Statements, for additional information.

We depreciate buildings and equipment over their estimated useful lives, which range from 3 to 40 years, except buildings with historic status, which are depreciated over 75 years, using the straight-line method.