Quarterly report [Sections 13 or 15(d)]

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment as of March 31, 2025 and December 31, 2024 consisted of the following (in millions):
2025 2024
Vehicles $ 11,954  $ 11,912 
Aircraft 23,751  23,768 
Land 2,114  2,104 
Buildings 6,851  6,714 
Building and leasehold improvements 5,716  5,601 
Plant equipment 18,731  18,495 
Technology equipment 2,781  2,735 
Construction-in-progress 1,824  1,967 
73,722  73,296 
Less: Accumulated depreciation and amortization (36,472) (36,117)
Property, Plant and Equipment, Net $ 37,250  $ 37,179 
Property, plant and equipment purchased on account was $160 and $227 million as of March 31, 2025 and December 31, 2024, respectively.
There were no material impairment charges for the three months ended March 31, 2025 or 2024. We will continue to monitor our long-lived asset groups for impairment.
Our Network of the Future initiative is intended to enhance our efficiency through automation and operational sort consolidation in our U.S. Domestic network. In connection with our plan for lower volumes from our largest customer, we began our Network Reconfiguration initiative, which is an expansion of Network of the Future and will lead to a reduction in the number of buildings, vehicles and aircraft in our network. As of March 31, 2025, accelerated depreciation and early retirements were not material. We continue to evaluate our network and it is reasonably possible that these plans will continue to result in revisions to our estimates of the useful lives and salvage values of certain of our long-lived assets. Any revision to these plans could accelerate depreciation expense and lead to the recognition of charges related to early retirements in future periods. For additional information, see note 17 to the unaudited, consolidated financial statements.