Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, including owned assets and assets subject to finance leases, consisted of the following as of December 31, 2023 and 2022 (in millions):
2023 2022
Vehicles $ 11,768  $ 10,628 
Aircraft 22,888  22,598 
Land 2,138  2,140 
Buildings 6,255  6,032 
Building and leasehold improvements 5,241  5,067 
Plant equipment 17,322  16,145 
Technology equipment 2,656  2,411 
Construction-in-progress 3,247  2,409 
71,515  67,430 
Less: Accumulated depreciation and amortization (34,570) (32,711)
Property, Plant and Equipment, Net $ 36,945  $ 34,719 
Property, plant and equipment purchased on account was $309 and $176 million as of December 31, 2023 and 2022, respectively. 
There were no material impairment charges to property, plant or equipment during the years ended December 31, 2023 or 2022.
In 2022, we reduced the estimated residual value of our MD-11 aircraft to zero, incurring a one-time charge on our fully-depreciated aircraft. This resulted in an increase in depreciation expense of $76 million, and a decrease in net income of $58 million, or $0.07 per share on a basic and diluted basis, for the year ended December 31, 2022. The change in estimate for the remainder of our MD-11 fleet is being accounted for over the remaining useful lives.