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, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
NOTE 4. 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, 2024 and 2023 (in millions):
2024 2023
Vehicles $ 11,912  $ 11,768 
Aircraft 23,768  22,888 
Land 2,104  2,138 
Buildings 6,714  6,255 
Building and leasehold improvements 5,601  5,241 
Plant equipment 18,495  17,322 
Technology equipment 2,735  2,656 
Construction-in-progress 1,967  3,247 
73,296  71,515 
Less: Accumulated depreciation and amortization (36,117) (34,570)
Property, Plant and Equipment, Net $ 37,179  $ 36,945 
Property, plant and equipment purchased on account was $227 and $309 million as of December 31, 2024 and 2023, respectively. 
There were no material impairment charges to property, plant and equipment during the years ended December 31, 2024 or 2023. We will continue to monitor our long-lived asset groups for impairment.
During the first quarter of 2025, we entered into an agreement in principle with our largest customer that will provide for a significant reduction in their volume. In connection therewith, we will be reconfiguring our U.S. network and expect this reconfiguration to lead to a reduction in the number of buildings, vehicles and aircraft in our network. We are not yet able to identify the specific assets which will be impacted by these actions; however, it is reasonably possible that revisions to our estimates of the useful life and salvage values of certain of our long-lived assets will accelerate depreciation expense and charges related to early retirements may be recognized during future periods.