PROPERTY, PLANT AND EQUIPMENT
|3 Months Ended|
Mar. 31, 2021
|Property, Plant and Equipment [Abstract]|
|PROPERTY, PLANT AND EQUIPMENT||PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment as of March 31, 2021 and December 31, 2020 consisted of the following (in millions):
Property, plant and equipment purchased on account was $454 and $319 million as of March 31, 2021 and December 31, 2020, respectively.
We continually monitor our aircraft fleet utilization in light of current and projected volume levels, aviation fuel prices and other factors. Additionally, we monitor all other property, plant and equipment categories for any indicators that the carrying value of the assets may not be recoverable. We recognized impairment charges of $24 million for the three months ended March 31, 2021 due to the timing of cancellation of certain facility expansion projects. We recognized these impairment charges within Other expenses in the statements of consolidated income. No impairment charges were recorded for the three months ended March 31, 2020.
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef