PROPERTY, PLANT AND EQUIPMENT
|9 Months Ended|
Sep. 30, 2021
|Property, Plant and Equipment [Abstract]|
|PROPERTY, PLANT AND EQUIPMENT||PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment as of September 30, 2021 and December 31, 2020 consisted of the following (in millions):
Property, plant and equipment purchased on account was $365 and $319 million as of September 30, 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. There were no material impairment charges to our property, plant and equipment for the three months ended September 30, 2021. For the nine months ended September 30, 2021, we recognized impairment charges of $30 million due to the cancellation of certain facility automation and expansion projects. There were no material impairment charges for the corresponding periods of 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