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PROPERTY, BUILDINGS AND EQUIPMENT
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY, BUILDINGS AND EQUIPMENT PROPERTY, BUILDINGS AND EQUIPMENT
Property, buildings and equipment consisted of the following (in millions of dollars):
 As of
 December 31, 2020 December 31, 2019
Land$329  $332 
Building, structures and improvements1,330  1,329 
Furniture, fixtures, machinery and equipment1,878  1,832 
Property, buildings and equipment
$3,537  $3,493 
Less: Accumulated depreciation and amortization2,142  2,093 
Property, buildings and equipment, net
$1,395  $1,400 

During the first quarter of 2020, the Company recorded approximately $44 million of impairment charges in SG&A in connection with the impairment of Fabory’s long-lived assets, including property, buildings and equipment for approximately $24 million and right-to-use (ROU) assets for approximately $20 million (presented in Other assets) due to the factors discussed in Note 5 to the Financial Statements. The Company divested Fabory during the second quarter of 2020 (see Note 2 to the Financial Statements).