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Property, Plant, and Equipment | 12 Months Ended
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Dec. 31, 2019
Property, Plant and Equipment [Abstract] |
Property, Plant, and Equipment | Property, Plant and Equipment Property, plant and equipment were composed of the following:
| December 31
Millions of dollars | 2019 | 2018
Land | $ | 202 |  | $ | 252 |
Buildings and property improvements | 3,167 |  | 3,461 |
Machinery, equipment and other | 16,571 |  | 18,313 |
Total | 19,940 |  | 22,026 |
Less accumulated depreciation | 12,630 |  | 13,153 |
Net property, plant and equipment | $ | 7,310 |  | $ | 8,873 |
During the year ended December 31, 2019, a $1.4 billion impairment charge was recorded related to property, plant and equipment. See Note 2 to the consolidated financial statements for further discussion on impairments and other charges. Classes of assets are depreciated over the following useful lives:
| Buildings and Property Improvements
| 2019 | 2018
1 - 10 years | 12% | 11%
11 - 20 years | 41% | 42%
21 - 30 years | 22% | 22%
31 - 40 years | 25% | 25%
| Machinery, Equipment and Other
| 2019 | 2018
1 - 5 years | 43% | 34%
6 - 10 years | 47% | 56%
11 - 20 years | 10% | 10%

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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