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Property, Plant, and Equipment | 12 Months Ended
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Dec. 31, 2020
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 | 2020 | 2019
Land | $ | 120 |  | $ | 202 |
Buildings and property improvements | 1,652 |  | 3,167 |
Machinery, equipment, and other | 13,592 |  | 16,571 |
Total | 15,364 |  | 19,940 |
Less accumulated depreciation | 11,039 |  | 12,630 |
Net property, plant, and equipment | $ | 4,325 |  | $ | 7,310 |
During the year ended December 31, 2020, a $2.3 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
| 2020 | 2019
1 - 10 years | 13% | 12%
11 - 20 years | 41% | 41%
21 - 30 years | 21% | 22%
31 - 40 years | 25% | 25%
| Machinery, Equipment, and Other
| 2020 | 2019
1 - 5 years | 49% | 43%
6 - 10 years | 41% | 47%
11 - 20 years | 10% | 10%

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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