Fixed Assets, Net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Note 10. Fixed Assets, Net

Fixed assets, net as of December 31, 2021 and 2020, were comprised of the following:


(Dollars in millions)	Estimated Useful Lives (Years)			2021		2020
Land and land improvements	5	–	20	$	51	$	52
Buildings	10	–	40		334		328
Machinery and equipment (1)	2	–	25		2,127		2,128
Hydroelectric power plants	10	–	40		301		301
Timberlands, and timberlands improvements and roads	10	–	20		142		136
Construction in progress					67		100
					3,022		3,045
Less: Accumulated depreciation					(1,752)		(1,604)
				$	1,270	$	1,441

(1)Internal-use software included in fixed assets, net as of December 31, 2021 and 2020, was as follows:


(In millions)	2021		2020
Machinery and equipment	$	128	$	124

Less: Accumulated depreciation		(104)		(90)
	$	24	$	34

Depreciation expense related to internal-use software is estimated to be $11 million in 2022, $6 million in 2023, $3 million in 2024, $2 million in 2025 and $2 million in 2026.

We recorded an impairment charge of $124 million for the year ended December 31, 2021, as a result of the announcement on December 16, 2021, of the indefinite idling of pulp and paper operations at the Calhoun mill. We also recorded accelerated depreciation of $38 million for the Amos and Baie-Comeau paper mills for the year ended December 31, 2020. See Note 5, “Closure Costs, Impairment and Other Related Charges” for more information.

Depreciation expense related to fixed assets was $158 million, $163 million and $164 million for the years ended December 31, 2021, 2020 and 2019, respectively.