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Inferring Asset Impairment and Recording Disposal of an Asset In a recent 1 0 - K report, United Parcel Service states it is the

Inferring Asset Impairment and Recording Disposal of an Asset
In a recent 10-K report, United Parcel Service states it "is the world's largest package delivery company, a leader in the U.S. less-than-truckload industry, and a global leader in supply chain management." The following note and data were reported:
Note 1-Summary of Accounting Policies
Impairment of Long-Lived Assets
... we review long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset....
\table[[,Dollars in Millions],[Cost of property and equipment (beginning of year),$33,611
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