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Property and Equipment
12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment
3.
Property and Equipment

Property and equipment consists of the following (in millions):

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

Land and land improvements

 

$

2,020

 

 

$

2,310

 

Buildings and leasehold improvements

 

 

13,849

 

 

 

13,636

 

Furniture and equipment

 

 

2,249

 

 

 

2,225

 

Construction in progress

 

 

313

 

 

 

278

 

 

 

 

18,431

 

 

 

18,449

 

Less accumulated depreciation and amortization

 

 

(8,683

)

 

 

(8,455

)

 

 

$

9,748

 

 

$

9,994

 

 

The aggregate cost of real estate for federal income tax purposes is approximately $9.9 billion at December 31, 2022.