Property and Equipment

12 Months Ended

Dec. 31, 2013

2.	Property and Equipment

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

	As of December 31,
	2013			2012
Land and land improvements	$	1,973		$	1,996
Buildings and leasehold improvements		13,435			13,665
Furniture and equipment		2,223			2,227
Construction in progress		176			199
		17,807			18,087
Less accumulated depreciation and amortization		(6,812	)		(6,499	)
	$	10,995		$	11,588

The aggregate cost of real estate for federal income tax purposes is approximately $10.7 billion at December 31, 2013.

- 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.

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