Property and Equipment

12 Months Ended

Dec. 31, 2011

2.	Property and Equipment

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


	As of December 31,
	2011			2010
Land and land improvements	$	1,852		$	1,669
Buildings and leasehold improvements		13,168			12,080
Furniture and equipment		2,079			1,895
Construction in progress		196			168

		17,295			15,812
Less accumulated depreciation and amortization		(5,912	)		(5,298	)

	$	11,383		$	10,514

The aggregate cost of real estate for federal income tax purposes is approximately $10,570 million at December 31, 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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