Property and Equipment, net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and equipment, net, consist of the following (in millions):


	As of December 31,
	2023		2022
Land	$	987	$	985
Buildings and improvements	1,193		1,165
Restaurant equipment	215		192
Furniture, fixtures, and other	347		300
Finance leases	335		317
Construction in progress	62		52
	3,139		3,011
Accumulated depreciation and amortization	(1,187)		(1,061)
Property and equipment, net	$	1,952	$	1,950

Depreciation and amortization expense on property and equipment totaled $137 million for 2023, $135 million for 2022 and $148 million for 2021.

Included in our property and equipment, net at December 31, 2023 and 2022 are $226 million and $227 million, respectively, of assets leased under finance leases (mostly buildings and improvements), net of accumulated depreciation and amortization of $109 million and $90 million, respectively.