Property and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment were comprised of the following:

($ in millions)	September 30, 2022		December 31, 2021
Land	$	234	$	193
Building and leasehold improvements	400		405
Furniture and equipment	80		82
Construction in progress	249		231
	963		911
Accumulated depreciation	(187)		(155)
	$	776	$	756

Land increased by $48 million during the second quarter of 2022 from December 31, 2021. We concluded that certain parcels of land and infrastructure which were previously classified as held for sale, no longer met the held for sale criteria. Thus, these assets were reclassified to property and equipment as a non-cash transfer. The assets were measured at fair value as of June 30, 2022 as assets held for sale prior to reclassification, principally utilizing market approaches for the land parcels and the cost approach for infrastructure. During the second quarter of 2022, we recorded a reversal of impairment expense of $7 million corresponding with this reclassification