Properties and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Properties and equipment, net is summarized in the following table:


At December 31,	2020		2019
	(in millions)
Land	$	5	$	8
Buildings and improvements(1)	543		642
Furniture and equipment(1)	129		151
Total	677		801
Accumulated depreciation and amortization(1)	(533)		(624)
Properties and equipment, net	$	144	$	177

(1)Decreases since December 31, 2019 are due primarily to the retirement of assets associated with certain branches and office space which we exited in 2020 as part of our Restructuring Plan. See Note 3, "Strategic Initiatives," for further discussion. During 2020, we also recognized $18 million of gains on sales of certain owned retail branch properties. These gains are reflected in other income in the consolidated statement of income (loss) and were reported in the Corporate Center business segment.