Annual report pursuant to Section 13 and 15(d)

Property And Equipment, Net

v3.22.4
Property And Equipment, Net
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property And Equipment, Net Property and Equipment, net
Property and equipment, net consisted of the following (in millions):
As of December 31,
2022 2021
Capitalized software $ 724  $ 707 
Building and leasehold improvements (a)
671  653 
Furniture, fixtures and equipment 192  204 
Land 30  30 
Finance leases 27  20 
Construction in progress 8  18 
Total property and equipment 1,652  1,632 
Less: accumulated depreciation and amortization 994  943 
Property and equipment, net $ 658  $ 689 
(a)Includes $242 million and $225 million of unregistered VOI inventory as of December 31, 2022 and 2021.

During 2022, 2021, and 2020, the Company recorded depreciation and amortization expense of $110 million, $115 million, and $117 million related to property and equipment. As of December 31, 2022 and 2021, the Company had accrued capital expenditures of $4 million and $1 million.