Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2014

Property Plant And Equipment [Abstract]

Property and equipment consists of the following for the periods presented:

	December 31, 2014			December 31, 2013
	(in millions)
Capitalized software and website development	$	104		$	73
Leasehold improvements		40			22
Computer equipment		31			21
Furniture, office equipment and other		11			6
		186			122
Less: accumulated depreciation		(77	)		(48	)
Construction in progress (1)		86			8
Property and equipment, net	$	195		$	82

(1)

We capitalize construction in progress for build-to-suit lease agreements where we are considered the owner, for accounting purposes only, during the construction period. These amounts represent construction costs to date incurred by the landlord and the Company related to our future corporate headquarters in Needham, MA. During the years ended December 31, 2014 and 2013, we capitalized $52 million and $8 million, respectively, in non-cash construction costs which were incurred by the landlord, with a corresponding liability recorded in other long-term liabilities, and in addition, we capitalized $26 million in normal and structural tenant improvements on our consolidated balance sheet incurred by the Company. Refer to “Note 12 – Commitments and Contingencies,” for additional information on our future corporate headquarters lease.