	September 30, 2019			December 31, 2018
	(in millions)
Land	$	3,594		$	3,344
Buildings and leasehold improvements		7,300			5,616
Furniture and equipment		1,133			949
Construction-in-progress		106			124
		12,133			10,033
Accumulated depreciation and amortization		(2,147	)		(2,058	)
	$	9,986		$	7,975

Depreciation of property and equipment was $60 million and $66 million, respectively, during the three months ended September 30, 2019 and 2018, and $182 million and $205 million during the nine months ended September 30, 2019 and 2018, respectively.

In September 2017, Hurricanes Irma and Maria caused damage and disruption at certain of our hotels in Florida and the Caribe Hilton in Puerto Rico. The Caribe Hilton remained closed throughout 2018 and reopened on May 15, 2019. Our insurance coverage provides us with reimbursement for the replacement cost for the damage to these hotels, which includes certain clean-up and repair costs, exceeding the applicable deductibles, in addition to loss of business.

During the nine months ended September 30, 2019, we recognized $23 million of insurance recoveries, of which $12 million related to property damage, $8 million related to business interruption, and $3 million related to expense reimbursements. Business interruption proceeds are included within ancillary hotel revenue in our condensed consolidated statements of comprehensive income. Additionally, we recognized a net loss of $7 million within casualty loss (gain) and impairment loss, net in our condensed consolidated statements of comprehensive income for amounts not expected to be recovered from insurance. The insurance receivable as of September 30, 2019 and December 31, 2018 was $5 million and $25 million, respectively, and is included within other assets in our condensed consolidated balance sheets.

During the nine months ended September 30, 2018, we incurred $32 million of expenses, and based upon additional information obtained during the period, we recognized an additional loss of $22 million for property and equipment that was damaged during the hurricanes. These amounts were offset by the recognition of an insurance receivable of $54 million. Additionally, we received $108 million of insurance proceeds, of which $15 million related to business interruption and $6 million related to expense reimbursements.