Property and Equipment

3 Months Ended

Mar. 31, 2021

Property Plant And Equipment [Abstract]

Property and Equipment

Note 4: Property and Equipment

Property and equipment were:

	March 31, 2021			December 31, 2020
	(in millions)
Land	$	3,429		$	3,429
Buildings and leasehold improvements		6,960			6,951
Furniture and equipment		1,046			1,042
Construction-in-progress		44			52
		11,479			11,474
Accumulated depreciation and amortization		(2,354	)		(2,281	)
	$	9,125		$	9,193

Depreciation of property and equipment was $73 million and $74 million during the three months ended March 31, 2021 and 2020, respectively.

For the three months ended March 31, 2020, we recognized $88 million of impairment losses, primarily related to one of our hotels, and our inability to recover the carrying value of the asset because of COVID-19.