Property and Equipment

9 Months Ended

Sep. 30, 2019

Property Plant And Equipment [Abstract]

Property and Equipment

Note 7: Property and Equipment

Property and equipment was as follows:

	September 30,			December 31,
($ in millions)	2019			2018
Land	$	313		$	268
Building and leasehold improvements		300			295
Furniture and equipment		66			54
Construction in progress		190			25
		869			642
Accumulated depreciation		(104	)		(83	)
	$	765		$	559

During the third quarter of 2019, we completed the purchase of 87 hotel units for future conversion to 74 timeshare units in Los Cabos Mexico for $37 million. For the nine months ended September 30, 2019, we recorded non-cash operating activity transfers of $40 million related to the reclassification of deposits on properties for future development into timeshare inventory from Other assets to Property and equipment. Non-cash transfers are reflected in our unaudited condensed consolidated statements of cash flows.