	December 31,
($ in millions)	2020			2019
Land	$	109		$	154
Buildings and leasehold improvements		250			286
Furniture and equipment		65			65
Construction in progress		208			383
		632			888
Accumulated depreciation		(131	)		(110	)
	$	501		$	778

During the year ended December 31, 2020, we recorded non-cash operating activity transfers of $301 million related to the registrations for timeshare units under construction from Property and equipment to Inventory. We also recorded a non-cash operating activity transfer from Inventory to Property and equipment for $16 million related to certain undeveloped land and unallocated infrastructure in Orlando which no longer have a plan for timeshare development. Refer to Note 7: Inventory for further details regarding the strategic change related to assets transferred from inventory. Non-cash transfers are reflected in our consolidated statements of cash flows. See Note 24: Supplemental Disclosure of Cash Flow Information for additional information.

As a result of our long-lived asset impairment analysis, we identified the unallocated land and undeveloped infrastructure mentioned above had indicators of impairment. The analysis resulted in an impairment charge of $8 million related to the undeveloped land and unallocated infrastructure assets previously transferred from Inventory to write-down the assets to their estimated fair value. The remaining estimated fair value is included within Land and Building and leasehold improvements within the table above.

Depreciation expense on property and equipment was $30 million, $35 million, and $23 million for the years ended December 31, 2020, 2019 and 2018 respectively.