Equipment, Property and Improvements

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Equipment, Property and Improvements

NOTE 7 – FIXED ASSETS

The following table shows fixed assets as of December 31:

	2021		2020
Buildings and improvements	$	1,115	$	1,050
Equipment, furniture and fixtures		598		569
Software		295		194
Land		47		43
Fixed assets, at cost		2,055		1,856
Less: accumulated depreciation		1,192		1,110
Less: accumulated software amortization		138		126
Fixed assets, net	$	725	$	620

Depreciation expense on equipment, property and improvements of $113, $116 and $107 and amortization expense on software of $16, $9 and $8 is included in the Consolidated Statements of Income within the occupancy and equipment and communications and data processing line items for the years ended December 31, 2021, 2020, and 2019, respectively.

The Partnership's weighted average amortization period for software was five years as of December 31, 2021 and 2020.

The following table shows the expected future amortization of software, excluding $56 of capitalized software costs not yet placed in service that will be amortized in future periods as of December 31:

	2021
2022	$	25
2023		24
2024		23
2025		20
2026		9
Total	$	101

The Partnership's capital expenditures were $234, $129 and $176 for the years ended December 31, 2021, 2020, and 2019, respectively. The capital expenditures in 2021 were primarily related to software and other technology, real estate and facilities improvements in branch offices.