The following table shows equipment, property and improvements as of December 31, 2018 and 2017:

	2018		2017
Land	$	27	$	26
Buildings and improvements		978		938
Equipment, furniture and fixtures		658		617
Equipment, property and improvements, at cost		1,663		1,581
Accumulated depreciation and amortization		1,108		1,037
Equipment, property and improvements, net	$	555	$	544

Depreciation and amortization expense on equipment, property and improvements of $94, $85 and $82 is included in the Consolidated Statements of Income within the communications and data processing and occupancy and equipment line items for the years ended December 31, 2018, 2017 and 2016, respectively.

The Partnership's capital expenditures were $105, $80 and $73 for the years ended December 31, 2018, 2017 and 2016, respectively. The capital expenditures in 2018 were primarily related to construction and facilities improvements in branch offices and headquarters, as well as for technology support.

The Partnership has purchased Industrial Revenue Bonds issued by St. Louis County related to certain self-constructed and purchased real and personal property. This provides for potential property tax benefits over the life of the bonds (generally 10 years). The Partnership is therefore both the bondholder and the debtor/lessee for these properties. The Partnership has exercised its right to offset the amounts invested in and the obligations for these bonds and has therefore excluded any bond related balances in the Consolidated Statements of Financial Condition. The amount issued as of December 31, 2018 and 2017 was approximately $270 and $350, respectively.