The following table shows equipment, property and improvements as of December 31, 2019 and 2018:

	2019		2018
Buildings and improvements	$	1,012	$	978
Equipment, furniture and fixtures		713		658
Land		43		27
Equipment, property and improvements, at cost		1,768		1,663
Accumulated depreciation and amortization		1,152		1,108
Equipment, property and improvements, net	$	616	$	555

Depreciation and amortization expense on equipment, property and improvements of $115, $94 and $85 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, 2019, 2018 and 2017, respectively.

The Partnership's capital expenditures were $176, $105 and $80 for the years ended December 31, 2019, 2018 and 2017, respectively. The capital expenditures in 2019 were primarily related to construction and facilities improvements in branch offices and headquarters, as well as for technology support.

The Partnership purchased Industrial Revenue Bonds issued by St. Louis County related to certain self-constructed and purchased real and personal property for potential property tax benefits over the life of the bonds (generally 10 years). The bonds matured in December 2019. The Partnership was therefore both the bondholder and the debtor/lessee for these properties while the bonds were held. The Partnership exercised its right to offset the amounts invested in and the obligations for these bonds and therefore excluded any bond related balances in the Consolidated Statements of Financial Condition. The amount issued as of December 31, 2019 and 2018 was approximately $0 and $270, respectively.