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PROPERTY AND EQUIPMENT, NET
12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET PROPERTY AND EQUIPMENT, NET
December 31, 2024December 31, 2023
Land$482 $564 
Buildings and improvements1,591 2,645 
Leasehold improvements209 191 
Furniture, equipment, and computers891 1,166 
Construction in progress44 23 
Total property and equipment3,217 4,589 
Less: accumulated depreciation(1,528)(2,249)
Total property and equipment, net$1,689 $2,340 
 Year Ended December 31,
202420232022
Depreciation expense$202 $219 $216 
During the year ended December 31, 2024, we identified changes in circumstances that indicated that the carrying values of certain asset groups, inclusive of property and equipment and operating lease ROU assets (see Note 8), may not be recoverable. We assessed the recoverability of the net book values and determined that the carrying values of certain asset groups were not fully recoverable. We then estimated the fair values of these assets, which are classified as Level Three in the hierarchy, using pending third-party offers or internally-developed cash flow models, which incorporated cash flow assumptions based on current economic trends, historical experience, and future growth projections. We determined that the carrying values of certain asset groups were in excess of the fair values, and we allocated the impairment charges to the long-lived assets within the asset group. We recognized $21 million of impairment charges related to property and equipment. The impairment charges were recognized in asset impairments on our consolidated statements of income during the year ended December 31, 2024 within our owned and leased segment.
For additional information about acquisition and disposition activity impacting property and equipment, see Note 7.