The estimated useful lives for property and equipment categories are as follows: | | | | | | | | | | Asset Class | | Useful Life | | Equipment | | 1 to 10 years | | Furniture and fixtures | | 3 to 10 years | | Leasehold improvements | | Shorter of the useful life of the leasehold improvements and the remaining lease term except if there is a transfer of ownership or an option to purchase the underlying asset which Flutter is reasonably certain to exercise, in which case leasehold improvements will be amortized over their useful life | | Buildings: Freehold | | 25 to 50 years | | Land | | Not depreciated |
Property and equipment, net consisted of the following as of December 31, 2024 and 2023: | | | | | | | | | | | | | | As of December 31, | | ($ in millions) | 2024 | | 2023 | | Computer equipment | $ | 320 | | | $ | 581 | | | Fixtures and fittings | 287 | | | 356 | | | Land, buildings and leasehold improvements | 250 | | | 301 | | | Property and equipment – Cost | $ | 857 | | | $ | 1,238 | | | Less: Accumulated depreciation | 364 | | | 767 | | | Property and equipment – net | $ | 493 | | | $ | 471 | |
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