Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net Property and Equipment, Net

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Property and Equipment, Net Property and Equipment, Net
12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, net
7. PROPERTY AND EQUIPMENT, NET
Property and equipment, net consisted of:
As of December 31,
2023 2022
Leasehold improvements 29  30 
Capitalized software 258  290 
Furniture, fixtures and equipment 24  24 
Finance leases 64  64 
Construction in progress 13 
388  417 
Less: Accumulated depreciation 300  318 
$ 88  $ 99 
The Company recorded depreciation expense of $49 million, $46 million, and $57 million during 2023, 2022 and 2021, respectively, related to property and equipment.