The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: | | | Furniture, fixtures and equipment | 3 to 7 years | Buildings | 35 to 40 years | Leasehold improvements | 7 years or length of lease term, whichever is shorter | Capitalized software | 3 to 5 years |
A summary of property, equipment and capitalized software is as follows: | | | | | | | | | | (in millions) | | December 31, 2013 | | December 31, 2012 | Land and improvements | | $ | 318 |
| | $ | 358 |
| Buildings and improvements | | 2,051 |
| | 1,910 |
| Computer equipment | | 1,519 |
| | 1,447 |
| Furniture and fixtures | | 564 |
| | 488 |
| Less accumulated depreciation | | (1,760 | ) | | (1,542 | ) | Property and equipment, net | | 2,692 |
| | 2,661 |
| Capitalized software | | 2,233 |
| | 2,300 |
| Less accumulated amortization | | (915 | ) | | (1,022 | ) | Capitalized software, net | | 1,318 |
| | 1,278 |
| Total property, equipment and capitalized software, net | | $ | 4,010 |
| | $ | 3,939 |
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