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Property (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment, Net [Abstract]

Summary of the Property Accounts

A summary of the property accounts at December 31, 2021 and 2020 is presented below:

(in millions)						2021						2020						Estimated Useful Life
Land and land improvements						$	—					$	7.7					10 - 20 years (1)
Building and building improvements						132.3						167.1						1 - 10 years
Leasehold improvements						232.3						225.5						3 - 19 years
Furniture, fixtures and equipment						519.1						492.9						2 - 7 years
Software and software development costs						661.1						647.2						2 - 4 years
Total property						1,544.8						1,540.4
Less accumulated depreciation and amortization						(1,039.5)						(961.2)
Property, net						$	505.3					$	579.2

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(1) Estimated useful life applies only to land improvements.

In November 2021, the company sold a building and land in Chicago for $39.3 million and recognized a gain of $30.4 million. The gain was recognized in other non-operating income in the consolidated statements of income.

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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