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PROPERTY, EQUIPMENT AND SOFTWARE, NET
12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY, EQUIPMENT AND SOFTWARE, NET PROPERTY, EQUIPMENT AND SOFTWARE, NET
Property, equipment and software, net, consists of the following:
(in millions)December 31, 2020December 31, 2019
Software$204 $174 
Office equipment, including data processing equipment28 27 
Leasehold improvements24 24 
Furniture, fixtures, and equipment16 17 
Projects in progress1 
Total273 245 
Less: Accumulated depreciation(194)(160)
Property and equipment, net$79 $85 
Projects in progress consist primarily of development costs for internally developed software, which we capitalize and amortize on a straight-line basis over the estimated useful life.
The following table summarizes our depreciation expense and capitalized internally developed software costs and related depreciation expense.
 Year Ended December 31,
(in millions)202020192018
Depreciation expense$42 $41 $35 
Capitalized internally developed software costs36 31 33 
Depreciation expense for capitalized internally developed software costs31 29 24