226/264 Notes to the 2017 consolidated financial statements Property and equipment Leasehold improvements Total (in € millions) Accumulated depreciation At January 1, 2016 (47 ) (9 ) (56 ) Depreciation charge (26 ) (6 ) (32 ) Disposals 10 1 11 Exchange differences 1 (1 ) — At December 31, 2016 (62 ) (15 ) (77 ) Depreciation charge (37 ) (9 ) (46 ) Disposals 11 2 13 Exchange differences 4 1 5 At December 31, 2017 (84 ) (21 ) (105 ) Cost, net accumulated depreciation At December 31, 2016 49 36 85 At December 31, 2017 21 52 73 In 2017, the Group shortened the useful life of certain equipment due to a planned transition to the cloud and recorded accelerated depreciation of €11 million. The Group had no such charges in 2016 and 2015. The Group leases various equipment under non­cancellable finance lease agreements over a lease term of 3 years. Property and equipment includes the following amounts where the Group is a lessee under a finance lease: 2016 2017 (in € millions) Finance leases 15 15 Accumulated depreciation (10 ) (14 ) 5 1 F­33