Property and Equipment

6 Months Ended

Oct. 01, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment, net consists of the following:

	October 1, 2022		April 2, 2022
	(millions)
Land and improvements	$	15.3	$	15.3
Buildings and improvements	462.8		480.4
Furniture and fixtures	566.2		589.6
Machinery and equipment	368.3		375.7
Capitalized software	534.1		532.1
Leasehold improvements	1,135.7		1,170.1
Construction in progress	53.9		55.4
	3,136.3		3,218.6
Less: accumulated depreciation	(2,237.2)		(2,249.1)
Property and equipment, net	$	899.1	$	969.5

Property and equipment, net includes finance lease right-of-use ("ROU") assets, which are reflected in the table above based on their nature.

Depreciation expense was $49.6 million and $101.0 million during the three-month and six-month periods ended October 1, 2022, respectively, and $51.5 million and $104.2 million during the three-month and six-month periods ended September 25, 2021, respectively, and was recorded primarily within SG&A expenses in the consolidated statements of operations.