PROPERTY AND EQUIPMENT

12 Months Ended

Feb. 27, 2021

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following (in millions):


	February 27, 2021		February 29, 2020
Land	$	2,096.8	$	2,119.2
Buildings	4,880.6		4,720.0
Property under construction	938.9		669.3
Leasehold improvements	1,887.1		1,706.6
Fixtures and equipment	6,630.5		5,802.4
Property and equipment under finance leases	755.0		882.5
Total property and equipment	17,188.9		15,900.0

Accumulated depreciation and amortization	(7,776.2)		(6,688.1)
Total property and equipment, net	$	9,412.7	$	9,211.9

Depreciation expense was $1,297.7 million, $1,244.7 million and $1,257.7 million for fiscal 2020, fiscal 2019 and fiscal 2018, respectively. Amortization expense related to finance lease assets was $67.4 million, $90.2 million and $101.4 million in fiscal 2020, fiscal 2019 and fiscal 2018, respectively. Fixed asset impairment losses of $8.0 million, $21.8 million and $31.0 million were recorded as a component of Gain on property dispositions and impairment losses, net in fiscal 2020, fiscal 2019 and fiscal 2018, respectively. The impairment losses primarily relate to assets in underperforming stores, certain surplus properties and fiscal 2019 also includes certain leasehold interests and equipment related to the Plated meal kit subscription and delivery business.