PROPERTY AND EQUIPMENT

12 Months Ended

Feb. 25, 2023

Property, Plant and Equipment [Abstract]

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


	February 25, 2023		February 26, 2022
Land	$	2,114.6	$	2,124.0
Buildings	5,366.0		5,211.3
Property under construction	849.2		661.0
Leasehold improvements	2,353.7		2,176.1
Fixtures and equipment	8,056.5		7,542.0
Property and equipment under finance leases	708.3		750.0
Total property and equipment	19,448.3		18,464.4

Accumulated depreciation and amortization	(10,089.6)		(9,114.8)
Total property and equipment, net	$	9,358.7	$	9,349.6

Depreciation expense was $1,433.1 million, $1,392.0 million and $1,297.7 million for fiscal 2022, fiscal 2021 and fiscal 2020, respectively. Amortization expense related to finance lease assets was $55.5 million, $63.8 million and $67.4 million in fiscal 2022, fiscal 2021 and fiscal 2020, respectively. Fixed asset impairment losses of $5.1 million, $2.6 million and $8.0 million were recorded as a component of Gain on property dispositions and impairment losses, net in fiscal 2022, fiscal 2021 and fiscal 2020, respectively. The impairment losses primarily relate to assets in underperforming stores and certain surplus properties.