Property and Equipment

6 Months Ended

Jun. 29, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment are stated at cost. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful lives of the assets, which range from three to 40 years. Property and equipment under financing leases and leasehold improvements are amortized on a straight-line basis over the remaining terms of the related leases or the estimated useful lives of the assets, if reasonably assured the Company will purchase the assets at the end of the lease terms. At June 29, 2019 and December 29, 2018, property and equipment-net included accumulated depreciation of $2,236 million and $2,117 million, respectively. Depreciation expense was $81 million and $74 million for the 13 weeks ended June 29, 2019 and June 30, 2018, respectively, and $153 million and $145 million for the 26 weeks ended June 29, 2019 and June 30, 2018, respectively.