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Property, Plant, and Equipment
9 Months Ended
May 28, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment
Property, Plant, and Equipment
As ofMay 28,
2020
August 29,
2019
Land$352  $352  
Buildings12,068  10,931  
Equipment(1)
47,292  44,051  
Construction in progress(2)
2,674  1,700  
Software885  790  
 63,271  57,824  
Accumulated depreciation(33,190) (29,584) 
 $30,081  $28,240  
(1)Included costs related to equipment not placed into service of $817 million as of May 28, 2020 and $2.33 billion as of August 29, 2019.
(2)Included building-related construction, tool installation, and software costs for assets not placed into service.

We periodically assess the estimated useful lives of our property, plant, and equipment. Based on our assessment of planned technology node transitions, capital spending, and re-use rates, we revised the estimated useful lives of the existing equipment in our NAND wafer fabrication facilities and our research and development (“R&D”) facilities from five years to seven years as of the beginning of the first quarter of 2020. This revision reduced our aggregate depreciation expense by approximately $510 million in the first nine months of 2020, of which approximately $150 million remained capitalized in inventory as of the end of the third quarter of 2020. Adjusting for the effect of the reduced amount of depreciation expense remaining in inventory, the revision in estimated useful lives benefited both operating income and net income by approximately $160 million and diluted earnings per share by approximately $0.14 for the third quarter of 2020, and benefited both operating income and net income by approximately $360 million and diluted earnings per share by approximately $0.32 for the first nine months of 2020.