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PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 25, 2021
Property Plant And Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 8. PROPERTY AND EQUIPMENT

Property and equipment consists of:

 

 

 

December 25,

 

 

December 26,

 

(In millions)

 

2021

 

 

2020

 

Land

 

$

45

 

 

$

45

 

Buildings

 

 

200

 

 

 

210

 

Computer software

 

 

693

 

 

 

659

 

Leasehold improvements

 

 

587

 

 

 

598

 

Furniture, fixtures and equipment

 

 

775

 

 

 

784

 

Construction in progress

 

 

12

 

 

 

22

 

 

 

 

2,312

 

 

 

2,318

 

Less accumulated depreciation

 

 

(1,835

)

 

 

(1,776

)

Total

 

$

477

 

 

$

542

 

 

The above table of property and equipment includes assets held under finance leases as follows:

 

 

 

December 25,

 

 

December 26,

 

(In millions)

 

2021

 

 

2020

 

Buildings

 

$

19

 

 

$

34

 

Furniture, fixtures and equipment

 

 

143

 

 

 

147

 

 

 

 

162

 

 

 

181

 

Less accumulated depreciation

 

 

(123

)

 

 

(122

)

Total

 

$

39

 

 

$

59

 

Depreciation expense was $88 million in 2021, $101 million in 2020 and $110 million in 2019.

Included in computer software and construction in progress above are capitalized software costs of $699 million and $671 million at December 25, 2021 and December 26, 2020, respectively. The unamortized amounts of the capitalized software costs are $115 million and $121 million at December 25, 2021 and December 26, 2020, respectively. Amortization of capitalized software costs totaled $49 million, $50 million and $49 million in 2021, 2020 and 2019, respectively. Software development costs that do not meet the criteria for capitalization are expensed as incurred.

Estimated future amortization expense related to capitalized software at December 25, 2021 is as follows:

 

(In millions)

 

2022

 

$

38

 

2023

 

 

31

 

2024

 

 

23

 

2025

 

 

16

 

2026

 

 

7

 

Thereafter

 

 

 

 

The weighted average remaining amortization period for capitalized software is 4 years.