Property plant and equipment, net

12 Months Ended

Jul. 01, 2023

Property plant and equipment, net

Property, plant and equipment, net

5. Property, plant and equipment, net

Property, plant and equipment are recorded at cost, less accumulated depreciation, and consist of the following:

	July 1, 2023		July 2, 2022
	(Thousands)
Buildings	$	108,236	$	114,622
Machinery, fixtures and equipment		259,745		249,053
Information technology hardware and software		884,448		842,759
Leasehold improvements		137,745		119,917
Depreciable property, plant and equipment, gross		1,390,174		1,326,351
Accumulated depreciation		(1,109,631)		(1,038,335)
Depreciable property, plant and equipment, net		280,543		288,016
Land		22,036		21,408
Construction in progress		138,978		5,780
Property, plant and equipment, net	$	441,557	$	315,204

Depreciation expense related to property, plant, and equipment, was $82.6 million, $87.4 million and $90.9 million in fiscal 2023, 2022, and 2021, respectively. Interest expense capitalized during fiscal 2023, 2022, and 2021 was not material.