PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jul. 29, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 5—PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

(in millions)	Original Estimated Useful Lives	2023		2022
Land		$	136	$	137
Buildings and improvements	10 - 40 years	1,024		998
Leasehold improvements	10 - 20 years	284		241
Equipment	3 - 25 years	1,280		1,130
Motor vehicles	5 - 8 years	56		66
Finance lease assets	1 - 9 years	48		58
Construction in progress		186		140
Property and equipment		3,014		2,770
Less accumulated depreciation and amortization		1,247		1,080
Property and equipment, net		$	1,767	$	1,690

The Company capitalized $5 million, $4 million and $3 million of interest during fiscal 2023, 2022 and 2021, respectively.

Depreciation and amortization expense on property and equipment was $232 million, $213 million and $209 million for fiscal 2023, 2022 and 2021, respectively.