Property, Plant and Equipment

12 Months Ended

Dec. 29, 2012

Note 10 — Property, Plant and Equipment

Major classes of property, plant and equipment were as follows:


	December 29, 2012			December 31, 2011
	(In thousands)
Land and land improvements	$	411,245		$	484,805
Buildings and leasehold improvements		307,655			417,619
Machinery and equipment		511,070			853,127
Vessels and containers		149,173			156,356
Vessels and equipment under capital leases		84,322			85,987
Construction in progress		44,643			63,139

		1,508,108			2,061,033
Accumulated depreciation		(819,218	)		(1,150,304	)

	$	688,890		$	910,729

Depreciation is computed by the straight-line method over the estimated useful lives of the assets as follows:


		Years
Land improvements		3 to 40
Buildings and leasehold improvements		2 to 50
Machinery and equipment		3 to 20
Vessels and containers		5 to 20
Vessels and equipment under capital leases		Shorter of useful life or life of lease

Depreciation expense on property, plant and equipment for continuing operations totaled $61.9 million, $63.1 million and $75.8 million for the years ended December 29, 2012, December 31, 2011 and January 1, 2011 respectively. Depreciation expense on property, plant and equipment for discontinued operations totaled $34.1 million, $36.4 million and $34.6 million for the years ended December 29, 2012, December 31, 2011 and January 1, 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details