Property, Plant and Equipment, Net

12 Months Ended

Jan. 03, 2015

Note 5. Property, Plant and Equipment, Net

Our Manufacturing group’s property, plant and equipment, net are composed of the following:

(Dollars in millions)	Useful Lives (in years)	January 3, 2015			December 28, 2013
Land and buildings	3 - 40	$	1,818		$	1,636
Machinery and equipment	1 - 20	4,364			4,042
		6,182			5,678
Accumulated depreciation and amortization		(3,685		)	(3,463		)
Total		$	2,497		$	2,215

At January 3, 2015 and December 28, 2013, assets under capital leases totaled $279 million and $247 million and had accumulated amortization of $68 million and $56 million, respectively. The Manufacturing group’s depreciation expense, which included amortization expense on capital leases, totaled $379 million, $335 million and $315 million in 2014, 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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