PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 27, 2014

PROPERTY AND EQUIPMENT

NOTE 4. PROPERTY AND EQUIPMENT

Property and equipment consists of:

(In millions)	December 27, 2014			December 28, 2013
Land	$	88		$	101
Buildings		431			469
Leasehold improvements		745			780
Furniture, fixtures and equipment		1,480			1,605
		2,744			2,955
Less accumulated depreciation		(1,781	)		(1,646	)
Total	$	963		$	1,309

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

(In thousands)	December 27, 2014			December 28, 2013
Buildings	$	204		$	228
Furniture, fixtures and equipment		74			65
		278			293
Less accumulated depreciation		(124	)		(127	)
Total	$	154		$	166

Depreciation expense was $210 million in 2014, $149 million in 2013, and $152 million in 2012.

Included in furniture, fixtures and equipment above are capitalized software costs of $558 million and $531 million at December 27, 2014 and December 28, 2013, respectively. The unamortized amounts of the capitalized software costs are $148 million and $236 million at December 27, 2014 and December 28, 2013, respectively. Amortization of capitalized software costs totaled $86 million, $56 million and $46 million in 2014, 2013 and 2012, 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 27, 2014 is as follows:

(In millions)
2015	$	74
2016		42
2017		19
2018		9
2019		4
Thereafter		—

The weighted average remaining amortization period for capitalized software is 2.8 years.

Other assets held for sale

Certain facilities identified for closure through integration and other activities have been accounted for as assets held for sale. As of December 27, 2014, these assets amount to $31 million and are presented in Prepaid expenses and other current assets in the Consolidated Balance Sheet. Any gain on these dispositions, which are expected to be completed within one year, will be recognized at the Corporate level and included when realized in Merger, restructuring and other operating expenses, net in the Consolidated Statement of Operations.