PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 26, 2015

PROPERTY AND EQUIPMENT

NOTE 4. PROPERTY AND EQUIPMENT

Property and equipment consists of:

(In millions)	December 26, 2015			December 27, 2014
Land	$	62		$	88
Buildings		343			431
Leasehold improvements		755			745
Furniture, fixtures and equipment		1,436			1,480
		2,596			2,744
Less accumulated depreciation		(1,811	)		(1,781	)
Total	$	785		$	963

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

(In millions)	December 26, 2015			December 27, 2014
Buildings	$	202		$	204
Furniture, fixtures and equipment		84			74
		286			278
Less accumulated depreciation		(146	)		(124	)
Total	$	140		$	154

Depreciation expense was $193 million in 2015, $210 million in 2014, and $149 million in 2013.

Included in furniture, fixtures and equipment above are capitalized software costs of $544 million and $558 million at December 26, 2015 and December 27, 2014, respectively. The unamortized amounts of the capitalized software costs are $114 million and $148 million at December 26, 2015 and December 27, 2014, respectively. Amortization of capitalized software costs totaled $76 million, $86 million and $56 million in 2015, 2014 and 2013, 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 26, 2015 is as follows:

(In millions)
2016	$	52
2017		31
2018		18
2019		9
2020		4

The weighted average remaining amortization period for capitalized software is 2.4 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. Assets held for sale primarily consist of supply chain facilities and are presented in Prepaid expenses and other current assets in the Consolidated Balance Sheets. The assets held for sale activity in 2015 is presented in the table below.

(In millions)
Balance as of December 27, 2014	$	31
Additions		67
Dispositions		(57	)
Reclassifications and other adjustments		(11	)
Balance as of December 26, 2015	$	30

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 Statements of Operations. Refer to Note 3 for further information on Merger, restructuring and other operating expenses, net, including gains realized related to disposition of held for sale assets.