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Property, Plant and Equipment | 12 Months Ended
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Jan. 01, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment At the end of fiscal years 2022 and 2021, property, plant and equipment at cost and accumulated depreciation were:
(Dollars in Millions) |  | 2022 |  | 2021
Land and land improvements |  | $ | 859 |  |  | 884 |
Buildings and building equipment |  | 12,989 |  |  | 12,882 |
Machinery and equipment |  | 30,431 |  |  | 29,774 |
Construction in progress |  | 4,974 |  |  | 4,139 |
Total property, plant and equipment, gross |  | $ | 49,253 |  |  | 47,679 |
Less accumulated depreciation |  | 29,450 |  |  | 28,717 |
Total property, plant and equipment, net |  | $ | 19,803 |  |  | 18,962 |
The Company capitalizes interest expense as part of the cost of construction of facilities and equipment. Interest expense capitalized in fiscal years 2022, 2021 and 2020 was $49 million, $49 million and $63 million, respectively. Depreciation expense, including the amortization of capitalized interest in fiscal years 2022, 2021 and 2020 was $2.7 billion, $2.7 billion and $2.6 billion, respectively. Upon retirement or other disposal of property, plant and equipment, the costs and related amounts of accumulated depreciation or amortization are eliminated from the asset and accumulated depreciation accounts, respectively. The difference, if any, between the net asset value and the proceeds are recorded in earnings.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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