XML 38 R14.htm IDEA: XBRL DOCUMENT v3.22.4
Property, Plant and Equipment
 12 Months Ended
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)20222021
Land and land improvements$859 884 
Buildings and building equipment12,989 12,882 
Machinery and equipment30,431 29,774 
Construction in progress4,974 4,139 
Total property, plant and equipment, gross$49,253 47,679 
Less accumulated depreciation29,450 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.