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Property, plant and equipment
 12 Months Ended
Dec. 29, 2024
Property, Plant and Equipment [Abstract]  
Property, plant and equipment Property, plant and equipment
At the end of fiscal years 2024 and 2023, property, plant and equipment at cost and accumulated depreciation were:
(Dollars in Millions)20242023
Land and land improvements$718795
Buildings and building equipment12,31712,375
Machinery and equipment29,44428,979
Construction in progress6,2895,627
Total property, plant and equipment, gross$48,76847,776
Less accumulated depreciation28,25027,878
Total property, plant and equipment, net$20,51819,898
The Company capitalizes interest expense as part of the cost of construction of facilities and equipment. Interest expense capitalized in fiscal years 2024, 2023 and 2022 was $79 million, $70 million and $49 million, respectively.
Depreciation expense, including the amortization of capitalized interest in fiscal years 2024, 2023 and 2022 was $2.8 billion, $2.6 billion and $2.4 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.