v3.23.2
Property, Plant, and Equipment
 12 Months Ended
Jul. 01, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment

7. Property, Plant, and Equipment

Property, plant, and equipment as of July 1, 2023 and July 2, 2022 consisted of the following:

 

(In millions)

 

As of
July 1, 2023

 

 

As of
July 2, 2022

 

 

Range of Lives

 

Buildings and building improvements

 

$

1,019.1

 

 

$

943.2

 

 

10 – 39 years

 

Land

 

 

102.2

 

 

 

101.4

 

 

 

—

 

Transportation equipment

 

 

1,076.4

 

 

 

880.6

 

 

2 – 10 years

 

Warehouse and plant equipment

 

 

657.3

 

 

 

599.6

 

 

3 – 20 years

 

Office equipment, furniture, and fixtures

 

 

415.4

 

 

 

377.8

 

 

2 – 10 years

 

Leasehold improvements

 

 

300.3

 

 

 

281.5

 

 

Lease term(1)

 

Construction-in-process

 

 

163.2

 

 

 

147.3

 

 

 

 

 

 

 

3,733.9

 

 

 

3,331.4

 

 

 

 

Less: accumulated depreciation and amortization

 

 

(1,469.9

)

 

 

(1,196.9

)

 

 

 

Property, plant and equipment, net

 

$

2,264.0

 

 

$

2,134.5

 

 

 

 

(1)
Leasehold improvements are depreciated over the shorter of the useful life of the asset or the lease term.

Total depreciation expense for the fiscal 2023, fiscal 2022, and fiscal 2021 was $315.7 million, $279.7 million, and $213.9 million, respectively, and is included in operating expenses on the consolidated statement of operations.