Note 7-Property and Equipment

 

(In millions)

   

 

   

June 30

2002

 

2003

 

 

 

 

Land

$    197 

 

$    248 

Buildings

  1,701 

 

  1,854 

Computer equipment and software

  2,621 

 

  2,464 

Other

  1,372 

 

  1,512 

Property and equipment - at cost

  5,891 

 

  6,078 

Accumulated depreciation

 (3,623)

 

 (3,855)

Property and equipment - net

$ 2,268 

 

$ 2,223 

 

During 2001, 2002, and 2003, depreciation expense, the majority of which related to computer equipment, was $764 million, $820 million, and $929 million.