









|
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NOTE 7 PROPERTY AND EQUIPMENT
(In millions) |
Year Ended June 30 |
2003 |
|
2004 |
|
Land |
$(2,248( |
|
$(1,274( |
Buildings and improvements |
1,854( |
|
1,981( |
Leasehold improvements |
768( |
|
805( |
Computer equipment and software |
2,464( |
|
2,637( |
Furniture and equipment |
744( |
|
792( |
Property and equipment, at cost |
6,078( |
|
6,489( |
Accumulated depreciation |
(3,855) |
|
(4,163) |
Property and equipment, net |
$(2,223( |
|
$(2,326( |
Property and equipment are stated at cost. Depreciation is computed principally on the straight-line method over the estimated useful lives of the assets. The useful lives for buildings range from five to fifteen years, leasehold improvements range from the shorter of five years or applicable lease term, computer equipment and software range from two to three years, and furniture and equipment range from one to five years. Land is not depreciated.
During fiscal 2002, 2003, and 2004, depreciation expense was $820 million, $929 million, and $647 million, the majority of which related to computer equipment.
  
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