Steelcase
Inc.
Notes
to Consolidated Financial Statements
Note 4
Property and Equipment, Net
Property and equipment, net consist of:
| (in millions) | ||||
|
|
||||
| February 27, 1998 | February 28, 1997 | |||
|
|
||||
| Land | $ | 35.5 | $ | 35.5 |
| Buildings and improvements | 626.0 | 610.7 | ||
| Machinery and equipment | 927.4 | 918.4 | ||
| Furniture and fixtures | 69.9 | 70.4 | ||
| Leasehold improvements | 36.2 | 39.0 | ||
| Software | 37.4 | 26.9 | ||
| Construction in progress | 77.2 | 45.6 | ||
|
|
||||
| 1,809.6 | 1,746.5 | |||
| Accumulated depreciation | ||||
| and amortization | 1,138.4 | 1,101.8 | ||
|
|
||||
| $ | 671.2 | $ | 644.7 | |
|
|
||||
Depreciation and amortization expense approximated $91.1 million, $89.4 million and $89.9 million for 1998, 1997 and 1996, respectively. Construction in progress consists of numerous equipment and facility projects, none of which are material individually or in the aggregate.
