Comcast Corp., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Distribution systems	45,700)	43,000)	41,814)	40,861)	40,639)
Customer premise equipment	25,000)	25,400)	25,772)	26,323)	26,065)
Buildings, theme park infrastructure and leasehold improvements	20,900)	20,100)	20,258)	15,885)	15,104)
Other equipment	17,500)	17,300)	16,961)	14,371)	13,025)
Construction in process	7,100)	4,900)	3,131)	7,095)	5,245)
Land	2,200)	1,700)	1,722)	1,848)	1,483)
Property and equipment, at cost	118,400)	112,400)	109,658)	106,383)	101,561)
Accumulated depreciation	(58,700)	(56,900)	(55,611)	(54,388)	(53,239)
Property and equipment, net	59,700)	55,500)	54,047)	51,995)	48,322)

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Item	Description	The company
Property and equipment, at cost	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Comcast Corp. property and equipment, at cost increased from 2021 to 2022 and from 2022 to 2023.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Comcast Corp. property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Comcast Corp., asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	50.52%	51.40%	51.52%	52.03%	53.20%
Estimated total useful life (years)	13	13	13	13	12
Estimated age, time elapsed since purchase (years)	7	7	6	7	6
Estimated remaining life (years)	6	6	6	6	5

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Comcast Corp. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Comcast Corp. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Comcast Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		Comcast Corp. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	58,700)	56,900)	55,611)	54,388)	53,239)
Property and equipment, at cost	118,400)	112,400)	109,658)	106,383)	101,561)
Land	2,200)	1,700)	1,722)	1,848)	1,483)
Asset Age Ratio
Average age¹	50.52%	51.40%	51.52%	52.03%	53.20%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property and equipment, at cost – Land)
= 100 × 58,700 ÷ (118,400 – 2,200) = 50.52%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Comcast Corp. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property and equipment, at cost	118,400)	112,400)	109,658)	106,383)	101,561)
Land	2,200)	1,700)	1,722)	1,848)	1,483)
Depreciation expense	8,854)	8,724)	8,628)	8,320)	8,663)
Asset Age Ratio (Years)
Estimated total useful life¹	13	13	13	13	12

2023 Calculations

¹ Estimated total useful life = (Property and equipment, at cost – Land) ÷ Depreciation expense
= (118,400 – 2,200) ÷ 8,854 = 13

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Comcast Corp. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	58,700)	56,900)	55,611)	54,388)	53,239)
Depreciation expense	8,854)	8,724)	8,628)	8,320)	8,663)
Asset Age Ratio (Years)
Time elapsed since purchase¹	7	7	6	7	6

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 58,700 ÷ 8,854 = 7

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Comcast Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property and equipment, net	59,700)	55,500)	54,047)	51,995)	48,322)
Land	2,200)	1,700)	1,722)	1,848)	1,483)
Depreciation expense	8,854)	8,724)	8,628)	8,320)	8,663)
Asset Age Ratio (Years)
Estimated remaining life¹	6	6	6	6	5

2023 Calculations

¹ Estimated remaining life = (Property and equipment, net – Land) ÷ Depreciation expense
= (59,700 – 2,200) ÷ 8,854 = 6

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Asset age ratio	Description	The company
Estimated remaining life		Comcast Corp. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

Comcast Corp. (NASDAQ:CMCSA)

Analysis of Property, Plant and Equipment