Costco Wholesale Corp., balance sheet: property, plant and equipment

US$ in millions

	Sep 3, 2023	Aug 28, 2022	Aug 29, 2021	Aug 30, 2020	Sep 1, 2019	Sep 2, 2018
Land	8,590)	7,955)	7,507)	6,696)	6,417)	6,193)
Buildings and improvements	22,001)	20,120)	19,139)	17,982)	17,136)	16,107)
Equipment and fixtures	11,512)	10,275)	9,505)	8,749)	7,801)	7,274)
Construction in progress	1,266)	1,582)	1,507)	1,276)	1,272)	1,140)
Property and equipment, gross	43,369)	39,932)	37,658)	34,703)	32,626)	30,714)
Accumulated depreciation and amortization	(16,685)	(15,286)	(14,166)	(12,896)	(11,736)	(11,033)
Property and equipment, net	26,684)	24,646)	23,492)	21,807)	20,890)	19,681)

Download chart

Item	Description	The company
Property and equipment, gross	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.	Costco Wholesale Corp. property and equipment, gross 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.	Costco Wholesale Corp. property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Costco Wholesale Corp., asset age ratios

		Sep 3, 2023	Aug 28, 2022	Aug 29, 2021	Aug 30, 2020	Sep 1, 2019	Sep 2, 2018
	Average age ratio	47.97%	47.80%	46.98%	46.05%	44.78%	44.99%

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.	Costco Wholesale Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Sep 3, 2023	Aug 28, 2022	Aug 29, 2021	Aug 30, 2020	Sep 1, 2019	Sep 2, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	16,685)	15,286)	14,166)	12,896)	11,736)	11,033)
Property and equipment, gross	43,369)	39,932)	37,658)	34,703)	32,626)	30,714)
Land	8,590)	7,955)	7,507)	6,696)	6,417)	6,193)
Asset Age Ratio
Average age¹	47.97%	47.80%	46.98%	46.05%	44.78%	44.99%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property and equipment, gross – Land)
= 100 × 16,685 ÷ (43,369 – 8,590) = 47.97%

Download chart

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.	Costco Wholesale Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

Costco Wholesale Corp. (NASDAQ:COST)

Analysis of Property, Plant and Equipment