Stock Analysis on Net

Mondelēz International Inc. (NASDAQ:MDLZ)

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Mondelēz International Inc., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Land and land improvements 384 378 379 422 422
Buildings and building improvements 3,452 3,250 3,139 3,252 3,140
Machinery and equipment 12,736 11,724 11,842 12,053 11,295
Construction in progress 1,118 879 732 628 680
Property, plant and equipment, gross 17,690 16,231 16,092 16,355 15,537
Accumulated depreciation (7,996) (7,211) (7,434) (7,329) (6,804)
Property, plant and equipment, net 9,694 9,020 8,658 9,026 8,733

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Item Description The company
Property, plant 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. Mondelēz International Inc. property, plant and equipment, gross increased from 2021 to 2022 and from 2022 to 2023.
Property, plant 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. Mondelēz International Inc. property, plant and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Asset Age Ratios (Summary)

Mondelēz International Inc., asset age ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Average age ratio 46.20% 45.49% 47.31% 46.00% 45.01%
Estimated total useful life (years) 23 23 23 24 23
Estimated age, time elapsed since purchase (years) 11 10 11 11 11
Estimated remaining life (years) 13 13 12 13 13

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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. Mondelēz International Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated 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. Mondelēz International Inc. estimated total useful life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Mondelēz International Inc. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Estimated remaining life Mondelēz International Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

Average Age

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation 7,996 7,211 7,434 7,329 6,804
Property, plant and equipment, gross 17,690 16,231 16,092 16,355 15,537
Land and land improvements 384 378 379 422 422
Asset Age Ratio
Average age1 46.20% 45.49% 47.31% 46.00% 45.01%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, gross – Land and land improvements)
= 100 × 7,996 ÷ (17,690384) = 46.20%

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. Mondelēz International Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, gross 17,690 16,231 16,092 16,355 15,537
Land and land improvements 384 378 379 422 422
Depreciation expense 741 690 683 652 645
Asset Age Ratio (Years)
Estimated total useful life1 23 23 23 24 23

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Estimated total useful life = (Property, plant and equipment, gross – Land and land improvements) ÷ Depreciation expense
= (17,690384) ÷ 741 = 23

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. Mondelēz International Inc. estimated total useful life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation 7,996 7,211 7,434 7,329 6,804
Depreciation expense 741 690 683 652 645
Asset Age Ratio (Years)
Time elapsed since purchase1 11 10 11 11 11

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 7,996 ÷ 741 = 11

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. Mondelēz International Inc. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Estimated Remaining Life

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, net 9,694 9,020 8,658 9,026 8,733
Land and land improvements 384 378 379 422 422
Depreciation expense 741 690 683 652 645
Asset Age Ratio (Years)
Estimated remaining life1 13 13 12 13 13

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Estimated remaining life = (Property, plant and equipment, net – Land and land improvements) ÷ Depreciation expense
= (9,694384) ÷ 741 = 13

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