Property, plant and equipment are stated at historical cost and depreciated by the straight-line method over the estimated useful lives of the assets. Machinery and equipment are depreciated over periods up to 25 years, and buildings and building improvements over periods up to 50 years.
Source: Altria Group Inc., Annual Report
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Altria Group Inc., Statement of Financial Position, Property, Plant and Equipment
USD $ in millions
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | Dec 31, 2006 | ||
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Land and land improvements | |
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Buildings and building equipment | |
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Machinery and equipment | |
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Construction in progress | |
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Property, plant and equipment, at cost | |
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Accumulated depreciation | |
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Property, plant and equipment, net | |
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Source: Based on data from Altria Group Inc. Annual Reports
| Item | Description | The company |
|---|---|---|
| Land and land improvements | Real estate assets held for productive use and depreciable assets that are an addition or improvement to real estate held for productive use. | Altria Group Inc.'s land and land improvements increased from 2008 to 2009 but then slightly declined from 2009 to 2010. |
| Buildings and building equipment | Carrying amount as of the balance sheet date of long-lived, depreciable assets that include building structures held for productive use including any addition, improvement, or renovation to the structure, such as interior masonry, interior flooring, electrical, and plumbing. | Altria Group Inc.'s buildings and building equipment increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
| Machinery and equipment | Carrying amount as of the balance sheet date of long-lived, depreciable asset used in production process to produce goods and services. | Altria Group Inc.'s machinery and equipment increased from 2008 to 2009 but then slightly declined from 2009 to 2010. |
| Construction in progress | Carrying amount at the balance sheet date of long-lived asset under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. | Altria Group Inc.'s construction in progress declined from 2008 to 2009 and from 2009 to 2010. |
| Property, plant and equipment, at cost | Carrying amount at the balance sheet date for long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, physical structures, machinery, vehicles, furniture, computer equipment, construction in progress, and similar items. Amount does not include depreciation. | Altria Group Inc.'s property, plant and equipment, at cost increased from 2008 to 2009 but then declined significantly from 2009 to 2010. |
| Property, plant and equipment, net | Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. | Altria Group Inc.'s property, plant and equipment, net increased from 2008 to 2009 but then slightly declined from 2009 to 2010 not reaching 2008 level. |
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Altria Group Inc., Property, Plant and Equipment Ratios
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | Dec 31, 2006 | ||
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Average age | % |
% |
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| 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's fixed asset base is old or new. Newer assets are likely to be more efficient. | Altria Group Inc.'s average age of depreciable property, plant and equipment improved from 2008 to 2009 and from 2009 to 2010. |
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| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | Dec 31, 2006 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (USD $ in millions) | ||||||
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Accumulated depreciation | |
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Property, plant and equipment, at cost | |
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Land and land improvements | |
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| Ratio | ||||||
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Average age1 | % |
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2010 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, at cost – Land and land improvements)
= 100 × ÷ ( – ) = %
| 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's fixed asset base is old or new. Newer assets are likely to be more efficient. | Altria Group Inc.'s average age of depreciable property, plant and equipment improved from 2008 to 2009 and from 2009 to 2010. |
February 8, 2012