Expenditures for additions, renewals and improvements are capitalized at cost. Depreciation is computed on a straight-line method based on the estimated useful lives of the related assets. The estimated useful lives of depreciable assets range from 20 to 50 years for buildings and 3 to 20 years for machinery, equipment, and fixtures.
Source: Bristol-Myers Squibb Co., Annual Report
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Bristol-Myers Squibb Co., Statement of Financial Position, Property, Plant and Equipment
USD $ in millions
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Construction in progress | |
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Gross property, plant and equipment | |
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Property, plant and equipment, net | |
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Source: Based on data from Bristol-Myers Squibb Co. Annual Reports
| Item | Description | The company |
|---|---|---|
| Land | Carrying amount as of the balance sheet date of real estate held for productive use. This excludes land held for sale. | Bristol-Myers Squibb Co.'s land declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
| Buildings | 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. | Bristol-Myers Squibb Co.'s buildings increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| Machinery, equipment and fixtures | Carrying amount as of the balance sheet date of long-lived, depreciable asset used in production process to produce goods and services. | Bristol-Myers Squibb Co.'s machinery, equipment and fixtures declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
| 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. | Bristol-Myers Squibb Co.'s construction in progress declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
| Gross property, plant and equipment | 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. | Bristol-Myers Squibb Co.'s gross property, plant and equipment declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
| 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. | Bristol-Myers Squibb Co.'s property, plant and equipment, net declined from 2009 to 2010 and from 2010 to 2011. |
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Bristol-Myers Squibb Co., Property, Plant and Equipment Ratios
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
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Average age | % |
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Estimated total useful life (years) | |
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Estimated age, time elapsed since purchase (years) | |
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Estimated remaining life (years) | |
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| Ratio | Description | The company |
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| 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. | Bristol-Myers Squibb Co.'s average age of depreciable property, plant and equipment deteriorated from 2009 to 2010 and from 2010 to 2011. |
| Estimated total useful life | Over longer time periods, this ratio is a useful measure of company's depreciation policy and can be used for comparisons with competitors. | Bristol-Myers Squibb Co.'s estimated total useful life of depreciable property, plant and equipment declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
| Estimated time elapsed since purchase | The approximate age in years of a company's fixed assets. Useful for comparison purposes. | Bristol-Myers Squibb Co.'s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2009 to 2010 but then deteriorated significantly from 2010 to 2011. |
| Estimated remaining life | Bristol-Myers Squibb Co.'s estimated remaining life of depreciable property, plant and equipment declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
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| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (USD $ in millions) | ||||||
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Accumulated depreciation | |
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Gross property, plant and equipment | |
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Land | |
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Average age1 | % |
% |
% |
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% |
2011 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Gross property, plant and equipment – Land)
= 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. | Bristol-Myers Squibb Co.'s average age of depreciable property, plant and equipment deteriorated from 2009 to 2010 and from 2010 to 2011. |
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| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (USD $ in millions) | ||||||
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Gross property, plant and equipment | |
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Land | |
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Depreciation expense | |
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| Ratio | ||||||
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Estimated total useful life (years)1 | |
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2011 Calculations
1 Estimated total useful life (years) = (Gross property, plant and equipment – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Ratio | Description | The company |
|---|---|---|
| Estimated total useful life | Over longer time periods, this ratio is a useful measure of company's depreciation policy and can be used for comparisons with competitors. | Bristol-Myers Squibb Co.'s estimated total useful life of depreciable property, plant and equipment declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
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| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (USD $ in millions) | ||||||
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Accumulated depreciation | |
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Depreciation expense | |
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| Ratio | ||||||
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Time elapsed since purchase (years)1 | |
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2011 Calculations
1 Time elapsed since purchase (years) = Accumulated depreciation ÷ Depreciation expense
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Estimated time elapsed since purchase | The approximate age in years of a company's fixed assets. Useful for comparison purposes. | Bristol-Myers Squibb Co.'s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2009 to 2010 but then deteriorated significantly from 2010 to 2011. |
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| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (USD $ in millions) | ||||||
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Property, plant and equipment, net | |
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Land | |
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Depreciation expense | |
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Estimated remaining life (years)1 | |
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2011 Calculations
1 Estimated remaining life (years) = (Property, plant and equipment, net – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Ratio | Description | The company |
|---|---|---|
| Estimated remaining life | Bristol-Myers Squibb Co.'s estimated remaining life of depreciable property, plant and equipment declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
May 23, 2012