General Motors Co., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land	1,293)	1,307)	1,301)	1,339)	1,302)
Buildings and improvements	13,256)	11,461)	10,542)	9,671)	9,705)
Machinery and equipment	37,075)	33,412)	31,444)	30,013)	29,814)
Special tools	26,086)	24,775)	23,719)	20,851)	23,586)
Construction in progress	8,135)	7,340)	5,395)	3,581)	3,042)
Property, gross	59,759)	53,520)	48,682)	44,604)	43,863)
Accumulated depreciation	(35,524)	(33,047)	(31,286)	(27,823)	(28,699)
Property, net	50,321)	45,248)	41,115)	37,632)	38,750)

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Item	Description	The company
Property, 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.	General Motors Co. property, gross increased from 2021 to 2022 and from 2022 to 2023.
Property, 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.	General Motors Co. property, net increased from 2021 to 2022 and from 2022 to 2023.

General Motors Co., asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	60.76%	63.29%	66.03%	64.31%	67.43%
Estimated total useful life (years)	9	8	8	8	7
Estimated age, time elapsed since purchase (years)	5	5	5	5	4
Estimated remaining life (years)	7	7	7	7	6

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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.	General Motors Co. 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.	General Motors Co. 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.	General Motors Co. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Estimated remaining life		General Motors Co. 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	35,524)	33,047)	31,286)	27,823)	28,699)
Property, gross	59,759)	53,520)	48,682)	44,604)	43,863)
Land	1,293)	1,307)	1,301)	1,339)	1,302)
Asset Age Ratio
Average age¹	60.76%	63.29%	66.03%	64.31%	67.43%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property, gross – Land)
= 100 × 35,524 ÷ (59,759 – 1,293) = 60.76%

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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.	General Motors Co. 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, gross	59,759)	53,520)	48,682)	44,604)	43,863)
Land	1,293)	1,307)	1,301)	1,339)	1,302)
Depreciation and amortization expense	6,719)	6,297)	5,829)	5,354)	6,541)
Asset Age Ratio (Years)
Estimated total useful life¹	9	8	8	8	7

2023 Calculations

¹ Estimated total useful life = (Property, gross – Land) ÷ Depreciation and amortization expense
= (59,759 – 1,293) ÷ 6,719 = 9

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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.	General Motors Co. 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	35,524)	33,047)	31,286)	27,823)	28,699)
Depreciation and amortization expense	6,719)	6,297)	5,829)	5,354)	6,541)
Asset Age Ratio (Years)
Time elapsed since purchase¹	5	5	5	5	4

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation and amortization expense
= 35,524 ÷ 6,719 = 5

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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.	General Motors Co. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated 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, net	50,321)	45,248)	41,115)	37,632)	38,750)
Land	1,293)	1,307)	1,301)	1,339)	1,302)
Depreciation and amortization expense	6,719)	6,297)	5,829)	5,354)	6,541)
Asset Age Ratio (Years)
Estimated remaining life¹	7	7	7	7	6

2023 Calculations

¹ Estimated remaining life = (Property, net – Land) ÷ Depreciation and amortization expense
= (50,321 – 1,293) ÷ 6,719 = 7

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

General Motors Co. (NYSE:GM)

Analysis of Property, Plant and Equipment