Property, Plant and Equipment Accounting Policy
Other than those assets that have been written down to their fair values due to impairment, property, plant, and equipment are reported at cost less accumulated depreciation, which is generally provided on the straight-line method over the estimated useful lives of the assets. Accelerated depreciation methods are also used for tax purposes, wherever permitted. Upon sale or retirement of an asset, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is recognized. Planned major maintenance costs are generally expensed as incurred. Expenditures for additions, modifications, and conversions are capitalized when they increase the value or extend the useful life of the asset.
Source: Halliburton Co., Annual Report
Property, Plant and Equipment Disclosure
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Halliburton Co., Statement of Financial Position, Property, Plant and Equipment
Source: Based on data from Halliburton 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. |
Halliburton Co.'s land increased from 2009 to 2010 and from 2010 to 2011.
|
| Buildings and property improvements |
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. |
Halliburton Co.'s buildings and property improvements increased from 2009 to 2010 and from 2010 to 2011.
|
| Machinery, equipment, and other |
Carrying amount as of the balance sheet date of long-lived, depreciable asset used in production process to produce goods and services. |
Halliburton Co.'s machinery, equipment, and other increased from 2009 to 2010 and from 2010 to 2011.
|
| Property, plant, and equipment, gross |
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. |
Halliburton Co.'s property, plant, and equipment, gross increased from 2009 to 2010 and from 2010 to 2011.
|
| Net property, plant, and equipment |
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. |
Halliburton Co.'s net property, plant, and equipment increased from 2009 to 2010 and from 2010 to 2011.
|
Property, Plant and Equipment Ratios (Summary)
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Halliburton Co., Property, Plant and Equipment Ratios
| 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. |
Halliburton Co.'s average age of depreciable property, plant and equipment improved from 2009 to 2010 and from 2010 to 2011.
|
Average Age
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2011 Calculations
| 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. |
Halliburton Co.'s average age of depreciable property, plant and equipment improved from 2009 to 2010 and from 2010 to 2011.
|
