Property, Plant and Equipment Accounting Policy
Property, plant and equipment, less accumulated depreciation are recorded at original cost and are increased by the cost of any significant improvements after purchase. Property, plant and equipment assets, other than land and construction in progress, are depreciated evenly over the estimated useful life of the individual assets. Depreciation begins when the asset is ready for its intended use. For tax purposes, accelerated depreciation methods are used as allowed by tax laws.
Source: Pfizer Inc., Annual Report
Property, Plant and Equipment Disclosure
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Pfizer Inc., Statement of Financial Position, Property, Plant and Equipment
Source: Based on data from Pfizer Inc. 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. |
Pfizer Inc.'s land increased from 2008 to 2009 but then slightly declined from 2009 to 2010.
|
| 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. |
Pfizer Inc.'s buildings increased from 2008 to 2009 but then slightly declined 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. |
Pfizer Inc.'s machinery and equipment increased from 2008 to 2009 and from 2009 to 2010.
|
| Furniture, fixtures and other |
Carrying amount at the balance sheet date for long-lived, depreciable asset commonly used in offices and stores. Examples include desks, chairs, and store fixtures. |
Pfizer Inc.'s furniture, fixtures and other increased from 2008 to 2009 and 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. |
Pfizer Inc.'s construction in progress increased from 2008 to 2009 but then declined significantly from 2009 to 2010.
|
| 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. |
Pfizer Inc.'s property, plant and equipment increased from 2008 to 2009 but then slightly declined from 2009 to 2010.
|
| Property, plant and equipment, less accumulated depreciation |
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. |
Pfizer Inc.'s property, plant and equipment, less accumulated depreciation increased from 2008 to 2009 but then slightly declined from 2009 to 2010.
|
Property, Plant and Equipment Ratios (Summary)
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Pfizer Inc., 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. |
Pfizer Inc.'s average age of depreciable property, plant and equipment improved from 2008 to 2009 but then slightly deteriorated from 2009 to 2010 not reaching 2008 level.
|
Average Age
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2010 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. |
Pfizer Inc.'s average age of depreciable property, plant and equipment improved from 2008 to 2009 but then slightly deteriorated from 2009 to 2010 not reaching 2008 level.
|
