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Analysis of Property, Plant and Equipment
Advanced level
Property, Plant and Equipment Disclosure
CSX Corp., balance sheet: property, plant and equipment
US$ in millions
Based on: 10-K (filing date: 2020-02-12), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-07), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-10).
| Item | Description | The company |
|---|---|---|
| Properties, cost | 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. | CSX Corp.’s properties, cost increased from 2017 to 2018 and from 2018 to 2019. |
| Properties, net book value | 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. | CSX Corp.’s properties, net book value increased from 2017 to 2018 and from 2018 to 2019. |
Asset Age Ratios (Summary)
CSX Corp., asset age ratios
Based on: 10-K (filing date: 2020-02-12), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-07), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-10).
| 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’s fixed asset base is old or new. Newer assets are likely to be more efficient. | CSX Corp.’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 and from 2018 to 2019. |
| 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. | CSX Corp.’s estimated total useful life of depreciable property, plant and equipment decreased from 2017 to 2018 and from 2018 to 2019. |
| Estimated time elapsed since purchase | The approximate age in years of a company’s fixed assets. Useful for comparison purposes. | CSX Corp.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
| Estimated remaining life | CSX Corp.’s estimated remaining life of depreciable property, plant and equipment decreased from 2017 to 2018 and from 2018 to 2019. |
Average Age
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 30, 2016 | Dec 25, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Accumulated depreciation | ||||||
| Properties, cost | ||||||
| Land | ||||||
| Asset Age Ratio | ||||||
| Average age1 | ||||||
Based on: 10-K (filing date: 2020-02-12), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-07), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-10).
2019 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Properties, cost – Land)
= 100 × ÷ ( – ) =
| 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’s fixed asset base is old or new. Newer assets are likely to be more efficient. | CSX Corp.’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 and from 2018 to 2019. |
Estimated Total Useful Life
Based on: 10-K (filing date: 2020-02-12), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-07), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-10).
2019 Calculations
1 Estimated total useful life = (Properties, cost – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Asset age 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. | CSX Corp.’s estimated total useful life of depreciable property, plant and equipment decreased from 2017 to 2018 and from 2018 to 2019. |
Estimated Age, Time Elapsed since Purchase
Based on: 10-K (filing date: 2020-02-12), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-07), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-10).
2019 Calculations
1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated time elapsed since purchase | The approximate age in years of a company’s fixed assets. Useful for comparison purposes. | CSX Corp.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Estimated Remaining Life
Based on: 10-K (filing date: 2020-02-12), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-07), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-10).
2019 Calculations
1 Estimated remaining life = (Properties, net book value – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated remaining life | CSX Corp.’s estimated remaining life of depreciable property, plant and equipment decreased from 2017 to 2018 and from 2018 to 2019. |