Stock Analysis on Net

Charter Communications Inc. (NASDAQ:CHTR)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 2, 2024.

Analysis of Property, Plant and Equipment

Microsoft Excel

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Property, Plant and Equipment Disclosure

Charter Communications Inc., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cable distribution systems
Customer premise equipment and installations
Vehicles and equipment
Buildings and improvements
Furniture, fixtures and equipment
Property, plant and equipment, gross
Accumulated depreciation
Property, plant and equipment, net of accumulated depreciation

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).


The analysis of property, plant, and equipment data over the five-year period reveals several notable trends and shifts in asset composition and net value.

Cable Distribution Systems
This category shows a consistent upward trend in value, increasing from 31,542 million USD in 2019 to 44,561 million USD in 2023. The growth each year is steady, with a particularly strong increase observed between 2022 and 2023, indicating significant investment or expansion in cable infrastructure.
Customer Premise Equipment and Installations
The values demonstrate a generally stable pattern from 2019 through 2022, with a slight increase from 17,492 million USD to 18,196 million USD. However, a decline occurs in 2023, dropping to 17,043 million USD, suggesting possible divestments, write-offs, or a strategic reduction in this asset category.
Vehicles and Equipment
There is a gradual but steady increase in this category across the years, moving from 1,879 million USD in 2019 to 2,172 million USD in 2023. The incremental growth reflects ongoing acquisitions or upgrades in transport and equipment assets.
Buildings and Improvements
The value rises moderately over the analyzed period, from 4,843 million USD to 5,910 million USD. The growth rate is steady but less pronounced compared to other asset types, suggesting maintenance of existing facilities with selective investments in improvements.
Furniture, Fixtures and Equipment
This category experiences some volatility, initially increasing from 6,491 million USD in 2019 to 7,219 million USD in 2020, then declining slightly in 2021 before rising again through 2023 to 7,585 million USD. Overall, the trend shows moderate growth with some fluctuations, which may reflect replacement cycles or shifting operational needs.
Property, Plant and Equipment, Gross
The gross value of property, plant, and equipment consistently rises year-over-year, from 62,247 million USD in 2019 to 77,271 million USD in 2023. This persistent growth indicates continued capital expenditure and asset base expansion.
Accumulated Depreciation
Accumulated depreciation shows a continuous increase in absolute value (expressed as negative numbers), from -27,656 million USD to -37,751 million USD over the period. This reflects the aging and consumption of assets, as well as systematic depreciation expenses being recorded annually.
Property, Plant and Equipment, Net of Accumulated Depreciation
The net book value remains relatively stable around the mid-34,000 million USD level from 2019 to 2021, before increasing to 36,039 million USD in 2022 and further to 39,520 million USD in 2023. This upward trend in net assets suggests that additions to fixed assets and capital improvements have outpaced depreciation expenses, enhancing the overall asset base value.

In summary, the data indicates a strategic emphasis on expanding and upgrading cable distribution systems, accompanied by steady investments in vehicles, buildings, and general equipment. While customer premise equipment experienced a recent decline, the overall property, plant, and equipment holdings have grown in gross and net terms, underpinning asset base growth within the company during the period analyzed.


Asset Age Ratios (Summary)

Charter Communications Inc., asset age ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Average age ratio
Estimated total useful life (years)
Estimated age, time elapsed since purchase (years)
Estimated remaining life (years)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).


Average Age Ratio
The average age ratio shows an increasing trend from 44.43% in 2019 to a peak of 50.09% in 2022, followed by a slight decline to 48.86% in 2023. This indicates that the property, plant, and equipment assets have generally been aging over the period, reaching their highest relative age in 2022 before marginally rejuvenating in the subsequent year.
Estimated Total Useful Life
The estimated total useful life of the assets remained constant at 8 years for 2019 and 2020, then increased to 9 years in 2021, and further to 10 years in 2022 and 2023. This upward adjustment suggests a reassessment of asset longevity, indicating expectations of longer service life for the equipment in the more recent years.
Estimated Age, Time Elapsed Since Purchase
The estimated age of the assets remained steady at 4 years from 2019 through 2021, before increasing to 5 years in both 2022 and 2023. This pattern reflects the natural aging of the assets as the company retains its equipment over time.
Estimated Remaining Life
The estimated remaining life consistently stood at 4 years from 2019 to 2021, and then rose to 5 years in 2022 and was maintained at 5 years in 2023. This increase corresponds with the rise in estimated total useful life, indicating improved longevity expectations and possibly extension or upgrades of the asset base.

Average Age

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation
Property, plant and equipment, gross
Asset Age Ratio
Average age1

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Average age = 100 × Accumulated depreciation ÷ Property, plant and equipment, gross
= 100 × ÷ =


Accumulated Depreciation
The accumulated depreciation shows a steady increase over the five-year period, rising from $27,656 million in 2019 to $37,751 million in 2023. This consistent upward trend indicates ongoing asset usage and depreciation expenses being systematically recorded.
Property, Plant, and Equipment, Gross
The gross value of property, plant, and equipment has also increased consistently, from $62,247 million in 2019 to $77,271 million in 2023. This suggests sustained investments or acquisitions of fixed assets across these years.
Average Age Ratio
The average age ratio, expressed as a percentage, exhibited an increasing trend from 44.43% in 2019 to a peak of 50.09% in 2022, before slightly declining to 48.86% in 2023. This pattern may indicate that the asset base was aging until 2022, with a minor rejuvenation or replacement of assets occurring thereafter.
Overall Analysis
The combined trends of rising gross property values and accumulated depreciation, alongside the evolving average age ratio, indicate a dynamic asset management strategy involving both asset acquisition and depreciation. While assets are aging over time, the slight recent decrease in average age ratio suggests efforts to modernize or refresh the asset base in the latest year.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, gross
Depreciation expense
Asset Age Ratio (Years)
Estimated total useful life1

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Estimated total useful life = Property, plant and equipment, gross ÷ Depreciation expense
= ÷ =


The analysis of the property, plant, and equipment (PP&E) data over the five-year period reveals several notable trends and patterns.

Property, Plant and Equipment, Gross
The gross value of property, plant, and equipment shows a consistent upward trend over the period, increasing from $62,247 million at the end of 2019 to $77,271 million by the end of 2023. This steady increase reflects ongoing investments or capital expenditures in fixed assets. The growth rate appears gradual but sustained each year with no declines, indicating a commitment to expanding or upgrading the company's physical asset base.
Depreciation Expense
Depreciation expense remains relatively stable, starting at $7,800 million in 2019 and holding steady through 2020. It slightly decreases to $7,700 million in 2021 and further to $7,600 million in 2022 and 2023. This minor decline in depreciation expense despite the increase in gross PP&E values could suggest changes in depreciation policies, asset mix, or the age profile of the assets.
Estimated Total Useful Life
The estimated total useful life of the assets extends from 8 years initially in 2019 and 2020 to 9 years in 2021 and then 10 years in both 2022 and 2023. This increase in estimated useful life may contribute to the slight decrease in annual depreciation expense, as assets are being depreciated over a longer period, thus lowering the yearly charge.

Overall, the data indicates a steady increase in the gross value of property, plant, and equipment, paired with a modest decrease in annual depreciation expense due likely to an extension in the asset useful life estimates. This suggests a strategy of sustained asset investment combined with revised assumptions about asset longevity, resulting in a somewhat lower annual depreciation burden despite a growing asset base.


Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation
Depreciation expense
Asset Age Ratio (Years)
Time elapsed since purchase1

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= ÷ =


The analysis of the property, plant, and equipment-related financial data reveals specific trends regarding accumulated depreciation, depreciation expense, and the time elapsed since purchase over the five-year period.

Accumulated Depreciation
The accumulated depreciation consistently increased each year, starting from US$27,656 million at the end of 2019 and rising steadily to US$37,751 million by the end of 2023. This upward trend indicates a continuous allocation of the cost of tangible assets over their useful lives, reflecting ongoing wear and usage as well as the aging of the asset base.
Depreciation Expense
The depreciation expense remained relatively stable across the years, fluctuating slightly but holding steady around US$7,600 to US$7,800 million annually. Specifically, it was US$7,800 million in both 2019 and 2020, then marginally dropped to US$7,700 million in 2021, and further to US$7,600 million for 2022 and 2023. This consistency suggests a steady depreciation policy and a relatively uniform asset base without major acquisitions or disposals affecting annual depreciation significantly.
Time Elapsed Since Purchase
The time elapsed metric indicates the average age of the assets since purchase. For the initial three years (2019-2021), the time elapsed remained constant at 4 years, before increasing to 5 years in both 2022 and 2023. This suggests that the assets are aging, and there may have been limited new asset purchases or replacements during the later years, allowing the average age to increase.

In summary, the data portrays a mature asset base with consistent depreciation charges and increasing accumulated depreciation, corresponding with slight aging of assets over time. This stability implies no significant fluctuations in capital investment or asset turnover during the evaluated period.


Estimated Remaining Life

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, net of accumulated depreciation
Depreciation expense
Asset Age Ratio (Years)
Estimated remaining life1

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Estimated remaining life = Property, plant and equipment, net of accumulated depreciation ÷ Depreciation expense
= ÷ =


Property, Plant and Equipment, Net of Accumulated Depreciation
The net value showed a slight decline from 34,591 million USD in 2019 to 34,310 million USD in 2021. Starting in 2022, there was a noticeable upward trend, with the net value increasing to 36,039 million USD, and further rising to 39,520 million USD in 2023. This suggests a recent period of asset growth or additions exceeding depreciation.
Depreciation Expense
The depreciation expense remained relatively stable over the five-year period, consistently around 7,800 million USD until 2020 and gradually decreasing to 7,600 million USD from 2022 through 2023. The slight reduction in expense may reflect changes in asset composition or depreciation methods.
Estimated Remaining Life
The average estimated remaining life of the property, plant, and equipment maintained at 4 years from 2019 to 2021. In 2022 and 2023, this estimate extended to 5 years, indicating a reassessment that considers either asset renewals, improvements, or longer usage expectations.