Microsoft Excel LibreOffice Calc

Comcast Corp. (CMCSA)


Analysis of Property, Plant and Equipment

Advanced level


Property, Plant and Equipment Disclosure

Comcast Corp., balance sheet: property, plant and equipment

US$ in millions

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cable distribution system 38,380  36,046  34,028  32,586  31,655 
Customer premises equipment 26,208  26,392  28,621  28,559  27,086 
Other equipment 12,437  10,518  9,471  8,539  7,860 
Buildings and leasehold improvements 14,188  12,346  10,653  10,829  8,650 
Construction in process 2,991  1,752  1,901  —  — 
Land 1,539  1,332  1,273  1,252  1,112 
Property and equipment, at cost 95,743  88,386  85,947  81,765  76,363 
Accumulated depreciation (51,306) (49,916) (49,694) (48,100) (45,410)
Property and equipment, net 44,437  38,470  36,253  33,665  30,953 

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

Item Description The company
Property and equipment, at 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. Comcast Corp.’s property and equipment, at cost increased from 2016 to 2017 and from 2017 to 2018.
Property and equipment, 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. Comcast Corp.’s property and equipment, net increased from 2016 to 2017 and from 2017 to 2018.

Asset Age Ratios (Summary)

Comcast Corp., asset age ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Average age ratio 54.46% 57.34% 58.69% 59.74% 60.34%
Estimated total useful life (years) 11 11 11 12 12
Estimated age, time elapsed since purchase (years) 6 6 7 7 7
Estimated remaining life (years) 5 5 5 5 5

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

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. Comcast Corp.’s average age ratio of depreciable property, plant and equipment improved from 2016 to 2017 and from 2017 to 2018.
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. Comcast Corp.’s estimated total useful life of depreciable property, plant and equipment decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Estimated time elapsed since purchase The approximate age in years of a company’s fixed assets. Useful for comparison purposes. Comcast Corp.’s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2016 to 2017 and from 2017 to 2018.
Estimated remaining life Comcast Corp.’s estimated remaining life of depreciable property, plant and equipment increased from 2016 to 2017 and from 2017 to 2018.

Average Age

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Accumulated depreciation 51,306  49,916  49,694  48,100  45,410 
Property and equipment, at cost 95,743  88,386  85,947  81,765  76,363 
Land 1,539  1,332  1,273  1,252  1,112 
Asset Age Ratio
Average age1 54.46% 57.34% 58.69% 59.74% 60.34%

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

2018 Calculations

1 Average age = 100 × Accumulated depreciation ÷ (Property and equipment, at cost – Land)
= 100 × 51,306 ÷ (95,7431,539) = 54.46%

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. Comcast Corp.’s average age ratio of depreciable property, plant and equipment improved from 2016 to 2017 and from 2017 to 2018.

Estimated Total Useful Life

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Property and equipment, at cost 95,743  88,386  85,947  81,765  76,363 
Land 1,539  1,332  1,273  1,252  1,112 
Depreciation expense 8,281  7,914  7,464  6,781  6,337 
Asset Age Ratio (Years)
Estimated total useful life1 11 11 11 12 12

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

2018 Calculations

1 Estimated total useful life = (Property and equipment, at cost – Land) ÷ Depreciation expense
= (95,7431,539) ÷ 8,281 = 11

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. Comcast Corp.’s estimated total useful life of depreciable property, plant and equipment decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Accumulated depreciation 51,306  49,916  49,694  48,100  45,410 
Depreciation expense 8,281  7,914  7,464  6,781  6,337 
Asset Age Ratio (Years)
Time elapsed since purchase1 6 6 7 7 7

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

2018 Calculations

1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 51,306 ÷ 8,281 = 6

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. Comcast Corp.’s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2016 to 2017 and from 2017 to 2018.

Estimated Remaining Life

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Property and equipment, net 44,437  38,470  36,253  33,665  30,953 
Land 1,539  1,332  1,273  1,252  1,112 
Depreciation expense 8,281  7,914  7,464  6,781  6,337 
Asset Age Ratio (Years)
Estimated remaining life1 5 5 5 5 5

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

2018 Calculations

1 Estimated remaining life = (Property and equipment, net – Land) ÷ Depreciation expense
= (44,4371,539) ÷ 8,281 = 5

Asset age ratio Description The company
Estimated remaining life Comcast Corp.’s estimated remaining life of depreciable property, plant and equipment increased from 2016 to 2017 and from 2017 to 2018.