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

US$ in millions

	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

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.

Comcast Corp., asset age ratios

	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

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.

	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%

2018 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property and equipment, at cost – Land)
= 100 × 51,306 ÷ (95,743 – 1,539) = 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.

	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

2018 Calculations

¹ Estimated total useful life = (Property and equipment, at cost – Land) ÷ Depreciation expense
= (95,743 – 1,539) ÷ 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.

	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

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.

	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

2018 Calculations

¹ Estimated remaining life = (Property and equipment, net – Land) ÷ Depreciation expense
= (44,437 – 1,539) ÷ 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.

Comcast Corp. (CMCSA)

Analysis of Property, Plant and Equipment