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

US$ in millions

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Distribution systems	40,639	38,380	36,046	34,028	32,586
Customer premise equipment	26,065	26,208	26,392	28,621	28,559
Other equipment	13,025	12,437	10,518	9,471	8,539
Buildings and leasehold improvements	15,104	14,188	12,346	10,653	10,829
Construction in process	5,245	2,991	1,752	1,901	—
Land	1,483	1,539	1,332	1,273	1,252
Property and equipment, at cost	101,561	95,743	88,386	85,947	81,765
Accumulated depreciation	(53,239)	(51,306)	(49,916)	(49,694)	(48,100)
Property and equipment, net	48,322	44,437	38,470	36,253	33,665

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 2017 to 2018 and from 2018 to 2019.
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 2017 to 2018 and from 2018 to 2019.

Comcast Corp., asset age ratios

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Average age ratio	53.20%	54.46%	57.34%	58.69%	59.74%
Estimated total useful life (years)	12	11	11	11	12
Estimated age, time elapsed since purchase (years)	6	6	6	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 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.	Comcast Corp.’s estimated total useful life of depreciable property, plant and equipment increased 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.	Comcast Corp.’s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2017 to 2018 and from 2018 to 2019.
Estimated remaining life		Comcast Corp.’s estimated remaining life of depreciable property, plant and equipment increased from 2017 to 2018 and from 2018 to 2019.

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Selected Financial Data (US$ in millions)
Accumulated depreciation	53,239	51,306	49,916	49,694	48,100
Property and equipment, at cost	101,561	95,743	88,386	85,947	81,765
Land	1,483	1,539	1,332	1,273	1,252
Asset Age Ratio
Average age¹	53.20%	54.46%	57.34%	58.69%	59.74%

2019 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property and equipment, at cost – Land)
= 100 × 53,239 ÷ (101,561 – 1,483) = 53.20%

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 2017 to 2018 and from 2018 to 2019.

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Selected Financial Data (US$ in millions)
Property and equipment, at cost	101,561	95,743	88,386	85,947	81,765
Land	1,483	1,539	1,332	1,273	1,252
Depreciation expense	8,663	8,281	7,914	7,464	6,781
Asset Age Ratio (Years)
Estimated total useful life¹	12	11	11	11	12

2019 Calculations

¹ Estimated total useful life = (Property and equipment, at cost – Land) ÷ Depreciation expense
= (101,561 – 1,483) ÷ 8,663 = 12

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 increased from 2017 to 2018 and from 2018 to 2019.

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Selected Financial Data (US$ in millions)
Accumulated depreciation	53,239	51,306	49,916	49,694	48,100
Depreciation expense	8,663	8,281	7,914	7,464	6,781
Asset Age Ratio (Years)
Time elapsed since purchase¹	6	6	6	7	7

2019 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 53,239 ÷ 8,663 = 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 2017 to 2018 and from 2018 to 2019.

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Selected Financial Data (US$ in millions)
Property and equipment, net	48,322	44,437	38,470	36,253	33,665
Land	1,483	1,539	1,332	1,273	1,252
Depreciation expense	8,663	8,281	7,914	7,464	6,781
Asset Age Ratio (Years)
Estimated remaining life¹	5	5	5	5	5

2019 Calculations

¹ Estimated remaining life = (Property and equipment, net – Land) ÷ Depreciation expense
= (48,322 – 1,483) ÷ 8,663 = 5

Asset age ratio	Description	The company
Estimated remaining life		Comcast Corp.’s estimated remaining life of depreciable property, plant and equipment increased from 2017 to 2018 and from 2018 to 2019.

Comcast Corp. (NASDAQ:CMCSA)

Analysis of Property, Plant and Equipment