Stock Analysis on Net
Stock Analysis on Net

Illumina Inc. (NASDAQ:ILMN)

This company has been moved to the archive! The financial data has not been updated since November 5, 2021.

Analysis of Property, Plant and Equipment

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Property, Plant and Equipment Disclosure

Illumina Inc., balance sheet: property, plant and equipment

US$ in millions

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Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016
Leasehold improvements 645 622 567 331 270
Machinery and equipment 461 401 382 316 274
Computer hardware and software 305 272 217 185 156
Furniture and fixtures 46 45 45 34 24
Buildings 44 44 285 155 9
Construction in progress 99 73 100 326 307
Property and equipment, gross 1,600 1,457 1,596 1,347 1,040
Accumulated depreciation (678) (568) (521) (416) (327)
Property and equipment, net 922 889 1,075 931 713

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

Item Description The company
Property and equipment, gross 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. Illumina Inc. property and equipment, gross decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
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. Illumina Inc. property and equipment, net decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.

Asset Age Ratios (Summary)

Illumina Inc., asset age ratios

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Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016
Average age ratio 42.38% 38.98% 32.64% 30.88% 31.42%
Estimated total useful life (years) 10 10 11 12 12
Estimated age, time elapsed since purchase (years) 4 4 4 4 4
Estimated remaining life (years) 6 6 8 8 8

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

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 fixed asset base is old or new. Newer assets are likely to be more efficient. Illumina Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2018 to 2019 and from 2019 to 2020.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Illumina Inc. estimated total useful life of depreciable property, plant and equipment decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Illumina Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2018 to 2019 and from 2019 to 2020.
Estimated remaining life Illumina Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.

Average Age

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Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Accumulated depreciation 678 568 521 416 327
Property and equipment, gross 1,600 1,457 1,596 1,347 1,040
Asset Age Ratio
Average age1 42.38% 38.98% 32.64% 30.88% 31.42%

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

2020 Calculations

1 Average age = 100 × Accumulated depreciation ÷ Property and equipment, gross
= 100 × 678 ÷ 1,600 = 42.38%

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 fixed asset base is old or new. Newer assets are likely to be more efficient. Illumina Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2018 to 2019 and from 2019 to 2020.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Property and equipment, gross 1,600 1,457 1,596 1,347 1,040
Depreciation expense 156 151 140 110 90
Asset Age Ratio (Years)
Estimated total useful life1 10 10 11 12 12

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

2020 Calculations

1 Estimated total useful life = Property and equipment, gross ÷ Depreciation expense
= 1,600 ÷ 156 = 10

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Illumina Inc. estimated total useful life of depreciable property, plant and equipment decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Accumulated depreciation 678 568 521 416 327
Depreciation expense 156 151 140 110 90
Asset Age Ratio (Years)
Time elapsed since purchase1 4 4 4 4 4

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

2020 Calculations

1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 678 ÷ 156 = 4

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Illumina Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2018 to 2019 and from 2019 to 2020.

Estimated Remaining Life

Microsoft Excel
Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Property and equipment, net 922 889 1,075 931 713
Depreciation expense 156 151 140 110 90
Asset Age Ratio (Years)
Estimated remaining life1 6 6 8 8 8

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

2020 Calculations

1 Estimated remaining life = Property and equipment, net ÷ Depreciation expense
= 922 ÷ 156 = 6

Asset age ratio Description The company
Estimated remaining life Illumina Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.