Property and equipment is stated at the lower of cost or realizable value, net of accumulated depreciation. Intuit calculates depreciation using the straight-line method over the estimated useful lives of the assets, which range from two to 30 years. Intuit amortizes leasehold improvements using the straight-line method over the lesser of their estimated useful lives or remaining lease terms. Intuit includes the amortization of assets that are recorded under capital leases in depreciation expense. Intuit reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Intuit did not record any significant property impairment charges during the twelve months ended July 31, 2019, 2018, or 2017.

Source: 10-K (filing date: 2019-08-30).

Intuit Inc., Statement of Financial Position, Property, Plant and Equipment

US$ in millions

		Jul 31, 2019		Jul 31, 2018		Jul 31, 2017		Jul 31, 2016		Jul 31, 2015		Jul 31, 2014
	Equipment
	Computer software
	Furniture and fixtures
	Leasehold improvements
	Land
	Buildings
	Capital in progress
	Property and equipment, cost
	Accumulated depreciation and amortization
	Property and equipment, net

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

Item	Description	The company
Property and equipment, 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.	Intuit Inc.’s property and equipment, cost declined 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.	Intuit Inc.’s property and equipment, net declined from 2017 to 2018 and from 2018 to 2019.

Intuit Inc., Property, Plant and Equipment Ratios

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Average age
	Estimated total useful life (years)
	Estimated age, time elapsed since purchase (years)
	Estimated remaining life (years)

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

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.	Intuit Inc.’s average age of depreciable property, plant and equipment deteriorated 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.	Intuit Inc.’s estimated total useful life of depreciable property, plant and equipment declined from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.
Estimated time elapsed since purchase	The approximate age in years of a company’s fixed assets. Useful for comparison purposes.	Intuit Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Estimated remaining life		Intuit Inc.’s estimated remaining life of depreciable property, plant and equipment declined from 2017 to 2018 but then slightly increased from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Selected Financial Data (US$ in millions)
	Accumulated depreciation and amortization
	Property and equipment, cost
	Land
	Ratio
	Average age¹

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

2019 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property and equipment, cost – Land)
= 100 × hidden ÷ ( hidden – hidden ) = hidden

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.	Intuit Inc.’s average age of depreciable property, plant and equipment deteriorated from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Selected Financial Data (US$ in millions)
	Property and equipment, cost
	Land
	Depreciation expense
	Ratio
	Estimated total useful life (years)¹

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

2019 Calculations

¹ Estimated total useful life (years) = (Property and equipment, cost – Land) ÷ Depreciation expense
= ( hidden – hidden ) ÷ hidden = hidden

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.	Intuit Inc.’s estimated total useful life of depreciable property, plant and equipment declined from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Selected Financial Data (US$ in millions)
	Accumulated depreciation and amortization
	Depreciation expense
	Ratio
	Time elapsed since purchase (years)¹

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

2019 Calculations

¹ Time elapsed since purchase (years) = Accumulated depreciation and amortization ÷ Depreciation expense
= hidden ÷ hidden = hidden

Ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company’s fixed assets. Useful for comparison purposes.	Intuit Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Selected Financial Data (US$ in millions)
	Property and equipment, net
	Land
	Depreciation expense
	Ratio
	Estimated remaining life (years)¹

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

2019 Calculations

¹ Estimated remaining life (years) = (Property and equipment, net – Land) ÷ Depreciation expense
= ( hidden – hidden ) ÷ hidden = hidden

Ratio	Description	The company
Estimated remaining life		Intuit Inc.’s estimated remaining life of depreciable property, plant and equipment declined from 2017 to 2018 but then slightly increased from 2018 to 2019.

	Intuit Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
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Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

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Financial Statements
Common-Size Financial Statements
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Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
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Intuit Inc. (INTU)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Accounting Policy

Property, Plant and Equipment Disclosure

Property, Plant and Equipment Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life