Ross Stores Inc., balance sheet: property, plant and equipment

US$ in thousands

	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Land and buildings	1,240,246)	1,187,045)	1,177,262)	1,126,051)	1,109,173)	1,101,334)
Fixtures and equipment	3,425,762)	3,243,206)	3,115,003)	2,783,198)	2,603,318)	2,421,645)
Leasehold improvements	1,332,687)	1,278,134)	1,219,736)	1,175,921)	1,093,634)	998,508)
Construction-in-progress	574,333)	376,076)	189,536)	171,538)	102,054)	69,767)
Property and equipment, gross	6,573,028)	6,084,461)	5,701,537)	5,256,708)	4,908,179)	4,591,254)
Accumulated depreciation and amortization	(3,674,501)	(3,373,965)	(3,048,101)	(2,781,507)	(2,525,715)	(2,263,206)
Property and equipment, net	2,898,527)	2,710,496)	2,653,436)	2,475,201)	2,382,464)	2,328,048)

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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.	Ross Stores Inc. property and equipment, gross increased from 2020 to 2021 and from 2021 to 2022.
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.	Ross Stores Inc. property and equipment, net increased from 2020 to 2021 and from 2021 to 2022.

Ross Stores Inc., asset age ratios

		Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
	Average age ratio	55.90%	55.45%	53.46%	52.91%	51.46%	49.29%

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.	Ross Stores Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 and from 2021 to 2022.

	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization	3,674,501)	3,373,965)	3,048,101)	2,781,507)	2,525,715)	2,263,206)
Property and equipment, gross	6,573,028)	6,084,461)	5,701,537)	5,256,708)	4,908,179)	4,591,254)
Asset Age Ratio
Average age¹	55.90%	55.45%	53.46%	52.91%	51.46%	49.29%

2022 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ Property and equipment, gross
= 100 × 3,674,501 ÷ 6,573,028 = 55.90%

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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.	Ross Stores Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 and from 2021 to 2022.

Ross Stores Inc. (NASDAQ:ROST)

Analysis of Property, Plant and Equipment