Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Twenty-First Century Fox Inc. (NASDAQ:FOX)

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Analysis of Property, Plant and Equipment

Advanced level


Accounting Policy on Property, Plant and Equipment

Property, plant and equipment are stated at cost. Depreciation is provided using the straight-line method over an estimated useful life of three to 40 years. Leasehold improvements are amortized using the straight-line method over the shorter of their useful lives or the life of the lease. Costs associated with the repair and maintenance of property are expensed as incurred. Changes in circumstances, such as technological advances, or changes to Twenty-First Century Fox’s business model or capital strategy, could result in the actual useful lives differing from Twenty-First Century Fox’s estimates. In those cases where Twenty-First Century Fox determines that the estimated useful life of property, plant and equipment should be shortened, Twenty-First Century Fox would depreciate the asset over its revised remaining useful life, thereby increasing depreciation expense.

Source: 10-K (filing date: 2018-08-13).


Property, Plant and Equipment Disclosure

Twenty-First Century Fox Inc., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Land
Buildings and leaseholds
Machinery and equipment
Construction in progress
Property, plant and equipment, gross
Accumulated depreciation and amortization
Property, plant and equipment, net

Based on: 10-K (filing date: 2018-08-13), 10-K (filing date: 2017-08-14), 10-K (filing date: 2016-08-11), 10-K (filing date: 2015-08-13), 10-K (filing date: 2014-08-14), 10-K (filing date: 2013-08-19).

Item Description The company
Property, plant 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. Twenty-First Century Fox Inc.’s property, plant and equipment, gross increased from 2016 to 2017 and from 2017 to 2018.
Property, plant 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. Twenty-First Century Fox Inc.’s property, plant and equipment, net increased from 2016 to 2017 and from 2017 to 2018.

Asset Age Ratios (Summary)

Twenty-First Century Fox Inc., asset age ratios

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Average age ratio
Estimated total useful life (years)
Estimated age, time elapsed since purchase (years)
Estimated remaining life (years)

Based on: 10-K (filing date: 2018-08-13), 10-K (filing date: 2017-08-14), 10-K (filing date: 2016-08-11), 10-K (filing date: 2015-08-13), 10-K (filing date: 2014-08-14), 10-K (filing date: 2013-08-19).

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. Twenty-First Century Fox Inc.’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. Twenty-First Century Fox Inc.’s estimated total useful life of depreciable property, plant and equipment decreased from 2016 to 2017 and from 2017 to 2018.
Estimated time elapsed since purchase The approximate age in years of a company’s fixed assets. Useful for comparison purposes. Twenty-First Century Fox Inc.’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 Twenty-First Century Fox Inc.’s estimated remaining life of depreciable property, plant and equipment increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.

Average Age

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization
Property, plant and equipment, gross
Land
Asset Age Ratio
Average age1

Based on: 10-K (filing date: 2018-08-13), 10-K (filing date: 2017-08-14), 10-K (filing date: 2016-08-11), 10-K (filing date: 2015-08-13), 10-K (filing date: 2014-08-14), 10-K (filing date: 2013-08-19).

2018 Calculations

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

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. Twenty-First Century Fox Inc.’s average age ratio of depreciable property, plant and equipment improved from 2016 to 2017 and from 2017 to 2018.

Estimated Total Useful Life

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Selected Financial Data (US$ in millions)
Property, plant and equipment, gross
Land
Depreciation and amortization related to Property, plant and equipment
Asset Age Ratio (Years)
Estimated total useful life1

Based on: 10-K (filing date: 2018-08-13), 10-K (filing date: 2017-08-14), 10-K (filing date: 2016-08-11), 10-K (filing date: 2015-08-13), 10-K (filing date: 2014-08-14), 10-K (filing date: 2013-08-19).

2018 Calculations

1 Estimated total useful life = (Property, plant and equipment, gross – Land) ÷ Depreciation and amortization related to Property, plant and equipment
= () ÷ =

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. Twenty-First Century Fox Inc.’s estimated total useful life of depreciable property, plant and equipment decreased from 2016 to 2017 and from 2017 to 2018.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization
Depreciation and amortization related to Property, plant and equipment
Asset Age Ratio (Years)
Time elapsed since purchase1

Based on: 10-K (filing date: 2018-08-13), 10-K (filing date: 2017-08-14), 10-K (filing date: 2016-08-11), 10-K (filing date: 2015-08-13), 10-K (filing date: 2014-08-14), 10-K (filing date: 2013-08-19).

2018 Calculations

1 Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation and amortization related to Property, plant and equipment
= ÷ =

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. Twenty-First Century Fox Inc.’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

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Selected Financial Data (US$ in millions)
Property, plant and equipment, net
Land
Depreciation and amortization related to Property, plant and equipment
Asset Age Ratio (Years)
Estimated remaining life1

Based on: 10-K (filing date: 2018-08-13), 10-K (filing date: 2017-08-14), 10-K (filing date: 2016-08-11), 10-K (filing date: 2015-08-13), 10-K (filing date: 2014-08-14), 10-K (filing date: 2013-08-19).

2018 Calculations

1 Estimated remaining life = (Property, plant and equipment, net – Land) ÷ Depreciation and amortization related to Property, plant and equipment
= () ÷ =

Asset age ratio Description The company
Estimated remaining life Twenty-First Century Fox Inc.’s estimated remaining life of depreciable property, plant and equipment increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.