Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age
Estimated Total Useful Life
Estimated Age, Time Elapsed Since Purchase
Estimated Remaining Life

Abbott Laboratories, balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land	529)	511)	525)	538)	519)
Buildings	4,161)	4,053)	4,007)	4,014)	3,702)
Equipment	15,179)	14,164)	13,528)	12,884)	11,468)
Construction in progress	2,064)	1,484)	1,304)	1,357)	1,110)
Property and equipment, at cost	21,933)	20,212)	19,364)	18,793)	16,799)
Accumulated depreciation and amortization	(11,779)	(11,050)	(10,405)	(9,764)	(8,761)
Net property and equipment	10,154)	9,162)	8,959)	9,029)	8,038)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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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.	Abbott Laboratories property and equipment, at cost increased from 2021 to 2022 and from 2022 to 2023.
Net property and equipment	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.	Abbott Laboratories net property and equipment increased from 2021 to 2022 and from 2022 to 2023.

Abbott Laboratories, asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	55.03%	56.09%	55.23%	53.49%	53.81%
Estimated total useful life (years)	17	16	13	15	15
Estimated age, time elapsed since purchase (years)	9	9	7	8	8
Estimated remaining life (years)	8	7	6	7	7

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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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.	Abbott Laboratories average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
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.	Abbott Laboratories estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Abbott Laboratories estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		Abbott Laboratories estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	11,779)	11,050)	10,405)	9,764)	8,761)
Property and equipment, at cost	21,933)	20,212)	19,364)	18,793)	16,799)
Land	529)	511)	525)	538)	519)
Asset Age Ratio
Average age¹	55.03%	56.09%	55.23%	53.49%	53.81%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property and equipment, at cost – Land)
= 100 × 11,779 ÷ (21,933 – 529) = 55.03%

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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.	Abbott Laboratories average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property and equipment, at cost	21,933)	20,212)	19,364)	18,793)	16,799)
Land	529)	511)	525)	538)	519)
Depreciation expense	1,277)	1,254)	1,491)	1,195)	1,078)
Asset Age Ratio (Years)
Estimated total useful life¹	17	16	13	15	15

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated total useful life = (Property and equipment, at cost – Land) ÷ Depreciation expense
= (21,933 – 529) ÷ 1,277 = 17

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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.	Abbott Laboratories estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	11,779)	11,050)	10,405)	9,764)	8,761)
Depreciation expense	1,277)	1,254)	1,491)	1,195)	1,078)
Asset Age Ratio (Years)
Time elapsed since purchase¹	9	9	7	8	8

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation expense
= 11,779 ÷ 1,277 = 9

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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.	Abbott Laboratories estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Net property and equipment	10,154)	9,162)	8,959)	9,029)	8,038)
Land	529)	511)	525)	538)	519)
Depreciation expense	1,277)	1,254)	1,491)	1,195)	1,078)
Asset Age Ratio (Years)
Estimated remaining life¹	8	7	6	7	7

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated remaining life = (Net property and equipment – Land) ÷ Depreciation expense
= (10,154 – 529) ÷ 1,277 = 8

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Asset age ratio	Description	The company
Estimated remaining life		Abbott Laboratories estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

Abbott Laboratories (NYSE:ABT)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life