Stock Analysis on Net

Air Products & Chemicals Inc. (NYSE:APD)

This company has been moved to the archive! The financial data has not been updated since August 9, 2021.

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Air Products & Chemicals Inc., balance sheet: property, plant and equipment

US$ in thousands

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Land 296,800 281,500 269,400 231,000 232,900 226,200
Buildings 997,800 946,800 988,600 977,800 1,119,800 1,080,200
Production facilities 17,289,700 15,602,100 15,082,800 13,577,100 13,267,300 12,819,500
Distribution and other machinery and equipment 4,807,700 4,491,900 4,400,900 3,944,000 4,042,100 3,963,100
Construction in progress 1,784,200 1,011,400 748,500 817,900 1,528,000 2,265,600
Plant and equipment, at cost 25,176,200 22,333,700 21,490,200 19,547,800 20,190,100 20,354,600
Accumulated depreciation (13,211,500) (11,996,100) (11,566,500) (11,107,600) (11,337,400) (10,717,700)
Plant and equipment, net 11,964,700 10,337,600 9,923,700 8,440,200 8,852,700 9,636,900

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

Item Description The company
Plant 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. Air Products & Chemicals Inc. plant and equipment, at cost increased from 2018 to 2019 and from 2019 to 2020.
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. Air Products & Chemicals Inc. plant and equipment, net increased from 2018 to 2019 and from 2019 to 2020.

Asset Age Ratios (Summary)

Air Products & Chemicals Inc., asset age ratios

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Average age ratio 53.10% 54.40% 54.51% 57.50% 56.81% 53.25%
Estimated total useful life (years) 22 21 23 23 22 22
Estimated age, time elapsed since purchase (years) 11 11 12 13 13 12
Estimated remaining life (years) 10 10 10 10 10 10

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

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. Air Products & Chemicals Inc. average age ratio of depreciable property, plant and equipment improved 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. Air Products & Chemicals 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. Air Products & Chemicals Inc. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.
Estimated remaining life Air Products & Chemicals Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2018 to 2019 but then increased from 2019 to 2020 not reaching 2018 level.

Average Age

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Selected Financial Data (US$ in thousands)
Accumulated depreciation 13,211,500 11,996,100 11,566,500 11,107,600 11,337,400 10,717,700
Plant and equipment, at cost 25,176,200 22,333,700 21,490,200 19,547,800 20,190,100 20,354,600
Land 296,800 281,500 269,400 231,000 232,900 226,200
Asset Age Ratio
Average age1 53.10% 54.40% 54.51% 57.50% 56.81% 53.25%

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

2020 Calculations

1 Average age = 100 × Accumulated depreciation ÷ (Plant and equipment, at cost – Land)
= 100 × 13,211,500 ÷ (25,176,200296,800) = 53.10%

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. Air Products & Chemicals Inc. average age ratio of depreciable property, plant and equipment improved from 2018 to 2019 and from 2019 to 2020.

Estimated Total Useful Life

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Selected Financial Data (US$ in thousands)
Plant and equipment, at cost 25,176,200 22,333,700 21,490,200 19,547,800 20,190,100 20,354,600
Land 296,800 281,500 269,400 231,000 232,900 226,200
Depreciation expense 1,150,500 1,049,700 940,700 843,200 893,000 900,400
Asset Age Ratio (Years)
Estimated total useful life1 22 21 23 23 22 22

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

2020 Calculations

1 Estimated total useful life = (Plant and equipment, at cost – Land) ÷ Depreciation expense
= (25,176,200296,800) ÷ 1,150,500 = 22

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. Air Products & Chemicals 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
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Selected Financial Data (US$ in thousands)
Accumulated depreciation 13,211,500 11,996,100 11,566,500 11,107,600 11,337,400 10,717,700
Depreciation expense 1,150,500 1,049,700 940,700 843,200 893,000 900,400
Asset Age Ratio (Years)
Time elapsed since purchase1 11 11 12 13 13 12

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

2020 Calculations

1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 13,211,500 ÷ 1,150,500 = 11

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. Air Products & Chemicals Inc. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

Estimated Remaining Life

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Selected Financial Data (US$ in thousands)
Plant and equipment, net 11,964,700 10,337,600 9,923,700 8,440,200 8,852,700 9,636,900
Land 296,800 281,500 269,400 231,000 232,900 226,200
Depreciation expense 1,150,500 1,049,700 940,700 843,200 893,000 900,400
Asset Age Ratio (Years)
Estimated remaining life1 10 10 10 10 10 10

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

2020 Calculations

1 Estimated remaining life = (Plant and equipment, net – Land) ÷ Depreciation expense
= (11,964,700296,800) ÷ 1,150,500 = 10

Asset age ratio Description The company
Estimated remaining life Air Products & Chemicals Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2018 to 2019 but then increased from 2019 to 2020 not reaching 2018 level.