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Microsoft Excel LibreOffice Calc

Allergan PLC (AGN)


Analysis of Property, Plant and Equipment

Advanced level


Accounting Policy on Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. Major renewals and improvements are capitalized if they add functionality or extend the life of the asset, while routine maintenance and repairs are expensed as incurred. Allergan capitalizes interest on qualified construction projects. At the time property, plant and equipment are retired from service, the cost and accumulated depreciation are removed from the respective accounts.

Depreciation expense is computed principally on the straight-line method, over the estimated useful lives of the related assets. The following table provides the range of estimated useful lives used for each asset type:

Computer software/hardware (including internally developed) 3-10 years
Machinery and equipment 3-15 years
Research and laboratory equipment 3-10 years
Furniture and fixtures 3-10 years
Buildings, improvements, leasehold improvements and other 4-50 years
Transportation equipment 3-20 years

Allergan assesses property, plant and equipment for impairment whenever events or changes in circumstances indicate that an asset’s carrying amount may not be recoverable.

Source: 10-K (filing date: 2019-02-15).


Property, Plant and Equipment Disclosure

Allergan PLC, balance sheet: property, plant and equipment

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Machinery and equipment hidden hidden hidden hidden hidden
Research and laboratory equipment hidden hidden hidden hidden hidden
Transportation/Other hidden hidden hidden hidden hidden
Land, buildings and leasehold improvements hidden hidden hidden hidden hidden
Construction in progress hidden hidden hidden hidden hidden
Property, plant and equipment, cost hidden hidden hidden hidden hidden
Accumulated depreciation hidden hidden hidden hidden hidden
Property, plant and equipment, net hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-18).

Item Description The company
Property, plant 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. Allergan PLC’s property, plant and equipment, cost 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. Allergan PLC’s property, plant and equipment, net increased from 2016 to 2017 and from 2017 to 2018.

Asset Age Ratios (Summary)

Allergan PLC, asset age ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Average age ratio hidden hidden hidden hidden hidden
Estimated total useful life (years) hidden hidden hidden hidden hidden
Estimated age, time elapsed since purchase (years) hidden hidden hidden hidden hidden
Estimated remaining life (years) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-18).

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. Allergan PLC’s average age ratio of depreciable property, plant and equipment deteriorated 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. Allergan PLC’s estimated total useful life of depreciable property, plant and equipment increased from 2016 to 2017 but then slightly decreased from 2017 to 2018 not reaching 2016 level.
Estimated time elapsed since purchase The approximate age in years of a company’s fixed assets. Useful for comparison purposes. Allergan PLC’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2016 to 2017 and from 2017 to 2018.
Estimated remaining life Allergan PLC’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
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in thousands)
Accumulated depreciation hidden hidden hidden hidden hidden
Property, plant and equipment, cost hidden hidden hidden hidden hidden
Asset Age Ratio
Average age1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-18).

2018 Calculations

1 Average age = 100 × Accumulated depreciation ÷ Property, plant and equipment, cost
= 100 × hidden ÷ hidden = hidden

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. Allergan PLC’s average age ratio of depreciable property, plant and equipment deteriorated from 2016 to 2017 and from 2017 to 2018.

Estimated Total Useful Life

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in thousands)
Property, plant and equipment, cost hidden hidden hidden hidden hidden
Depreciation expense hidden hidden hidden hidden hidden
Asset Age Ratio (Years)
Estimated total useful life1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-18).

2018 Calculations

1 Estimated total useful life = Property, plant and equipment, cost ÷ Depreciation expense
= hidden ÷ hidden = hidden

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. Allergan PLC’s estimated total useful life of depreciable property, plant and equipment increased from 2016 to 2017 but then slightly decreased from 2017 to 2018 not reaching 2016 level.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in thousands)
Accumulated depreciation hidden hidden hidden hidden hidden
Depreciation expense hidden hidden hidden hidden hidden
Asset Age Ratio (Years)
Time elapsed since purchase1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-18).

2018 Calculations

1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= hidden ÷ hidden = hidden

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. Allergan PLC’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2016 to 2017 and from 2017 to 2018.

Estimated Remaining Life

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in thousands)
Property, plant and equipment, net hidden hidden hidden hidden hidden
Depreciation expense hidden hidden hidden hidden hidden
Asset Age Ratio (Years)
Estimated remaining life1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-18).

2018 Calculations

1 Estimated remaining life = Property, plant and equipment, net ÷ Depreciation expense
= hidden ÷ hidden = hidden

Asset age ratio Description The company
Estimated remaining life Allergan PLC’s estimated remaining life of depreciable property, plant and equipment increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.