Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age

AutoZone Inc., balance sheet: property, plant and equipment

US$ in thousands

	Aug 26, 2023	Aug 27, 2022	Aug 28, 2021	Aug 29, 2020	Aug 31, 2019	Aug 25, 2018
Land	1,367,391)	1,299,981)	1,261,509)	1,205,228)	1,147,709)	1,107,092)
Buildings and improvements	4,860,216)	4,486,676)	4,277,593)	4,020,271)	3,895,559)	3,698,010)
Equipment	2,972,879)	2,650,831)	2,407,046)	2,158,251)	1,991,042)	1,841,330)
Leasehold improvements	831,508)	724,095)	644,345)	586,839)	552,018)	504,656)
Construction in progress	305,896)	291,588)	216,685)	165,953)	126,868)	140,535)
Property and equipment, gross	10,337,890)	9,453,171)	8,807,178)	8,136,542)	7,713,196)	7,291,623)
Accumulated depreciation and amortization	(4,741,342)	(4,282,752)	(3,950,287)	(3,627,321)	(3,314,445)	(3,073,223)
Property and equipment, less accumulated depreciation and amortization	5,596,548)	5,170,419)	4,856,891)	4,509,221)	4,398,751)	4,218,400)

Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).

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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.	AutoZone Inc. property and equipment, gross increased from 2021 to 2022 and from 2022 to 2023.
Property and equipment, less accumulated depreciation and amortization	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.	AutoZone Inc. property and equipment, less accumulated depreciation and amortization increased from 2021 to 2022 and from 2022 to 2023.

AutoZone Inc., asset age ratios

		Aug 26, 2023	Aug 27, 2022	Aug 28, 2021	Aug 29, 2020	Aug 31, 2019	Aug 25, 2018
	Average age ratio	52.85%	52.53%	52.35%	52.33%	50.48%	49.69%

Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).

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.	AutoZone Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Aug 26, 2023	Aug 27, 2022	Aug 28, 2021	Aug 29, 2020	Aug 31, 2019	Aug 25, 2018
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization	4,741,342)	4,282,752)	3,950,287)	3,627,321)	3,314,445)	3,073,223)
Property and equipment, gross	10,337,890)	9,453,171)	8,807,178)	8,136,542)	7,713,196)	7,291,623)
Land	1,367,391)	1,299,981)	1,261,509)	1,205,228)	1,147,709)	1,107,092)
Asset Age Ratio
Average age¹	52.85%	52.53%	52.35%	52.33%	50.48%	49.69%

Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property and equipment, gross – Land)
= 100 × 4,741,342 ÷ (10,337,890 – 1,367,391) = 52.85%

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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.	AutoZone Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

AutoZone Inc. (NYSE:AZO)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age