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Microsoft Excel LibreOffice Calc

ConocoPhillips (COP)


Analysis of Property, Plant and Equipment

Difficulty: Advanced


Property, Plant and Equipment Accounting Policy

Depreciation and amortization of PP&E on producing hydrocarbon properties and certain pipeline and LNG assets (those which are expected to have a declining utilization pattern), are determined by the unit-of-productionmethod. Depreciation and amortization of all other PP&E are determined by either the individual-unit-straight-line method or the group-straight-line method (for those individual units that are highly integrated with other units).

Source: 10-K (filing date: 2019-02-19).


Property, Plant and Equipment Disclosure

ConocoPhillips, Statement of Financial Position, Property, Plant and Equipment

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Proved properties hidden hidden hidden hidden hidden
Unproved properties hidden hidden hidden hidden hidden
Other hidden hidden hidden hidden hidden
Gross properties, plants and equipment hidden hidden hidden hidden hidden
Accumulated depreciation, depletion and amortization hidden hidden hidden hidden hidden
Net properties, plants and equipment hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-23), 10-K (filing date: 2015-02-24).

Item Description The company
Gross properties, plants and equipment 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. ConocoPhillips’s gross properties, plants and equipment declined from 2016 to 2017 but then slightly increased from 2017 to 2018.
Net properties, plants 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. ConocoPhillips’s net properties, plants and equipment declined from 2016 to 2017 but then slightly increased from 2017 to 2018.

Property, Plant and Equipment Ratios (Summary)

ConocoPhillips, Property, Plant and Equipment Ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Average age hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-23), 10-K (filing date: 2015-02-24).

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. ConocoPhillips’s average age of depreciable property, plant and equipment deteriorated from 2016 to 2017 and 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 (USD $ in millions)
Accumulated depreciation, depletion and amortization hidden hidden hidden hidden hidden
Gross properties, plants and equipment hidden hidden hidden hidden hidden
Ratio
Average age1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-23), 10-K (filing date: 2015-02-24).

2018 Calculations

1 Average age = 100 × Accumulated depreciation, depletion and amortization ÷ Gross properties, plants and equipment
= 100 × hidden ÷ hidden = hidden

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