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Analysis of Property, Plant and Equipment
Property, Plant and Equipment Disclosure
ConocoPhillips, balance sheet: property, plant and equipment
US$ in millions
Based on: 10-K (filing date: 2020-02-18), 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).
| 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 increased from 2017 to 2018 but then decreased significantly from 2018 to 2019. |
| 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 increased from 2017 to 2018 but then decreased significantly from 2018 to 2019. |
Asset Age Ratios (Summary)
ConocoPhillips, asset age ratios
Based on: 10-K (filing date: 2020-02-18), 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).
| 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. | ConocoPhillips’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |
Average Age
Based on: 10-K (filing date: 2020-02-18), 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).
2019 Calculations
1 Average age = 100 × Accumulated depreciation, depletion and amortization ÷ Gross properties, plants and equipment
= 100 × ÷ =
| 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. | ConocoPhillips’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |