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Property, Plant and Equipment Accounting Policy

Land, buildings and equipment, including property under capital lease agreements, are carried at cost less accumulated depreciation. Depreciation is based on the estimated service lives of depreciable assets and is calculated primarily using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related accumulated depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income.

Source: DowDuPont Inc., Annual Report

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Property, Plant and Equipment Disclosure

DowDuPont Inc., Statement of Financial Position, Property, Plant and Equipment

USD $ in millions

 

Source: Based on data from DowDuPont Inc. Annual Reports

Item Description The company
Land and land improvements Real estate assets held for productive use and depreciable assets that are an addition or improvement to real estate held for productive use. DowDuPont Inc.'s land and land improvements increased from 2015 to 2016 and from 2016 to 2017.
Buildings Carrying amount as of the balance sheet date of long-lived, depreciable assets that include building structures held for productive use including any addition, improvement, or renovation to the structure, such as interior masonry, interior flooring, electrical, and plumbing. DowDuPont Inc.'s buildings increased from 2015 to 2016 and from 2016 to 2017.
Machinery and equipment Carrying amount as of the balance sheet date of long-lived, depreciable asset used in production process to produce goods and services. DowDuPont Inc.'s machinery and equipment increased from 2015 to 2016 and from 2016 to 2017.
Construction in progress Carrying amount at the balance sheet date of long-lived asset under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. DowDuPont Inc.'s construction in progress increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.
Property, gross Carrying amount at the balance sheet date for long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, physical structures, machinery, vehicles, furniture, computer equipment, construction in progress, and similar items. Amount does not include depreciation. DowDuPont Inc.'s property, gross increased from 2015 to 2016 and from 2016 to 2017.
Net property Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. DowDuPont Inc.'s net property increased from 2015 to 2016 and from 2016 to 2017.

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Property, Plant and Equipment Ratios (Summary)

DowDuPont Inc., Property, Plant and Equipment Ratios

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Average age % % % % %
Estimated total useful life (years)
Estimated age, time elapsed since purchase (years)
Estimated remaining life (years)
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. DowDuPont Inc.'s average age of depreciable property, plant and equipment improved from 2015 to 2016 and from 2016 to 2017.
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. DowDuPont Inc.'s estimated total useful life of depreciable property, plant and equipment increased from 2015 to 2016 but then declined significantly from 2016 to 2017.
Estimated time elapsed since purchase The approximate age in years of a company's fixed assets. Useful for comparison purposes. DowDuPont Inc.'s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2015 to 2016 and from 2016 to 2017.
Estimated remaining life DowDuPont Inc.'s estimated remaining life of depreciable property, plant and equipment increased from 2015 to 2016 and from 2016 to 2017.

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Average Age

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Accumulated depreciation
Property, gross
Land and land improvements
Ratio
Average age1 % % % % %

2017 Calculations

1 Average age = 100 × Accumulated depreciation ÷ (Property, gross – Land and land improvements)
= 100 × ÷ () = %

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. DowDuPont Inc.'s average age of depreciable property, plant and equipment improved from 2015 to 2016 and from 2016 to 2017.

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Estimated Total Useful Life

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Property, gross
Land and land improvements
Depreciation expense
Ratio
Estimated total useful life (years)1

2017 Calculations

1 Estimated total useful life (years) = (Property, gross – Land and land improvements) ÷ Depreciation expense
= () ÷ =

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. DowDuPont Inc.'s estimated total useful life of depreciable property, plant and equipment increased from 2015 to 2016 but then declined significantly from 2016 to 2017.

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Estimated Age, Time Elapsed Since Purchase

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Accumulated depreciation
Depreciation expense
Ratio
Time elapsed since purchase (years)1

2017 Calculations

1 Time elapsed since purchase (years) = Accumulated depreciation ÷ Depreciation expense
= ÷ =

Ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company's fixed assets. Useful for comparison purposes. DowDuPont Inc.'s estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2015 to 2016 and from 2016 to 2017.

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Estimated Remaining Life

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Net property
Land and land improvements
Depreciation expense
Ratio
Estimated remaining life (years)1

2017 Calculations

1 Estimated remaining life (years) = (Net property – Land and land improvements) ÷ Depreciation expense
= () ÷ =

Ratio Description The company
Estimated remaining life DowDuPont Inc.'s estimated remaining life of depreciable property, plant and equipment increased from 2015 to 2016 and from 2016 to 2017.

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