Analysis of Property, Plant and Equipment
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Property, Plant and Equipment Disclosure
Lowe’s Cos. Inc., balance sheet: property, plant and equipment
US$ in millions
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
| Item | Description | The company |
|---|---|---|
| Property, 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. | Lowe’s Cos. Inc. property, cost increased from 2020 to 2021 and from 2021 to 2022. |
| Property, less accumulated depreciation | 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. | Lowe’s Cos. Inc. property, less accumulated depreciation increased from 2020 to 2021 but then slightly decreased from 2021 to 2022. |
Asset Age Ratios (Summary)
Lowe’s Cos. Inc., asset age ratios
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
| 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. | Lowe’s Cos. Inc. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Estimated total useful life | Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. | Lowe’s Cos. Inc. estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022. |
| Estimated time elapsed since purchase | The approximate age in years of a company fixed assets. Useful for comparison purposes. | Lowe’s Cos. Inc. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022. |
| Estimated remaining life | Lowe’s Cos. Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022. |
Average Age
| Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | Feb 3, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Accumulated depreciation | |||||||
| Property, cost | |||||||
| Land | |||||||
| Asset Age Ratio | |||||||
| Average age1 | |||||||
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Property, cost – Land)
= 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 fixed asset base is old or new. Newer assets are likely to be more efficient. | Lowe’s Cos. Inc. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Estimated Total Useful Life
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 Estimated total useful life = (Property, cost – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated total useful life | Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. | Lowe’s Cos. Inc. estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022. |
Estimated Age, Time Elapsed since Purchase
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated time elapsed since purchase | The approximate age in years of a company fixed assets. Useful for comparison purposes. | Lowe’s Cos. Inc. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022. |
Estimated Remaining Life
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 Estimated remaining life = (Property, less accumulated depreciation – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated remaining life | Lowe’s Cos. Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 and from 2021 to 2022. |