Stock Analysis on Net

Lowe’s Cos. Inc. (NYSE:LOW)

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Analysis of Property, Plant and Equipment

Microsoft Excel

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Property, Plant and Equipment Disclosure

Lowe’s Cos. Inc., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019 Feb 2, 2018 Feb 3, 2017
Land
Buildings and building improvements
Equipment
Construction in progress
Property, cost
Accumulated depreciation
Property, less accumulated depreciation

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

Microsoft Excel
Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019 Feb 2, 2018 Feb 3, 2017
Average age ratio
Estimated total useful life (years)
Estimated age, time elapsed since purchase (years)
Estimated remaining life (years)

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

Microsoft Excel
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

Microsoft Excel
Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019 Feb 2, 2018 Feb 3, 2017
Selected Financial Data (US$ in millions)
Property, cost
Land
Depreciation expense
Asset Age Ratio (Years)
Estimated total useful life1

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

Microsoft Excel
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
Depreciation expense
Asset Age Ratio (Years)
Time elapsed since purchase1

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

Microsoft Excel
Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019 Feb 2, 2018 Feb 3, 2017
Selected Financial Data (US$ in millions)
Property, less accumulated depreciation
Land
Depreciation expense
Asset Age Ratio (Years)
Estimated remaining life1

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.