Newmont Corp., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land	347)	281)	260)	195)	193)
Facilities and equipment	25,804)	19,044)	18,829)	18,410)	17,676)
Mine development	7,223)	6,413)	5,419)	4,429)	3,427)
Mineral interests	19,450)	13,276)	13,296)	12,673)	13,581)
Construction-in-progress	4,799)	3,211)	2,309)	2,474)	2,089)
Property, plant and mine development, cost	57,623)	42,225)	40,113)	38,181)	36,966)
Accumulated depreciation	(20,060)	(18,152)	(15,989)	(13,900)	(11,690)
Property, plant and mine development, net book value	37,563)	24,073)	24,124)	24,281)	25,276)

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Item	Description	The company
Property, plant and mine development, 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.	Newmont Corp. property, plant and mine development, cost increased from 2021 to 2022 and from 2022 to 2023.
Property, plant and mine development, net book value	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.	Newmont Corp. property, plant and mine development, net book value decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Newmont Corp., asset age ratios

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	Average age ratio	35.02%	43.28%	40.12%	36.59%	31.79%

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.	Newmont Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	20,060)	18,152)	15,989)	13,900)	11,690)
Property, plant and mine development, cost	57,623)	42,225)	40,113)	38,181)	36,966)
Land	347)	281)	260)	195)	193)
Asset Age Ratio
Average age¹	35.02%	43.28%	40.12%	36.59%	31.79%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property, plant and mine development, cost – Land)
= 100 × 20,060 ÷ (57,623 – 347) = 35.02%

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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.	Newmont Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Newmont Corp. (NYSE:NEM)

Analysis of Property, Plant and Equipment