Procter & Gamble Co., balance sheet: property, plant and equipment

US$ in millions

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Buildings	8,277)	8,087)	8,165)	7,700)	7,746)	7,188)
Machinery and equipment	36,521)	35,098)	35,367)	33,260)	32,263)	30,595)
Land	867)	756)	808)	777)	805)	841)
Construction in progress	2,980)	2,756)	2,358)	2,034)	2,579)	3,223)
Property, plant and equipment, gross	48,645)	46,697)	46,698)	43,771)	43,393)	41,847)
Accumulated depreciation	(26,736)	(25,502)	(25,012)	(23,079)	(22,122)	(21,247)
Property, plant and equipment, net	21,909)	21,195)	21,686)	20,692)	21,271)	20,600)

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Item	Description	The company
Property, plant and equipment, gross	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.	Procter & Gamble Co. property, plant and equipment, gross decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Property, plant and equipment, net	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.	Procter & Gamble Co. property, plant and equipment, net decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Procter & Gamble Co., asset age ratios

		Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
	Average age ratio	55.96%	55.51%	54.50%	53.68%	51.94%	51.81%

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.	Procter & Gamble Co. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation	26,736)	25,502)	25,012)	23,079)	22,122)	21,247)
Property, plant and equipment, gross	48,645)	46,697)	46,698)	43,771)	43,393)	41,847)
Land	867)	756)	808)	777)	805)	841)
Asset Age Ratio
Average age¹	55.96%	55.51%	54.50%	53.68%	51.94%	51.81%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, gross – Land)
= 100 × 26,736 ÷ (48,645 – 867) = 55.96%

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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.	Procter & Gamble Co. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

Procter & Gamble Co. (NYSE:PG)

Analysis of Property, Plant and Equipment