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Analysis of Property, Plant and Equipment
Property, Plant and Equipment Disclosure
Schlumberger Ltd., balance sheet: property, plant and equipment
US$ in millions
Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).
| Item | Description | The company |
|---|---|---|
| Fixed assets | 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. | Schlumberger Ltd.’s fixed assets increased from 2017 to 2018 but then decreased significantly from 2018 to 2019. |
| Fixed assets 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. | Schlumberger Ltd.’s fixed assets less accumulated depreciation increased from 2017 to 2018 but then decreased significantly from 2018 to 2019. |
Asset Age Ratios (Summary)
Schlumberger Ltd., asset age ratios
Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).
| 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’s fixed asset base is old or new. Newer assets are likely to be more efficient. | Schlumberger Ltd.’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 and from 2018 to 2019. |
| 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. | Schlumberger Ltd.’s estimated total useful life of depreciable property, plant and equipment increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |
| Estimated time elapsed since purchase | The approximate age in years of a company’s fixed assets. Useful for comparison purposes. | Schlumberger Ltd.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2017 to 2018 and from 2018 to 2019. |
| Estimated remaining life | Schlumberger Ltd.’s estimated remaining life of depreciable property, plant and equipment increased from 2017 to 2018 but then decreased significantly from 2018 to 2019. |
Average Age
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Accumulated depreciation | ||||||
| Fixed assets | ||||||
| Land | ||||||
| Asset Age Ratio | ||||||
| Average age1 | ||||||
Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).
2019 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Fixed assets – 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’s fixed asset base is old or new. Newer assets are likely to be more efficient. | Schlumberger Ltd.’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 and from 2018 to 2019. |
Estimated Total Useful Life
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Fixed assets | ||||||
| Land | ||||||
| Depreciation expense | ||||||
| Asset Age Ratio (Years) | ||||||
| Estimated total useful life1 | ||||||
Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).
2019 Calculations
1 Estimated total useful life = (Fixed assets – 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’s depreciation policy and can be used for comparisons with competitors. | Schlumberger Ltd.’s estimated total useful life of depreciable property, plant and equipment increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |
Estimated Age, Time Elapsed since Purchase
Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).
2019 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’s fixed assets. Useful for comparison purposes. | Schlumberger Ltd.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2017 to 2018 and from 2018 to 2019. |
Estimated Remaining Life
Based on: 10-K (filing date: 2020-01-22), 10-K (filing date: 2019-01-23), 10-K (filing date: 2018-01-24), 10-K (filing date: 2017-01-25), 10-K (filing date: 2016-01-27).
2019 Calculations
1 Estimated remaining life = (Fixed assets less accumulated depreciation – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated remaining life | Schlumberger Ltd.’s estimated remaining life of depreciable property, plant and equipment increased from 2017 to 2018 but then decreased significantly from 2018 to 2019. |