Walt Disney Co. (NYSE:DIS)

The financial data on property, plant, and equipment reveals a consistent upward trend in the recorded values across most categories over the examined periods.

Attractions, buildings, and improvements

This category shows a steady increase from approximately $31.3 billion to $41.5 billion over the years. The growth reflects ongoing investments or revaluations leading to asset expansion or enhancement.

Furniture, fixtures, and equipment

Value rose from about $23.0 billion to $30.9 billion, indicating continued capital expenditures and asset additions in this segment.

Land improvements

These assets increased gradually with minor fluctuations, starting at roughly $6.8 billion and growing to $8.6 billion, suggesting steady enhancements or new developments in land-related assets.

Leasehold improvements

Relatively stable figures were observed, ranging from around $1.0 billion to $1.1 billion, showing minor incremental updates or maintenance investments in this category.

Projects in progress

This item exhibited variability but overall growth, beginning at about $4.4 billion, dipping at some points and ultimately rising to $6.9 billion. This trend suggests ongoing active development projects with periods of acceleration and temporary slowdowns.

Land

Land values demonstrated a modest but consistent increase from approximately $1.0 billion to $1.2 billion, indicative of acquisitions or land revaluations.

Parks, resorts, and other property, at cost

The total recorded cost steadily increased from about $67.6 billion to $90.1 billion, highlighting significant capital investments in the overall property portfolio.

Accumulated depreciation

There is a consistent increase in accumulated depreciation, moving from negative $35.5 billion to negative $48.9 billion, reflecting aging assets and ongoing wear and tear being systematically accounted for over time.

Parks, resorts, and other property, net

The net book value has grown from approximately $32.1 billion to $41.3 billion, demonstrating that asset additions and capital expenditures have outpaced depreciation expenses, resulting in a larger net asset base.

Overall, the data indicate a pattern of sustained investment and capital growth in property, plant, and equipment assets, alongside consistent depreciation. The net asset growth suggests effective capitalization and asset management strategies ensuring expansion of the asset base over the years.

Average Age Ratio

The average age ratio of the property, plant, and equipment has demonstrated a generally increasing trend from 53.36% in 2020 to a peak of 55.9% in 2024, followed by a slight decrease to 54.96% in 2025. This indicates that over the years, the assets are aging progressively, with a marginal reduction in aging relative to total useful life in the most recent year.

Estimated Total Useful Life

The estimated total useful life of the assets fluctuated during the period studied, starting at 21 years in 2020, increasing to 23 years in 2021 and 2022, then briefly decreasing back to 21 years in 2023, before rising again to 24 years in 2024 and settling at 23 years in 2025. These variations suggest periodic reassessments or updates in the lifecycle estimations of the assets, possibly reflecting changes in asset maintenance, technology, or replacement strategy.

Estimated Age (Time Elapsed Since Purchase)

The estimated age of the assets has increased steadily from 11 years in 2020 to 13 years in 2024 and 2025, reflecting a natural progression in the aging of the asset base over time.

Estimated Remaining Life

The estimated remaining life of the assets remained relatively stable, fluctuating slightly between 9 and 10 years throughout the examined period. This stability suggests consistent asset replacement or refurbishment planning to maintain a steady remaining useful life across the property, plant, and equipment portfolio.

Accumulated Depreciation

There is a consistent upward trend in accumulated depreciation over the observed periods, increasing from 35,517 million US dollars in 2020 to 48,889 million US dollars in 2025. This reflects ongoing depreciation expenses and suggests that assets are steadily aging and being utilized.

Parks, Resorts, and Other Property, at Cost

The cost value of parks, resorts, and other property shows a continuous increase from 67,595 million US dollars in 2020 to 90,144 million US dollars in 2025. This indicates ongoing investments or acquisitions in property, plant, and equipment, leading to growth in the asset base.

Land

Land values demonstrate a moderate upward movement over the years, starting at 1,035 million US dollars in 2020 and reaching 1,192 million US dollars by 2025. This increase is less pronounced compared to other asset categories but indicates gradual appreciation or acquisition of land assets.

Average Age Ratio

The average age ratio exhibits a generally increasing pattern from 53.36% in 2020 to a peak of 55.9% in 2024, with a slight decline to 54.96% in 2025. This suggests that the overall asset base is aging, although there is a small reduction in average age in the latest period, potentially due to asset additions or retirements.

Overall Insights

The financial data indicates ongoing investment in property, reflected by rising asset costs and accumulated depreciation levels. The growth in accumulated depreciation aligns with asset aging, supported by the average age ratio trend. The moderate increase in land value suggests stable expansion or valuation changes in fixed land assets. The slight decrease in the average age ratio in the final period may imply asset renewal activities or disposals counterbalancing depreciation effects.

Parks, resorts and other property, at cost

The cost of parks, resorts, and other property exhibits a consistent upward trend over the observed periods. Starting at approximately $67,595 million in 2020, it gradually increased each year, reaching $90,144 million by 2025. This steady growth suggests ongoing capital investments and expansions in these assets.

Land

The land value shows minor fluctuations but remains relatively stable across the years. Beginning at $1,035 million in 2020, it increased modestly until 2023, with a slight dip in 2024 to $1,145 million before rising again to $1,192 million in 2025. The overall pattern indicates limited acquisition or disposal of land assets compared to other property categories.

Depreciation expense

Depreciation expense demonstrates variability but generally trends upward from 2020 through 2025. Starting at $3,140 million in 2020, it decreased slightly in 2021, then fluctuated with notable increases especially in 2023 ($3,626 million) and 2025 ($3,859 million). This pattern may reflect changes in asset base, useful lives, or depreciation methods.

Estimated total useful life

The estimated total useful life of assets shows moderate variation, ranging between 21 and 24 years. It increased from 21 years in 2020 to 23 years by 2021, maintained similar levels until 2023, then peaked at 24 years in 2024 before slightly declining to 23 years in 2025. These adjustments may indicate periodic reassessments of asset longevity, potentially influenced by maintenance practices or asset replacement policies.

Accumulated Depreciation

The accumulated depreciation shows a consistent upward trend over the six-year period. Starting from 35,517 million USD in 2020, it increased steadily each year, reaching 48,889 million USD by 2025. This indicates ongoing depreciation of property, plant, and equipment assets, reflecting their aging and usage over time.

Depreciation Expense

The depreciation expense exhibits some variability but generally remains within a comparable range throughout the period. It began at 3,140 million USD in 2020, experienced a slight decline to 3,068 million USD in 2021, then rose and fluctuated between 3,183 million and 3,859 million USD in subsequent years. The highest reported depreciation expense occurred in 2025. This variability may suggest changes in asset additions, disposals, or updates to depreciation methods.

Time Elapsed Since Purchase

The time elapsed since purchase shows a gradual increase from 11 years in 2020 to 13 years in 2025. This steady growth corresponds with the aging of the asset base, which is reflected in the rising accumulated depreciation. The plateau at 12 years during 2021 to 2023 might indicate periods of asset acquisition with similar acquisition dates or changes in asset composition.

Parks, resorts and other property, net

The net value of parks, resorts, and other property demonstrates a consistent upward trend over the observed periods. Starting at 32,078 million USD in 2020, it increased each year, reaching 41,255 million USD by 2025. This indicates ongoing investments or asset additions in these categories, reflecting growth or expansion strategies.

Land

Land values show modest fluctuations but generally exhibit a slight increasing trend over time. The value rose from 1,035 million USD in 2020 to 1,192 million USD in 2025. The relatively stable values suggest limited acquisition or disposal of land assets, with minor variations possibly due to revaluations or small transactions.

Depreciation expense

Depreciation expense fluctuates over the years with no clear linear trend but remains in a range between approximately 3,000 and 3,850 million USD. It decreased slightly from 3,140 million USD in 2020 to 3,068 million USD in 2021, then increased again to 3,859 million USD by 2025, suggesting variability in asset base usage, new asset additions, or changes in depreciation methods.

Estimated remaining life

The estimated remaining life of property, plant, and equipment remains relatively stable at around 10 years, except for a brief dip to 9 years in 2023. This stability implies consistent asset longevity expectations. The slight reduction in 2023 may reflect accelerated asset aging or re-estimation of useful life during that year.