Walt Disney Co. (NYSE:DIS)

Attractions, buildings and improvements

The value shows a steady increase from US$29,509 million in 2019 to US$39,246 million in 2024, reflecting consistent investment and growth in this asset category over the period.

Furniture, fixtures and equipment

There is a clear upward trend, rising from US$21,265 million in 2019 to US$28,279 million in 2024, indicating ongoing capital expenditure to maintain or upgrade these assets.

Land improvements

This category has experienced moderate growth from US$6,649 million in 2019 to US$8,067 million in 2024, with a slight dip observed in 2023 before recovering in 2024, suggesting cyclical investment or revaluation impacts.

Leasehold improvements

Values have remained relatively stable ranging between US$1,028 million and US$1,166 million, with minor fluctuations indicating limited changes or steady maintenance expenditure in this category.

Projects in progress

This account increased from US$4,264 million in 2019 to a peak of US$6,285 million in 2023, followed by a decline to US$4,728 million in 2024. The pattern suggests significant project activity culminating in 2023 with subsequent capitalization or completion in 2024.

Land

The value of land remained relatively constant over the period, fluctuating slightly around US$1,100 million, indicating minimal acquisition or disposal of land assets.

Parks, resorts and other property, at cost

This total asset cost has shown consistent growth from US$64,018 million in 2019 to US$82,547 million in 2024, reflecting sustained investment in park and resort properties.

Accumulated depreciation

Accumulated depreciation increased in magnitude from -US$32,415 million in 2019 to -US$45,506 million in 2024, indicating ongoing wear and tear or usage of assets consistent with asset age and investment levels.

Parks, resorts and other property, net

The net book value rose steadily from US$31,603 million in 2019 to US$37,041 million in 2024, demonstrating that asset additions and improvements have outpaced depreciation over the period.

Average age ratio

The average age ratio showed a consistent upward trend over the six-year period, increasing from 51.57% in 2019 to 55.9% in 2024. This indicates that the property, plant, and equipment assets have been aging steadily, with more than half of their estimated useful life elapsed by 2024.

Estimated total useful life

The estimated total useful life of the assets fluctuated moderately, starting at 22 years in 2019, dipping to 21 years in 2020 and 2023, rising back to 23 years in 2021 and 2022, and ultimately increasing to 24 years by 2024. These variations suggest periodic reassessments of asset longevity, potentially reflecting changes in maintenance, technology, or asset categories.

Estimated age, time elapsed since purchase

The estimated age of the assets steadily increased from 11 years in 2019 and 2020, to 12 years from 2021 through 2023, and reached 13 years in 2024. This consistent increase confirms a natural aging process with no indications of significant asset turnover or replacement accelerating within this period.

Estimated remaining life

The estimated remaining life remained relatively stable but showed a slight declining tendency, moving from 11 years in 2019 down to 9 years in 2023, before slightly increasing to 10 years in 2024. This pattern suggests that while assets are aging, certain adjustments or revaluations may have extended the anticipated usable life towards the end of the period.

Accumulated Depreciation

The accumulated depreciation increased steadily from US$32,415 million in 2019 to US$45,506 million in 2024. This consistent upward trend reflects ongoing depreciation charges over the years, indicating continuous use and aging of property, plant, and equipment assets. The rate of increase appears relatively stable, suggesting a regular pattern of asset aging and depreciation expense recognition.

Parks, Resorts and Other Property, at Cost

The cost of parks, resorts, and other property exhibited a steady upward trend across the period, rising from US$64,018 million in 2019 to US$82,547 million in 2024. This growth indicates ongoing capital investments or acquisitions in these asset categories, reflecting expansion or maintenance efforts to support operations. The rate of increase in asset cost slightly accelerated in later years, particularly from 2022 onwards, hinting at potentially higher investment activity.

Land

The value of land holdings remained relatively stable during the period, with minor fluctuations around the US$1,000 to US$1,175 million range. It decreased slightly in 2020 to US$1,035 million but then recovered and remained fairly constant, ending at US$1,145 million in 2024. This stability suggests limited acquisition or disposal of land assets within the timeframe.

Average Age Ratio (%)

The average age ratio showed a gradual increase from 51.57% in 2019 to 55.9% in 2024. This upward trend implies that the asset base is maturing, with a growing proportion of older assets relative to the total asset base. The increase is consistent but moderate, indicating a balanced approach to asset renewal versus retention.

Parks, resorts and other property, at cost

The value of parks, resorts, and other property at cost has shown a consistent upward trend over the evaluated period. Starting from approximately 64.0 billion USD in late 2019, it increased steadily each year, reaching about 82.5 billion USD by late 2024. This indicates ongoing investment or asset capitalization in these areas.

Land

The land asset value demonstrated minor fluctuations without a clear directional trend. It decreased slightly from 1.165 billion USD in 2019 to around 1.035 billion USD in 2020, then generally hovered around 1.1 to 1.2 billion USD in subsequent years, ending at 1.145 billion USD in 2024. This relative stability suggests limited acquisition or disposal of land assets during this timeframe.

Depreciation expense

Depreciation expense exhibited variability but trended upward overall. Beginning at approximately 2.837 billion USD in 2019, it increased to around 3.626 billion USD in 2023 before slightly decreasing to 3.434 billion USD in 2024. The increase in depreciation expense is consistent with the growth in asset base, while the slight decline in the last year may reflect changes in asset composition or depreciation policies.

Estimated total useful life

The estimated total useful life of the assets showed some fluctuations, ranging from 21 to 24 years during the analyzed period. This variation suggests periodic reassessments or revisions of asset longevity assumptions, affecting depreciation calculations and asset management strategies.

Accumulated depreciation

The accumulated depreciation shows a consistent upward trend from US$32,415 million in September 2019 to US$45,506 million in September 2024. This steady increase indicates ongoing depreciation of property, plant, and equipment assets over the years, reflecting continuous utilization and aging of the asset base.

Depreciation expense

Depreciation expense fluctuates over the analyzed periods, starting at US$2,837 million in 2019, rising to a peak of US$3,626 million in 2023, before slightly declining to US$3,434 million in 2024. The general trend suggests increased annual depreciation charges, likely due to new asset acquisitions or changes in asset valuation, although the recent slight decrease may signal adjustments in asset base or depreciation methods.

Time elapsed since purchase

The time elapsed since purchase increases incrementally from 11 years in 2019 and 2020 to 13 years by 2024. This incremental increase aligns with the natural aging of the company's property, plant, and equipment, indicating there are no major asset replacements resetting the average age significantly.

The analysis of the property, plant, and equipment data over the six-year period reveals several noteworthy trends and patterns.

Parks, resorts and other property, net

This asset category shows a consistent upward trend throughout the period. Starting at 31,603 million US dollars in late 2019, it steadily increases each year to reach 37,041 million US dollars by late 2024. This represents a cumulative growth of approximately 17.1% over six years, indicating ongoing investment or capitalization in these assets.

Land

The value of land fluctuates moderately over the period without a clear directional trend. It declines from 1,165 million US dollars in 2019 to a low of 1,035 million US dollars in 2020, then partially recovers to 1,145 million US dollars by 2024. These variations may reflect disposals, revaluations, or adjustments rather than significant expansion or contraction in land holdings.

Depreciation expense

Depreciation expense demonstrates an overall upward trend with minor fluctuations. It increases from 2,837 million US dollars in 2019 to a peak of 3,626 million US dollars in 2023, before slightly decreasing to 3,434 million US dollars in 2024. The rising depreciation expense aligns with the growing net asset base, though the slight decrease in the final year could suggest changes in asset composition or depreciation methods.

Estimated remaining life

The estimated remaining useful life of the relevant assets remains fairly stable, fluctuating between 9 and 11 years, mostly remaining at 10 years. A slight reduction to 9 years in 2023 indicates a possible shortening of asset life estimates, but this returns to 10 years in 2024. Such changes may result from asset aging or reassessments of useful life assumptions.

Overall, the data reflect steady growth in property-related assets, supported by a corresponding increase in depreciation expense. Land values remain relatively stable with minor fluctuations. The relatively consistent estimated remaining life indicates stable asset usage expectations over the analyzed timeframe.