Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age
Estimated Total Useful Life
Estimated Age, Time Elapsed Since Purchase
Estimated Remaining Life

Adobe Inc., balance sheet: property, plant and equipment

US$ in millions

	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
Computers and other equipment	1,490)	1,352)	1,255)	1,287)	1,424)	1,239)
Buildings	1,069)	555)	560)	561)	483)	485)
Building improvements	591)	347)	344)	340)	307)	286)
Leasehold improvements	275)	259)	268)	284)	246)	182)
Furniture and fixtures	171)	145)	150)	159)	144)	121)
Land	163)	144)	145)	145)	145)	145)
Capital projects in-progress	2)	675)	402)	199)	112)	23)
Property and equipment, cost	3,761)	3,477)	3,124)	2,975)	2,862)	2,481)
Accumulated depreciation and amortization	(1,731)	(1,569)	(1,451)	(1,458)	(1,569)	(1,406)
Property and equipment, net	2,030)	1,908)	1,673)	1,517)	1,293)	1,075)

Based on: 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30).

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Item	Description	The company
Property and equipment, 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.	Adobe Inc. property and equipment, cost increased from 2021 to 2022 and from 2022 to 2023.
Property 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.	Adobe Inc. property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Adobe Inc., asset age ratios

	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
Average age ratio	48.11%	47.07%	48.71%	51.52%	57.74%	60.19%
Estimated total useful life (years)	15	18	14	15	16	15
Estimated age, time elapsed since purchase (years)	7	8	7	8	9	9
Estimated remaining life (years)	8	9	7	7	7	6

Based on: 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30).

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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.	Adobe Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Adobe Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Adobe Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Estimated remaining life		Adobe Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	1,731)	1,569)	1,451)	1,458)	1,569)	1,406)
Property and equipment, cost	3,761)	3,477)	3,124)	2,975)	2,862)	2,481)
Land	163)	144)	145)	145)	145)	145)
Asset Age Ratio
Average age¹	48.11%	47.07%	48.71%	51.52%	57.74%	60.19%

Based on: 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property and equipment, cost – Land)
= 100 × 1,731 ÷ (3,761 – 163) = 48.11%

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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.	Adobe Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
Selected Financial Data (US$ in millions)
Property and equipment, cost	3,761)	3,477)	3,124)	2,975)	2,862)	2,481)
Land	163)	144)	145)	145)	145)	145)
Depreciation and amortization expense of property and equipment	235)	189)	207)	192)	173)	157)
Asset Age Ratio (Years)
Estimated total useful life¹	15	18	14	15	16	15

Based on: 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30).

2023 Calculations

¹ Estimated total useful life = (Property and equipment, cost – Land) ÷ Depreciation and amortization expense of property and equipment
= (3,761 – 163) ÷ 235 = 15

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Adobe Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	1,731)	1,569)	1,451)	1,458)	1,569)	1,406)
Depreciation and amortization expense of property and equipment	235)	189)	207)	192)	173)	157)
Asset Age Ratio (Years)
Time elapsed since purchase¹	7	8	7	8	9	9

Based on: 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30).

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation and amortization expense of property and equipment
= 1,731 ÷ 235 = 7

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Adobe Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
Selected Financial Data (US$ in millions)
Property and equipment, net	2,030)	1,908)	1,673)	1,517)	1,293)	1,075)
Land	163)	144)	145)	145)	145)	145)
Depreciation and amortization expense of property and equipment	235)	189)	207)	192)	173)	157)
Asset Age Ratio (Years)
Estimated remaining life¹	8	9	7	7	7	6

Based on: 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30).

2023 Calculations

¹ Estimated remaining life = (Property and equipment, net – Land) ÷ Depreciation and amortization expense of property and equipment
= (2,030 – 163) ÷ 235 = 8

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Asset age ratio	Description	The company
Estimated remaining life		Adobe Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Adobe Inc. (NASDAQ:ADBE)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life