Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age

Expand Energy Corp., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Proved natural gas and oil properties	23,093)	11,468)	11,096)	7,682)
Unproved properties	5,897)	1,806)	2,022)	1,530)
Natural gas and oil properties, successful efforts method	28,990)	13,274)	13,118)	9,212)
Buildings and improvements	329)	316)	325)	330)
Computer equipment	110)	94)	92)	87)
Gathering and water systems	78)	—)	—)	—)
Machinery and equipment	40)	19)	—)	—)
Land	29)	28)	32)	37)
Sand mine	—)	—)	—)	2)
Other	68)	40)	51)	39)
Other property and equipment	654)	497)	500)	495)
Property and equipment, at cost	29,644)	13,771)	13,618)	9,707)
Accumulated depreciation, depletion and amortization	(5,362)	(3,674)	(2,431)	(908)
Property and equipment, net	24,282)	10,097)	11,187)	8,799)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

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Item	Description	The company
Property and equipment, at 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.	Expand Energy Corp. property and equipment, at cost increased from 2022 to 2023 and from 2023 to 2024.
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.	Expand Energy Corp. property and equipment, net decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Expand Energy Corp., asset age ratios

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
	Average age ratio	18.11%	26.73%	17.89%	9.39%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

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.	Expand Energy Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Selected Financial Data (US$ in millions)
Accumulated depreciation, depletion and amortization	5,362)	3,674)	2,431)	908)
Property and equipment, at cost	29,644)	13,771)	13,618)	9,707)
Land	29)	28)	32)	37)
Asset Age Ratio
Average age¹	18.11%	26.73%	17.89%	9.39%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

2024 Calculations

¹ Average age = 100 × Accumulated depreciation, depletion and amortization ÷ (Property and equipment, at cost – Land)
= 100 × 5,362 ÷ (29,644 – 29) = 18.11%

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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.	Expand Energy Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Expand Energy Corp. (NASDAQ:EXE)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age