Lam Research Corp., balance sheet: property, plant and equipment

US$ in thousands

	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Manufacturing and engineering equipment	1,956,478)	1,802,627)	1,588,805)	1,328,399)	1,154,668)	1,039,454)
Buildings and improvements	1,605,802)	1,286,849)	1,124,381)	840,661)	660,865)	664,061)
Computer and computer-related equipment	178,941)	174,084)	177,198)	181,781)	178,193)	190,974)
Land	163,796)	98,739)	84,733)	84,681)	58,805)	46,155)
Office equipment, furniture and fixtures	85,629)	83,108)	70,642)	95,259)	83,386)	82,115)
Property and equipment, gross, excluding finance right-of-use assets	3,990,646)	3,445,407)	3,045,759)	2,530,781)	2,135,917)	2,022,759)
Accumulated depreciation and amortization, excluding finance right-of-use assets	(1,860,664)	(1,642,456)	(1,440,325)	(1,271,356)	(1,082,827)	(963,682)
Property and equipment, net, excluding finance right-of-use assets	2,129,982)	1,802,951)	1,605,434)	1,259,425)	1,053,090)	1,059,077)

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

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Item	Description	The company
Property and equipment, gross, excluding finance right-of-use 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.	Lam Research Corp. property and equipment, gross, excluding finance right-of-use assets increased from 2022 to 2023 and from 2023 to 2024.
Property and equipment, net, excluding finance right-of-use assets	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.	Lam Research Corp. property and equipment, net, excluding finance right-of-use assets increased from 2022 to 2023 and from 2023 to 2024.

Lam Research Corp., asset age ratios

	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Average age ratio	48.62%	49.08%	48.64%	51.97%	52.13%	48.75%
Estimated total useful life (years)	13	12	12	11	10	11
Estimated age, time elapsed since purchase (years)	6	6	6	6	5	5
Estimated remaining life (years)	7	6	6	5	5	6

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

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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.	Lam Research Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 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.	Lam Research Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Lam Research Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2022 to 2023 and from 2023 to 2024.
Estimated remaining life		Lam Research Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization, excluding finance right-of-use assets	1,860,664)	1,642,456)	1,440,325)	1,271,356)	1,082,827)	963,682)
Property and equipment, gross, excluding finance right-of-use assets	3,990,646)	3,445,407)	3,045,759)	2,530,781)	2,135,917)	2,022,759)
Land	163,796)	98,739)	84,733)	84,681)	58,805)	46,155)
Asset Age Ratio
Average age¹	48.62%	49.08%	48.64%	51.97%	52.13%	48.75%

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

2024 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization, excluding finance right-of-use assets ÷ (Property and equipment, gross, excluding finance right-of-use assets – Land)
= 100 × 1,860,664 ÷ (3,990,646 – 163,796) = 48.62%

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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.	Lam Research Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Selected Financial Data (US$ in thousands)
Property and equipment, gross, excluding finance right-of-use assets	3,990,646)	3,445,407)	3,045,759)	2,530,781)	2,135,917)	2,022,759)
Land	163,796)	98,739)	84,733)	84,681)	58,805)	46,155)
Depreciation expense, excluding amortization of finance lease right of use assets	299,000)	282,800)	248,200)	229,800)	198,800)	182,100)
Asset Age Ratio (Years)
Estimated total useful life¹	13	12	12	11	10	11

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

2024 Calculations

¹ Estimated total useful life = (Property and equipment, gross, excluding finance right-of-use assets – Land) ÷ Depreciation expense, excluding amortization of finance lease right of use assets
= (3,990,646 – 163,796) ÷ 299,000 = 13

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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.	Lam Research Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization, excluding finance right-of-use assets	1,860,664)	1,642,456)	1,440,325)	1,271,356)	1,082,827)	963,682)
Depreciation expense, excluding amortization of finance lease right of use assets	299,000)	282,800)	248,200)	229,800)	198,800)	182,100)
Asset Age Ratio (Years)
Time elapsed since purchase¹	6	6	6	6	5	5

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

2024 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and amortization, excluding finance right-of-use assets ÷ Depreciation expense, excluding amortization of finance lease right of use assets
= 1,860,664 ÷ 299,000 = 6

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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.	Lam Research Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2022 to 2023 and from 2023 to 2024.

	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Selected Financial Data (US$ in thousands)
Property and equipment, net, excluding finance right-of-use assets	2,129,982)	1,802,951)	1,605,434)	1,259,425)	1,053,090)	1,059,077)
Land	163,796)	98,739)	84,733)	84,681)	58,805)	46,155)
Depreciation expense, excluding amortization of finance lease right of use assets	299,000)	282,800)	248,200)	229,800)	198,800)	182,100)
Asset Age Ratio (Years)
Estimated remaining life¹	7	6	6	5	5	6

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

2024 Calculations

¹ Estimated remaining life = (Property and equipment, net, excluding finance right-of-use assets – Land) ÷ Depreciation expense, excluding amortization of finance lease right of use assets
= (2,129,982 – 163,796) ÷ 299,000 = 7

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Asset age ratio	Description	The company
Estimated remaining life		Lam Research Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Lam Research Corp. (NASDAQ:LRCX)

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