Paramount Global, balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Land	371)	372)	437)	439)	189)
Buildings	863)	842)	1,253)	1,263)	795)
Equipment and other	4,242)	4,272)	4,310)	4,291)	1,942)
Property and equipment, gross	5,476)	5,486)	6,000)	5,993)	2,926)
Accumulated depreciation	(3,714)	(3,750)	(4,006)	(3,908)	(1,717)
Property and equipment, net	1,762)	1,736)	1,994)	2,085)	1,209)

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Item	Description	The company
Property and equipment, gross	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.	Paramount Global property and equipment, gross decreased from 2020 to 2021 and from 2021 to 2022.
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.	Paramount Global property and equipment, net decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

Paramount Global, asset age ratios

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Average age ratio	72.75%	73.33%	72.01%	70.36%	62.73%
Estimated total useful life (years)	15	15	16	15	13
Estimated age, time elapsed since purchase (years)	11	11	12	11	8
Estimated remaining life (years)	4	4	5	4	5

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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.	Paramount Global average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
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.	Paramount Global estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Paramount Global estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Estimated remaining life		Paramount Global estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation	3,714)	3,750)	4,006)	3,908)	1,717)
Property and equipment, gross	5,476)	5,486)	6,000)	5,993)	2,926)
Land	371)	372)	437)	439)	189)
Asset Age Ratio
Average age¹	72.75%	73.33%	72.01%	70.36%	62.73%

2022 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property and equipment, gross – Land)
= 100 × 3,714 ÷ (5,476 – 371) = 72.75%

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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.	Paramount Global average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in millions)
Property and equipment, gross	5,476)	5,486)	6,000)	5,993)	2,926)
Land	371)	372)	437)	439)	189)
Depreciation expense	337)	344)	345)	366)	205)
Asset Age Ratio (Years)
Estimated total useful life¹	15	15	16	15	13

2022 Calculations

¹ Estimated total useful life = (Property and equipment, gross – Land) ÷ Depreciation expense
= (5,476 – 371) ÷ 337 = 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.	Paramount Global estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation	3,714)	3,750)	4,006)	3,908)	1,717)
Depreciation expense	337)	344)	345)	366)	205)
Asset Age Ratio (Years)
Time elapsed since purchase¹	11	11	12	11	8

2022 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 3,714 ÷ 337 = 11

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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.	Paramount Global estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in millions)
Property and equipment, net	1,762)	1,736)	1,994)	2,085)	1,209)
Land	371)	372)	437)	439)	189)
Depreciation expense	337)	344)	345)	366)	205)
Asset Age Ratio (Years)
Estimated remaining life¹	4	4	5	4	5

2022 Calculations

¹ Estimated remaining life = (Property and equipment, net – Land) ÷ Depreciation expense
= (1,762 – 371) ÷ 337 = 4

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Asset age ratio	Description	The company
Estimated remaining life		Paramount Global estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

Paramount Global (NASDAQ:PARA)

Analysis of Property, Plant and Equipment