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

Steel Dynamics Inc., balance sheet: property, plant and equipment

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Land and improvements	350,898)	340,495)	333,879)	331,926)	314,854)
Buildings and improvements	873,131)	860,641)	805,381)	778,701)	723,504)
Plant, machinery and equipment	5,193,405)	4,827,791)	4,594,778)	4,416,212)	4,035,717)
Construction in progress	1,839,110)	1,302,689)	390,676)	158,131)	91,433)
Property, plant and equipment, gross	8,256,544)	7,331,616)	6,124,714)	5,684,970)	5,165,508)
Accumulated depreciation	(3,505,114)	(3,226,047)	(2,988,828)	(2,739,203)	(2,489,604)
Property, plant and equipment, net	4,751,430)	4,105,569)	3,135,886)	2,945,767)	2,675,904)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Item	Description	The company
Property, plant 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.	Steel Dynamics Inc. property, plant and equipment, gross increased from 2019 to 2020 and from 2020 to 2021.
Property, plant 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.	Steel Dynamics Inc. property, plant and equipment, net increased from 2019 to 2020 and from 2020 to 2021.

Steel Dynamics Inc., asset age ratios

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Average age ratio	44.34%	46.14%	51.61%	51.17%	51.33%
Estimated total useful life (years)	25	24	20	19	18
Estimated age, time elapsed since purchase (years)	11	11	10	10	9
Estimated remaining life (years)	14	13	10	9	9

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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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.	Steel Dynamics Inc. average age ratio of depreciable property, plant and equipment improved from 2019 to 2020 and from 2020 to 2021.
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.	Steel Dynamics Inc. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Steel Dynamics Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated remaining life		Steel Dynamics Inc. estimated remaining life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in thousands)
Accumulated depreciation	3,505,114)	3,226,047)	2,988,828)	2,739,203)	2,489,604)
Property, plant and equipment, gross	8,256,544)	7,331,616)	6,124,714)	5,684,970)	5,165,508)
Land and improvements	350,898)	340,495)	333,879)	331,926)	314,854)
Asset Age Ratio
Average age¹	44.34%	46.14%	51.61%	51.17%	51.33%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, gross – Land and improvements)
= 100 × 3,505,114 ÷ (8,256,544 – 350,898) = 44.34%

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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.	Steel Dynamics Inc. average age ratio of depreciable property, plant and equipment improved from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in thousands)
Property, plant and equipment, gross	8,256,544)	7,331,616)	6,124,714)	5,684,970)	5,165,508)
Land and improvements	350,898)	340,495)	333,879)	331,926)	314,854)
Depreciation expense	311,400)	290,500)	285,600)	283,300)	263,700)
Asset Age Ratio (Years)
Estimated total useful life¹	25	24	20	19	18

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Estimated total useful life = (Property, plant and equipment, gross – Land and improvements) ÷ Depreciation expense
= (8,256,544 – 350,898) ÷ 311,400 = 25

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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.	Steel Dynamics Inc. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in thousands)
Accumulated depreciation	3,505,114)	3,226,047)	2,988,828)	2,739,203)	2,489,604)
Depreciation expense	311,400)	290,500)	285,600)	283,300)	263,700)
Asset Age Ratio (Years)
Time elapsed since purchase¹	11	11	10	10	9

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 3,505,114 ÷ 311,400 = 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.	Steel Dynamics Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in thousands)
Property, plant and equipment, net	4,751,430)	4,105,569)	3,135,886)	2,945,767)	2,675,904)
Land and improvements	350,898)	340,495)	333,879)	331,926)	314,854)
Depreciation expense	311,400)	290,500)	285,600)	283,300)	263,700)
Asset Age Ratio (Years)
Estimated remaining life¹	14	13	10	9	9

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Estimated remaining life = (Property, plant and equipment, net – Land and improvements) ÷ Depreciation expense
= (4,751,430 – 350,898) ÷ 311,400 = 14

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Asset age ratio	Description	The company
Estimated remaining life		Steel Dynamics Inc. estimated remaining life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.

Steel Dynamics Inc. (NASDAQ:STLD)

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