Analysis of Property, Plant and Equipment
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Carrier Global Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Total Asset Turnover since 2020
- Price to Operating Profit (P/OP) since 2020
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Property, Plant and Equipment Disclosure
Carrier Global Corp., balance sheet: property, plant and equipment
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Item | Description | The company |
|---|---|---|
| Fixed assets, 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. | Carrier Global Corp. fixed assets, gross decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
| Fixed assets, 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. | Carrier Global Corp. fixed assets, net increased from 2020 to 2021 and from 2021 to 2022. |
Asset Age Ratios (Summary)
Carrier Global Corp., asset age ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Average age ratio | ||||
| Estimated total useful life (years) | ||||
| Estimated age, time elapsed since purchase (years) | ||||
| Estimated remaining life (years) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| 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. | Carrier Global Corp. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 and 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. | Carrier Global Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
| Estimated time elapsed since purchase | The approximate age in years of a company fixed assets. Useful for comparison purposes. | Carrier Global Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022. |
| Estimated remaining life | Carrier Global Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
Average Age
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Accumulated depreciation | ||||
| Fixed assets, gross | ||||
| Land | ||||
| Asset Age Ratio | ||||
| Average age1 | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Fixed assets, gross – Land)
= 100 × ÷ ( – ) =
| 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. | Carrier Global Corp. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022. |
Estimated Total Useful Life
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Fixed assets, gross | ||||
| Land | ||||
| Depreciation expense | ||||
| Asset Age Ratio (Years) | ||||
| Estimated total useful life1 | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 Estimated total useful life = (Fixed assets, gross – Land) ÷ Depreciation expense
= ( – ) ÷ =
| 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. | Carrier Global Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
Estimated Age, Time Elapsed since Purchase
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Accumulated depreciation | ||||
| Depreciation expense | ||||
| Asset Age Ratio (Years) | ||||
| Time elapsed since purchase1 | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= ÷ =
| 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. | Carrier Global Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022. |
Estimated Remaining Life
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Fixed assets, net | ||||
| Land | ||||
| Depreciation expense | ||||
| Asset Age Ratio (Years) | ||||
| Estimated remaining life1 | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2022 Calculations
1 Estimated remaining life = (Fixed assets, net – Land) ÷ Depreciation expense
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated remaining life | Carrier Global Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |