Analysis of Property, Plant and Equipment
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Caterpillar Inc. pages available for free this week:
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Property, Plant and Equipment Disclosure
Caterpillar Inc., balance sheet: property, plant and equipment
US$ in millions
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Item | Description | The company |
|---|---|---|
| Property, plant 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. | Caterpillar Inc. property, plant and equipment, at cost decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
| 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. | Caterpillar Inc. property, plant and equipment, net decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Asset Age Ratios (Summary)
Caterpillar Inc., asset age ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| 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. | Caterpillar Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023. |
| 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. | Caterpillar Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023. |
| Estimated time elapsed since purchase | The approximate age in years of a company fixed assets. Useful for comparison purposes. | Caterpillar Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
| Estimated remaining life | Caterpillar Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023. |
Average Age
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, at cost – 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. | Caterpillar Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023. |
Estimated Total Useful Life
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Estimated total useful life = (Property, plant and equipment, at cost – Land) ÷ Consolidated 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. | Caterpillar Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023. |
Estimated Age, Time Elapsed since Purchase
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Time elapsed since purchase = Accumulated depreciation ÷ Consolidated 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. | Caterpillar Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Estimated Remaining Life
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Estimated remaining life = (Property, plant and equipment, net – Land) ÷ Consolidated depreciation expense
= ( – ) ÷ =
| Asset age ratio | Description | The company |
|---|---|---|
| Estimated remaining life | Caterpillar Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023. |