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

Home Depot Inc., balance sheet: property, plant and equipment

US$ in millions

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Land	9,027)	8,719)	8,617)	8,543)	8,390)	8,363)
Buildings and improvements	20,030)	19,430)	19,173)	18,838)	18,432)	18,199)
Furniture, fixtures and equipment	16,667)	16,564)	16,441)	15,119)	13,666)	12,460)
Leasehold improvements	2,254)	2,130)	2,016)	1,925)	1,789)	1,705)
Construction in progress	1,192)	1,297)	1,139)	1,068)	1,005)	820)
Finance leases	4,087)	4,135)	3,943)	3,308)	1,578)	1,392)
Property and equipment, at cost	53,257)	52,275)	51,329)	48,801)	44,860)	42,939)
Accumulated depreciation and finance lease amortization	(27,103)	(26,644)	(26,130)	(24,096)	(22,090)	(20,564)
Net property and equipment	26,154)	25,631)	25,199)	24,705)	22,770)	22,375)

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

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Item	Description	The company
Property 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.	Home Depot Inc. property and equipment, at cost increased from 2022 to 2023 and from 2023 to 2024.
Net property and equipment	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.	Home Depot Inc. net property and equipment increased from 2022 to 2023 and from 2023 to 2024.

Home Depot Inc., asset age ratios

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Average age ratio	61.28%	61.17%	61.18%	59.85%	60.57%	59.47%
Estimated total useful life (years)	15	16	16	17	16	17
Estimated age, time elapsed since purchase (years)	9	10	10	10	10	10
Estimated remaining life (years)	6	6	6	7	6	7

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

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

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and finance lease amortization	27,103)	26,644)	26,130)	24,096)	22,090)	20,564)
Property and equipment, at cost	53,257)	52,275)	51,329)	48,801)	44,860)	42,939)
Land	9,027)	8,719)	8,617)	8,543)	8,390)	8,363)
Asset Age Ratio
Average age¹	61.28%	61.17%	61.18%	59.85%	60.57%	59.47%

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

2024 Calculations

¹ Average age = 100 × Accumulated depreciation and finance lease amortization ÷ (Property and equipment, at cost – Land)
= 100 × 27,103 ÷ (53,257 – 9,027) = 61.28%

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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.	Home Depot Inc. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Selected Financial Data (US$ in millions)
Property and equipment, at cost	53,257)	52,275)	51,329)	48,801)	44,860)	42,939)
Land	9,027)	8,719)	8,617)	8,543)	8,390)	8,363)
Depreciation and finance lease amortization expense	3,020)	2,756)	2,650)	2,425)	2,223)	2,076)
Asset Age Ratio (Years)
Estimated total useful life¹	15	16	16	17	16	17

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

2024 Calculations

¹ Estimated total useful life = (Property and equipment, at cost – Land) ÷ Depreciation and finance lease amortization expense
= (53,257 – 9,027) ÷ 3,020 = 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.	Home Depot Inc. estimated total useful life of depreciable property, plant and equipment decreased from 2022 to 2023 and from 2023 to 2024.

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and finance lease amortization	27,103)	26,644)	26,130)	24,096)	22,090)	20,564)
Depreciation and finance lease amortization expense	3,020)	2,756)	2,650)	2,425)	2,223)	2,076)
Asset Age Ratio (Years)
Time elapsed since purchase¹	9	10	10	10	10	10

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

2024 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and finance lease amortization ÷ Depreciation and finance lease amortization expense
= 27,103 ÷ 3,020 = 9

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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.	Home Depot Inc. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Selected Financial Data (US$ in millions)
Net property and equipment	26,154)	25,631)	25,199)	24,705)	22,770)	22,375)
Land	9,027)	8,719)	8,617)	8,543)	8,390)	8,363)
Depreciation and finance lease amortization expense	3,020)	2,756)	2,650)	2,425)	2,223)	2,076)
Asset Age Ratio (Years)
Estimated remaining life¹	6	6	6	7	6	7

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

2024 Calculations

¹ Estimated remaining life = (Net property and equipment – Land) ÷ Depreciation and finance lease amortization expense
= (26,154 – 9,027) ÷ 3,020 = 6

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Asset age ratio	Description	The company
Estimated remaining life		Home Depot Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2022 to 2023 and from 2023 to 2024.

Home Depot Inc. (NYSE:HD)

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