Williams-Sonoma Inc., balance sheet: property, plant and equipment

US$ in thousands

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Capitalized Software	1,048,023)	1,097,914)	980,876)	862,429)	788,635)	733,941)
Leasehold improvements	880,164)	895,732)	882,320)	896,865)	946,880)	950,259)
Fixtures and equipment	789,096)	933,922)	863,353)	828,344)	830,650)	836,400)
Land and buildings	181,089)	180,923)	179,843)	178,586)	177,088)	175,181)
Construction in progress	93,229)	61,455)	19,112)	3,046)	7,076)	7,205)
Corporate systems projects in progress	31,739)	49,444)	57,604)	58,599)	62,059)	39,416)
Property and equipment, gross	3,023,340)	3,219,390)	2,983,108)	2,827,869)	2,812,388)	2,742,402)
Accumulated depreciation	(2,010,151)	(2,154,009)	(2,062,335)	(1,953,975)	(1,883,350)	(1,812,767)
Property and equipment, net	1,013,189)	1,065,381)	920,773)	873,894)	929,038)	929,635)

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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.	Williams-Sonoma Inc. property and equipment, gross increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.
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.	Williams-Sonoma Inc. property and equipment, net increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Williams-Sonoma 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	66.49%	66.91%	69.13%	69.10%	66.97%	66.10%

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.	Williams-Sonoma Inc. average age ratio 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 thousands)
Accumulated depreciation	2,010,151)	2,154,009)	2,062,335)	1,953,975)	1,883,350)	1,812,767)
Property and equipment, gross	3,023,340)	3,219,390)	2,983,108)	2,827,869)	2,812,388)	2,742,402)
Asset Age Ratio
Average age¹	66.49%	66.91%	69.13%	69.10%	66.97%	66.10%

2024 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ Property and equipment, gross
= 100 × 2,010,151 ÷ 3,023,340 = 66.49%

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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.	Williams-Sonoma Inc. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.

Williams-Sonoma Inc. (NYSE:WSM)

Analysis of Property, Plant and Equipment