Air Products Chemicals Inc
For the period ended Sep 30, 2024. Filed Nov 21, 2024.
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FY2024 · Filed Nov 21, 2024
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Plant and Equipment, net
- PLANT AND EQUIPMENT, NET
The major classes of plant and equipment are as follows:
| 30 September | Useful life | 2024 | 2023 |
|---|---|---|---|
| Land | $312.1 | $320.8 | |
| Buildings | 30 years | 1,730.7 | 1,543.7 |
| Production facilities(A) | 10-20 years | 21,245.2 | 19,593.1 |
| Distribution and other machinery and equipment(B) | 5-25 years | 5,472.7 | 5,129.6 |
| Construction in progress | 11,190.2 | 6,159.1 | |
| Plant and equipment, at cost | $39,950.9 | $32,746.3 | |
| Less: Accumulated depreciation | 16,580.0 | 15,274.2 | |
| Plant and equipment, net | $23,370.9 | $17,472.1 |
(A)Depreciable lives of production facilities related to long-term customer supply contracts are generally matched to the contract lives.
(B)The depreciable lives for various types of distribution equipment are:10 to 25 years for cylinders, depending on the nature and properties of the product;20 years for tanks; generally 7.5 years for customer stations; and 5 to 15 years for tractors and trailers.
Depreciation expense was $1,419.6, $1,325.8, and $1,302.7 in fiscal years 2024, 2023, and 2022, respectively.
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