Financial statement question: How do I find out about average life/age info on plant and equipment?

Question

Just from the balance sheet, like the depreciation expense amounts. I also know they use straight line. And some estimated lives (ranges), but not sure if I have to completely compute it from scratch or if there's some formula or what?

Answer 1

Looking at the balance sheet, you can't tell the age of each piece of equipment. From the relevant note to the financial statements, you can tell which group of assets is depreciated over how many yrs, and what the a/cg policy is, i.e. straight-line or reducing bal. method, etc. But because all the assets would be stated together by groups, you'd not know the age of each asset.