First Horizon (NYSE:FHN) Gross Property, Plant and Equipment

: $1,067 Mil (As of Dec. 2022)

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First Horizon's quarterly gross PPE declined from Jun. 2022 ($636 Mil) to Sep. 2022 ($622 Mil) but then increased from Sep. 2022 ($622 Mil) to Dec. 2022 ($1,067 Mil).

First Horizon's annual gross PPE stayed the same from Dec. 2020 ($1,136 Mil) to Dec. 2021 ($1,072 Mil) but then declined from Dec. 2021 ($1,072 Mil) to Dec. 2022 ($1,067 Mil).

First Horizon Gross Property, Plant and Equipment Historical Data

The historical data trend for First Horizon's Gross Property, Plant and Equipment can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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First Horizon Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Gross Property, Plant and Equipment

815.85

793.00

1,136.00

1,072.00

1,067.00

First Horizon Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
Gross Property, Plant and Equipment																1,072.00	669.00	636.00	622.00	1,067.00

First Horizon Gross Property, Plant and Equipment Calculation

Property, Plant and Equipment (PPE) are the fixed assets of the company. Fixed assets are also known as non-current assets.

Property, plant, and equipment includes assets that will - in the normal course of business - neither be used up in the next year nor will become a part of any product sold to customers.

Some of the most common parts of property, plant, and equipment are:

Land
Buildings (and leasehold improvements)
Transportation equipment
Manufacturing equipment
Office equipment
Office furniture

Companies with lots of property, plant, and equipment often have special categories. For example, railroad property includes:

Track
Ties
Ballast
Bridges
Tunnels
Signals
Locomotives
Freight Cars

There is often a note in the financial statements - found in a company's 10-K - that will explain the different categories of property a company owns.

The market value of property, plant, and equipment can differ tremendously from the book value of property, plant, and equipment.

For example, when Berkshire Hathaway liquidated its textile mills, it had to pay the buyers of the company's manufacturing equipment to haul the equipment away. That property, plant, and equipment was literally worth less than zero. On the other hand, some companies own thousands of acres of land.

All property, plant, and equipment other than land is depreciated. Land is never depreciated. However, land is not marked up to market value either. Under Generally Accepted Accounting Principles (GAAP), land is shown on the balance sheet at cost.

The property, plant, and equipment line shown on the balance sheet is usually net property, plant, and equipment. This means it is the cost of the property, plant, and equipment less accumulated depreciation.

First Horizon (NYSE:FHN) Gross Property, Plant and Equipment Explanation

A company with durable competitive advantage doesn't need to constantly upgrade its equipment to stay competitive. The company replaces when it wears out. On the other hand, a company without any advantages must replace to keep pace.

Difference between a company with a moat and one without is that the company with the competitive advantage finances new equipment through internal cash flows, whereas the no advantage company requires debt to finance.

Producing a consistent product that doesn't change equates to consistent profits. There is no need to upgrade plants which frees up cash for other ventures. Think Coca Cola, Johnson & Johnson etc.

First Horizon Gross Property, Plant and Equipment Related Terms

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First Horizon (NYSE:FHN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First Horizon Corp (NYSE:FHN) » Definitions » Gross Property, Plant and Equipment

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Address

165 Madison Avenue, Memphis, TN, USA, 38103

Website

https://www.firsthorizon.com

First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee. The regional bank is responsible for roughly 65% of its revenue, while capital markets make a 25% contribution. The remainder is split between the firm's non-strategic (wind-down) and corporate operations. First Horizon concentrates on offering a variety of banking products mainly in its home state, where it has the second- largest deposit franchise with a 13% deposit market share.

Executives

Hope Dmuchowski	officer: Sr. EVP & CFO	165 MADISON AVE, MEMPHIS TN 38103
John N Casbon	director	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Tammy Locascio	officer: Sr. EVP, Chief HR Officer	165 MADISON AVE, MEMPHIS TN 38103
Kemp Sr James Michael	director	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Ricky E Maples	director	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Terry Lawson Akins	officer: Sr. EVP, Chief Risk Officer	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Elizabeth A Ardoin	officer: SEVP, Chief Communications Ofc	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Rosa Sugranes	director	2975 N.W. 77TH AVE, DORAL FL 33132
Anthony J Restel	officer: SEVP Chief Operating Officer	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Shea E Stewart Iii	director	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
William H Fenstermaker	director	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Daryl G Byrd	director, officer: Executive Chairman of Board	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Barton Harry V Jr	director	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Michael J Brown	officer: President - Regional Banking	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Wendy P Davidson	director	2210 WEST OAKLAWN DRIVE, SPRINGDALE AR 72762