Mastercard Inc PP&E Disclosure
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| Buildings, building equipment and land | $ | 744 | $ | 709 | ||||||||||
| Equipment | 2,347 | 2,118 | ||||||||||||
| Furniture and fixtures | 105 | 101 | ||||||||||||
| Leasehold improvements | 497 | 436 | ||||||||||||
| Operating lease right-of-use assets | 1,366 | 1,167 | ||||||||||||
| Property, equipment and right-of-use assets | 5,059 | 4,531 | ||||||||||||
| Less: Accumulated depreciation and amortization | (2,756) | (2,393) | ||||||||||||
| Property, equipment and right-of-use assets, net | $ | 2,303 | $ | 2,138 | ||||||||||
| Asset Category | Estimated Useful Life | |||||||
| Buildings | 30 years | |||||||
| Building equipment | 10 - 15 years | |||||||
Equipment and furniture and fixtures | 2 - 6 years | |||||||
| Leasehold improvements | Shorter of life of improvement or lease term | |||||||
| Right-of-use assets | Shorter of life of the asset or lease term | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 11, 2026 | Showing above |
| 2024 | Feb 12, 2025 | |
| 2023 | Feb 13, 2024 | |
| 2022 | Feb 14, 2023 | |
| 2021 | Feb 11, 2022 | |
| 2020 | Feb 12, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2018 | Feb 13, 2019 | |
| 2017 | Feb 14, 2018 | |
| 2016 | Feb 15, 2017 | |
| 2015 | Feb 12, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.