The 2013 financial statements for leggett amp platt inc, Ask an Expert

Accounting

The 2013 financial statements for Leggett & Platt, Inc. report the following information:

Year ended December 31, 2013

(In millions) 2013 2012

Depreciation and amortization expense $ 90.1 $ 90.4

Property and equipment, net 574.6 572.8

Land 44.5 45.3

Accumulated depreciation and amortization 1,266.6 1,237.4

Please show the formula and the answer to a and b below.

a. By what percentage are the assets ‘used up’ at the year-end 2013? What implication does this ratio have for future cash flows at Leggett & Platt?

b. Estimate the useful life on average for the Leggett & Platt depreciable assets.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91975413

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