RECENT POSTS
Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

Wednesday, January 2, 2019
Quants: Point-in-Time Data for Backtesting

Friday, December 28, 2018
Now Showing: Controls & Procedures

Thursday, December 27, 2018
A Reminder on Non-GAAP Reporting Rules

Monday, December 17, 2018
Researching PG&E’s Wildfire Risk

Wednesday, December 12, 2018
Tracking Brexit Disclosures

Thursday, December 6, 2018
Campbell Soup: Looking Behind the Label

Sunday, December 2, 2018
SEC Comment Letters: The Amazon Example

Wednesday, November 28, 2018
Measuring Big Pharma’s Chemical Dependency

Monday, November 26, 2018
Analysts, Can You Relate? A True Story

Monday, November 19, 2018
Digging Up Historical Trend Data: Quest Example

Sunday, November 11, 2018
Cost of Revenue, SG&A: Q3 Update

Monday, November 5, 2018
Lease Accounting: FedEx vs. UPS

Saturday, November 3, 2018
New Email Alerting Powers

Wednesday, October 31, 2018
PTC and Two Tales of Revenue

Tuesday, October 30, 2018
10-K/Q Section Text Change Detection

Sunday, October 28, 2018
Finding Purchase Price Allocation

Sunday, October 21, 2018
Charting Netflix Growth in Three Ways

Archive  |  Search:
Chinese Segments PP&E
Thursday, September 17, 2015

In continuing our theme of examining firm level segment disclosures, we took a brief look at the Property Plant and Equipment that US firms reported in China. Our sample size is relatively small (30+ firms), but the point is that this data is not hard to obtain using Calcbench. As firms continue to disclose more information about geographies, we will be able to get it to our customers in short order.

In our sample, average Chinese PP&E increased roughly 14% from 2012 to 2014 from $612 Million to almost $700 million. Most of that gain, however, was recorded by Apple, Inc whose investment increased from 7.3 Billion to almost 9.5 billion dollars. Removing Apple from the average, however, we still find a 4.6% increase in PP&E across the remaining firms.

One very interesting finding is that storage device makers, including Seagate, Western Digital, Micron and Sandisk have all decreased their Chinese exposure by roughly 20% each over the last three years.

Below is a table of firms with their US Dollar exposure (Millions) to China via their Property, Plant and Equipment from 2012 through 2014. We limited this to firms that explicitly tag Chinese PP&E and have at least 100 Million dollars of exposure in each of the last 3 full year periods.

2012 2013 2014
Alcoa Inc. 395 388 389
Barnes Group Inc 152 156 152
Borgwarner Inc 184 239 300
Celanese Corp 642 653 593
Momentive Performance Materials Inc. 475 374 344
Cummins Inc 589 646 692
Conocophillips 2408 2143 1913
Cree Inc 122 155 131
Goodyear Tire & Rubber Co /OH/ 796 821 809
Hanesbrands Inc. 144 133 117
Joy Global Inc 289 319 281
Lear Corp 132 171 180
Micron Technology Inc 328 350 242
NXP Semiconductors N.V. 131 115 116
Regal Beloit Corp 108 111 108
Sensata Technologies Holding N.V. 135 152 171
Seagate Technology plc 212 167 138
Trw Automotive Holdings Corp 357 478 565
Ttm Technologies Inc 790 755 683
Visteon Corp 133 182 213
Viasystems Group Inc 285 303 290
Western Digital Corp 348 279 218
WuXi PharmaTech (Cayman) Inc. 247 263 320
Air Products & Chemicals Inc /DE/ 919 1282 1583
Amkor Technology, Inc. 410 525 575
Dupont E I De Nemours & Co 423 356 348
Sandisk Corp 351 300 284
Autoliv Inc 243 277 391
Cabot Corp 305 385 355
Federal-Mogul Holdings Corp 126 158 234
On Semiconductor Corp 104 101 122
Apple Inc 7314 7403 9477

FREE Calcbench Premium
Two Week Trial

Research Financial & Accounting Data Like Never Before. More features and try our Excel add-in. Sign up now to try the Premium Suite.