Walmart makes significant investments in operating capacity, primarily via investments in property, plant, and equipment, but also via investments in wholly and partially owned subsidiaries. Walmart also has significant non-U.S. operations in its Walmart International segment. The Chapter 8 online appendix provides Walmarts January 31, 2016, Consolidated Financial Statements and accompanying notes, which describe these significant investments.

How should an analyst interpret differences in this estimate between a company and its competitors?

Estimate the average age of depreciable assets, the percentage of PP&E that has been used up, and the remaining useful life. How might an analyst use this information?