Long-lived assets refer to the long term assets that include property, plant and equipment (PPE), natural resources, intangible assets, and financial assets. This section largely focuses on property, plant and equipment (PPE), but there will be some discussion of intangible assets.
Property, Plant and Equipment is shown on the balance sheet on a gross (total amount paid to acquire and ready the equipment for use) and net basis.
Gross: Property, Plant, & Equipment
Less: Accumulated Depreciation
Net: PP&E