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depletion
(redirected from deplete)

    Also found in: Dictionary/thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia 0.02 sec.
depletion
The periodic cost assigned for a reduction in the quantity and indicated value of a natural resource such as a mineral deposit or timber. Thus, depletion indicates an activity such as harvesting or mining a natural resource. See also cost depletion, depreciation, percentage depletion.
depletion

An accounting and tax term referring to deductions made to account for land becoming less valuable because of the removal of natural resources, including timber and geothermal deposits of hot water or hot rocks.

Examples of items eligible for the IRS depletion allowance under 26 U.S.C.§613(b) are

Borax
Marble
Carbon dioxide
Mollusk shells
Clay
Oil and gas
Coal
Potash
Copper
Sand
Gold
Silver
Granite
Shale
Gravel
Slate
Iron
Stone
Iron ore
Sulfur
Limestone
Timber

For more information,see Publication 535,“Business Expenses,”Chapter 10,“Depletion,”available at the IRS Web site,www.irs.gov.

Depletion
The process by which the cost or other basis of a natural resource (for example, an oil and gas interest) is recovered upon extraction and sale of the resource. The two ways to determine the depletion allowance are the cost and percentage methods, both of which are defined elsewhere in this glossary.


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If your cell phone battery is depleted for no obvious reason ("Cyber attack depletes cell phone batteries," SN: 9/16/06, p.
Bugged by Newcomb, Steven R. / Science News
Supply Widens: The amount of time needed to deplete the supply of homes for sale in California rose to more than three months for the first time in almost a year and a half, helping hold back the state's increase in housing prices.
Supply widens by Los Angeles Business Journal
Besides UNEP, other organizations involved in the initiative are Interpol, the World Customs Organization, and the secretariats of the three multilateral environmental agreements (MEAs) that have trade provisions: the Convention on Inter national Trade in Endangered Species of Wild Fauna and Flora (CITES), the Montreal Protocol on Substances that Deplete the Ozone Layer, and the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal.
Stopping traffic by Spivey, Angela / Environmental Health Perspectives
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