Best practice is to differentiate between maintenance capex and growth capex.
Maintenance capex in the long term should be around Depreciation and Amortisation.
Growth capex should directly increase assets.
So maintenance capex is reflected in EBIT, with a delay, newer assets often have higher maintenance costs, but are usually depreciated on a long term average, so its a bit fuzzy.
Growth capex is reflected in book value.
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