Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment, Net of Accumulated Depreciation

v3.24.1.u1
Property, Plant and Equipment, Net of Accumulated Depreciation
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation PROPERTY, PLANT AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION
 
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
March 31, December 31,
2024 2023
Terminal and related assets    
Terminal and interconnecting pipeline facilities $ 34,093  $ 34,069 
Land 463  463 
Construction-in-process 4,001  3,480 
Accumulated depreciation (6,382) (6,099)
Total terminal and related assets, net of accumulated depreciation 32,175  31,913 
Fixed assets and other    
Computer and office equipment 37  37 
Furniture and fixtures 31  31 
Computer software 126  125 
Leasehold improvements 44  43 
Other 23  21 
Accumulated depreciation (187) (183)
Total fixed assets and other, net of accumulated depreciation 74  74 
Assets under finance leases
Marine assets 532  532 
Accumulated depreciation (76) (63)
Total assets under finance leases, net of accumulated depreciation 456  469 
Property, plant and equipment, net of accumulated depreciation $ 32,705  $ 32,456 
Depreciation expense was $300 million and $296 million during the three months ended March 31, 2024 and 2023, respectively.