Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

7.    PROPERTY, PLANT, AND EQUIPMENT

Major classes of property, plant, and equipment, including assets held under finance leases, consisted of the following (in millions):

	December 31,
	2020		2019
Land	$	485	$	476
Crude oil processing facilities	32,246		31,419
Transportation and terminaling facilities	5,290		5,179
Rendered and recycled materials processing facilities	631		628
Corn processing facilities	1,212		1,201
Administrative buildings	1,038		1,015
Finance lease ROU assets (see Note 6)	1,902		944
Other	1,764		1,701
Construction in progress	2,399		1,731
Property, plant, and equipment, at cost	46,967		44,294
Accumulated depreciation	(16,578)		(15,030)
Property, plant, and equipment, net	$	30,389	$	29,264

As described in Note 6, our finance lease ROU assets arise from leasing arrangements for the right to use various classes of underlying assets including (i) pipelines, terminals, and tanks, (ii) marine and rail transportation, and (iii) feedstock processing equipment. Accumulated amortization of finance lease ROU assets was $280 million and $155 million as of December 31, 2020 and 2019, respectively.

Depreciation expense for the years ended December 31, 2020, 2019, and 2018 was $1.6 billion, $1.5 billion, and $1.4 billion, respectively.