Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment and Accumulated Depreciation

The historical costs of our property, plant and equipment and related accumulated depreciation balances were as follows at the dates indicated:

	Estimated Useful Life in Years	March 31, 2012		December 31, 2011
Plants, pipelines and facilities (1)	3-45 (6)	$	22,567.2	$	22,354.4
Underground and other storage facilities (2)	5-40 (7)		1,416.0		1,388.6
Platforms and facilities (3)	20-31		637.5		637.5
Transportation equipment (4)	3-10		153.1		151.5
Marine vessels (5)	15-30		633.5		615.9
Land			141.3		136.1
Construction in progress			2,810.8		2,145.6
Total			28,359.4		27,429.6
Less accumulated depreciation			5,449.1		5,238.0
Property, plant and equipment, net		$	22,910.3	$	22,191.6
(1)   Plants and pipelines include processing plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; office furniture and equipment; buildings; laboratory and shop equipment and related assets. (2)   Underground and other storage facilities include underground product storage caverns; above ground storage tanks; water wells and related assets. (3)   Platforms and facilities include offshore platforms and related facilities and other associated assets located in the Gulf of Mexico. (4)   Transportation equipment includes tractor-trailer tank trucks and other vehicles and similar assets used in our operations. (5)   Marine vessels include tow boats, barges and related equipment used in our marine transportation business. (6)   In general, the estimated useful lives of major assets within this category are: processing plants, 20-35 years; pipelines and related equipment, 5-45 years; terminal facilities, 10-35 years; office furniture and equipment, 3-20 years; buildings, 20-40 years; and laboratory and shop equipment, 5-35 years. (7)   In general, the estimated useful lives of assets within this category are: underground storage facilities, 5-35 years; storage tanks, 10-40 years; and water wells, 5-35 years.

Depreciation Expense and Capitalized Interest

The following table summarizes our depreciation expense and capitalized interest amounts for the periods presented:

	For the Three Months
	Ended March 31,
	2012		2011
Depreciation expense (1)	$	212.0	$	186.5
Capitalized interest (2)		30.6		17.2
(1)   Depreciation expense is a component of “Costs and expenses” as presented on our Unaudited Condensed Statements of Consolidated Operations. (2)   Capitalized interest reduces interest expense during the period it is recorded and increases the carrying value of the associated asset, which will subsequently increase depreciation expense once the asset is placed in service.

AROs

The following table presents information regarding our AROs since December 31, 2011:

ARO liability balance, December 31, 2011	$	112.0
Liabilities incurred during period		0.8
Liabilities settled during period		(1.6	)
Revisions in estimated cash flows		3.4
Accretion expense		1.4
ARO liability balance, March 31, 2012	$	116.0

Forecasted Accretion Expense Associated with AROs

The following table presents our accretion expense forecasts for AROs for the periods presented:

Remainder of 2012		2013		2014		2015		2016
$	4.0	$	5.6	$	6.0	$	5.8	$	6.1