XML 49 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2015
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
  
December 31,
 
 
 
in Years
  
2015
  
2014
 
Plants, pipelines and facilities (1)
 
3-45 (6)
 
 
$
32,525.0
  
$
30,834.9
 
Underground and other storage facilities (2)
 
5-40 (7)
 
  
3,000.5
   
2,584.2
 
Platforms and facilities (3)
 
20-31
   
--
   
659.7
 
Transportation equipment (4)
 
3-10
   
159.9
   
154.2
 
Marine vessels (5)
 
15-30
   
769.8
   
796.4
 
Land
      
262.7
   
262.6
 
Construction in progress
      
3,894.0
   
2,754.7
 
Total
      
40,611.9
   
38,046.7
 
Less accumulated depreciation
      
8,577.2
   
8,165.1
 
Property, plant and equipment, net
     
$
32,034.7
  
$
29,881.6
 
             
(1)  Plants, pipelines and facilities include processing plants; NGL, natural gas, crude oil and petrochemical and refined products pipelines; terminal loading and unloading facilities; buildings; office furniture and equipment; 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 included offshore platforms and related facilities and other associated assets located in the Gulf of Mexico prior to the sale of our Offshore Business.
(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; buildings, 20-40 years; office furniture and equipment, 3-20 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 indicated:

 
 
For the Year Ended December 31,
 
 
 
2015
  
2014
  
2013
 
Depreciation expense (1)
 
$
1,161.6
  
$
1,114.1
  
$
1,012.4
 
Capitalized interest (2)
  
149.1
   
77.9
   
133.0
 
(1)   Depreciation expense is a component of "Costs and expenses" as presented on our Statements of Consolidated Operations.
(2)   Capitalized interest is a component of "Interest expense" as presented on our Statements of Consolidated Operations.
 
AROs
The following table presents information regarding our AROs for the periods indicated:

 
 
For the Year Ended December 31,
 
 
 
2015
  
2014
  
2013
 
ARO liability beginning balance
 
$
98.3
  
$
90.2
  
$
105.2
 
Liabilities incurred
  
2.7
   
0.1
   
1.7
 
Liabilities settled
  
(6.3
)
  
(2.7
)
  
(14.2
)
Revisions in estimated cash flows
  
49.7
   
4.6
   
(8.6
)
Accretion expense
  
5.2
   
6.1
   
6.1
 
AROs related to Offshore Business sold in July 2015
  
(91.1
)
  
--
   
--
 
ARO liability ending balance
 
$
58.5
  
$
98.3
  
$
90.2
 
Forecasted Accretion Expense Associated with AROs
The following table presents our forecast of accretion expense for the periods indicated:

2016
  
2017
  
2018
  
2019
  
2020
$
3.7
  
$
4.0
  
$
4.3
  
$
4.7
  
$
5.0