Properties, Plants and Equipment

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Properties, Plants and Equipment

Properties, Plants and Equipment

Our investment in PP&E is recorded at cost. Investments in refining manufacturing facilities are generally depreciated on a straight-line basis over a 25-year life, pipeline assets over a 45-year life and terminal assets over a 33-year life. The company’s investment in PP&E, with the associated accumulated depreciation and amortization (Accum. D&A), at December 31 was:

	Millions of Dollars
	2016				2015
	Gross PP&E		Accum. D&A	Net PP&E	Gross PP&E	Accum. D&A	Net PP&E
Midstream	$	8,179	1,579	6,600	6,978	1,293	5,685
Chemicals	—		—	—	—	—	—
Refining	21,152		8,197	12,955	20,850	8,046	12,804
Marketing and Specialties	1,451		776	675	1,422	746	676
Corporate and Other	1,207		582	625	1,060	504	556
	$	31,989	11,134	20,855	30,310	10,589	19,721