Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure

PROPERTY, PLANT AND EQUIPMENT

The following table sets forth our property, plant and equipment by property type, for the periods indicated:

	December 31,		December 31,
	2023		2022
	(Thousands of dollars)
Natural gas distribution pipelines and related equipment	$	6,716,074	$	6,240,236
Natural gas transmission pipelines and related equipment	713,505		661,379
General plant and other	907,946		782,870
Construction work in process	131,442		150,072
Property, plant and equipment	8,468,967		7,834,557
Accumulated depreciation and amortization	(2,333,755)		(2,205,717)
Net property, plant and equipment	$	6,135,212	$	5,628,840

We compute depreciation expense by applying composite, straight-line rates of approximately 2.5 percent to 3.5 percent as approved by various regulatory authorities.

We recorded capitalized interest of $5.7 million, $4.5 million and $4.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. We incurred liabilities for construction work in process that had not been paid at December 31, 2023, 2022 and 2021 of $36.2 million, $28.6 million and $25.6 million, respectively. Such amounts are not included in capital expenditures or in the change of working capital items on our consolidated statements of cash flows.