Property and Equipment

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Note 4. Property and Equipment

The Predecessor’s property and equipment consist of the following, in thousands:


	As of						Estimated Useful Lives (Years)
	September 30, 2014			December 31, 2013			Estimated Useful Lives (Years)

Land	$	5,994		$	6,148		N/A
Trackage and facilities		81,025			8,007		20
Equipment		5,814			488		5-10
Furniture		53			5		5

Total property and equipment		92,886			14,648
Accumulated depreciation		(3,120	)		(1,803	)
Construction in progress		501			48,519


Property and equipment, net	$	90,267		$	61,364

The cost of property and equipment classified as “Construction in progress” pertains to our Hardisty terminal and is excluded from costs being depreciated. These amounts represent property that is not yet available to be placed into productive service as of the respective balance sheet dates. A majority of the property and equipment at our Hardisty terminal was placed into service on June 30, 2014.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details