Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment, Net of Accumulated Depreciation

v3.26.3
Property, Plant and Equipment, Net of Accumulated Depreciation
 9 Months Ended
Sep. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation PROPERTY, PLANT AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION
 
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
September 30, December 31,
2026 2025
Terminal and related assets
Terminal and interconnecting pipeline facilities $ 20,521  $ 20,480 
Construction-in-process 517  214 
Accumulated depreciation (6,011) (5,502)
Total terminal and related assets, net of accumulated depreciation 15,027  15,192 
Assets under finance leases
Tug vessels 75  76 
Accumulated depreciation (20) (14)
Total assets under finance leases, net of accumulated depreciation 55  62 
Other assets
Other assets 26  26 
Accumulated depreciation (21) (21)
Total other assets, net of accumulated depreciation 5  5 
Property, plant and equipment, net of accumulated depreciation $ 15,087  $ 15,259 

Depreciation expense was $173 million and $172 million during the three months ended September 30, 2026 and 2025, respectively, and $518 million and $511 million during the nine months ended September 30, 2026 and 2025, respectively.