Energy Transfer 2013 Annual Report Download - page 164
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Table of Contents
Components and useful lives of property, plant and equipment were as follows:
December 31,
2013
2012
Land and improvements $ 878
$551
Buildings and improvements (5 to 45 years) 900
673
Pipelines and equipment (5 to 83 years) 16,966
17,031
Natural gas and NGL storage facilities (5 to 46 years) 1,083
1,057
Bulk storage, equipment and facilities (2 to 83 years) 1,933
1,745
Tanks and other equipment (5 to 40 years) 1,685
1,187
Retail equipment (3 to 99 years) 450
258
Vehicles (1 to 25 years) 124
135
Right of way (20 to 83 years) 1,901
2,042
Furniture and fixtures (2 to 25 years) 48
65
Linepack 116
116
Pad gas 52
58
Other (1 to 48 years) 626
806
Construction work-in-process 1,668
1,688
28,430
27,412
Less – Accumulated depreciation (2,483)
(1,639)
Property, plant and equipment, net $25,947
$25,773
We recognized the following amounts of depreciation expense for the periods presented:
Years Ended December 31,
2013
2012
2011
Depreciation expense(1) $944
$615
$380
Capitalized interest, excluding AFUDC $43
$99
$11
(1) Depreciation expense amounts have been adjusted by $26 million for the year ended December 31, 2011 to present Canyon’s operations as
discontinued operations.
Advances to and Investments in Unconsolidated Affiliates
We own interests in a number of related businesses that are accounted for by the equity method. In general, we use the equity method of accounting for an
investment for which we exercise significant influence over, but do not control, the investee’s operating and financial policies.
Goodwill
Goodwill is tested for impairment annually or more frequently if circumstances indicate that goodwill might be impaired. Our annual impairment test is
performed as of August 31 for subsidiaries in our intrastate transportation and storage and midstream segments and during the fourth quarter for
subsidiaries in our interstate transportation and storage, NGL transportation and services, and retail marketing segments and all others. We recorded
goodwill impairments for the periods presented in these consolidated financial statements.
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