Energy Transfer 2010 Annual Report Download - page 142
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Components and useful lives of property, plant and equipment were as follows:
December 31,
2010 2009
Land and improvements $ 102,353 $ 87,224
Buildings and improvements (10 to 40 years) 189,210 156,676
Pipelines and equipment (10 to 83 years) 7,897,828 6,933,189
Natural gas storage (40 years) 100,909 100,746
Bulk storage, equipment and facilities (3 to 83 years) 736,520 591,908
Tanks and other equipment (10 to 30 years) 623,126 602,915
Vehicles (3 to 20 years) 197,323 176,946
Right of way (20 to 83 years) 612,374 509,173
Furniture and fixtures (3 to 10 years) 40,447 32,810
Linepack 54,156 53,404
Pad gas 57,907 47,363
Other (5 to 10 years) 136,775 117,896
10,748,928 9,410,250
Less – Accumulated depreciation (1,286,099) (979,158)
9,462,829 8,431,092
Plus – Construction work-in-process 338,540 239,155
Property, plant and equipment, net $ 9,801,369 $8,670,247
We recognized the following amounts of depreciation expense for the periods presented:
Years Ended December 31,
2010 2009 2008
Depreciation expense $ 322,406 $ 291,908 $ 244,689
Capitalized interest, excluding AFUDC $ 2,646 $ 11,791 $ 21,595
Advances to and Investment in Affiliates
We own interests in a number of related businesses that are accounted for using the equity method. In
general, we use the equity method of accounting for an investment in which we have a 20% to 50%
ownership and exercise significant influence over, but do not control the investee’s operating and financial
policies.
We account for our investment in Fayetteville Express Pipeline LLC (“FEP”) using the equity method. See
Note 4 for a discussion of this joint venture.
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, midstream and retail propane segments and as of December 31 for subsidiaries in
our interstate segment and all others. No goodwill impairments were recorded for the periods presented in
these consolidated financial statements.
F-16