Property, Plant and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]


7.	PROPERTY, PLANT AND EQUIPMENT

Major classes of property, plant and equipment, which include capital lease assets, consisted of the following (in millions):



	December 31,
	2012			2011
Land	$	802		$	722
Crude oil processing facilities	24,865			23,322
Pipeline and terminal facilities	1,471			856
Grain processing equipment	694			673
Retail facilities	1,480			1,346
Administrative buildings	734			712
Other	1,457			1,290
Construction in progress	2,629			3,332
Property, plant and equipment, at cost	34,132			32,253
Accumulated depreciation	(7,832		)	(7,076		)
Property, plant and equipment, net	$	26,300		$	25,177

We have miscellaneous assets under capital leases that primarily support our refining operations totaling $83 million and $77 million as of December 31, 2012 and 2011, respectively. Accumulated amortization on assets under capital leases was $35 million and $26 million, respectively, as of December 31, 2012 and 2011.

Depreciation expense for the years ended December 31, 2012, 2011, and 2010 was $1.1 billion, $1.1 billion, and $985 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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