Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]


8.	PROPERTY, PLANT, AND EQUIPMENT

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



	December 31,
	2014			2013
Land	$	396		$	404
Crude oil processing facilities	28,054			27,260
Pipeline and terminal facilities	1,955			1,513
Grain processing equipment	779			719
Administrative buildings	800			800
Other	2,596			2,109
Construction in progress	1,353			1,128
Property, plant, and equipment, at cost	35,933			33,933
Accumulated depreciation	(9,198		)	(8,226		)
Property, plant, and equipment, net	$	26,735		$	25,707

We have various assets under capital leases that primarily support our refining operations totaling $72 million and $74 million as of December 31, 2014 and 2013, respectively. Accumulated amortization on assets under capital leases was $40 million and $35 million as of December 31, 2014 and 2013, respectively.

Depreciation expense for the years ended December 31, 2014, 2013, and 2012 was $1.2 billion, $1.2 billion, and $1.1 billion, respectively.

- 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.

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