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PROPERTY, PLANT AND EQUIPMENT (Notes) | 12 Months Ended
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Dec. 31, 2020
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT The following table sets forth our property, plant and equipment by property type, for the periods indicated:
|  | Estimated Useful Lives (Years) |  | December 31, 2020 |  | December 31, 2019
|  |  |  | (Thousands of dollars)
Nonregulated |  |  |  |  |  |
Gathering pipelines and related equipment |  | 5 to 40 |  | $ | 4,143,752 |  |  | $ | 4,316,936 |
Processing and fractionation and related equipment |  | 3 to 40 |  | 5,084,802 |  |  | 4,439,332 |
Storage and related equipment |  | 3 to 54 |  | 798,785 |  |  | 684,635 |
Transmission pipelines and related equipment |  | 5 to 54 |  | 810,434 |  |  | 797,678 |
General plant and other |  | 2 to 60 |  | 647,675 |  |  | 610,013 |
Construction work in process |  | — |  | 1,265,736 |  |  | 1,645,663 |
Regulated |  |  |  |  |  |
Storage and related equipment |  | 5 to 25 |  | 9,180 |  |  | 9,180 |
Natural gas transmission pipelines and related equipment |  | 5 to 77 |  | 1,569,268 |  |  | 1,552,546 |
NGL transmission pipelines and related equipment |  | 5 to 88 |  | 8,423,544 |  |  | 6,126,056 |
General plant and other |  | 2 to 50 |  | 72,535 |  |  | 66,507 |
Construction work in process |  | — |  | 247,224 |  |  | 1,802,946 |
Property, plant and equipment |  |  |  | 23,072,935 |  |  | 22,051,492 |
Accumulated depreciation and amortization - nonregulated |  |  |  | (2,514,328) |  |  | (2,471,649) |
Accumulated depreciation and amortization - regulated |  |  |  | (1,403,679) |  |  | (1,231,158) |
Net property, plant and equipment |  |  |  | $ | 19,154,928 |  |  | $ | 18,348,685 |
The average depreciation rates for our regulated property are set forth, by segment, in the following table for the periods indicated:
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Natural Gas Liquids |  | 2.2% |  | 2.0% |  | 1.9%
Natural Gas Pipelines |  | 2.1% |  | 2.1% |  | 2.1%
We incurred costs for construction work in process that had not been paid at December 31, 2020, 2019 and 2018, of $151.7 million, $544.8 million and $388.3 million, respectively. Such amounts are not included in capital expenditures (less AFUDC and capitalized interest) on the Consolidated Statements of Cash Flows. Impairment Charges - In 2020, we evaluated our Natural Gas Gathering and Processing segment asset groups and determined that the carrying value of certain long-lived asset groups in the Powder River Basin, western Oklahoma and Kansas were not recoverable and exceeded their estimated fair value. As a result, we recorded noncash impairment charges of $362.3 million, which includes a natural gas processing plant and infrastructure in the Powder River Basin and its related supply contracts and natural gas processing plants and infrastructure in western Oklahoma and Kansas. In our Natural Gas Liquids segment, we recorded noncash impairment charges of $71.6 million related primarily to certain inactive assets, as our expectation for future use of the assets changed. These charges are included within impairment charges in our Consolidated Statement of Income for the year ended December 31, 2020. For additional information on our impairment charges, see Note A.

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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