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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment by Property Type | The following table sets forth our property, plant and equipment by property type, as of the dates indicated:
|  | Estimated Useful Lives (Years) |  | December 31, 2023 |  | December 31, 2022 |  |
|  |  |  | (Millions of dollars)
Gathering pipelines and related equipment |  | 5 to 40 |  | $ | 5,077 |  |  | $ | 4,667 |  |  |
Processing and fractionation and related equipment |  | 3 to 40 |  | 8,591 |  |  | 5,310 |  |  |
Storage and related equipment |  | 3 to 54 |  | 3,330 |  |  | 906 |  |  |
Transmission pipelines and related equipment |  | 5 to 87 |  | 18,551 |  |  | 11,327 |  |  |
General plant and other |  | 2 to 60 |  | 1,002 |  |  | 806 |  |  |
Land |  | — |  | 375 |  |  | 160 |  |  |
Construction work in process |  | — |  | 1,528 |  |  | 1,839 |  |  |
Property, plant and equipment |  |  |  | 38,454 |  |  | 25,015 |  |  |
Accumulated depreciation and amortization |  |  |  | (5,757) |  |  | (5,063) |  |  |
Net property, plant and equipment |  |  |  | $ | 32,697 |  |  | $ | 19,952 |  |  |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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