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v3.25.4

Property, Plant and Equipment, net | 12 Months Ended
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Dec. 31, 2025
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment, net | Property, Plant and Equipment, net Components and useful lives of property, plant and equipment, net consisted of the following:
| December 31, 2025 |  | December 31, 2024
Land and improvements | $ | 2,081 |  |  | $ | 739 |
Buildings, equipment and leasehold improveme nts (1 to 40 years) | 4,695 |  |  | 1,315 |
Pipel ines (5 to 65 years) | 3,747 |  |  | 3,553 |
Product storage and related faciliti es (2 to 40 years) | 1,400 |  |  | 891 |
Right of w ay (20 to 65 years) | 1,728 |  |  | 1,727 |
Oth er (1 to 48 years) | 727 |  |  | 403 |
Construction work-in-process | 878 |  |  | 286 |
Total property, plant and equipment | 15,256 |  |  | 8,914 |
Less – Accumulated depreciation | 1,848 |  |  | 1,240 |
Property, plant and equipment, net | $ | 13,408 |  |  | $ | 7,674 |
Depreciation expense on property, plant and equipment was $638 million, $326 million and $139 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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