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Property, plant and equipment (Tables) | 12 Months Ended
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Dec. 31, 2022
Property, plant and equipment [abstract] |
Schedule of property, plant and equipment |
| Owned Assets (a) | Right-of-use assets (b) | Total
Net book value at December 31, 2022 | $ | 3,398,805 |  | $ | 756,478 |  | $ | 4,155,283 |
Net book value at December 31, 2021 | $ | 3,075,198 |  | $ | 610,951 |  | $ | 3,686,149 |
| Buildings, plant installations and machinery | Plants Under Construction 1 | Ocean-going vessels | Other |  | TOTAL
Cost at January 1, 2022 | $ | 4,908,492 |  | $ | 561,860 |  | $ | 240,525 |  | $ | 138,378 |  |  | $ | 5,849,255 |
Additions | 140,326 |  | 440,028 |  | 342 |  | 1,703 |  |  | 582,399 |
Disposals and other | (47,819) |  | — |  | — |  | — |  |  | (47,819) |
Cost at December 31, 2022 | 5,000,999 |  | 1,001,888 |  | 240,867 |  | 140,081 |  |  | 6,383,835 |
Accumulated depreciation at January 1, 2022 | 2,631,268 |  | — |  | 37,271 |  | 105,518 |  |  | 2,774,057 |
Depreciation | 248,032 |  | — |  | 12,039 |  | 2,332 |  |  | 262,403 |
Disposals and other | (51,430) |  | — |  | — |  | — |  |  | (51,430) |
Accumulated depreciation at December 31, 2022 | 2,827,870 |  | — |  | 49,310 |  | 107,850 |  |  | 2,985,030 |
Net book value at December 31, 2022 | $ | 2,173,129 |  | $ | 1,001,888 |  | $ | 191,557 |  | $ | 32,231 |  |  | $ | 3,398,805 |
1 The Company is constructing a 1.8 million tonne methanol plant in Geismar, Louisiana adjacent to its Geismar 1 and Geismar 2 facilities. Included in cost of Plants Under Construction are $94 million (2021: $54 million) of capitalized interest and finance charges.
| Buildings, plant installations and machinery | Plants under construction | Ocean-going vessels | Other |  | TOTAL
Cost at January 1, 2021 | $ | 4,861,912 |  | $ | 386,905 |  | $ | 210,099 |  | $ | 155,882 |  |  | $ | 5,614,798 |
Additions | 66,802 |  | 174,955 |  | 30,426 |  | 849 |  |  | 273,032 |
Disposals and other | (20,222) |  | — |  | — |  | (18,353) |  |  | (38,575) |
Cost at December 31, 2021 | 4,908,492 |  | 561,860 |  | 240,525 |  | 138,378 |  |  | 5,849,255 |
Accumulated depreciation at January 1, 2021 | 2,413,176 |  | — |  | 27,926 |  | 121,636 |  |  | 2,562,738 |
Depreciation | 238,314 |  | — |  | 9,345 |  | 2,235 |  |  | 249,894 |
Disposals and other | (20,222) |  | — |  | — |  | (18,353) |  |  | (38,575) |
Accumulated depreciation at December 31, 2021 | 2,631,268 |  | — |  | 37,271 |  | 105,518 |  |  | 2,774,057 |
Net book value at December 31, 2021 | $ | 2,277,224 |  | $ | 561,860 |  | $ | 203,254 |  | $ | 32,860 |  |  | $ | 3,075,198 |
Schedule of right-of-use assets |
| Ocean-going vessels | Terminals and tanks | Plant installations and machinery | Other |  | TOTAL
Cost at January 1, 2022 | $ | 657,774 |  | $ | 258,743 |  | $ | 23,797 |  | $ | 40,903 |  |  | $ | 981,217 |
Additions | 232,536 |  | 27,293 |  | — |  | 4,001 |  |  | 263,830 |
Disposals and other | (43,333) |  | — |  | — |  | — |  |  | (43,333) |
Cost at December 31, 2022 | 846,977 |  | 286,036 |  | 23,797 |  | 44,904 |  |  | 1,201,714 |
Accumulated depreciation at January 1, 2022 | 214,004 |  | 125,494 |  | 12,850 |  | 17,918 |  |  | 370,266 |
Depreciation | 75,586 |  | 34,669 |  | 2,464 |  | 5,968 |  |  | 118,687 |
Disposals and other | (43,717) |  | — |  | — |  | — |  |  | (43,717) |
Accumulated depreciation at December 31, 2022 | 245,873 |  | 160,163 |  | 15,314 |  | 23,886 |  |  | 445,236 |
Net book value at December 31, 2022 | $ | 601,104 |  | $ | 125,873 |  | $ | 8,483 |  | $ | 21,018 |  |  | $ | 756,478 |
| Ocean-going vessels | Terminals and tanks | Plant installations and machinery | Other |  | TOTAL
Cost at January 1, 2021 | $ | 582,072 |  | $ | 246,553 |  | $ | 23,761 |  | $ | 39,670 |  |  | $ | 892,056 |
Additions | 86,610 |  | 12,206 |  | 36 |  | 1,679 |  |  | 100,531 |
Disposals and other | (10,908) |  | (16) |  | — |  | (446) |  |  | (11,370) |
Cost at December 31, 2021 | 657,774 |  | 258,743 |  | 23,797 |  | 40,903 |  |  | 981,217 |
Accumulated depreciation at January 1, 2021 | 152,616 |  | 91,834 |  | 10,408 |  | 12,202 |  |  | 267,060 |
Depreciation | 71,711 |  | 33,660 |  | 2,442 |  | 5,716 |  |  | 113,529 |
Disposals and other | (10,323) |  | — |  | 0 |  | 0 |  |  | (10,323) |
Accumulated depreciation at December 31, 2021 | 214,004 |  | 125,494 |  | 12,850 |  | 17,918 |  |  | 370,266 |
Net book value at December 31, 2021 | $ | 443,770 |  | $ | 133,249 |  | $ | 10,947 |  | $ | 22,985 |  |  | $ | 610,951 |
Schedule of key assumptions for property plant and equipment | The following table indicates the percentages by which key assumptions would need to change individually for the estimated Titan CGU recoverable value to be equal to the carrying value:
Key Assumptions | Change Required for Carrying Value to Equal Recoverable Value
Long-term average realized price | 18 percent decrease
Production volumes | 27 percent decrease
Gas price | 21 percent increase
Discount rate (after-tax) | 15 percent increase

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