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Property, Plant and Equipment (Tables) | 12 Months Ended
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Dec. 31, 2020
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Depreciation is computed using the straight-line method over management’s estimated useful lives of the related assets. The estimated useful lives are as follows:
| Years
Buildings and building improvements | 15-40
Pipelines, tanks and terminals | 15-40
Asset retirement obligation assets | 15-50
Other equipment | 3-15
Property, plant and equipment, at cost, consist of the following (in thousands):
| December 31,
| 2020 |  | 2019
Land | $ | 14,533 |  |  | $ | 4,458 |
Building and building improvements | 2,742 |  |  | 1,853 |
Pipelines, tanks and terminals | 606,116 |  |  | 427,287 |
Asset retirement obligation assets | 2,073 |  |  | 2,073 |
Other equipment | 30,803 |  |  | 16,634 |
Construction in process | 36,015 |  |  | 9,020 |
Property, plant and equipment | 692,282 |  |  | 461,325 |
Less: accumulated depreciation | (227,470) |  |  | (166,281) |
Property, plant and equipment, net | $ | 464,812 |  |  | $ | 295,044 |
Property, plant and equipment, accumulated depreciation and depreciation expense by reporting segment as of and for the years ended December 31, 2020 and 2019 are as follows (in thousands):
| As of and For the Year Ended December 31, 2020
| Pipelines and Transportation |  | Wholesale Marketing and Terminalling |  | Consolidated
Property, plant and equipment | $ | 580,631 |  |  | $ | 111,651 |  |  | $ | 692,282 |
Less: accumulated depreciation | (176,020) |  |  | (51,450) |  |  | (227,470) |
Property, plant and equipment, net | $ | 404,611 |  |  | $ | 60,201 |  |  | $ | 464,812 |
Depreciation expense | $ | 27,682 |  |  | $ | 8,049 |  |  | $ | 35,731 |
| As of and For the Year Ended December 31, 2019
| Pipelines and Transportation |  | Wholesale Marketing and Terminalling |  | Consolidated
Property, plant and equipment | $ | 354,429 |  |  | $ | 106,896 |  |  | $ | 461,325 |
Less: Accumulated depreciation | (125,771) |  |  | (40,510) |  |  | (166,281) |
Property, plant and equipment, net | $ | 228,658 |  |  | $ | 66,386 |  |  | $ | 295,044 |
Depreciation expense | $ | 20,803 |  |  | $ | 5,898 |  |  | $ | 26,701 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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