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Fixed Assets, Mineral Leaseholds, and Asset Retirement Obligations (Tables) | 9 Months Ended
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Sep. 30, 2021
Fixed Assets And Asset Retirement Obligations [Abstract] |
Schedule of Fixed Assets | Fixed assets, net consisted of the following:
| September 30, 2021 |  | December 31, 2020
Crude oil and natural gas pipelines and related assets | $ | 2,841,150 |  |  | $ | 2,811,030 |
Alkali facilities, machinery, and equipment | 648,326 |  |  | 622,598 |
Onshore facilities, machinery, and equipment | 269,301 |  |  | 267,810 |
Transportation equipment | 21,422 |  |  | 19,470 |
Marine vessels | 1,015,794 |  |  | 998,553 |
Land, buildings and improvements | 222,215 |  |  | 219,382 |
Office equipment, furniture and fixtures | 22,519 |  |  | 22,001 |
Construction in progress | 301,349 |  |  | 170,740 |
Other | 43,440 |  |  | 41,891 |
Fixed assets, at cost | 5,385,516 |  |  | 5,173,475 |
Less: Accumulated depreciation | (1,494,832) |  |  | (1,322,141) |
Net fixed assets | $ | 3,890,684 |  |  | $ | 3,851,334 |
Schedule of Mineral Leaseholds | Our Mineral Leaseholds, relating to our Alkali Business, consist of the following:
| September 30, 2021 |  | December 31, 2020 |
Mineral leaseholds | $ | 566,019 |  |  | $ | 566,019 |  |
Less: Accumulated depletion | (16,019) |  |  | (13,444) |  |
Mineral leaseholds, net of accumulated depletion | $ | 550,000 |  |  | $ | 552,575 |  |
Schedule of Depreciation and Depletion Expense | Our depreciation and depletion expense for the periods presented was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Depreciation expense | $ | 63,482 |  |  | $ | 62,499 |  |  | $ | 190,332 |  |  | $ | 206,830 |
Depletion expense | 959 |  |  | 604 |  |  | 2,575 |  |  | 2,408 |
During the second quarter of 2020, due to the challenging economic environment from the decline in commodity prices (including the collapse in the differential of Western Canadian Select to the Gulf Coast) and Covid-19, crude-by-rail transportation became uneconomic for producers and the demand and outlook for our rail logistics assets declined. As a result, we recognized impairment expense of $277.5 million associated with the rail logistics assets in our onshore facilities and transportation segment, including $272.7 million of net fixed assets and $4.8 million of right of use assets, net on the Unaudited Condensed Consolidated Balance Sheet. The fair value was calculated utilizing the income approach and assumptions were primarily based on level 3 inputs of the fair value hierarchy. In addition to this, we recognized impairment expense of $3.3 million during the three and nine months ended September 30, 2020 primarily associated with the full write-off of a non-core gas platform in our offshore transportation segment due to it not having a future use for our operations.
Schedule of Change in Asset Retirement Obligation | The following table presents information regarding our AROs since December 31, 2020:
ARO liability balance, December 31, 2020 | $ | 176,852 |
Accretion expense | 7,698 |
Changes in estimate | 97 |
Settlements | (3,933) |
ARO liability balance, September 30, 2021 | $ | 180,714 |
Schedule of Forecast of Accretion Expense of Asset Retirement Obligations | With respect to our AROs, the following table presents our estimate of accretion expense for the periods indicated:
Remainder of | 2021 | $ | 2,390 |
| 2022 | $ | 9,384 |
| 2023 | $ | 9,128 |
| 2024 | $ | 9,783 |
| 2025 | $ | 10,487 |

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