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Fixed Assets and Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2021
Fixed Assets And Asset Retirement Obligations [Abstract] |
Fixed Assets and Asset Retirement Obligations | Fixed Assets, Mineral Leaseholds and Asset Retirement Obligations Fixed Assets Fixed assets consisted of the following:
| December 31,
| 2021 |  | 2020
Crude oil and natural gas pipelines and related assets | $ | 2,839,443 |  |  | $ | 2,811,030 |
Alkali facilities, machinery, and equipment | 670,880 |  |  | 622,598 |
Onshore facilities, machinery, and equipment | 269,245 |  |  | 267,810 |
Transportation equipment | 21,106 |  |  | 19,470 |
Marine vessels | 1,018,284 |  |  | 998,553 |
Land, buildings and improvements | 227,540 |  |  | 219,382 |
Office equipment, furniture and fixtures | 23,965 |  |  | 22,001 |
Construction in progress | 350,137 |  |  | 170,740 |
Other | 43,440 |  |  | 41,891 |
Fixed assets, at cost | 5,464,040 |  |  | 5,173,475 |
Less: Accumulated depreciation | (1,551,855) |  |  | (1,322,141) |
Net fixed assets | $ | 3,912,185 |  |  | $ | 3,851,334 |
Mineral Leaseholds Our Mineral Leaseholds, relating to our Alkali Business, consist of the following:
| December 31, 2021 |  | December 31, 2020
Mineral leaseholds | $ | 566,019 |  |  | $ | 566,019 |
Less: Accumulated depletion | (17,014) |  |  | (13,444) |
Mineral leaseholds, net | $ | 549,005 |  |  | $ | 552,575 |
Depreciation expense was $295.4 million, $276.4 million and $295.6 million for the years ended December 31, 2021, 2020, and 2019, respectively. Depletion expense was $3.6 million, $3.2 million, and $4.7 million for the years ended December 31, 2021, 2020 and 2019, respectively. Asset Sales and Divestitures On October 30, 2020, we reached an agreement with a subsidiary of Denbury Inc. to transfer to it the ownership of our remaining CO 2 assets, including the NEJD and Free State pipelines, included within our onshore facilities and transportation segment. As a part of the agreement, we received total consideration of $92.5 million, of which $22.5 million was paid in the fourth quarter of 2020 upon execution of the agreements, and the remaining $70.0 million was paid in equal installments in each quarter during 2021. We recorded a loss of $22.0 million, which represents the difference between the proceeds and the net book value of the assets transferred, and is recorded within “Loss on sale of assets” on the Consolidated Statement of Operations for the year ended December 31, 2020. Impairment Expense 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. Due to these factors, we identified a triggering event that required us to perform an impairment test. For our recoverability test, we utilized management's estimates, including current contractual commitments, for our future cash inflows, and our costs and expenses were determined based on the estimated fixed and variable requirements to operate and maintain the related assets. As our rail logistics asset groups did not pass the initial recoverability assessment, we subsequently performed a fair value calculation using a discounted cash flow model under the income approach. As a result of this test, we recognized impairment expense of $277.5 million as of December 31, 2020 associated with the rail logistics assets in our onshore facilities and transportation segment, as the carrying value of our assets exceeded the estimated realizable value. The impairment expense included $272.7 million of net fixed assets and $4.8 million of right of use assets, net on the Consolidated Balance Sheets. The fair value estimates used in the long-lived asset test 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 third quarter of 2020 primarily associated with the full write-down of a non-core gas platform in our offshore transportation segment due to it not having a future use for our operations. Asset Retirement Obligations We record AROs in connection with legal requirements to perform specified retirement activities under contractual arrangements and/or governmental regulations. For any AROs acquired, we record AROs based on the fair value measurement assigned during the preliminary purchase price allocation. A reconciliation of our liability for asset retirement obligations is as follows:
December 31, 2019 | $ | 175,081 |
Accretion expense | 9,131 |
Revisions in timing and estimated costs of AROs | 5,792 |
Settlements | (13,152) |
December 31, 2020 | 176,852 |
Accretion expense | 10,038 |
Revisions in timing and estimated costs of AROs | 35,735 |
Acquisitions | 3,008 |
Settlements | (4,727) |
December 31, 2021 | $ | 220,906 |
At December 31, 2021 and December 31, 2020, $36.3 million and $14.7 million are included as current in “Accrued liabilities” on our Consolidated Balance Sheets, respectively. The remainder of the ARO liability at each period is included in “Other long-term liabilities” on our Consolidated Balance Sheets. Revisions in timing and estimated costs during 2021 and 2020 are primarily attributable to the accelerated timing and revised costs associated with the abandonment of certain of our non-core offshore gas assets in the Gulf of Mexico. Such revisions take into account several factors, including changes to legal or regulatory requirements, changes in our estimated useful lives of the associated asset, and the timing and method of abandonment. As there are significant judgements involved in deriving our estimates, actual costs, including the scope of work once it is approved by the relative regulatory agency or contracted party, may differ from our estimates. With respect to our AROs, the following table presents our forecast of accretion expense for the periods indicated:
2022 | $ | 12,648 |
2023 | $ | 10,583 |
2024 | $ | 9,767 |
2025 | $ | 10,469 |
2026 | $ | 8,216 |
Certain of our unconsolidated affiliates have AROs recorded at December 31, 2021 and 2020 relating to contractual agreements and regulatory requirements. In addition, certain entities that we consolidate have non-controlling interest owners that are responsible for their representative share of future costs of the related ARO liability. These amounts are immaterial to our Consolidated Financial Statements.

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