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Property, Plant and Equipment | 3 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Our property, plant and equipment consists of the following at the dates indicated:
Description |  | Estimated Useful Lives |  | June 30, 2025 |  | March 31, 2025
|  | (in years) |  | (in thousands)
Water treatment facilities and equipment (1) |  | 3 | - | 30 |  | $ | 2,261,118 |  |  | $ | 2,240,919 |
Pipeline and related facilities |  | 30 | - | 40 |  | 266,324 |  |  | 266,324 |
Crude oil tanks and related equipment |  | 2 | - | 30 |  | 230,719 |  |  | 230,174 |
Buildings and leasehold improvements |  | 3 | - | 40 |  | 124,900 |  |  | 124,388 |
Natural gas liquids terminal and storage assets |  | 2 | - | 30 |  | 100,120 |  |  | 99,805 |
Land |  |  |  |  |  | 64,600 |  |  | 64,733 |
Information technology equipment |  | 3 | - | 7 |  | 31,028 |  |  | 31,319 |
Tank bottoms and linefill (2) |  |  |  |  |  | 30,623 |  |  | 30,623 |
Vehicles and railcars |  | 3 | - | 25 |  | 22,830 |  |  | 33,629 |
Other |  | 3 | - | 20 |  | 19,139 |  |  | 19,161 |
Construction in progress |  |  |  |  |  | 29,270 |  |  | 30,354 |
Gross property, plant and equipment |  |  |  |  |  | 3,180,671 |  |  | 3,171,429 |
Accumulated depreciation |  |  |  |  |  | (1,144,479) |  |  | (1,104,582) |
Net property, plant and equipment |  |  |  |  |  | $ | 2,036,192 |  |  | $ | 2,066,847 |
(1) Includes finance lease right-of-use assets of $5.8 million and $0.1 million at June 30, 2025 and March 31, 2025, respectively. Accumulated amortization related to these finance leases is included within accumulated depreciation. (2) Tank bottoms, which are product volumes required for the operation of storage tanks, are recorded at historical cost. We recover tank bottoms when the storage tanks are removed from service. Linefill, which represents our portion of the product volume required for the operation of the proportionate share of a pipeline we own, is recorded at historical cost. Amounts in the table above do not include assets classified as either held for sale or discontinued operations within our June 30, 2025 and March 31, 2025 unaudited condensed consolidated balance sheets (see Note 16). The following table summarizes depreciation expense and capitalized interest expense for the periods indicated:
|  | Three Months Ended June 30, |  |
|  | 2025 |  | 2024 |  |  |  |
|  | (in thousands)
Depreciation expense |  | $ | 53,417 |  |  | $ | 47,919 |  |  |  |  |
Capitalized interest expense |  | $ | 84 |  |  | $ | 543 |  |  |  |  |
We record (gains) losses from the sales of property, plant and equipment and any write-downs in value due to impairment within gain on disposal or impairment of assets, net in our unaudited condensed consolidated statements of operations. The following table summarizes (gains) losses on the disposal or impairment of property, plant and equipment by segment for the period indicated:
|  | Three Months Ended June 30, 2025 |  |
|  | (in thousands)
Water Solutions (1) |  | $ | 1,494 |  |  |
Crude Oil Logistics (2) |  | (3) |  |  |
Liquids Logistics (3) |  | (13) |  |  |
Corporate and Other |  | (1) |  |  |
Total |  | $ | 1,477 |  |  |
(1) Amount does not include the loss recognized on the sale of certain investments in unconsolidated entities and related assets during the three months ended June 30, 2025 discussed in Note 15. (2) Amount does not include the gain recognized on the sale of certain railcars during the three months ended June 30, 2025 discussed in Note 15. (3) Amount does not include the gains recognized on the Wholesale Propane Disposition and the sale of our refined products business during the three months ended June 30, 2025 discussed in Note 15.

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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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