GENESIS ENERGY LP
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
7. Fixed Assets and Asset Retirement Obligations
- Fixed Assets and Asset Retirement Obligations
Fixed Assets
Fixed assets consisted of the following:
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Crude oil and natural gas pipelines and related assets | $3,825,345 | $3,367,908 |
| Onshore facilities, machinery and equipment | 291,797 | 293,436 |
| Transportation equipment | 24,185 | 22,976 |
| Marine vessels | 1,064,148 | 1,062,720 |
| Land, buildings and improvements | 88,579 | 88,545 |
| Office equipment, furniture and fixtures | 10,441 | 10,101 |
| Construction in progress | 27,463 | 408,509 |
| Other | 26,665 | 26,665 |
| Fixed assets, at cost | 5,358,623 | 5,280,860 |
| Less: Accumulated depreciation | (1,858,430) | (1,740,974) |
| Net fixed assets | $3,500,193 | $3,539,886 |
Our depreciation expense for the periods presented was as follows:
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Depreciation expense | $54,486 | $52,643 | $161,433 | $148,290 |
Asset Retirement Obligations
We record asset retirement obligations (“AROs”) in connection with legal requirements to perform specified retirement activities under contractual arrangements and/or governmental regulations.
The following table presents information regarding our AROs since December 31, 2024:
| ARO liability balance, December 31, 2024 | $254,054 |
|---|---|
| Accretion expense | 8,624 |
| Revisions in timing and estimated costs of AROs | (705) |
| Liabilities incurred | 954 |
| Settlements | (2,132) |
| ARO liability balance, September 30, 2025 | $260,795 |
At September 30, 2025 and December 31, 2024, $25.8 million is included as current in “Accrued liabilities” on our Unaudited Condensed Consolidated Balance Sheets. The remainder of the ARO liability as of September 30, 2025 and December 31, 2024 is included in “Other long-term liabilities” on our Unaudited Condensed Consolidated Balance Sheets.
Certain of our unconsolidated affiliates have AROs recorded at September 30, 2025 and December 31, 2024 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. These amounts are immaterial to our Unaudited Condensed Consolidated Financial Statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.