MPLX LP
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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13. Property, Plant and Equipment
- Property, Plant and Equipment
Property, plant and equipment with associated accumulated depreciation is shown below:
| EstimatedUseful Lives · December 31, | |||
|---|---|---|---|
| (In millions) · 2024 · 2023 | |||
| Crude Oil and Products Logistics | |||
| Pipelines | 15 - 50 years | $6,627 | $6,455 |
| Refining logistics | 15 - 20 years | 1,867 | 1,818 |
| Terminals | 15 - 40 years | 1,726 | 1,651 |
| Marine | 15 - 20 years | 1,149 | 1,100 |
| Land, building and other | 5 - 60 years | 1,619 | 1,609 |
| Construction-in-progress | 201 | 146 | |
| Total Crude Oil and Products Logistics property, plant and equipment | 13,189 | 12,779 | |
| Natural Gas and NGL Services | |||
| Gathering and transportation | 5 - 40 years | 7,789 | 7,484 |
| Processing and fractionation | 10 - 40 years | 6,611 | 6,203 |
| Land, building and other | 5 - 40 years | 541 | 525 |
| Construction-in-progress | 274 | 394 | |
| Total Natural Gas and NGL Services property, plant and equipment | 15,215 | 14,606 | |
| Total property, plant and equipment | 28,404 | 27,385 | |
| Less accumulated depreciation | 9,250 | 8,121 | |
| Property, plant and equipment, net | $19,154 | $19,264 | |
We capitalize interest as part of the cost of major projects during the construction period. Capitalized interest totaled $19 million, $15 million and $9 million for the years ended December 31, 2024, 2023 and 2022, respectively.
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