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Fixed Assets, Mineral Leaseholds, and Asset Retirement Obligations
 3 Months Ended
Mar. 31, 2024
Fixed Assets And Asset Retirement Obligations [Abstract]  
Fixed Assets, Mineral Leaseholds, and Asset Retirement Obligations Fixed Assets, Mineral Leaseholds and Asset Retirement Obligations
Fixed Assets
Fixed assets consisted of the following: 
March 31, 2024December 31, 2023
Crude oil and natural gas pipelines and related assets$2,950,573 $2,945,215 
Alkali facilities, machinery and equipment1,150,287 1,147,291 
Onshore facilities, machinery and equipment288,704 271,271 
Transportation equipment26,673 24,913 
Marine vessels1,023,993 1,021,080 
Land, buildings and improvements294,852 293,733 
Office equipment, furniture and fixtures25,227 25,029 
Construction in progress(1)
792,032 731,197 
Other29,311 41,168 
Fixed assets, at cost6,581,652 6,500,897 
Less: Accumulated depreciation(2,034,076)(1,972,596)
Net fixed assets$4,547,576 $4,528,301 
(1)Construction in progress primarily relates to our ongoing offshore growth capital projects, which are expected to be completed in 2024 and 2025, and represents 100% of the costs incurred, including those funded by our noncontrolling interest holder.
Mineral Leaseholds
Our Mineral Leaseholds, relating to our Alkali Business, consist of the following:
March 31, 2024December 31, 2023
Mineral leaseholds$566,019 $566,019 
Less: Accumulated depletion(26,645)(25,499)
Mineral leaseholds, net of accumulated depletion$539,374 $540,520 

Our depreciation and depletion expense for the periods presented were as follows:
Three Months Ended
March 31,
20242023
Depreciation expense$69,685 $69,573 
Depletion expense1,146 881 
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, 2023:
ARO liability balance, December 31, 2023
$243,708 
Accretion expense2,777 
Settlements(60)
ARO liability balance, March 31, 2024
$246,425 
At March 31, 2024 and December 31, 2023, $26.1 million is included as current in “Accrued liabilities” on our Unaudited Condensed Consolidated Balance Sheets. The remainder of the ARO liability as of March 31, 2024 and December 31, 2023 is included in “Other long-term liabilities” on our Unaudited Condensed Consolidated Balance Sheets.
Certain of our unconsolidated affiliates have AROs recorded at March 31, 2024 and December 31, 2023 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 Unaudited Condensed Consolidated Financial Statements.