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Fixed Assets and Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2024
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,
 20242023
Crude oil and natural gas pipelines and related assets$3,367,908 $2,945,215 
Alkali facilities, machinery, and equipment1,246,786 1,147,291 
Onshore facilities, machinery, and equipment293,436 271,271 
Transportation equipment32,662 24,913 
Marine vessels1,062,720 1,021,080 
Land, buildings and improvements307,713 293,733 
Office equipment, furniture and fixtures26,230 25,029 
Construction in progress(1)
510,335 731,197 
Other26,665 41,168 
Fixed assets, at cost6,874,455 6,500,897 
Less: Accumulated depreciation(2,206,947)(1,972,596)
Net fixed assets$4,667,508 $4,528,301 
(1)Construction in progress primarily relates to our ongoing offshore growth capital projects, which are expected to be completed in the first half of 2025.
Mineral Leaseholds
Our Mineral Leaseholds, relating to our Alkali Business, consist of the following:
December 31, 2024December 31, 2023
Mineral leaseholds$566,019 $566,019 
Less: Accumulated depletion(30,468)(25,499)
Mineral leaseholds, net$535,551 $540,520 
Depreciation expense was $295.7 million, $263.5 million and $281.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. Depletion expense was $5.0 million, $4.6 million, and $3.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Asset Sales and Divestitures
On April 29, 2022, we entered into an agreement to sell the Independence Hub platform to a producer group in the Gulf of America for gross proceeds of $40.0 million, of which $8.0 million, or 20%, was attributable and paid to our noncontrolling interest holder. For the year ended December 31, 2022, we recorded a gain of $40.0 million recorded in “Gain on sale of asset” on the Consolidated Statement of Operations, of which $8.0 million, or 20%, is included in “Net income attributable to noncontrolling interests” on the Consolidated Statement of Operations, as the platform asset sold had no book value at the time of the sale.
Asset Retirement Obligations
We record AROs in connection with legal requirements to perform specified retirement activities under contractual arrangements and/or governmental regulations.
    A reconciliation of our liability for asset retirement obligations is as follows:
December 31, 2021$220,906 
Accretion expense13,092 
Revisions in timing and estimated costs of AROs11,216 
Settlements(16,641)
December 31, 2022$228,573 
Accretion expense12,040 
Revisions in timing and estimated costs of AROs3,185 
Settlements(90)
December 31, 2023$243,708 
Accretion expense11,107 
Settlements(406)
December 31, 2024$254,409 
At December 31, 2024 and December 31, 2023, $25.8 million and $26.1 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 2023 and 2022 are primarily attributable to the accelerated timing and updated costs associated with the abandonment of certain of our non-core offshore assets in the Gulf of America. 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.