Certain Balance Sheet Information

12 Months Ended

Dec. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following at December 31, 2019 and 2018 (in millions):



	CEQP				CMLP
	December 31,				December 31,
	2019		2018		2019		2018
Gathering systems and pipelines and related assets	$	1,017.8	$	758.6	$	1,160.6	$	901.5
Facilities and equipment	1,797.7		1,230.7		1,982.8		1,415.9
Buildings, land, rights-of-way, storage rights and easements	370.6		331.7		374.3		335.4
Vehicles	27.7		17.9		26.0		16.1
Construction in process	368.7		230.8		368.7		230.8
Office furniture and fixtures	30.0		28.4		30.2		28.5
	3,612.5		2,598.1		3,942.6		2,928.2
Less: accumulated depreciation	703.4		568.4		875.1		725.9
Total property, plant and equipment, net	$	2,909.1	$	2,029.7	$	3,067.5	$	2,202.3

Depreciation. CEQP’s depreciation expense totaled $139.5 million, $123.6 million and $135.9 million for the years ended December 31, 2019, 2018 and 2017. CMLP’s depreciation expense totaled $153.5 million, $137.7 million and $150.0 million for the years ended December 31, 2019, 2018 and 2017.

Capitalized Interest. During the years ended December 31, 2019, 2018 and 2017, CEQP and CMLP capitalized interest of $14.4 million, $5.0 million and $2.9 million related to certain expansion projects.

Finance Leases. We had finance lease assets of $9.5 million and $9.7 million included in property, plant and equipment, net at December 31, 2019 and 2018, primarily related to certain vehicle leases. See Notes 2 and 15 for a further discussion of our finance lease assets.

Intangible Assets

Intangible assets at CEQP and CMLP consisted of the following at December 31, 2019 and 2018 (in millions):



	December 31,
	2019		2018
Customer accounts	$	438.9	$	438.9
Gas gathering, compression and processing contracts ⁽¹⁾	631.2		325.2
Trademarks	6.2		6.2
	1,076.3		770.3
Less: accumulated amortization	271.1		216.5
Total intangible assets, net	$	805.2	$	553.8


(1)	Includes $306.0 million related to a revenue contract acquired from the Jackalope Acquisition, which is further discussed in Note 3.

The following table summarizes total accumulated amortization of CEQP’s and CMLP’s intangible assets at December 31, 2019 and 2018 (in millions):



	December 31,
	2019		2018
Customer accounts	$	134.4	$	112.1
Gas gathering, compression and processing contracts	132.5		100.8
Trademarks	4.2		3.6
Total accumulated amortization	$	271.1	$	216.5

Crestwood Equity’s amortization expense related to its intangible assets for the years ended December 31, 2019, 2018 and 2017, was approximately $54.6 million, $43.5 million and $53.7 million. Crestwood Midstream’s amortization expense related to its intangible assets for the years ended December 31, 2019, 2018 and 2017 was approximately $54.6 million, $42.1 million and $50.6 million.

Estimated amortization of CEQP’s and CMLP’s intangible assets for the next five years is as follows (in millions):



Year Ending December 31,
2020	$	58.9
2021	$	58.9
2022	$	58.9
2023	$	55.0
2024	$	50.1

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following at December 31, 2019 and 2018 (in millions):



	CEQP				CMLP
	December 31,				December 31,
	2019		2018		2019		2018
Accrued expenses⁽¹⁾	$	61.6	$	64.8	$	60.3	$	63.7
Accrued property taxes	6.1		2.6		6.1		2.6
Income tax payable	0.3		0.3		0.3		0.3
Interest payable	25.6		19.8		25.6		19.8
Accrued additions to property, plant and equipment	38.0		10.5		38.0		10.5
Operating leases	18.1		—		18.1		—
Finance leases	3.2		2.4		3.2		2.4
Deferred revenue	8.8		12.0		8.8		12.0
Total accrued expenses and other liabilities	$	161.7	$	112.4	$	160.4	$	111.3


(1)	Includes $16.2 million of related party accrued expenses at December 31, 2018 related to deposits received from Jackalope prior to the acquisition of the remaining 50% equity interest in Jackalope from Williams in April 2019.

Other Long-Term Liabilities

Other long-term liabilities consisted of the following at December 31, 2019 and 2018 (in millions):



	CEQP				CMLP
	December 31,				December 31,
	2019		2018		2019		2018
Contract liabilities	$	144.7	$	65.4	$	144.7	$	65.4
Contingent consideration	57.0		57.0		57.0		57.0
Operating leases	41.5		—		41.5		—
Asset retirement obligations	33.3		27.6		33.3		27.6
Other	25.1		23.6		19.1		21.0
Total other long-term liabilities	$	301.6	$	173.6	$	295.6	$	171.0