Certain Balance Sheet Information

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following (in millions):


	CEQP				CMLP
	December 31,				December 31,
	2022		2021		2022		2021
Gathering systems and pipelines and related assets	$	1,616.1	$	1,052.5	$	1,616.1	$	1,195.2
Facilities and equipment	2,893.9		2,200.6		2,893.9		2,385.8
Buildings, land, rights-of-way, storage rights and easements	637.1		391.8		637.1		395.5
Vehicles	22.7		17.0		19.5		14.5
Construction in process	135.0		64.7		135.0		64.7
Finance leases	13.6		12.3		13.6		12.3
Office furniture and fixtures	34.8		32.6		34.8		32.8
	5,353.2		3,771.5		5,350.0		4,100.8
Less: accumulated depreciation	822.8		992.1		822.6		1,193.0
Total property, plant and equipment, net	$	4,530.4	$	2,779.4	$	4,527.4	$	2,907.8

Depreciation. CEQP’s depreciation expense totaled $250.8 million, $180.9 million and $174.8 million for the years ended December 31, 2022, 2021 and 2020. CMLP’s depreciation expense totaled $256.5 million, $195.1 million and $188.9 million for the years ended December 31, 2022, 2021 and 2020.

Capitalized Interest. During the years ended December 31, 2022, 2021 and 2020, we capitalized interest of $3.0 million, $0.4 million and $2.7 million related to certain expansion projects.

Intangible Assets

Our intangible assets consisted of the following (in millions):


	December 31,
	2022		2021
Customer relationships(1)	$	994.1	$	488.7
Revenue contracts(1)	306.0		631.2
Trademarks	6.2		6.2
	1,306.3		1,126.1
Less: accumulated amortization	300.7		393.2
Total intangible assets, net	$	1,005.6	$	732.9

(1)The change in our intangible assets during the year ended December 31, 2022 primarily relates to our acquisitions and divestitures which are further discussed in Note 3.

The following table summarizes total accumulated amortization of our intangible assets (in millions):


	December 31,
	2022		2021
Customer relationships(1)	$	230.2	$	183.2
Revenue contracts(1)	64.6		204.6
Trademarks	5.9		5.4
Total accumulated amortization	$	300.7	$	393.2

(1)The change in our intangible assets’ accumulated amortization during the year ended December 31, 2022 primarily relates to our acquisitions and divestitures which are further discussed in Note 3.

Amortization expense related to our intangible assets for the years ended December 31, 2022, 2021 and 2020, was approximately $78.9 million, $61.4 million and $60.7 million.

Estimated amortization of our intangible assets for the next five years is as follows (in millions):


Year Ending December 31,
2023	$	64.0
2024	$	60.7
2025	$	60.7
2026	$	60.7
2027	$	60.7

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following (in millions):



	December 31,
		2022		2021
CMLP
Accrued expenses		$	66.5	$	66.2
Accrued property taxes		8.4		4.5
Income tax payable		0.9		0.4
Interest payable		43.2		30.6
Accrued additions to property, plant and equipment		35.6		17.4
Operating leases		10.9		13.2
Finance leases		1.9		1.7
Contract liabilities		11.7		10.7
Asset retirement obligations		0.4		1.4
Total CMLP accrued expenses and other liabilities		$	179.5	$	146.1
CEQP
Accrued expenses		1.2		0.9
Income tax payable		0.1		0.1
Total CEQP accrued expenses and other liabilities		$	180.8	$	147.1

Other Long-Term Liabilities

Other long-term liabilities consisted of the following (in millions):



	December 31,
		2022		2021
CMLP
Contract liabilities		$	212.3	$	187.1
Operating leases		17.4		19.4
Asset retirement obligations		36.4		34.8
Intangible liabilities, net(1)		50.0		—
Other		14.2		12.8
Total CMLP other long-term liabilities		$	330.3	$	254.1
CEQP
Other		3.1		4.6
Total CEQP other long-term liabilities		$	333.4	$	258.7

(1)Intangible liabilities primarily consist of revenue contracts acquired in conjunction with the Sendero Acquisition and CPJV Acquisition during the year ended December 31, 2022. As of and during the year ended December 31, 2022, accumulated amortization and amortization expenses related to these intangible liabilities was approximately $2.8 million. The estimated amortization of our intangible liabilities for the next 5 years is approximately $6.0 million in each year. See Note 3 for a further discussion of these intangible liabilities.