Property, Plant, and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure

Property, Plant and Equipment

Asset Impairments

The Company recognized asset impairment charges of $6.3 million and $7.5 million for the three and nine months ended September 30, 2022, and immaterial asset impairment charges for the three and nine months ended September 30, 2021. The charges recorded in 2022 were primarily due to an increase in the estimate of existing asset retirement obligations related to retired assets.

Asset Purchase

In September 2021, the Company, through its newly created subsidiary, Louisiana Gas Transmission, acquired certain natural gas pipeline assets in the Lake Charles, Louisiana, area for approximately $20.0 million in cash.