XML 40 R12.htm IDEA: XBRL DOCUMENT v3.20.2
DEFERRED CHARGES AND OTHER ASSETS, NET
12 Months Ended
Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
DEFERRED CHARGES AND OTHER ASSETS, NET
5.

DEFERRED CHARGES AND OTHER ASSETS, NET

Deferred charges and other assets, net consisted of the following:

 

(in millions)

   December 31, 2019      December 31, 2018  

Deferred turnaround costs, net

   $ 722.7      $ 673.1  

Catalyst, net

     132.7        124.3  

Environmental credits

     37.8        37.8  

Finance lease assets

     24.2        —    

Linefill

     19.5        19.5  

Pension plan assets

     10.3        9.7  

Intangible assets, net

     0.5        0.5  

Other

     6.5        6.9  
  

 

 

    

 

 

 

Total deferred charges and other assets, net

   $ 954.2      $ 871.8  
  

 

 

    

 

 

 

Catalyst, net includes $74.5 million and $73.1 million of indefinitely-lived precious metal catalysts as of December 31, 2019 and December 31, 2018, respectively.

The Company recorded amortization expense related to deferred turnaround costs, catalyst and intangible assets of $256.8 million, $207.2 million and $144.0 million for the years ended December 31, 2019, 2018 and 2017, respectively.

 

Intangible assets, net primarily consists of permits and emission credits. Our net balance as of December 31, 2019 and December 31, 2018 is shown below.

 

(in millions)

   December 31, 2019      December 31, 2018  

Intangible assets - gross

   $ 4.0      $ 4.0  

Accumulated amortization

     (3.5      (3.5
  

 

 

    

 

 

 

Intangible assets - net

   $ 0.5      $ 0.5