Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure

PROPERTY, PLANT AND EQUIPMENT

The following table sets forth our property, plant and equipment by property type, for the periods indicated:

	December 31,
	2024		2023
	(Thousands of dollars)
Natural gas distribution pipelines and related equipment	$	7,278,542	$	6,716,074
Natural gas transmission pipelines and related equipment	736,229		713,505
General plant and other	942,677		907,946
Construction work in process	166,686		131,442
Property, plant and equipment	9,124,134		8,468,967
Accumulated depreciation and amortization	(2,478,261)		(2,333,755)
Net property, plant and equipment	$	6,645,873	$	6,135,212

We compute depreciation expense by applying composite, straight-line rates of approximately 2.7 percent to 3.2 percent as approved by various regulatory authorities.

We recorded capitalized interest of $8.2 million, $5.7 million and $4.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. We incurred liabilities for construction work in process and asset removal costs that had not been paid at December 31, 2024, 2023 and 2022 of $33.7 million, $36.2 million and $28.6 million, respectively. Such amounts are not included in capital expenditures or in the change of working capital items on our consolidated statements of cash flows.