Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment, net consists of the following as of the dates indicated:

		December 31,
	Depreciable Life	2020		2019
Land	—	$	12	$	11
Building and improvements	10 - 40 years	47		40
Pipeline and equipment (1)	10 - 30 years	1,263		1,228
Other	5 - 25 years	34		33
		1,356		1,312
Accumulated depreciation and amortization (2)		(661)		(613)
		695		699
Construction in progress		4		27
Property, plant and equipment, net		$	699	$	726

(1) As of December 31, 2020 and 2019, includes cost of $372 million and $369 million, respectively, related to assets under operating    leases (as lessor). As of both December 31, 2020 and 2019, includes cost of $23 million related to assets under capital lease (as lessee).

(2) As of December 31, 2020 and 2019, includes accumulated depreciation of $147 million and $133 million, respectively, related to assets under operating leases (as lessor), which commenced in May 2017 and December 2017. As of December 31, 2020 and 2019, includes accumulated depreciation of $8 million and $6 million, respectively, related to assets under capital lease (as lessee).

Depreciation and amortization expense on property, plant and equipment for 2020, 2019 and 2018 was $50 million, $49 million and $46 million, respectively, and is included in cost and expenses in the accompanying consolidated statements of income. Depreciation and amortization expense on property, plant and equipment includes amounts pertaining to assets under operating (as lessor) and capital leases (as lessee).

We evaluate long-lived assets for potential impairment indicators whenever events or changes in circumstances indicate that the carrying amount of our assets may not be recoverable. Due to the continuing effects of the COVID-19 pandemic, we evaluated whether an impairment indicator existed during the year ended December 31, 2020. Based on our current forecast and expectations of market conditions, we determined that there was no triggering event that required us to update our impairment evaluation of property, plant and equipment. However, if current volatile market conditions deteriorate further or continue for an extended period of time, we may be required to assess the recoverability of our long-lived assets, which could result in an impairment.