Property, Plant and Equipment

6 Months Ended

12 Months Ended

Sep. 30, 2014

Mar. 31, 2014

Property, Plant and Equipment

Property, Plant and Equipment

Note 5 — Property, Plant and Equipment

Our property, plant and equipment consists of the following:

	September 30,		March 31,
Description and Estimated Useful Lives	2014		2014
	(in thousands)
Natural gas liquids terminal assets (2–30 years)	$	127,258	$	75,141
Refined products and renewables terminal assets and equipment (20 years)	419,411		—
Retail propane equipment (2–30 years)	167,825		160,758
Vehicles and railcars (3–25 years)	172,799		152,676
Water treatment facilities and equipment (3–30 years)	209,644		180,985
Crude oil tanks and related equipment (2–40 years)	145,287		106,125
Barges and towboats (5–40 years)	56,094		52,217
Information technology equipment (3–7 years)	30,519		20,768
Buildings and leasehold improvements (3–40 years)	77,415		60,004
Land	88,350		30,241
Tank bottoms	17,679		13,403
Other (3–30 years)	16,770		6,341
Construction in progress	57,319		80,251
	1,586,370		938,910
Less: Accumulated depreciation	(153,057)		(109,564		)
Net property, plant and equipment	$	1,433,313	$	829,346

Depreciation expense was $28.4 million and $13.7 million during the three months ended September 30, 2014 and 2013, respectively, and $46.9 million and $27.2 million during the six months ended September 30, 2014 and 2013, respectively.

Crude oil volumes required for the operation of storage tanks, known as tank bottoms, are recorded at historical cost. Tank bottoms are the volume of crude oil that must be maintained in a storage tank to enable operation of the storage tank. We recover tank bottom crude oil when we no longer use the storage tanks or the storage tanks are removed from service. At September 30, 2014, tank bottoms consisted of approximately 185,000 barrels.

Note 5 — Property, Plant and Equipment

Our property, plant and equipment consists of the following:

	March 31,
				2013
Description and Estimated Useful Lives	2014			(Note 2)
	(in thousands)
Natural gas liquids terminal assets (2—30 years)	$	75,141		$	63,637
Retail propane equipment (2—30 years)	160,758			152,802
Vehicles (3—25 years)	152,676			88,173
Water treatment facilities and equipment (3—30 years)	180,985			91,944
Crude oil tanks and related equipment (2—40 years)	106,125			22,577
Barges and towboats (5—40 years)	52,217			25,963
Information technology equipment (3—7 years)	20,768			12,169
Buildings and leasehold improvements (3—40 years)	60,004			48,975
Land	30,241			21,815
Linefill and tank bottoms	13,403			—
Other (5—30 years)	6,341			16,104
Construction in progress	80,251			32,405
	938,910			576,564
Less: Accumulated depreciation	(109,564		)	(50,127		)
Net property, plant and equipment	$	829,346		$	526,437

Depreciation expense was $59.9 million, $39.2 million and $10.6 million during the years ended March 31, 2014, 2013 and 2012, respectively. During the year ended March 31, 2014, we capitalized $0.7 million of interest expense.