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Property, plant and equipment
 12 Months Ended
Dec. 31, 2022
Property, plant and equipment [abstract]  
Property, plant and equipment Property, plant and equipment:
Owned Assets
(a)		Right-of-use assets
(b)		Total
Net book value at December 31, 2022$3,398,805 $756,478 $4,155,283 
Net book value at December 31, 2021$3,075,198 $610,951 $3,686,149 
a) Owned assets:
Buildings, plant
installations and
machinery
Plants Under Construction1
Ocean-going vessels
Other
TOTAL
Cost at January 1, 2022$4,908,492 $561,860 $240,525 $138,378 $5,849,255 
Additions
140,326 440,028 342 1,703 582,399 
Disposals and other
(47,819)— — — (47,819)
Cost at December 31, 20225,000,999 1,001,888 240,867 140,081 6,383,835 
Accumulated depreciation at January 1, 20222,631,268 — 37,271 105,518 2,774,057 
Depreciation
248,032 — 12,039 2,332 262,403 
Disposals and other
(51,430)— — — (51,430)
Accumulated depreciation at December 31, 20222,827,870 — 49,310 107,850 2,985,030 
Net book value at December 31, 2022$2,173,129 $1,001,888 $191,557 $32,231 $3,398,805 
1    The Company is constructing a 1.8 million tonne methanol plant in Geismar, Louisiana adjacent to its Geismar 1 and Geismar 2 facilities. Included in cost of Plants Under Construction are $94 million (2021: $54 million) of capitalized interest and finance charges.


Buildings, plant
installations and
machinery
Plants under
construction
Ocean-going vesselsOther
TOTAL
Cost at January 1, 2021
$4,861,912 $386,905 $210,099 $155,882 $5,614,798 
Additions66,802 174,955 30,426 849 273,032 
Disposals and other
(20,222)— — (18,353)(38,575)
Cost at December 31, 2021
4,908,492 561,860 240,525 138,378 5,849,255 
Accumulated depreciation at January 1, 2021
2,413,176 — 27,926 121,636 2,562,738 
Depreciation
238,314 — 9,345 2,235 249,894 
Disposals and other
(20,222)— — (18,353)(38,575)
Accumulated depreciation at December 31, 2021
2,631,268 — 37,271 105,518 2,774,057 
Net book value at December 31, 2021
$2,277,224 $561,860 $203,254 $32,860 $3,075,198 
b) Right-of-use (leased) assets:
Ocean-going vessels
Terminals and tanks
Plant installations and machinery
Other
TOTAL
Cost at January 1, 2022$657,774 $258,743 $23,797 $40,903 $981,217 
Additions
232,536 27,293 — 4,001 263,830 
Disposals and other
(43,333)— — — (43,333)
Cost at December 31, 2022846,977 286,036 23,797 44,904 1,201,714 
Accumulated depreciation at January 1, 2022214,004 125,494 12,850 17,918 370,266 
Depreciation
75,586 34,669 2,464 5,968 118,687 
Disposals and other
(43,717)— — — (43,717)
Accumulated depreciation at December 31, 2022245,873 160,163 15,314 23,886 445,236 
Net book value at December 31, 2022$601,104 $125,873 $8,483 $21,018 $756,478 

Ocean-going vessels
Terminals and tanks
Plant installations and machinery
Other
TOTAL
Cost at January 1, 2021$582,072 $246,553 $23,761 $39,670 $892,056 
Additions86,610 12,206 36 1,679 100,531 
Disposals and other(10,908)(16)— (446)(11,370)
Cost at December 31, 2021657,774 258,743 23,797 40,903 981,217 
Accumulated depreciation at January 1, 2021152,616 91,834 10,408 12,202 267,060 
Depreciation71,711 33,660 2,442 5,716 113,529 
Disposals and other(10,323)— 0 0 (10,323)
Accumulated depreciation at December 31, 2021214,004 125,494 12,850 17,918 370,266 
Net book value at December 31, 2021$443,770 $133,249 $10,947 $22,985 $610,951 

In Trinidad the Titan plant has remained idled since 2020. The extended outage has been identified as an impairment indicator in our Titan cash generating unit ("Titan CGU"). The impairment test performed on the Titan CGU resulted in no impairment provision recognized as the estimated recoverable value, determined on a fair value less costs of disposal methodology, exceeded the carrying value. The estimated recoverable value was based on an operating period for Titan aligned to natural gas reserves estimates in Trinidad with no terminal value, discounted at an after-tax rate of 16%.
The following table indicates the percentages by which key assumptions would need to change individually for the estimated Titan CGU recoverable value to be equal to the carrying value:

Key AssumptionsChange Required for Carrying Value to Equal Recoverable Value
Long-term average realized price
18 percent decrease
Production volumes
27 percent decrease
Gas price
21 percent increase
Discount rate (after-tax)
15 percent increase

The sensitivity above has been prepared considering each variable independently. Historically, our natural gas contracts in Trinidad have included terms whereby a change in methanol price results in a change in natural gas price, protecting margins should revenue decrease.