Property, plant and equipment

12 Months Ended

Dec. 31, 2023

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, 2023	$	3,654,475	$	757,293	$	4,411,768
Net book value at December 31, 2022	$	3,398,805	$	756,478	$	4,155,283

a) Owned assets:

	Buildings, plant installations and machinery		Plants Under Construction1		Ocean vessels		Other		TOTAL
Cost at January 1, 2023	$	5,000,999	$	1,001,888	$	240,867	$	140,081	$	6,383,835
Additions	174,058		353,609		253		4,153		532,073
Disposals and other	(294,850)		—		(397)		(15,571)		(310,818)
Cost at December 31, 2023	4,880,207		1,355,497		240,723		128,663		6,605,090
Accumulated depreciation at January 1, 2023	2,827,870		—		49,310		107,850		2,985,030
Depreciation	248,783		—		12,080		2,153		263,016
Disposals and other	(281,951)		—		—		(15,480)		(297,431)
Accumulated depreciation at December 31, 2023	2,794,702		—		61,390		94,523		2,950,615
Net book value at December 31, 2023	$	2,085,505	$	1,355,497	$	179,333	$	34,140	$	3,654,475

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 $150 million (2022: $94 million) of capitalized interest and finance charges.

	Buildings, plant installations and machinery		Plants under construction		Ocean 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, 2022	5,000,999		1,001,888		240,867		140,081		6,383,835
Accumulated depreciation at January 1, 2022	2,631,268		—		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, 2022	2,827,870		—		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

b) Right-of-use (leased) assets:

	Ocean vessels		Terminals and tanks		Other		TOTAL
Cost at January 1, 2023	$	846,977	$	286,036	$	68,701	$	1,201,714
Additions	83,333		52,909		5,951		142,193
Disposals and other	(19,589)		(6,504)		(16,031)		(42,124)
Cost at December 31, 2023	910,721		332,441		58,621		1,301,783
Accumulated depreciation at January 1, 2023	245,873		160,163		39,200		445,236
Depreciation	88,040		36,140		6,583		130,763
Disposals and other	(19,589)		—		(11,920)		(31,509)
Accumulated depreciation at December 31, 2023	314,324		196,303		33,863		544,490
Net book value at December 31, 2023	$	596,397	$	136,138	$	24,758	$	757,293

	Ocean vessels		Terminals and tanks		Other		TOTAL
Cost at January 1, 2022	$	657,774	$	258,743	$	64,700	$	981,217
Additions	232,536		27,293		4,001		263,830
Disposals and other	(43,333)		—		—		(43,333)
Cost at December 31, 2022	846,977		286,036		68,701		1,201,714
Accumulated depreciation at January 1, 2022	214,004		125,494		30,768		370,266
Depreciation	75,586		34,669		8,432		118,687
Disposals and other	(43,717)		—		—		(43,717)
Accumulated depreciation at December 31, 2022	245,873		160,163		39,200		445,236
Net book value at December 31, 2022	$	601,104	$	125,873	$	29,501	$	756,478