Properties, Plants and Equipment
Our investment in PP&E is recorded at cost. Investments in refining manufacturing facilities are generally depreciated on a straight-line basis over a 25-year life, and pipeline assets over a 45-year life. The company’s investment in PP&E, with the associated accumulated depreciation and amortization (Accum. D&A), at December 31 was: | | | | | | | | | | | | | | | | | | | | | Millions of Dollars | | 2013 | | 2012 | | Gross PP&E |
| | Accum. D&A |
| | Net PP&E |
| | Gross PP&E |
| | Accum. D&A |
| | Net PP&E |
| | | | | | | | | | | | | Midstream | $ | 2,792 |
| | 1,104 |
| | 1,688 |
| | 2,460 |
| | 1,016 |
| | 1,444 |
| Chemicals | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Refining | 19,264 |
| | 6,718 |
| | 12,546 |
| | 17,989 |
| | 5,913 |
| | 12,076 |
| Marketing and Specialties | 1,395 |
| | 749 |
| | 646 |
| | 2,437 |
| | 1,057 |
| | 1,380 |
| Corporate and Other | 975 |
| | 457 |
| | 518 |
| | 880 |
| | 415 |
| | 465 |
| Discontinued Operations* | — |
| | — |
| | — |
| | 63 |
| | 21 |
| | 42 |
| | $ | 24,426 |
| | 9,028 |
| | 15,398 |
|
| 23,829 |
|
| 8,422 |
| | 15,407 |
|
* At December 31, 2013, net PP&E of $58 million associated with discontinued operations was classified as current assets. |