v3.26.1
Property, Plant and Equipment (Tables)
 12 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Schedule of property, plant and equipment
Our property, plant and equipment consists of the following at the dates indicated:
EstimatedMarch 31,
DescriptionUseful Lives20262025
(in years)(in thousands)
Water treatment facilities and equipment (1)2-30$2,418,731 $2,240,919 
Pipeline and related facilities30-40266,324 266,324 
Crude oil tanks and related equipment2-30234,217 230,174 
Buildings and leasehold improvements3-40124,783 124,388 
Natural gas liquids terminal and storage assets2-30100,404 99,805 
Land64,610 64,733 
Tank bottoms and linefill (2) 37,551 30,623 
Information technology equipment3-731,762 31,319 
Vehicles and railcars (3)3-2523,734 33,629 
Other3-2019,360 19,161 
Construction in progress42,557 30,354 
Gross property, plant and equipment3,364,033 3,171,429 
Accumulated depreciation(1,272,286)(1,104,582)
Net property, plant and equipment$2,091,747 $2,066,847 
(1)    Includes finance leases right-of-use assets of $8.6 million at March 31, 2026. Accumulated amortization related to these finance leases is included within accumulated depreciation.
(2)    Tank bottoms, which are product volumes required for the operation of storage tanks, are recorded at historical cost. We recover tank bottoms when the storage tanks are removed from service. Linefill, which represents our portion of the product volume required for the operation of the proportionate share of a pipeline we own, is recorded at historical cost.
(3)    Includes finance leases right-of-use assets of $0.2 million and $0.1 million at March 31, 2026 and 2025, respectively. Accumulated amortization related to these finance leases is included within accumulated depreciation.

Amounts in the table above do not include assets classified as either held for sale or discontinued operations within our March 31, 2025 consolidated balance sheet (see Note 18).
Schedule of depreciation expense and capitalized interest expense
The following table summarizes depreciation expense and capitalized interest expense for the periods indicated:
Year Ended March 31,
202620252024
(in thousands)
Depreciation expense$200,174 $198,859 $198,542 
Capitalized interest expense$1,132 $2,121 $1,561 

Amounts in the table above do not include depreciation expense related to our refined products and biodiesel businesses, as these amounts have been classified within discontinued operations within our consolidated statements of operations (see Note 18).
Schedule of (gains) losses from the sales of property plant and equipment and any write-downs in value due to impairment The following table summarizes (gains) losses on the disposal or impairment of property, plant and equipment by segment for the periods indicated:
Year Ended March 31,
202620252024
(in thousands)
Water Solutions (1)$18,041 $9,007 $38,938 
Crude Oil Logistics (2)267 (335)2,910 
Liquids Logistics (3)(19)(628)(810)
Corporate and Other(2)43 (720)
Total$18,287 $8,087 $40,318 
(1)    Amount does not include the net loss recognized on the sale of certain investments in unconsolidated entities and related assets during the year ended March 31, 2026 discussed in Note 17. Amount does not include the gain recognized on the sale of certain freshwater water solutions facilities and certain saltwater disposal assets during the year ended March 31, 2025 discussed in Note 17. Amount does not include the loss recognized on the sale of certain saltwater disposal assets during the year ended March 31, 2024 discussed in Note 17.
(2)    Amounts do not include the gains recognized on the sale of certain railcars during the years ended March 31, 2026 and 2025 discussed in Note 17.
(3)    Amount does not include the net gains recognized on the Wholesale Propane Disposition and the sale of our refined products business during the year ended March 31, 2026 discussed in Note 17. Amount does not include the gain recognized on the sale of our natural gas liquids terminal in Green Bay, Wisconsin during the year ended March 31, 2025 discussed in Note 17. Amount does not include the gain recognized on the sale of three natural gas liquids terminals during the year ended March 31, 2024 discussed in Note 17.