Property, Plant and Equipment (Tables)

3 Months Ended

Jun. 30, 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:


Description	Estimated Useful Lives			June 30, 2026		March 31, 2026
	(in years)			(in thousands)
Water treatment facilities and equipment (1)	3	-	30	$	2,445,479	$	2,418,731
Pipeline and related facilities	30	-	40	266,324		266,324
Crude oil tanks and related equipment	2	-	30	235,107		234,217
Buildings and leasehold improvements	3	-	40	125,978		124,783
Natural gas liquids terminal and storage assets	2	-	30	101,723		100,404
Land				64,610		64,610
Tank bottoms and linefill (2)				37,551		37,551
Information technology equipment	3	-	7	32,547		31,762
Vehicles (3)	3	-	25	23,499		23,734
Other	3	-	20	19,360		19,360
Construction in progress				111,356		42,557
Gross property, plant and equipment				3,463,534		3,364,033
Accumulated depreciation				(1,312,835)		(1,272,286)
Net property, plant and equipment				$	2,150,699	$	2,091,747

(1) Includes finance leases right-of-use assets of $10.3 million and $8.6 million at June 30, 2026 and March 31, 2026, respectively. 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 $0.5 million and $0.2 million at June 30, 2026 and March 31, 2026, respectively. Accumulated amortization related to these finance leases is included within accumulated depreciation.

Schedule of depreciation expense and capitalized interest expense

The following table summarizes depreciation expense and capitalized interest expense for the periods indicated:


	Three Months Ended June 30,
	2026		2025
	(in thousands)
Depreciation expense	$	48,497	$	53,417
Capitalized interest expense	$	591	$	84

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 period indicated:


	Three Months Ended June 30, 2026
	(in thousands)
Water Solutions	$	1,888
Crude Oil Logistics	117
Liquids Logistics	(13)
Corporate and Other	(8)
Total	$	1,984