
	June 30, 2026			December 31, 2025			Estimated Useful Lives (In Years)
Gathering systems	$	13,089.6		$	12,431.3		5 to 20
Processing and fractionation facilities		11,866.0			10,477.3		5 to 25
Terminaling and storage facilities		1,717.0			1,648.4		5 to 25
Transportation assets		5,037.4			4,536.0		10 to 50
Other property, plant and equipment		650.1			586.5		3 to 25
Land		222.3			209.3		—
Construction in progress		2,816.4			2,804.9		—
Finance lease right-of-use assets (1)		990.6			507.4		5 to 14
Property, plant and equipment		36,389.4			33,201.1
Accumulated depreciation, amortization and impairment		(13,326.8	)		(12,666.3	)
Property, plant and equipment, net	$	23,062.6		$	20,534.8

Intangible assets		5,037.0			4,378.0		10 to 20
Accumulated amortization and impairment		(2,931.8	)		(2,726.6	)
Intangible assets, net	$	2,105.2		$	1,651.4

(1) The balance as of June 30, 2026 includes amounts related to the amendment of a compressor lease agreement. See “Note 8 – Leases” for further details.

During the three and six months ended June 30, 2026, depreciation expense was $351.1 million and $673.9 million, respectively. During the three and six months ended June 30, 2025, depreciation expense was $292.2 million and $578.3 million, respectively.

Intangible assets consist of customer contracts and customer relationships acquired in our business combinations. The fair value of these acquired intangible assets were determined at the date of acquisition based on the present values of estimated future cash flows. Amortization expense attributable to these assets is recorded over the periods in which we benefit from services provided to customers.

During the three and six months ended June 30, 2026, amortization expense was $102.0 million and $205.2 million, respectively. During the three and six months ended June 30, 2025, amortization expense was $81.5 million and $163.0 million, respectively.

The estimated annual amortization expense for intangible assets is approximately $410.3 million, $377.2 million, $327.2 million, $286.8 million and $241.2 million for each of the years 2026 through 2030, respectively.