
	September 30, 2026			December 31, 2025			Estimated Useful Lives (In Years)
Gathering systems	$	13,388.6		$	12,431.3		5 to 20
Processing and fractionation facilities		11,971.1			10,477.3		5 to 25
Terminaling and storage facilities		1,744.1			1,648.4		5 to 25
Transportation assets		5,096.6			4,536.0		10 to 50
Other property, plant and equipment		662.6			586.5		3 to 25
Land		214.7			209.3		—
Construction in progress		3,548.4			2,804.9		—
Finance lease right-of-use assets (1)		1,014.4			507.4		5 to 14
Property, plant and equipment		37,640.5			33,201.1
Accumulated depreciation, amortization and impairment		(13,675.9	)		(12,666.3	)
Property, plant and equipment, net	$	23,964.6		$	20,534.8

Intangible assets		5,037.0			4,378.0		10 to 20
Accumulated amortization and impairment		(3,034.3	)		(2,726.6	)
Intangible assets, net	$	2,002.7		$	1,651.4

(1)

The balance as of September 30, 2026 includes amounts related to the amendment of a compressor lease agreement that was effective on April 1, 2026. See “Note 8 – Leases” for further details.

During the three and nine months ended September 30, 2026, depreciation expense was $357.1 million and $1,031.0 million, respectively. During the three and nine months ended September 30, 2025, depreciation expense was $302.0 million and $880.3 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 nine months ended September 30, 2026, amortization expense was $102.5 million and $307.7 million, respectively. During the three and nine months ended September 30, 2025, amortization expense was $81.5 million and $244.5 million, respectively.