Phillips 66 | 2013 | FY | 3


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.

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