Property, Plant And Equipment

12 Months Ended

Dec. 31, 2012

9. PROPERTY, PLANT AND EQUIPMENT

Major classes of property, plant and equipment consisted of the following:


(in millions)	Estimated Useful Lives		December 31, 2012		December 31, 2011
Land			$	8.9	$	8.7
Retail stores and equipment		2 - 22 years		49.1		50.4
Refinery and equipment		5 - 24 years		330.4		310.4
Buildings and building improvements		25 years		8.3		6.7
Software		5 years		17.8		14.7
Vehicles		5 years		2.9		1.0
Other equipment		2 - 7 years		6.1		1.9
Precious metals				10.5		10.5
Assets under construction				14.3		17.4

				448.3		421.7
Less: accumulated depreciation				62.3		30.5

Property, plant and equipment, net			$	386.0	$	391.2

Property, plant & equipment, net includes gross assets acquired under capital leases of $7.9 million and $12.5 million at December 31, 2012 and 2011, respectively, with related accumulated depreciation of $0.7 million and $1.4 million, respectively. The Company had depreciation expense related to capitalized software of $3.2 million and $0.7 million in the years ended December 31, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Northern Tier Energy LLC 10-K