ONEOK Inc., balance sheet: property, plant and equipment

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Gathering pipelines and related equipment	4,671,063)	4,371,936)	4,143,752)	4,316,936)	3,851,043)
Processing and fractionation and related equipment	5,396,165)	5,356,508)	5,084,802)	4,439,332)	4,171,072)
Storage and related equipment	926,300)	874,522)	798,785)	684,635)	656,455)
Transmission pipelines and related equipment	756,805)	886,343)	810,434)	797,678)	782,258)
General plant and other	716,310)	695,117)	647,675)	610,013)	547,424)
Construction work in process	1,618,561)	1,132,961)	1,265,736)	1,645,663)	797,182)
Nonregulated	14,085,204)	13,317,387)	12,751,184)	12,494,257)	10,805,434)
Storage and related equipment	9,659)	9,197)	9,180)	9,180)	8,987)
Natural gas transmission pipelines and related equipment	2,028,995)	1,660,034)	1,569,268)	1,552,546)	1,475,789)
NGL transmission pipelines and related equipment	8,575,980)	8,595,968)	8,423,544)	6,126,056)	4,677,599)
General plant and other	94,641)	73,449)	72,535)	66,507)	61,136)
Construction work in process	220,656)	164,504)	247,224)	1,802,946)	1,002,018)
Regulated	10,929,931)	10,503,152)	10,321,751)	9,557,235)	7,225,529)
Gross property, plant and equipment	25,015,135)	23,820,539)	23,072,935)	22,051,492)	18,030,963)
Accumulated depreciation and amortization	(5,062,609)	(4,500,665)	(3,918,007)	(3,702,807)	(3,264,312)
Net property, plant and equipment	19,952,526)	19,319,874)	19,154,928)	18,348,685)	14,766,651)

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Item	Description	The company
Gross property, plant and equipment	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	ONEOK Inc. gross property, plant and equipment increased from 2020 to 2021 and from 2021 to 2022.
Net property, plant and equipment	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	ONEOK Inc. net property, plant and equipment increased from 2020 to 2021 and from 2021 to 2022.

ONEOK Inc., asset age ratios

		Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
	Average age ratio	20.24%	18.89%	16.98%	16.79%	18.10%

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	ONEOK Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization	5,062,609)	4,500,665)	3,918,007)	3,702,807)	3,264,312)
Gross property, plant and equipment	25,015,135)	23,820,539)	23,072,935)	22,051,492)	18,030,963)
Asset Age Ratio
Average age¹	20.24%	18.89%	16.98%	16.79%	18.10%

2022 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ Gross property, plant and equipment
= 100 × 5,062,609 ÷ 25,015,135 = 20.24%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	ONEOK Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 and from 2021 to 2022.

ONEOK Inc. (NYSE:OKE)

Analysis of Property, Plant and Equipment