
	Weighted Average
December 31,	Depreciation Rate		2024	2023
(millions of Canadian dollars)
Pipelines	2.9	%	73,633	66,698
Facilities and equipment	3.2	%	43,439	37,634
Land and right-of-way1	2.8	%	4,181	3,600
Gas mains, services and other	3.0	%	26,925	15,346
Storage	2.6	%	6,455	4,929
Wind turbines, solar panels and other	3.9	%	4,798	4,511
Other	8.6	%	3,987	1,652
Under construction	—	%	5,648	2,829
Total property, plant and equipment2			169,066	137,199
Total accumulated depreciation2			(37,962)	(32,558)
Property, plant and equipment, net			131,104	104,641

2As at December 31, 2024, the cost and accumulated depreciation of leased assets accounted for as lessor operating leases was $5.3 billion and $2.3 billion, respectively (December 31, 2023 - $5.1 billion and $2.1 billion, respectively).

Depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $4.6 billion, $4.0 billion and $3.8 billion, respectively.

Chapman Ranch Wind Farm (Chapman Ranch) is experiencing financial challenges associated with the original equipment integrity. As a result, we have recognized an impairment loss of $251 million for the year ended December 31, 2023, which is included in Impairment of long-lived assets in the Consolidated Statements of Earnings and is part of our Renewable Power Generation segment.

In 2022, Magic Valley Wind Farm (Magic Valley) had commercial challenges caused by electricity transmission congestion and a negative price differential arising from higher transmission costs resulting in a lower electricity sale price. As a result, we recognized an impairment loss of $227 million for the year ended December 31, 2022, which is included in Impairment of long-lived assets in the Consolidated Statements of Earnings and is part of our Renewable Power Generation segment.

For the year ended December 31, 2022, we recognized an impairment loss of $183 million on the US and Canadian components of the interstate pipeline transportation system within the North Dakota System of our Bakken Pipeline System in connection with the expiration of certain long-term take-or-pay contracts in 2023. This loss is included in Impairment of long-lived assets in the Consolidated Statements of Earnings and is part of our Liquids Pipelines segment.

Impairment charges were based on the amount by which the carrying value of the assets exceeded fair value, determined using expected discounted future cash flows.