| Property, Plant and Equipment |
Property, plant and equipment and leasing equipment are stated at cost (inclusive of capitalized acquisition costs, where applicable) and depreciated using the straight-line method, over estimated useful lives, to estimated residual values which are summarized as follows: | | | | | | | | Range of Estimated Useful Lives | | Residual Value Estimates | Passenger aircraft | | 25 years from date of manufacture | | Not to exceed 15% of manufacturer’s list price when new | Aircraft engines | | 2 - 6 years, based on maintenance adjusted service life | | Sum of engine core salvage value plus the estimated fair value of life limited parts | Offshore energy vessels | | 25 years from date of manufacture | | 20% of new build cost | Railcars and locomotives | | 40 - 50 years from date of manufacture | | Scrap value at end of useful life | Track and track related assets | | 15 - 50 years from date of manufacture | | Scrap value at end of useful life | Buildings and site improvements | | 20 - 30 years | | Scrap value at end of useful life | Railroad equipment | | 3 - 15 years from date of manufacture | | Scrap value at end of useful life | Crude oil terminal machinery and equipment | | 15 - 25 years from date of manufacture | | Scrap value at end of useful life | Vehicles | | 5 - 7 years from date of manufacture | | Scrap value at end of useful life | Furniture and fixtures | | 3 - 6 years from date of purchase | | None | Computer hardware and software | | 3 - 5 years from date of purchase | | None |
Property, plant and equipment, net is summarized as follows: | | | | | | | | | | | | | | December 31, 2015 | | Railroad | | Jefferson Terminal | | Total | Land and site improvements | $ | 5,478 |
| | $ | 14,014 |
| | $ | 19,492 |
| Construction in progress | 893 |
| | 55,034 |
| | 55,927 |
| Buildings and improvements | 557 |
| | 2,193 |
| | 2,750 |
| Crude oil terminal machinery and equipment | — |
| | 210,857 |
| | 210,857 |
| Track and track related assets | 17,159 |
| | — |
| | 17,159 |
| Railroad equipment | 1,050 |
| | — |
| | 1,050 |
| Railcars and locomotives | 1,720 |
| | — |
| | 1,720 |
| Computer hardware and software | 118 |
| | 34 |
| | 152 |
| Furniture and fixtures | 121 |
| | 289 |
| | 410 |
| Vehicles | 503 |
| | 44 |
| | 547 |
| | 27,599 |
| | 282,465 |
| | 310,064 |
| Less: accumulated depreciation | (2,907 | ) | | (10,308 | ) | | (13,215 | ) | Spare parts | $ | — |
| | $ | 2,829 |
| | $ | 2,829 |
| Property, plant and equipment, net | $ | 24,692 |
| | $ | 274,986 |
| | $ | 299,678 |
|
| | | | | | | | | | | | | | December 31, 2014 | | Railroad | | Jefferson Terminal | | Total | Land and site improvements | $ | 5,484 |
| | $ | 9,573 |
| | $ | 15,057 |
| Construction in progress | — |
| | 145,716 |
| | 145,716 |
| Buildings and improvements | 436 |
| | 2,139 |
| | 2,575 |
| Crude oil terminal machinery and equipment | — |
| | 50,627 |
| | 50,627 |
| Track and track related assets | 12,022 |
| | — |
| | 12,022 |
| Railroad equipment | 1,268 |
| | — |
| | 1,268 |
| Railcars and locomotives | 1,293 |
| | — |
| | 1,293 |
| Computer hardware and software | — |
| | 34 |
| | 34 |
| Furniture and fixtures | — |
| | 317 |
| | 317 |
| Vehicles | 321 |
| | 258 |
| | 579 |
|
| 20,824 |
| | 208,664 |
| | 229,488 |
| Less: accumulated depreciation | (962 | ) | | (1,145 | ) | | (2,107 | ) | Property, plant and equipment, net | $ | 19,862 |
| | $ | 207,519 |
| | $ | 227,381 |
|
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