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Annual report pursuant to Section 13 and 15(d)

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.22.4
ASSET RETIREMENT OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2022
Environmental Remediation Obligations [Abstract] Ìý
Schedule of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
December 31,
(In millions) 2022 2021
Asset retirement obligations1
$ 520Ìý $ 449Ìý
Less: current portion 21Ìý 35Ìý
Long-term asset retirement obligations $ 499Ìý $ 414Ìý
1 Includes $277 million and $293 million related to our active operations as of DecemberÌý31, 2022 and 2021, respectively.
Roll-forward of Asset Retirement Obligation Liability
The following is a roll-forward of our asset retirement obligation liability:
(In millions) 2022 2021
Asset retirement obligation as of January 1 $ 449Ìý $ 342Ìý
Increase from acquisitions â€�Ìý 116Ìý
Reclassification from environmental obligations 63Ìý —Ì�
Accretion expense 26Ìý 18Ìý
Remediation payments (40) (29)
Revision in estimated cash flows 22Ìý 2Ìý
Asset retirement obligation as of December 31 $ 520Ìý $ 449Ìý