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Annual report pursuant to Section 13 and 15(d)

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.24.0.1
ASSET RETIREMENT OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2023
Environmental Remediation Obligations [Abstract] Ìý
Schedule of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
December 31,
(In millions) 2023 2022
Asset retirement obligations1
$ 459Ìý $ 520Ìý
Less: current portion 15Ìý 21Ìý
Long-term asset retirement obligations $ 444Ìý $ 499Ìý
1 Includes $259 million and $277 million related to our active operations as of DecemberÌý31, 2023 and 2022, respectively.
Roll-forward of Asset Retirement Obligation Liability
The following is a roll-forward of our asset retirement obligation:
(In millions) 2023 2022
Asset retirement obligation as of January 1 $ 520Ìý $ 449Ìý
Decrease from sale of business (76) —Ìý
Reclassification from environmental obligations —Ìý 63Ìý
Accretion expense 26Ìý 26Ìý
Remediation payments (21) (40)
Revision in estimated cash flows 10Ìý 22Ìý
Asset retirement obligation as of December 31 $ 459Ìý $ 520Ìý