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Quarterly report pursuant to Section 13 or 15(d)

ASSET RETIREMENT OBLIGATIONS

v3.22.2.2
ASSET RETIREMENT OBLIGATIONS
 9 Months Ended
Sep. 30, 2022
Asset Retirement Obligation [Abstract] Ìý
ASSET RETIREMENT OBLIGATIONS
NOTE 12 - ASSET RETIREMENT OBLIGATIONS
The following is a summary of our asset retirement obligations:
(In Millions)
September 30,
2022		 December 31,
2021
Asset retirement obligations1
$ 522Ìý $ 449Ìý
Less: current portion 17Ìý 35Ìý
Long-term asset retirement obligations $ 505Ìý $ 414Ìý
1 Includes $279 million and $293 million related to our active operations as of SeptemberÌý30, 2022 and DecemberÌý31, 2021, respectively.
The accrued closure obligation provides for contractual and legal obligations related to our indefinitely idled and closed operations and for the eventual closure of our active operations. The closure date for each of our active mine sites was determined based on the exhaustion date of the remaining mineral reserves, and the amortization of the related asset and accretion of the liability is recognized over the estimated mine lives. The closure date and expected timing of the capital requirements to meet our obligations for our indefinitely idled or closed mines is determined based on the unique circumstances of each property. For indefinitely idled or closed mines, the accretion of the liability is recognized over the anticipated timing of remediation. As the majority of our asset retirement obligations at our steelmaking operations have indeterminate settlement dates, asset retirement obligations have been recorded at present values using estimated ranges of the economic lives of the underlying assets.
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 —Ìý 57Ìý
Accretion expense 21Ìý 13Ìý
Reclassification from environmental obligations 63Ìý —Ìý
Revision in estimated cash flows 22Ìý —Ìý
Remediation payments (33) (20)
Asset retirement obligation as of September 30 $ 522Ìý $ 392Ìý
The increase from revision in estimated cash flows primarily relates to rising electricity costs associated with required water management systems related to closed coal mines in Pennsylvania.