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]  
Schedule of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
December 31,
(In millions) 2022 2021
Asset retirement obligations1
$ 520  $ 449 
Less: current portion 21  35 
Long-term asset retirement obligations $ 499  $ 414 
1 Includes $277 million and $293 million related to our active operations as of December 31, 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 $ 449  $ 342 
Increase from acquisitions   116 
Reclassification from environmental obligations 63  — 
Accretion expense 26  18 
Remediation payments (40) (29)
Revision in estimated cash flows 22 
Asset retirement obligation as of December 31 $ 520  $ 449