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]  
Schedule of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
December 31,
(In millions) 2023 2022
Asset retirement obligations1
$ 459  $ 520 
Less: current portion 15  21 
Long-term asset retirement obligations $ 444  $ 499 
1 Includes $259 million and $277 million related to our active operations as of December 31, 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 $ 520  $ 449 
Decrease from sale of business (76) — 
Reclassification from environmental obligations   63 
Accretion expense 26  26 
Remediation payments (21) (40)
Revision in estimated cash flows 10  22 
Asset retirement obligation as of December 31 $ 459  $ 520