Quarterly report [Sections 13 or 15(d)]

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.25.1
ASSET RETIREMENT OBLIGATIONS (Tables)
3 Months Ended
Mar. 31, 2025
Asset Retirement Obligation [Abstract]  
Summary of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
(In millions) March 31,
2025
December 31,
2024
Asset retirement obligations1
$ 525  $ 526 
Less: current portion 19  25 
Long-term asset retirement obligations $ 506  $ 501 
1 Includes $305 million and $302 million related to our active operations as of March 31, 2025 and December 31, 2024, respectively.
Schedule of Change in Asset Retirement Obligation
The following is a roll-forward of our asset retirement obligations:
(In millions) 2025 2024
Asset retirement obligations as of January 1 $ 526  $ 459 
Accretion expense 7 
Revision in estimated cash flows   48 
Remediation payments (8) (2)
Asset retirement obligations as of March 31 $ 525  $ 510 
During the first quarter of 2024, we announced the indefinite idle of our Weirton tinplate production plant, resulting in an increase to our asset retirement obligations as a result of acceleration of the timing and refinement in the cost of required remediation.
Schedule of Environmental Obligations
The following is a summary of our environmental obligations:
(In millions) March 31,
2025
December 31,
2024
Environmental obligations $ 113  $ 114 
Less: current portion 11  14 
Long-term environmental obligations $ 102  $ 100