Quarterly report pursuant to Section 13 or 15(d)

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.23.3
ASSET RETIREMENT OBLIGATIONS (Tables)
9 Months Ended
Sep. 30, 2023
Asset Retirement Obligation [Abstract]  
Summary of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
(In millions) September 30,
2023
December 31,
2022
Asset retirement obligations1
$ 522  $ 520 
Less: current portion 17  21 
Long-term asset retirement obligations $ 505  $ 499 
1 Includes $275 million and $277 million related to our active operations as of September 30, 2023 and December 31, 2022, respectively.
Schedule of Change in Asset Retirement Obligation
The following is a roll forward of our asset retirement obligation liability:
(In millions) 2023 2022
Asset retirement obligation as of January 1 $ 520  $ 449 
Accretion expense 19  21 
Reclassification from environmental obligations   63 
Revision in estimated cash flows   22 
Remediation payments (17) (33)
Asset retirement obligation as of September 30 $ 522  $ 522