Quarterly report [Sections 13 or 15(d)]

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.25.2
ASSET RETIREMENT OBLIGATIONS (Tables)
6 Months Ended
Jun. 30, 2025
Asset Retirement Obligation [Abstract]  
Summary of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
(In millions) June 30,
2025
December 31,
2024
Asset retirement obligations1
$ 534  $ 526 
Less: current portion 21  25 
Long-term asset retirement obligations $ 513  $ 501 
1 Includes $308 million and $302 million related to our active operations as of June 30, 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 15  11 
Revision in estimated cash flows 5  50 
Remediation payments (12) (14)
Asset retirement obligations as of June 30 $ 534  $ 506 
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 required.
Schedule of Environmental Obligations
The following is a summary of our environmental obligations:
(In millions) June 30,
2025
December 31,
2024
Environmental obligations $ 112  $ 114 
Less: current portion 12  14 
Long-term environmental obligations $ 100  $ 100