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Asset retirement obligations | 12 Months Ended
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Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract] |
Asset retirement obligations | 13. Asset retirement obligations Asset retirement obligations (AROs) are legal obligations associated with the retirement of long-lived assets, including legal obligations for land reclamation. Recognition of a liability for an ARO is required in the period in which it is incurred at its estimated fair value. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the estimated useful life of the asset. The liability is accreted through charges to Cost of revenues. If the ARO is settled for other than the carrying amount of the liability, a gain or loss on settlement is recognized. ARO costs related to accretion of the Company’s liabilities and the depreciation of the related assets for the years ended December 31 were:
in $ millions | 2023 | 2022 | 2021
Accretion | 12 | 11 | 12
Depreciation | 27 | 46 | 42
Total costs | 39 | 57 | 54
AROs are reported within Other current liabilities and Other noncurrent liabilities in the Company’s accompanying Consolidated Balance Sheets. At December 31, 2023 and 2022, the carrying amount of the Company’s AROs were $360 million and $392 million, of which, $50 million and $63 million are current, respectively.

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//410-20/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 20 -Topic 410 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-2 + Details
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