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Asset Retirement Obligations and Accrued Environmental Costs (Tables) | 12 Months Ended
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Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations and Accrued Environmental Costs | Asset retirement obligations and accrued environmental costs at December 31 were:
| Millions of Dollars
| 2023 | 2022
Asset retirement obligations | $ | 7,227 |  | 6,380 |
Accrued environmental costs | 184 |  | 182 |
Total asset retirement obligations and accrued environmental costs | 7,411 |  | 6,562 |
Asset retirement obligations and accrued environmental costs due within one year* | (191) |  | (161) |
Long-term asset retirement obligations and accrued environmental costs | $ | 7,220 |  | 6,401 |
Changes in Asset Retirement Obligation | During 2023 and 2022, our overall ARO changed as follows:
| Millions of Dollars
| 2023 | 2022
Balance at January 1 | $ | 6,380 |  | 5,926 |
Accretion of discount | 278 |  | 245 |
New obligations | 257 |  | 144 |
Changes in estimates of existing obligations | 484 |  | 681 |
Spending on existing obligations | (119) |  | (231) |
Property dispositions | (27) |  | (203) |
Foreign currency translation | (26) |  | (182) |
Balance at December 31 | $ | 7,227 |  | 6,380 |

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- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-1 + Details
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