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Asset Retirement Obligations and Accrued Environmental Costs (Tables)

12 Months Ended

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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- References

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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

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