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ASSET RETIREMENT OBLIGATIONS | 12 Months Ended
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Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract] |
ASSET RETIREMENT OBLIGATIONS | ASSET RETIREMENT OBLIGATIONS Our ARO relate mostly to the retirement of pipelines, renewable power generation assets and obligations related to right-of way agreements and contractual leases for land use. The discount rates used to estimate the present value of the expected future cash flows for the year ended December 31, 2022 ranged from 1.5% to 9.0% (2021 - 0.9% to 9.0%). A reconciliation of movements in our ARO liabilities is as follows:
December 31, | 2022 | 2021
(millions of Canadian dollars) |  |
Obligations at beginning of year | 502 |  | 496 |
Liabilities incurred | 30 |  | — |
Liabilities settled | (126) |  | (67) |
Change in estimate and other | 51 |  | 70 |
Foreign currency translation adjustment | 24 |  | (3) |
Accretion expense | 7 |  | 6 |
Obligations at end of year | 488 |  | 502 |
Presented as follows: |  |
Accounts payable and other | 83 |  | 160 |
Other long-term liabilities | 405 |  | 342 |
| 488 |  | 502 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7569-110849 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2175671 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 + Details
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