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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 | 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 years ended December 31, 2023 and 2022 ranged from 1.5% to 9.0%. A reconciliation of movements in our ARO liabilities is as follows:
December 31, | 2023 | 2022
(millions of Canadian dollars) |  |
Obligations at beginning of year | 488 |  | 502 |
Liabilities acquired | 1 |  | — |
Liabilities incurred | — |  | 30 |
Liabilities settled | (23) |  | (126) |
Change in estimate and other | 5 |  | 51 |
Foreign currency translation adjustment | (6) |  | 24 |
Accretion expense | 28 |  | 7 |
Obligations at end of year | 493 |  | 488 |
Presented as follows: |  |
Other current liabilities | 136 |  | 83 |
Other long-term liabilities | 357 |  | 405 |
| 493 |  | 488 |

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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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