XML 38 R20.htm IDEA: XBRL DOCUMENT v3.7.0.1
Asset Retirement Obligations
3 Months Ended
Mar. 31, 2017
Asset Retirement Obligations [Abstract]  
Asset Retirement Obligations
12.
Asset Retirement Obligations

Asset retirement obligations consist primarily of rehabilitation and restoration costs, landfill capping costs, decommissioning costs, and closure and post-closure costs. Activity related to asset retirement obligations was as follows:

  
Three Months
Ended March 31,
 
  
2017
  
2016
 
Balance, January 1,
 
$
76
  
$
81
 
Accretion expense
  
1
   
1
 
Remeasurement/translation
  
3
   
4
 
Changes in estimates, including cost and timing of cash flows
  
   
1
 
Settlements/payments
  
(1
)
  
 
Balance, March 31,
 
$
79
  
$
87
 

Asset retirement obligations were classified as follows:

  
March 31,
2017
  
December 31,
2016
 
Current portion included in “Accrued liabilities”
 
$
5
  
$
3
 
Noncurrent portion included in “Asset retirement obligations”
  
74
   
73
 
Asset retirement obligations
 
$
79
  
$
76
 

Environmental Rehabilitation Trust

In accordance with applicable regulations, we have established an environmental rehabilitation trust for the prospecting and mining operations in South Africa, which receives, holds, and invests funds for the rehabilitation or management of asset retirement obligations. The trustees of the fund are appointed by us, and consist of sufficiently qualified employees capable of fulfilling their fiduciary duties. At March 31, 2017 and December 31, 2016, the environmental rehabilitation trust assets were $14 million and $13 million, respectively, which were recorded in “Other long-term assets” in the unaudited Condensed Consolidated Balance Sheets.