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Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations 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:
Year Ended December 31,
20252024
Balance, January 1$186 $186 
Additions4 9 
Accretion expense21 20 
Remeasurement/translation17 (16)
Changes in estimates, including cost and timing of cash flows 1
(4)— 
Settlements/payments(9)(13)
Balance, December 31$215 $186 
1 - Changes in estimates, including cost and timing of cash flows includes a charge of $11 million related to the Botlek plant closure and $1 million related to the Fuzhou plant closure, both recorded in "Restructuring and other charges" on the Consolidated Statements of Operations for the year ended December 31, 2025. Refer to note 3 for further details.
December 31,
20252024
Asset retirement obligations were classified as follows:
Current portion included in “Accrued liabilities”$17 $14 
Noncurrent portion included in “Asset retirement obligations”198 172 
Asset retirement obligations$215 $186 
We used the following assumptions in determining asset retirement obligations at December 31, 2025: inflation rates between 1.6% - 5.5% per year; credit adjusted risk-free interest rates between 5.0% -20.1%; the life of mines from less than 1 to 45 years and the useful life of assets between 3-42 years.
Environmental Rehabilitation Scheme
In accordance with applicable regulations, we established an environmental rehabilitation scheme for the prospecting and mining operations in South Africa, which receives, holds, and invests funds for the rehabilitation or management of asset retirement obligations. At December 31, 2025 and 2024, the total value of the assets held in the environmental rehabilitation scheme were $19 million and $16 million, respectively, which were recorded in “Other long-term assets” in the Consolidated Balance Sheets.