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Provisions and other liabilities | 12 Months Ended
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Dec. 31, 2021
Provisions and other liabilities [abstract] |
Provisions and other liabilities [text block] | 21 Provisions and other liabilities (in USD million) Asset retirement obligations Claims and litigations Other provisions and liabilities Total Non-current portion at 31 December 2020 before restatement 17,200 96 2,436 19,731 Impact of ARO policy change 2,837 - - 2,837 Non-current portion at 31 December 2020 after restatement 20,037 96 2,436 22,568 Current portion at 31 December 2020 reported as Trade, other payables and provisions 92 958 1,600 2,649 Provisions and other liabilities at 31 December 2020 20,128 1,053 4,035 25,216 New or increased provisions and other liabilities 602 30 352 984 Change in estimates (1,097) (58) (141) (1,296) Amounts charged against provisions and other liabilities (125) (870) (524) (1,519) Effects of change in the discount rate (1,610) - (13) (1,623) Reduction due to divestments (359) - - (359) Accretion expenses 423 - 29 452 Reclassification and transfer (74) - 298 224 Foreign currency translation effects (471) - (5) (476) Provisions and other liabilities at 31 December 2021 17,417 155 4,031 21,603 Non-current portion at 31 December 2021 17,279 81 2,539 19,899 Current portion at 31 December 2021 reported as Trade, other payables and provisions 138 73 1,493 1,704 Due to significantly reduced expected use of a transportation agreement, Equinor provided a liability of USD 166 million in 2020 for an onerous contract. In the third quarter 2021, this provision has been settled resulting in a payment of the settled amount and reversal of the remaining amount of the provision. The reversal of the provision is reflected within the line item Operating expenses in the Consolidated statement of income. The timing of cash outflows of asset retirement obligations depends on the expected production cease at the various facilities. In certain production sharing agreements (PSA), Equinor’s estimated share of asset retirement obligation (ARO) is paid into an escrow account over the producing life of the field. These payments are considered down-payments of the liabilities and included in line item Amounts charged against provisions and other liabilities. The Claims and litigations category mainly relate to expected payments for unresolved claims. The timing and amounts of potential settlements in respect of these claims are uncertain and dependent on various factors that are outside management's control. For further information on provisions and contingent liabilities, see note 24 Other commitments, contingent liabilities and contingent assets. For further information about methods applied and estimates required, see note 2 Significant accounting policies. Line items impacted in the consolidated balance sheet (in USD million) 01.01.2020 before restatement Impact of ARO policy change 01.01.2020 after restatement 31.12.2020 before restatement Impact of ARO policy change 31.12.2020 after restatement PPE 69,953 1,798 71,751 65,672 2,836 68,508 Total non-current assets 93,285 1,798 95,083 89,786 2,836 92,623 Total assets 118,063 1,798 119,861 121,972 2,836 124,809 Provisions and other liabilities 17,951 1,798 19,749 19,731 2,837 22,568 Total non-current liabilities 57,346 1,798 59,144 68,260 2,837 71,097 Total liabilities 76,904 1,798 78,702 88,081 2,837 90,917 Expected timing of cash outflows (in USD million) Asset retirement obligations Other provisions and liabilities, including claims and litigations Total 2022 - 2026 1,180 3,014 4,194 2027 - 2031 1,597 299 1,896 2032 - 2036 4,315 248 4,563 2037 - 2041 6,152 55 6,207 Thereafter 4,173 569 4,742 At 31 December 2021 17,417 4,186 21,603

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- Definition The disclosure of provisions. [Refer: Provisions] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
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