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Quarterly report pursuant to Section 13 or 15(d)

ASSET RETIREMENT OBLIGATIONS

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ASSET RETIREMENT OBLIGATIONS
 6 Months Ended
Jun. 30, 2023
Asset Retirement Obligation [Abstract] 听
ASSET RETIREMENT OBLIGATIONS
NOTE 10 - ASSET RETIREMENT OBLIGATIONS
The accrued closure obligation provides for contractual and legal obligations related to our indefinitely idled and closed operations and for the eventual closure of our active operations. The closure date for each of our active mine sites was determined based on the exhaustion date of the remaining mineral reserves, and the amortization of the related asset and accretion of the liability is recognized over the estimated mine lives. The closure date and expected timing of the capital requirements to meet our obligations for our indefinitely idled or closed mines is determined based on the unique circumstances of each property. For indefinitely idled or closed mines, the accretion of the liability is recognized over the anticipated timing of remediation. As the majority of our asset retirement obligations at our steelmaking operations have indeterminate settlement dates, asset retirement obligations have been recorded at present values using estimated ranges of the economic lives of the underlying assets.
The following is a summary of our asset retirement obligations:
(In millions) June 30,
2023		 December 31,
2022
Asset retirement obligations1
$ 525听 $ 520听
Less: current portion 21听 21听
Long-term asset retirement obligations $ 504听 $ 499听
1 Includes $278 million and $277 million related to our active operations as of June听30, 2023 and December听31, 2022, respectively.
The following is a roll forward of our asset retirement obligation liability:
(In millions) 2023 2022
Asset retirement obligation as of January 1 $ 520听 $ 449听
Accretion expense 13听 15听
Reclassification from environmental obligations 鈥�听 63听
Revision in estimated cash flows 1听 21听
Remediation payments (9) (16)
Asset retirement obligation as of June 30 $ 525听 $ 532听