乐天堂fun88(中国区)官方网站 Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2011

ASSET RETIREMENT OBLIGATIONS

听

ASSET RETIREMENT OBLIGATIONS

12. ASSET RETIREMENT OBLIGATIONS

听听听听听听听听Asset retirement obligations consist primarily of landfill capping, closure and post-closure costs and asbestos abatement costs. We are legally required to perform capping and closure and post-closure care on the landfills and asbestos abatement on certain of our premises. For each asset retirement obligation we recognized the estimated fair value of a liability and capitalized the cost as part of the cost basis of the related asset.

听听听听听听听听The following table describes changes to our asset retirement obligation liabilities, all of which were recorded in other noncurrent liabilities on the accompanying balance sheets (dollars in millions):

听	听	December听31,					听

听	听	2011		听	2010		听
Asset retirement obligation at beginning of year	听	$	24	听	$	21	听
Accretion expense	听	听	2	听	听	1	听
Liabilities incurred	听	听	鈥�	听	听	1	听
Liabilities assumed in connection with the consolidation of a variable interest entity	听	听	2	听	听	鈥�	听
Liabilities settled	听	听	(1	)	听	鈥�	听
Foreign currency effect on reserve balance	听	听	(1	)	听	1	听
听	听	听		听	听		听
Asset retirement obligation at end of year	听	$	26	听	$	24	听
听	听	听		听	听		听

- 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.

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