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Registration of securities issued in business combination transactions

ASSET RETIREMENT OBLIGATIONS

v3.3.1.900
ASSET RETIREMENT OBLIGATIONS
12 Months Ended
Dec. 31, 2015
ASSET RETIREMENT OBLIGATIONS. Ìý
ASSET RETIREMENT OBLIGATIONS

Ìý

12. ASSET RETIREMENT OBLIGATIONS

ÌýÌýÌýÌýÌýÌýÌýÌýAsset retirement obligations consist primarily of landfill capping, closure and post-closure costs, asbestos abatement costs, demolition and removal costs and leasehold remediation 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.

ÌýÌýÌýÌýÌýÌýÌýÌýThe following table describes changes to our asset retirement obligation liabilities (dollars in millions):

ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý

Ìý

Ìý

DecemberÌý31,

Ìý

Ìý

Ìý

2015

Ìý

2014

Ìý

Asset retirement obligations at beginning of year

Ìý

$

26

Ìý

$

29

Ìý

Accretion expense

Ìý

Ìý

3

Ìý

Ìý

2

Ìý

Liabilities incurred

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Liabilities assumed in connection with the Rockwood Acquisition

Ìý

Ìý

30

Ìý

Ìý

�

Ìý

Liabilities settled

Ìý

Ìý

(1

)

Ìý

(2

)

Foreign currency effect on reserve balance

Ìý

Ìý

(6

)

Ìý

(3

)

�

�

â€� Ìý

â€� Ìý

�

â€� Ìý

â€� Ìý

�

Asset retirement obligations at end of year

Ìý

$

52

Ìý

$

26

Ìý

�

�

â€� Ìý

â€� Ìý

�

â€� Ìý

â€� Ìý

�

�

�

â€� Ìý

â€� Ìý

�

â€� Ìý

â€� Ìý

�

Ìý