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Quarterly report [Sections 13 or 15(d)]

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.25.1
ASSET RETIREMENT OBLIGATIONS (Tables)
3 Months Ended
Mar. 31, 2025
Asset Retirement Obligation [Abstract] Ìý
Summary of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
(In millions) March 31,
2025
December 31,
2024
Asset retirement obligations1
$ 525Ìý $ 526Ìý
Less: current portion 19Ìý 25Ìý
Long-term asset retirement obligations $ 506Ìý $ 501Ìý
1 Includes $305 million and $302 million related to our active operations as of MarchÌý31, 2025 and DecemberÌý31, 2024, respectively.
Schedule of Change in Asset Retirement Obligation
The following is a roll-forward of our asset retirement obligations:
(In millions) 2025 2024
Asset retirement obligations as of January 1 $ 526Ìý $ 459Ìý
Accretion expense 7Ìý 5Ìý
Revision in estimated cash flows —Ìý 48Ìý
Remediation payments (8) (2)
Asset retirement obligations as of March 31 $ 525Ìý $ 510Ìý
During the first quarter of 2024, we announced the indefinite idle of our Weirton tinplate production plant, resulting in an increase to our asset retirement obligations as a result of acceleration of the timing and refinement in the cost of required remediation.
Schedule of Environmental Obligations
The following is a summary of our environmental obligations:
(In millions) March 31,
2025
December 31,
2024
Environmental obligations $ 113Ìý $ 114Ìý
Less: current portion 11Ìý 14Ìý
Long-term environmental obligations $ 102Ìý $ 100Ìý