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Impairments
12 Months Ended
Dec. 31, 2021
Impairments [Abstract]  
Impairments
Note 7—Impairments
During 2021, 2020 and 2019, we recognized the following
 
before-tax impairment
 
charges:
Millions of Dollars
2021
2020
2019
Alaska
$
5
-
-
Lower 48
 
(8)
804
402
Canada
6
3
2
Europe, Middle East and North Africa
 
(24)
6
1
Asia Pacific
 
695
-
-
$
674
813
405
2021
We recorded an impairment
 
of $
688
 
million on our APLNG investment included within
 
the Asia Pacific segment.
 
See
 
and
In our Lower 48 segment, we recorded
 
a credit to impairment of $
89
 
million due to a decreased ARO estimate
 
for a
previously sold asset, in which we retained
 
the ARO liability.
 
This was offset by recorded
 
impairments of $
84
million during the fourth quarter of 2021, related
 
to certain noncore assets
 
due to changes in development plans.
 
In our Europe, Middle East and North
 
Africa segment, we recorded a credit
 
to impairment of $
24
 
million due to
decreased ARO estimates on fields
 
in Norway which ceased production and
 
were fully depreciated in prior years.
 
2020
We recorded impairments
 
of $
813
 
million, primarily related to certain
 
noncore assets in the Lower 48.
 
Due to a
significant
 
decrease in the outlook for current and
 
long-term natural gas prices
 
in early 2020, we recorded
impairments of $
523
 
million, primarily for the Wind River Basin operations
 
area, consisting of developed
properties in the Madden Field and the Lost Cabin
 
Gas Plant, in the first quarter of 2020.
 
Additionally,
 
due
primarily to changes in development plans
 
solidified in the last quarter of 2020, we recognized
 
additional
impairments of $
287
 
million in the Lower 48 during the fourth
 
quarter.
 
2019
 
In the Lower 48, we recorded impairments
 
of $
402
 
million, primarily related to developed
 
properties in our
Niobrara asset which were written
 
down to fair value less costs
 
to sell.