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Noncurrent Other Liabilities
 12 Months Ended
Dec. 31, 2013
Other Liabilities, Noncurrent [Abstract]  
Noncurrent Other Liabilities
Noncurrent Other Liabilities
 
As of December 31,
 
2013
 
2012
 
(In $ millions)
Environmental (Note 15)
67

 
78

Insurance
50

 
58

Deferred revenue
28

 
36

Deferred proceeds(1)
53

 
909

Asset retirement obligations
18

 
26

Derivatives (Note 21)
3

 
8

Restructuring (Note 17)
2

 
—

Income taxes payable
20

 
2

Other
46

 
35

Total
287

 
1,152

______________________________
(1)
Proceeds received from the Frankfurt, Germany Airport as part of a settlement for the Company to cease operations and sell its Kelsterbach, Germany manufacturing site, included in the Advanced Engineered Materials segment, were recognized during the three months ended December 31, 2013 (Note 27).
Changes in asset retirement obligations are as follows:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(In $ millions)
Balance at beginning of year
64

 
64

 
77

Additions(1)
5

 
3

 
—

Accretion
2

 
3

 
3

Payments
(23
)
 
(12
)
 
(10
)
Revisions to cash flow estimates(2)
(2
)
 
5

 
(5
)
Exchange rate changes
1

 
1

 
(1
)
Balance at end of year
47

 
64

 
64

______________________________
(1) 
Primarily relates to sites which management no longer considers to have an indeterminate life.
(2) 
Primarily relates to revisions to the estimated cost and timing of future obligations.
Included in the asset retirement obligations for the years ended December 31, 2013 and 2012 is $10 million and $10 million, respectively, related to indemnifications received for a business acquired in 2005. The Company has a corresponding receivable of $5 million in Non-trade receivables, net and $5 million included in noncurrent Other assets in the consolidated balance sheet as of December 31, 2013.
Periodically, the Company will conclude a site no longer has an indeterminate life based on long-lived asset impairment triggering events and decisions made by the Company. Accordingly, the Company will record asset retirement obligations associated with such sites. To measure the fair value of the asset retirement obligations, the Company will use the expected present value technique, which is classified as a Level 3 measurement under FASB ASC Topic 820. The expected present value technique uses a set of cash flows that represent the probability-weighted average of all possible cash flows based on the Company's judgment. The Company uses the following inputs to determine the fair value of the asset retirement obligations based on the Company's experience with fulfilling obligations of this type and the Company's knowledge of market conditions: a) labor costs; b) allocation of overhead costs; c) profit on labor and overhead costs; d) effect of inflation on estimated costs and profits; e) risk premium for bearing the uncertainty inherent in cash flows, other than inflation; f) time value of money represented by the risk-free interest rate commensurate with the timing of the associated cash flows; and g) nonperformance risk relating to the liability, which includes the Company's own credit risk.
The Company has identified but not recognized asset retirement obligations related to certain of its existing operating facilities. Examples of these types of obligations include demolition, decommissioning, disposal and restoration activities. Legal obligations exist in connection with the retirement of these assets upon closure of the facilities or abandonment of the existing operations. However, the Company currently plans on continuing operations at these facilities indefinitely and therefore, a reasonable estimate of fair value cannot be determined at this time. In the event the Company considers plans to abandon or cease operations at these sites, an asset retirement obligation will be reassessed at that time. If certain operating facilities were to close, the related asset retirement obligations could significantly affect the Company's results of operations and cash flows.