Assets Retirement Obligations and Accrued Environmental Costs

12 Months Ended

Dec. 31, 2019

Assets Retirement Obligations and Accrued Environmental Costs [Abstract]

Asset Retirement Obligations and Accrued Environmental Costs

Note 14—Asset Retirement Obligations and Accrued Environmental Costs

Asset retirement obligations and accrued environmental costs at December 31 were:

	Millions of Dollars
	2019			2018
Asset retirement obligations	$	11		11
Accrued environmental costs	3			2
Total asset retirement obligations and accrued environmental costs	14			13
Asset retirement obligations and accrued environmental costs due within one year	(1		)	(1	)
Long-term asset retirement obligations and accrued environmental costs	$	13		12

Asset Retirement Obligations

We have asset retirement obligations we are required to perform under law or contract once an asset is permanently taken out of service. These obligations primarily relate to the abandonment or removal of certain pipelines. Most of these obligations are not expected to be paid until many years in the future.

During 2019 and 2018, our asset retirement obligations changed as follows:

 

	Millions of Dollars
	2019		2018
Balance at January 1	$	11	10
Accretion of discount	—		1
New obligations	—		—
Changes in estimates of existing obligations	—		—
Balance at December 31	$	11	11