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Asset Retirement Obligations (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Summary of Changes in AROs

The changes in AROs during the six months ended June 30, 2013 were as follows:

 

     June 30, 2013     December 31, 2012  

Beginning balance

   $ 113      $ 30   

Additions

     2        7   

Accretion expense

     2        5   

Changes in estimates, including cost and timing of cash flows

     (14     11   

Settlements/payments

     —          (1

AROs acquired in the acquisition of mineral sands business

     —          61   
  

 

 

   

 

 

 

Ending balance

   $ 103      $ 113   
  

 

 

   

 

 

 

Current portion included in accrued liabilities

   $ 7      $ 7   
  

 

 

   

 

 

 

Noncurrent portion

   $ 96      $ 106   
  

 

 

   

 

 

 

A summary of the changes in the AROs during the year ended December 31, 2012 is as follows:

 

     Successor           Predecessor  
     Year
Ended
December 31,
2012
    Eleven Months
Ended
December 31,
2011
          One Month
Ended
January 31,
2011
 

Beginning balance

   $ 30      $ 29           $ 19   

Additions

     7        —              —    

Accretion expense

     5        2             —    

Changes in estimates, including cost and timing of cash flows

     9        1             —    

Settlements/payments

     (1     (2          —    

AROs acquired in the acquisition of the mineral sands business

     58        —              —    

Fresh-start adjustments

     —         —              10   
  

 

 

   

 

 

        

 

 

 

Ending balance

   $ 108      $ 30           $ 29   
  

 

 

   

 

 

        

 

 

 

Current portion included in accrued liabilities

   $ 2      $ 1           $ 1   
  

 

 

   

 

 

        

 

 

 

Noncurrent portion

   $ 106      $ 29           $ 28   
  

 

 

   

 

 

        

 

 

 
Summary of AROs by Country

AROs, by geographic region, were as follows:

 

     June 30, 2013      December 31, 2012  

Australia

   $ 59       $ 67   

South Africa

     32         34   

The Netherlands

     11         11   

United States

     1         1   
  

 

 

    

 

 

 

Total

   $ 103       $ 113   
  

 

 

    

 

 

 

A summary of the AROs is included in the table below:

 

Australia

   $ 62   

South Africa

     34   

Botlek

     11   

Hamilton

     1   
  

 

 

 

Total AROs

   $ 108