Asset Retirement Obligations

12 Months Ended

Dec. 31, 2021

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Note 14. Asset Retirement Obligations

Asset retirement obligations consist primarily of asbestos abatement costs, demolition and removal costs, leasehold remediation costs and landfill closure costs. Venator is legally required to perform capping and closure and post-closure care on the landfills and asbestos abatement on certain of its premises. For each asset retirement obligation, Venator recognized the estimated fair value of a liability and capitalized the cost as part of the cost basis of the related asset.

The following table describes changes to Venator’s asset retirement obligation liabilities:

	December 31,
	2021		2020
Asset retirement obligations at beginning of year	$	32	$	32
Accretion expense	2		2
Change in estimate	—		(2)
Liabilities settled	(6)		—
Foreign currency effect on reserve balance	(1)		—
Asset retirement obligations at end of year	$	27	$	32