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Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2014
Asset Retirement Obligation Disclosure [Abstract]  
Changes to Corporation's Asset Retirement Obligations

The following table describes changes to the Corporation’s asset retirement obligations:

 

  

2014

 

  

2013

 

 

  

(In millions)

 

Asset retirement obligations at January 1

  

$

2,772

 

  

$

2,661

 

Liabilities incurred

  

 

63

 

  

 

42

 

Liabilities settled or disposed of

  

 

(420

) 

  

 

(576

) 

Accretion expense

  

 

136

 

  

 

129

 

Revisions of estimated liabilities

  

 

263

 

  

 

573

 

Foreign currency translation

  

 

(91

) 

  

 

(57

) 

Asset retirement obligations at December 31

  

 

2,723

 

  

 

2,772

 

Less: Current obligations

  

 

442

 

  

 

523

 

Long-term obligations at December 31

  

$

2,281

 

  

$

2,249