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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Summary of the activity of capitalized exploratory well costs for continuing operations
The following table summarizes the activity of capitalized exploratory well costs for continuing operations for the years ended December 31:
in millions
 
2018
 
2017
 
2016
Balance — Beginning of Year
 
$
108

 
$
56

 
$
76

Additions to capitalized exploratory well costs pending the determination of proved reserves
 
220

 
201

 
29

Reclassifications to property, plant and equipment based on the determination of proved reserves
 
(198
)
 
(128
)
 
(28
)
Capitalized exploratory well costs charged to expense
 
(18
)
 
(21
)
 
(21
)
Balance — End of Year
 
$
112

 
$
108

 
$
56
Summary of the activity of the asset retirement obligation
The following table summarizes the activity of the asset retirement obligations, of which $1.4 billion and $1.2 billion is included in deferred credits and other liabilities - asset retirement obligations as of December 31, 2018 and 2017, respectively, with the remaining current portion in accrued liabilities.
For the years ended December 31, (in millions)
 
2018
 
2017
Beginning balance
 
$
1,312

 
$
1,369

Liabilities incurred – capitalized to PP&E
 
31

 
46

Liabilities settled and paid
 
(40
)
 
(39
)
Accretion expense
 
67

 
67

Acquisitions, dispositions and other – changes in PP&E
 
(18
)
 
(136
)
Revisions to estimated cash flows – changes in PP&E
 
147

 
5

Ending balance
 
$
1,499

 
$
1,312