4. Landfill and Environmental Remediation Liabilities

Liabilities for landfill and environmental remediation costs are presented in the table below (in millions):


	December 31, 2014						December 31, 2013
	Landfill		Environmental Remediation		Total		Landfill		Environmental Remediation		Total
Current (in accrued liabilities)	$	104	$	43	$	147	$	95	$	35	$	130
Long-term		1,339		192		1,531		1,326		192		1,518

	$	1,443	$	235	$	1,678	$	1,421	$	227	$	1,648

The changes to landfill and environmental remediation liabilities for the years ended December 31, 2013 and 2014 are reflected in the table below (in millions):


	Landfill			Environmental Remediation
December 31, 2012	$	1,338		$	253
Obligations incurred and capitalized		59			—
Obligations settled		(71	)		(20	)
Interest accretion		87			4
Revisions in estimates and interest rate assumptions(a)(b)		6			(6	)
Acquisitions, divestitures and other adjustments		2			(4	)

December 31, 2013	$	1,421		$	227
Obligations incurred and capitalized		54			—
Obligations settled		(69	)		(21	)
Interest accretion		88			5
Revisions in estimates and interest rate assumptions(a)(b)		(9	)		25
Acquisitions, divestitures and other adjustments(c)		(42	)		(1	)

December 31, 2014	$	1,443		$	235

(a)

The amounts reported for our landfill liabilities include a reduction of approximately $20 million for 2013 and an increase of approximately $2 million for 2014, related to our year-end annual review of landfill final capping, closure and post-closure obligations. The amount reported in 2013 also includes an increase of approximately $23 million due to the acceleration of the timing of closure and post-closure activities at two of our landfills related to landfill asset impairments, discussed further in Note 13.

(b)

The amount reported in 2013 for our environmental remediation liabilities includes the impact of an increase in the risk-free discount rate used to measure our liabilities from 1.75% at December 31, 2012 to 3.0% at December 31, 2013, resulting in a decrease of $18 million to our environmental remediation liabilities and a corresponding decrease to “Operating” expenses.

The amount reported in 2014 for environmental remediation liabilities includes the impact of a decrease in the risk-free discount rate used to measure our liabilities from 3.0% at December 31, 2013 to 2.0% at December 31, 2014, resulting in an increase of $13 million to our environmental remediation liabilities and a corresponding increase to “Operating” expenses.

(c)	The amounts reported for our 2014 landfill liabilities include reductions of approximately $25 million for divestitures, including the divestiture of our Wheelabrator business.

Our recorded liabilities as of December 31, 2014 include the impacts of inflating certain of these costs based on our expectations for the timing of cash settlement and of discounting certain of these costs to present value. Anticipated payments of currently identified environmental remediation liabilities as measured in current dollars are $43 million in 2015, $26 million in 2016, $26 million in 2017, $24 million in 2018, $12 million in 2019 and $98 million thereafter.

At several of our landfills, we provide financial assurance by depositing cash into restricted trust funds or escrow accounts for purposes of settling final capping, closure, post-closure and environmental remediation obligations. Generally, these trust funds are established to comply with statutory requirements and operating agreements. See Note 20 for additional information related to these trusts.