Asset Retirement Obligations

12 Months Ended

Dec. 31, 2018

Asset Retirement Obligation [Abstract]

Decommissioning and Other Asset Retirement Obligations

SSET RETIREMENT OBLIGATIONS

We operate facilities in various U.S. and foreign locations that are used in the manufacture, storage, and sale of our products, inventories, and equipment. These facilities are a combination of owned and leased assets. We are required to take certain actions in connection with the retirement of these assets. The values of our asset retirement obligations for these properties were $12.2 million and $11.7 million as of December 31, 2018 and 2017, respectively. Asset retirement obligations are recorded in accordance with ASC 410, "Asset Retirement and Environmental Obligations," whereby the estimated fair value of a liability for asset retirement obligations is recognized in the period in which it is incurred and in which a reasonable estimate can be made. Such estimates are based on relevant assumptions that we believe are reasonable. We have reviewed our obligations in this regard in detail and estimated the cost of these actions. The associated asset retirement costs are capitalized as part of the carrying amount of these long-lived assets and are depreciated on a straight-line basis over the life of the assets.

The changes in the values of our asset retirement obligations during the most recent two year period areas follows:

	Year Ended December 31,
	2018			2017
	(In Thousands)
Beginning balance for the period, as reported	$	11,738		$	9,912
Activity in the period:
Accretion of liability	563			624
Retirement obligations incurred	59			265
Revisions in estimated cash flows	(123		)	1,349
Settlement of retirement obligations	(35		)	(412		)
Ending balance	$	12,202		$	11,738

We review the adequacy of our asset retirement obligation liabilities whenever indicators suggest that the estimated cash flows underlying the liabilities have changed.