Asset retirement obligations

12 Months Ended

Dec. 31, 2025

Asset Retirement Obligation Disclosure [Abstract]

12. Asset retirement obligations

Asset retirement obligations (AROs) are legal obligations associated with the retirement of long-lived assets, including legal obligations for land reclamation. Recognition of a liability for an ARO is required in the period in which it is incurred at its estimated fair value. The associated asset retirement costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the estimated useful life of the asset. The liability is accreted through charges to Cost of revenues. If the ARO is settled for other than the carrying amount of the liability, a gain or loss on settlement is recognized.

ARO costs related to accretion of the Company’s liabilities and the depreciation of the related assets for the years ended December 31 were:


in $ millions	2025	2024	2023
Accretion	11	9	12
Depreciation	33	12	27
Total costs	44	21	39

AROs are reported within Other current liabilities and Other noncurrent liabilities in the Consolidated Balance Sheets. As of December 31, 2025 and 2024, the carrying amount of the Company’s AROs were $436 million and $385 million, of which, $79 million and $66 million are current, respectively.