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ASSET RETIREMENT OBLIGATION

3 Months Ended

Mar. 31, 2013

12. ASSET RETIREMENT OBLIGATION

Activity related to the Company’s asset retirement obligation is as follows:

(In thousands)
Balance at December 31, 2012	$	67,016
Liabilities incurred	1,396
Liabilities settled	(195		)
Accretion expense	876
Balance at March 31, 2013	$	69,093

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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