ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2023

Asset Retirement Obligation Disclosure [Abstract]

Our ARO relate mostly to the retirement of pipelines, renewable power generation assets and obligations related to right-of way agreements and contractual leases for land use.

The discount rates used to estimate the present value of the expected future cash flows for the years ended December 31, 2023 and 2022 ranged from 1.5% to 9.0%.

A reconciliation of movements in our ARO liabilities is as follows:


December 31,	2023	2022
(millions of Canadian dollars)
Obligations at beginning of year	488	502
Liabilities acquired	1	—

Liabilities incurred	—	30
Liabilities settled	(23)	(126)
Change in estimate and other	5	51
Foreign currency translation adjustment	(6)	24
Accretion expense	28	7
Obligations at end of year	493	488
Presented as follows:
Other current liabilities	136	83
Other long-term liabilities	357	405
	493	488