ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2020

Asset Retirement Obligation [Abstract]

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS

The changes in the carrying amount of the Company’s asset retirement obligations were as follows:

	2020		2019
Beginning balance as of January 1,	$	1,384.1	$	1,210.0
Additions	94.2		61.8
Accretion expense	90.8		81.6
Revisions in estimates (1)	8.3		56.8
Settlements	(6.1)		(26.1)
Balance as of December 31,	$	1,571.3	$	1,384.1

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(1)Revisions in estimates include decreases to the liability of $42.1 million and $6.7 million related to foreign currency translation for the years ended December 31, 2020 and 2019, respectively.

As of December 31, 2020, the estimated undiscounted future cash outlay for asset retirement obligations was $3.7 billion.