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ASSET RETIREMENT OBLIGATION
 12 Months Ended
Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]  
ASSET RETIREMENT OBLIGATION ASSET RETIREMENT OBLIGATION
The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the years ended December 31, 2019 and 2018:
 
 
 
2019
 
2018
 
 
(In millions)
Asset retirement obligation at beginning of year
 
$
1,932

 
$
1,835

Liabilities incurred
 
41

 
51

Liabilities divested
 
(56
)
 
—

Liabilities settled
 
(56
)
 
(52
)
Accretion expense
 
107

 
108

Revisions in estimated liabilities
 
(110
)
 
(10
)
Asset retirement obligation at end of year
 
1,858

 
1,932

Less current portion
 
(47
)
 
(66
)
Asset retirement obligation, long-term
 
$
1,811

 
$
1,866


The ARO liability reflects the estimated present value of the amount of dismantlement, removal, site reclamation, and similar activities associated with Apache’s oil and gas properties and other long-lived assets. The Company utilizes current retirement costs to estimate the expected cash outflows for retirement obligations. The Company estimates the ultimate productive life of the properties, a risk-adjusted discount rate, and an inflation factor in order to determine the current present value of this obligation. To the extent future revisions to these assumptions impact the present value of the existing ARO liability, a corresponding adjustment is made to the oil and gas property or other long-lived asset balance.

During 2019 and 2018, the Company recorded $41 million and $51 million, respectively, in abandonment liabilities resulting from Apache’s exploration and development capital program. Liabilities settled primarily relate to individual properties, platforms, and facilities plugged and abandoned during the period. During 2019, approximately $110 million net abandonment costs were revised downward to reflect changes in estimates of timing and costs, primarily in the North Sea. During 2018, approximately $10 million of abandonment costs were revised downward, primarily in the U.S. and North Sea.