Asset Retirement Obligations

12 Months Ended

Dec. 31, 2011

Asset Retirement Obligation [Abstract]

Asset Retirement Obligations

Asset Retirement Obligations

The Company records obligations related to the plugging and abandonment of natural gas and oil wells, decommissioning of certain electric generating facilities, reclamation of certain aggregate properties, special handling and disposal of hazardous materials at certain electric generating facilities, natural gas distribution facilities and buildings, and certain other obligations.

A reconciliation of the Company's liability, which is included in other liabilities, for the years ended December 31 was as follows:

	2011			2010
	(In thousands)
Balance at beginning of year	$	95,970		$	76,359
Liabilities incurred	3,870			8,608
Liabilities acquired	—			5,272
Liabilities settled	(10,418		)	(10,740		)
Accretion expense	4,466			3,588
Revisions in estimates	3,921			12,621
Other	342			262
Balance at end of year	$	98,151		$	95,970

The Company believes that any expenses related to asset retirement obligations at the Company's regulated operations will be recovered in rates over time and, accordingly, defers such expenses as regulatory assets.

The fair value of assets that are legally restricted for purposes of settling asset retirement obligations at December 31, 2011 and 2010, was $5.7 million and $5.7 million, respectively.