Asset Retirement Obligations

3 Months Ended

Mar. 31, 2021

Asset Retirement Obligation [Abstract]

Asset Retirement Obligations

Asset Retirement Obligations

The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property, plant and equipment for the three-month periods ended March 31, 2021 and 2020 (in millions):

	Three Months Ended March 31,
	2021		2020
Carrying Amount at January 1	$	1,217	$	1,111
Liabilities Incurred	12		15
Liabilities Settled (1)	(5)		(24)
Accretion	11		11
Revisions	2		—
Carrying Amount at March 31	$	1,237	$	1,113
Current Portion	$	49	$	38
Noncurrent Portion	$	1,188	$	1,075

(1)Includes settlements related to asset sales.

The current and noncurrent portions of EOG's asset retirement obligations are included in Current Liabilities - Other and Other Liabilities, respectively, on the Condensed Consolidated Balance Sheets.