Asset Retirement Obligations

3 Months Ended

Mar. 31, 2022

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, 2022 and 2021 (in millions):

	Three Months Ended March 31,
	2022		2021
Carrying Amount at January 1	$	1,231	$	1,217
Liabilities Incurred	20		12
Liabilities Settled (1)	(131)		(5)
Accretion	11		11
Revisions	2		2
Carrying Amount at March 31	$	1,133	$	1,237
Current Portion	$	41	$	49
Noncurrent Portion	$	1,092	$	1,188

(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.