Asset Retirement Obligations

9 Months Ended

Sep. 30, 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 nine-month periods ended September 30, 2022 and 2021 (in millions):

	Nine Months Ended September 30,
	2022		2021
Carrying Amount at January 1	$	1,231	$	1,217
Liabilities Incurred	83		55
Liabilities Settled (1)	(178)		(83)
Accretion	32		33
Revisions	102		(7)
Foreign Currency Translation	(5)		—
Carrying Amount at September 30	$	1,265	$	1,215
Current Portion	$	38	$	54
Noncurrent Portion	$	1,227	$	1,161

(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.