Asset Retirement Obligations

9 Months Ended

Sep. 30, 2012

Note 5 – Asset Retirement Obligations

The change in our asset retirement obligations during the nine months ended September 30, 2012 is set forth below:


	Nine Months Ended September 30, 2012
	(in millions)
Asset retirement obligations as of the beginning of the period, including current portion	$	425.8
Liabilities settled		(47.2	)
Liabilities assumed		14.5
Divestment of properties		(7.6	)
Accretion expense		24.9

Asset retirement obligations as of the end of the period, including current portion	$	410.4

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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