Annual report pursuant to Section 13 and 15(d)

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.6.0.2
ASSET RETIREMENT OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2016
ASSET RETIREMENT OBLIGATIONS  
Schedule of changes to asset retirement obligation liabilities

        The following table describes changes to our asset retirement obligation liabilities (dollars in millions):

                                                                                                                                                                                    

 

 

December 31,

 

 

 

2016

 

2015

 

Asset retirement obligations at beginning of year

 

$

52

 

$

26

 

Accretion expense

 

 

2

 

 

3

 

Liabilities assumed in connection with the Rockwood Acquisition

 

 

 

 

30

 

Liabilities settled

 

 

(4

)

 

(1

)

Foreign currency effect on reserve balance

 

 

(2

)

 

(6

)

​  

​  

​  

​  

Asset retirement obligations at end of year

 

$

48

 

$

52

 

​  

​  

​  

​  

​  

​  

​  

​