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Chapter 4 — Accounting for Asset Retirement Obligations

4.8 Disclosure

4.8 Disclosure

ASC 410-20
50-1 An entity shall disclose all of the following information about its asset retirement obligations:
  1. A general description of the asset retirement obligations and the associated long-lived assets
  2. The fair value of assets that are legally restricted for purposes of settling asset retirement obligations
  3. A reconciliation of the beginning and ending aggregate carrying amount of asset retirement obligations showing separately the changes attributable to the following components, whenever there is a significant change in any of these components during the reporting period:
    1. Liabilities incurred in the current period
    2. Liabilities settled in the current period
    3. Accretion expense
    4. Revisions in estimated cash flows.
50-2 If the fair value of an asset retirement obligation cannot be reasonably estimated, that fact and the reasons therefor shall be disclosed.