ASSET RETIREMENT OBLIGATIONS
|12 Months Ended|
Dec. 31, 2016
|ASSET RETIREMENT OBLIGATIONS|
|ASSET RETIREMENT OBLIGATIONS||
13. ASSET RETIREMENT OBLIGATIONS
Asset retirement obligations consist primarily of landfill capping, closure and post-closure costs, asbestos abatement costs, demolition and removal costs and leasehold remediation costs. We are legally required to perform capping and closure and post-closure care on the landfills and asbestos abatement on certain of our premises. For each asset retirement obligation we recognized the estimated fair value of a liability and capitalized the cost as part of the cost basis of the related asset.
The following table describes changes to our asset retirement obligation liabilities (dollars in millions):
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.
Reference 1: http://www.xbrl.org/2003/role/presentationRef