Sunoco LP
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
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10. Other Non-Current Liabilities
- Other Non-Current Liabilities
Other non-current liabilities consisted of the following:
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Asset retirement obligations | $84 | $81 |
| Accrued environmental expense, long-term | 12 | 12 |
| Other | 20 | 18 |
| Other non-current liabilities | $116 | $111 |
We record an asset retirement obligation for the estimated future cost to remove underground storage tanks. Revisions to the liability could occur due to changes in tank removal costs, tank useful lives or if federal and/or state regulators enact new guidance on the removal of such tanks. Changes in the carrying amount of asset retirement obligations for the years ended December 31, 2023 and 2022 were as follows:
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Balance at beginning of year | $81 | $79 |
| Liabilities incurred | — | — |
| Liabilities settled | (1) | (2) |
| Accretion expense | 4 | 4 |
| Balance at end of year | $84 | $81 |
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