Phillips 66 | 2013 | FY | 3


During 2013 and 2012, our overall asset retirement obligation changed as follows:
 
 
Millions of Dollars
 
2013

 
2012

 
 
 
 
Balance at January 1
$
314

 
378

Accretion of discount
11

 
13

New obligations
3

 
3

Changes in estimates of existing obligations
12

 
(14
)
Spending on existing obligations
(13
)
 
(16
)
Property dispositions
(20
)
 
(53
)
Foreign currency translation
2

 
3

Balance at December 31
$
309

 
314


us-gaap:ScheduleOfChangeInAssetRetirementObligationTableTextBlock