Alcoa 2009 Annual Report Download - page 99
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The major classes of assets and liabilities of operations held for sale are as follows:
December 31, 2009 2008
Assets:
Receivables $41 $99
Inventories 26 102
Properties, plants, and equipment 45 30
Other assets 21 16
Assets held for sale $133 $247
Liabilities:
Accounts payable, trade $ 25 $101
Accrued expenses 35 28
Other liabilities -1
Liabilities of operations held for sale $ 60 $130
C. Asset Retirement Obligations
Alcoa has recorded AROs related to legal obligations associated with the normal operations of bauxite mining, alumina
refining, and aluminum smelting facilities. These AROs consist primarily of costs associated with spent pot lining
disposal, closure of bauxite residue areas, mine reclamation, and landfill closure. Alcoa also recognizes AROs for any
significant lease restoration obligation, if required by a lease agreement, and for the disposal of regulated waste
materials related to the demolition of certain power facilities.
The following table details the carrying value of recorded AROs by major category (of which $38 and $29 was
classified as a current liability as of December 31, 2009 and 2008, respectively):
December 31, 2009 2008
Spent pot lining disposal $196 $155
Closure of bauxite residue areas 136 89
Mine reclamation 101 45
Landfill closure 17 11
Other 32
$453 $302
The following table details the changes in the total carrying value of recorded AROs:
December 31, 2009 2008
Balance at beginning of year $302 $311
Accretion expense 18 15
Payments (26) (35)
Liabilities incurred 119 41
Translation and other 40 (30)
Balance at end of year $453 $302
In addition to the above AROs, certain CAROs related to alumina refineries, aluminum smelters, and fabrication
facilities have not been recorded in the Consolidated Financial Statements due to uncertainties surrounding the ultimate
settlement date. Such uncertainties exist as a result of the perpetual nature of the structures, maintenance and upgrade
programs, and other factors. At the date a reasonable estimate of the ultimate settlement date can be made, Alcoa
would record a retirement obligation for the removal, treatment, transportation, storage, and (or) disposal of various
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