ORMAT TECHNOLOGIES, INC. | 2013 | FY | 3


NOTE 13 — ASSET RETIREMENT OBLIGATION


The following table presents a reconciliation of the beginning and ending aggregate carrying amount of asset retirement obligation for the years presented below:


   

Year Ended December 31,

 
   

2013

   

2012

 
   

(Dollars in thousands)

 

Balance at beginning of year

  $ 19,289     $ 21,284  

Revisions in estimated cash flows

    (2,742 )     (3,696 )

Liabilities incurred

    588        

Accretion expense

    1,544       1,701  

Balance at end of year

  $ 18,679     $ 19,289  

During the year ended December 31, 2013, the Company decreased the aggregate carrying amount of its asset retirement obligation by $2,742,000 due to changes in price estimates and useful life.


During the year ended December 31, 2012, the Company decreased the aggregate carrying amount of its asset retirement obligation by $3,696,000 due to changes in useful life and price estimates.



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