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Asset Retirement Obligations
6 Months Ended
Jun. 30, 2024
Asset Retirement Obligations  
Asset Retirement Obligations

Note 7 – Asset Retirement Obligations

Asset retirement obligations represent the present value of the estimated costs to remove the commercial charging stations and restore the sites to the condition prior to installation. The Company reviews estimates of removal costs on an ongoing basis. Asset retirement obligation activity was as follows:

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(in thousands)

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Balance as of December 31, 2023

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$

18,232

Liabilities incurred

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848

Accretion expense

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882

Liabilities settled

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(133)

Balance as of June 30, 2024

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$

19,829

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