Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Activity in Recorded Environmental Liabilities Activity

We had the following activity in our recorded environmental liabilities for the years ended December 31, 2019, 2018 and 2017 (in thousands):

	Year Ended December 31,
	2019			2018			2017
Balance, beginning of year	$	49,569		$	39,808		$	34,919
Expenditures	(6,037		)	(6,885		)	(1,818		)
Accretion of discount	1,030			1,283			896
Additions and changes in estimates(a)	1,129			17,039			3,344
Foreign currency translation adjustments and other	(3,099		)	(1,676		)	2,467
Balance, end of year	42,592			49,569			39,808
Less amounts reported in Accrued expenses	9,534			9,193			2,290
Amounts reported in Other noncurrent liabilities	$	33,058		$	40,376		$	37,518

(a)

Increase in additions in 2018 primarily related to the indemnification of the buyer of a formerly owned site. As defined in the agreement of sale, this indemnification has a set cutoff date in 2024, at which point we will no longer be required to provide financial coverage.

Schedule of Change in Asset Retirement Obligation

The following is a reconciliation of our beginning and ending asset retirement obligation balances for 2019 and 2018 (in thousands):

	Year Ended December 31,
	2019			2018
Balance, beginning of year	$	41,489		$	40,450
Acquisitions(a)	4,650			—
Additions and changes in estimates(b)	14,734			740
Accretion of discount	2,035			1,500
Liabilities settled	(3,289		)	(786		)
Foreign currency translation adjustments and other	627			(415		)
Balance, end of year	$	60,246		$	41,489
Less amounts reported in Accrued expenses	4,398			—
Amounts reported in Other noncurrent liabilities	$	55,848		$	41,489

(a) Represents preliminary purchase price adjustments for the Wodgina Project acquisition recorded for the year ended December 31, 2019. See Note 2, “Acquisitions,” for additional information.

(b)

Increase in additions in 2019 related to $11.1 million of new asset retirement obligations in Chile and Australia and $3.6 million of charges related to the update of an estimate at a site formerly owned by Albemarle.

Letters of Credit and Guarantee Agreements

The following table summarizes our letters of credit and guarantee agreements (in thousands):

	2020		2021		2022		2023		2024		Thereafter
Letters of credit and other guarantees	$	49,152	$	11,383	$	1,303	$	1,190	$	—	$	19,305