Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information:

Supplemental information related to the consolidated statements of cash flows is as follows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Cash paid during the year for:
Income taxes (net of refunds of $31,386, $11,564 and $32,677 in 2023, 2022 and 2021, respectively)	$	319,391	$	248,143	$	130,840
Interest (net of capitalization)	$	101,978	$	92,095	$	27,734

Supplemental non-cash disclosures related to investing and financing activities:
Capital expenditures included in Accounts payable	$	494,029	$	296,294	$	165,677
Promissory note issued for capital expenditures(a)	$	—	$	10,876	$	—
Non-cash proceeds from divestitures(b)	$	—	$	—	$	244,530

(a) During the first quarter of 2022, the Company issued a promissory note with a present value of $10.9 million for land purchased in Kings Mountain, North Carolina. The promissory note is payable in equal annual installments from the years 2027 to 2048.

(b) Fair value of preferred equity of a Grace subsidiary received as part of proceeds for the sale of our FCS business. See Note 3, “Divestitures,” for further details.

As part of the purchase price paid for the acquisition of a 60% interest in Wodgina in 2019, the Company transferred $17.3 million, $122.7 million and $135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40% interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $8.4 million and $132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40% value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows.

Other, net within Cash flows from operating activities on the consolidated statements of cash flows for the years ended December 31, 2023, 2022 and 2021 included $64.4 million, $41.8 million and $28.7 million, respectively, representing the reclassification of the current portion of the one-time transition tax resulting from the enactment of the Tax Cuts and Jobs Act (“TCJA”) in 2017, from Other noncurrent liabilities to Income taxes payable within current liabilities. For additional information, see Note 21, “Income Taxes.” In addition, included in Other, net for the years ended December 31, 2023, 2022 and 2021 is $39.9 million, ($21.8) million and $0.1 million, respectively, related to gains (losses) on fluctuations in foreign currency exchange rates.