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Restructuring Charges and Asset Write-offs (Tables)
 9 Months Ended
Sep. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
The following table provides details of our restructuring related charges for the three-month and nine-month periods ended September 30, 2024, which represent the cumulative amounts incurred to date for these plans (in thousands):
Three Months Ended September 30, 2024
Asset Write-offs(a)
Severance and Employee Benefits(b)
Contract Cancellation Costs(c)
Other(d)
Total
First Half 2024 Restructuring(e)
$4,562 $504 $(3,248)$— $1,818 
Second Half 2024 Restructuring(f)
785,005 7,988 42,456 23,597 859,046 
$789,567 $8,492 $39,208 $23,597 $860,864 
Nine Months Ended September 30, 2024
Asset Write-offs(a)
Severance and Employee Benefits(b)
Contract Cancellation Costs(c)
Other(d)
Total
First Half 2024 Restructuring(e)
$280,596 $19,365 $30,233 $5,374 $335,568 
Second Half 2024 Restructuring(f)
785,005 7,988 42,456 23,597 859,046 
$1,065,601 $27,353 $72,689 $28,971 $1,194,614 
(a)    Asset write-offs include $16.5 million recorded in Cost of goods sold, primarily related to work in process inventory with no future value as a result of the decomissioning of Kemerton Train 2 that was placed into care and maintenance. The remainder of the asset write-offs primarily relate to property, plant and equipment of the in-construction Kemerton Trains 3 and 4, and Kemerton Train 2 that was placed into care and maintenance. All asset write-off charges not related to inventories were recorded in Restructuring charges and asset write-offs.
(b)    Severance and employee benefit charges for global employees terminated during the various restructuring programs were recorded in Restructuring charges and asset write-offs.
(c)    Includes cancellation fees for contractors and required payments under take or pay contracts. All asset write-off charges were recorded in Restructuring charges and asset write-offs.
(d)    Other includes costs to put Kemerton Train 2 into care and maintenance and similar restructuring costs, and are recorded in Restructuring charges and asset write-offs. In addition, Other includes the reclassification of the related dedesignated cash flow hedge from Accumulated other comprehensive loss. $16.2 million recorded in Other (expenses) income net, for the three-month and nine-month periods ended September 30, 2024 related to the Second Half 2024 Restructuring and $5.4 million recorded in Other (expenses) income, net for the nine-month period ended September 30, 2024 related to the First Half 2024 Restructuring.
(e)    Severance and employee benefits related to Corporate and all segments. All other restructuring costs were primarily recorded in the Energy Storage segment.
(f)    Recorded in the Energy Storage segment.
The following tables summarize the changes in restructuring liabilities for the nine-month period ended September 30, 2024 (in thousands):
First Half 2024 RestructuringAsset Write-offsSeverance and Employee BenefitsContract Cancellation CostsOtherTotal
Beginning balance at December 31, 2023$— $— $— $— $— 
2024 charges280,596 19,365 33,481 5,374 338,816 
Change in estimate— — (3,248)— (3,248)
Cash payments— (18,883)(22,120)— (41,003)
Asset writedowns/hedge dedesignation(280,596)— — (5,374)(285,970)
Foreign currency translation adjustments— 27 — — 27 
Ending balance at September 30, 2024(a)(b)
$— $509 $8,113 $— $8,622 
Second Half 2024 RestructuringAsset Write-offsSeverance and Employee BenefitsContract Cancellation CostsOtherTotal
Beginning balance at December 31, 2023$— $— $— $— $— 
2024 charges785,005 7,988 42,456 23,597 859,046 
Cash payments— (5,369)(14,391)— (19,760)
Asset writedowns/hedge dedesignation(785,005)— — (16,170)(801,175)
Ending balance at September 30, 2024(a)(b)
$— $2,619 $28,065 $7,427 $38,111 
(a)    Approximately $34.3 million recorded in Accrued expenses and $12.4 million recorded in Other noncurrent liabilities on the consolidated balance sheets as of September 30, 2024.
(b)    The majority of the remaining balances are expected to be paid in the next twelve months. Certain take or pay liabilities will be paid in line with the terms of the original contract through 2027.