Inventories (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Breakdown of Inventories

The following table provides a breakdown of inventories at December 31, 2024 and 2023 (in thousands):

	December 31,
	2024		2023
Finished goods	$	912,662	$	1,624,893
Raw materials and work in process(a)	429,080		401,050
Stores, supplies and other	160,789		135,344
Total(b)	$	1,502,531	$	2,161,287

(a)Included $290.6 million and $213.4 million at December 31, 2024 and 2023, respectively, of work in process in our Energy Storage segment.

(b)As a result of the decline in lithium market pricing, the Company recorded charges in Cost of goods sold to reduce the value of certain finished goods and spodumene to their net realizable value. The balance of these inventory reserves totaled $104.0 million and $604.1 million at December 31, 2024 and 2023, respectively.