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Investments (Tables)
 12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
Investment Balances The following table details the Company’s investment balances at December 31, 2024 and 2023 (in thousands):
December 31,
20242023
Joint ventures$726,594 $855,131 
Available for sale debt securities313,991 289,307 
Nonmarketable securities16,528 18,389 
Marketable equity securities60,626 207,028 
Total$1,117,739 $1,369,855 
Ownership Positions in Significant Unconsolidated Investments
The Company’s ownership positions in significant unconsolidated investments are shown below:
December 31,
202420232022
*Windfield Holdings Pty. Ltd. (“Windfield”) - a joint venture with Sichuan Tianqi Lithium Industries, Inc., that mines lithium ore and produces lithium concentrate49 %49 %49 %
*Nippon Aluminum Alkyls - a joint venture with Mitsui Chemicals, Inc. that produces aluminum alkyls50 %50 %50 %
*Nippon Ketjen Company Limited - a joint venture with Sumitomo Metal Mining Company Limited that produces refinery catalysts50 %50 %50 %
*Eurecat S.A. - a joint venture with Axens Group for refinery catalysts regeneration services50 %50 %50 %
*Fábrica Carioca de Catalisadores S.A. - a joint venture with Petrobras Quimica S.A. - PETROQUISA that produces catalysts and includes catalysts research and product development activities50 %50 %50 %
Income of Unconsolidated Investments
The following table details the Company’s equity in net income of unconsolidated investments (net of tax) for the years ended December 31, 2024, 2023 and 2022 (in thousands):
Year Ended December 31,
202420232022
Windfield$692,965 $1,833,589 $750,378 
Other joint ventures22,468 20,493 21,897 
Total$715,433 $1,854,082 $772,275 
Summary of Assets, Liabilities and Results of Operations for Significant Unconsolidated Joint Ventures
The following summary lists the assets, liabilities and results of operations for the Company’s significant unconsolidated joint ventures presented herein (in thousands):
December 31,
20242023
Summary of Balance Sheet Information:
Current assets$968,453 $1,424,059 
Noncurrent assets2,707,216 2,321,261 
Total assets$3,675,669 $3,745,320 
Current liabilities$390,522 $773,931 
Noncurrent liabilities1,727,181 1,267,271 
Total liabilities$2,117,703 $2,041,202 

Year Ended December 31,
202420232022
Summary of Statements of Income Information:
Net sales$1,810,801 $7,019,117 $4,290,223 
Gross profit$1,047,714 $6,373,472 $3,765,304 
Income before income taxes$695,932 $5,988,737 $3,301,875 
Net income$485,392 $4,224,961 $2,314,094