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Insurance Recovery
12 Months Ended
Dec. 31, 2022
Insurance Recovery [Abstract]  
Insurance Recovery

23. Insurance Recovery

Elwood, Illinois (Millsdale) site

On January 19, 2020, the Company experienced a power disruption that impacted its Elwood, Illinois (Millsdale) facility. This power outage combined with below freezing temperatures, led to significant production and operational challenges that impacted both Surfactants and Polymers produced at the site. The Millsdale facility operated on a partial basis and used existing inventories to serve its customers during this time. On February 17, 2020, power outage-related operational issues impacted the Millsdale site’s waste water treatment plant and forced the Company to stop production at the site. As a result, the Company declared force majeure for the supply of phthalic anhydride (Polymers) and certain surfactant product lines. All production lines were fully operational prior to the end of the 2020 first quarter. During the second half of 2020, the Company finalized an insurance settlement related to this incident and recognized an $18,000,000 pre-tax insurance recovery. This insurance recovery was recognized as a reduction of expenses within cost of sales in the consolidated financial statements of income for the year ended December 31, 2020. The Surfactant and Polymer segments recorded $5,200,000 and $12,800,000, respectively, in insurance recovery.