乐天堂fun88(中国区)官方网站

Annual report pursuant to Section 13 and 15(d)

Note 21 - Commitments and Contingencies

v3.20.4
Note 21 - Commitments and Contingencies
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]

21. COMMITMENTS AND CONTINGENCIES

Purchase Commitments

We have various purchase commitments extending through 2039听for materials, supplies and services entered into in the ordinary course of business. Included in the purchase commitments table below are contracts which require minimum volume purchases that extend beyond one year or are renewable annually and have been renewed for 2020. Certain contracts allow for changes in minimum required purchase volumes in the event of a temporary or permanent shutdown of a facility. To the extent the contract requires a minimum notice period, such notice period has been included in the table below. The contractual purchase prices for substantially all of these contracts are variable based upon market prices, subject to annual negotiations. We have estimated our contractual obligations by using the terms of our current pricing for each contract. We also have a limited number of contracts which require a minimum payment even if no volume is purchased. We believe that all of our purchase obligations will be utilized in our normal operations. We made minimum payments of $2听million, $1 million听and nil for the years ended December 31, 2020, 2019 and 2018, respectively, under such take or pay contracts without taking the product.

Total purchase commitments as of December 31, 2020 are as follows (dollars in millions):

Year ending December 31,

2021

$ 1,413

2022

982

2023

818

2024

696

2025

648

Thereafter

1,924
$ 6,481

Legal Matters

We are a party to various proceedings instituted by private plaintiffs, governmental authorities and others arising under provisions of applicable laws, including various environmental, products liability and other laws. Except as otherwise disclosed in this report, we do not believe that the outcome of any of these matters will have a material effect on our financial condition, results of operations or liquidity.