Note 15 - Environmental, Health and Safety Matters |
3 Months Ended |
|---|---|
Mar. 31, 2023 | |
| Notes to Financial Statements | 听 |
| Environmental Loss Contingency Disclosure [Text Block] |
15. ENVIRONMENTAL, HEALTH AND SAFETY MATTERS 鈥� EHS听Capital Expenditures 听 We may incur future costs for capital improvements and general compliance under environmental, health and safety (鈥淓HS鈥�) laws, including costs to acquire, maintain and repair pollution control equipment. For the three months ended March 31, 2023 and 2022, our capital expenditures from continuing operations for EHS matters totaled $6听million and $7听million, respectively. Because capital expenditures for these matters are subject to evolving regulatory requirements and depend, in part, on the timing, promulgation and enforcement of specific requirements, our capital expenditures for EHS matters have varied significantly from year to year and we cannot provide assurance that our recent expenditures are indicative of future amounts we may spend related to EHS and other applicable laws. 听 Environmental Reserves 鈥� We have accrued liabilities relating to anticipated environmental cleanup obligations, site reclamation and closure costs and known penalties. Liabilities are recorded when potential liabilities are either known or considered probable and can be reasonably estimated. Our liability estimates are calculated using present value techniques as appropriate and are based upon requirements placed upon us by regulators, available facts, existing technology and past experience. The environmental liabilities do not include amounts recorded as asset retirement obligations. We had accrued $5听million for environmental liabilities as of both听 March 31, 2023 and December 31, 2022. Of these amounts,听$1听million was听classified as accrued liabilities in our condensed consolidated balance sheets as of both听 March 31, 2023 and December 31, 2022听and $4听million was classified as other noncurrent liabilities in our condensed consolidated balance sheets as of both听 March 31, 2023 and December 31, 2022. In certain cases, our remediation liabilities may be payable over periods of up to 30听years. We may incur losses for environmental remediation in excess of the amounts accrued; however, we are not able to estimate the amount or range of such potential excess. 听 Environmental Matters 鈥� Under the Comprehensive Environmental Response, Compensation, and Liability Act (鈥淐ERCLA鈥�) and similar state laws, a current or former owner or operator of real property in the U.S. may be liable for remediation costs regardless of whether the release or disposal of hazardous substances was in compliance with law at the time it occurred, and a current owner or operator may be liable regardless of whether it owned or operated the facility at the time of the release. Outside the U.S., analogous contaminated property laws听can hold past owners and/or operators liable for remediation at former facilities. Currently, there are approximately former facilities or third-party sites in the U.S. for which we have been notified of potential claims against us for cleanup liabilities, including, but not limited to, sites listed under CERCLA. Based on current information and past experiences at other CERCLA sites, we do not expect these third-party claims to have a material impact on our condensed consolidated financial statements. 鈥� Under the Resource Conservation and Recovery Act (鈥淩CRA鈥�) in the U.S. and similar state laws, we may be required to remediate contamination originating from our properties. Similar laws exist in a number of non-U.S. locations in which we currently operate, or previously operated, manufacturing facilities. Some of our manufacturing sites have an extended history of industrial chemical manufacturing and use, including on-site waste disposal. We are aware of soil, groundwater or surface contamination from past operations at some of our sites, and we may find contamination at other sites in the future. For example, our Geismar, Louisiana facility is the subject of ongoing remediation requirements imposed under RCRA. 鈥� North Maybe Canyon Mine Remediation 鈥� The North Maybe Canyon Mine site is a CERCLA site and involves a former phosphorous mine near Soda Springs, Idaho, which is believed to have been operated by several companies, including a predecessor company to us. In 2004, the U.S. Forest Service notified us that we are a CERCLA potentially responsible party (鈥淧RP鈥�) for contamination originating from the site. In February 2010, we and Wells Cargo (another PRP) agreed to conduct a Remedial Investigation/Feasibility Study of a portion of the site and are currently engaged in that process. At this time, we are unable to reasonably estimate our potential liabilities at this site. 鈥嬏� |