v3.26.1
Deconsolidation of Subsidiaries (Tables)
12 Months Ended
Dec. 31, 2025
Deconsolidation of Subsidiaries  
Schedule of fair values of the proceeds received and net assets contributed at carrying value to the Smackover Lithium, and gain on deconsolidation

The following table summarizes the fair values of the proceeds received and net assets contributed at carrying value to Smackover Lithium, and gain on deconsolidation recognized for the year ended June 30, 2024 (in thousands):

 

 

SWA
Lithium

 

 

Texas
Lithium

 

 

Total

 

Fair value consideration received

 

$

15,000

 

 

$

15,000

 

 

$

30,000

 

Financial asset – FID(1)

 

 

27,718

 

 

 

18,977

 

 

 

46,695

 

Fair value of investment

 

 

95,008

 

 

 

52,015

 

 

 

147,023

 

Less: net assets

 

 

(30,116

)

 

 

(29,503

)

 

 

(59,619

)

Gain on deconsolidation of subsidiaries

 

$

107,610

 

 

$

56,489

 

 

$

164,099

 

 

(1)
The financial asset is comprised of future payments to be received by the Company in connection with the Agreement. The receipt of these payments is contingent upon meeting certain milestones. The financial asset is accounted for at fair value. Refer to Note 12 — Financial Instruments and Financial Risk Management for further information regarding the fair value.