v3.26.1
Deferred Revenue
 3 Months Ended
Mar. 31, 2026
Other Liabilities, Noncurrent [Abstract]  
Deferred Revenue Deferred Revenue:
In the normal course of business, amounts received from customers in advance of the Company’s satisfaction of its contractual performance obligations are recorded as deferred revenue, and are recognized within Net sales as the Company satisfies the related performance obligation.
Deferred revenue at March 31, 2026 and December 31, 2025 consisted of the following (in thousands):
March 31,December 31,
20262025
Current deferred revenue(a)
$91,749 $93,090 
Noncurrent deferred revenue(b)
318,652 340,527 
Total deferred revenue$410,401 $433,617 
(a)    Reported in Accrued expenses on the consolidated balance sheets.
(b)    Reported in Other noncurrent liabilities on the consolidated balance sheets.
During the year ended December 31, 2025, the Company received $350 million from a customer for the delivery of specified amounts of spodumene and lithium salts over the next 5 years. Deferred revenue of $21.9 million was recognized in Net sales during the three-month period ended March 31, 2026. There was no deferred revenue recognized in Net sales during the three-month period ended March 31, 2025.