v3.26.1
EQUITY METHOD INVESTMENT
6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY METHOD INVESTMENT EQUITY METHOD INVESTMENT
In January 2014, BCP Ingredients, Inc. ("BCP"), a subsidiary of the Company, and Taminco US Inc. (note: Taminco was subsequently acquired by Eastman Chemical Company) formed a joint venture (66.66% / 33.34% ownership), St. Gabriel CC Company, LLC, to design, develop, and construct an expansion of BCP’s St. Gabriel aqueous choline chloride plant. BCP contributed the St. Gabriel plant, at cost, and all continued expansion and improvements are funded by the owners. The joint venture became operational as of July 1, 2016, at which point, Taminco US Inc. was succeeded by Taminco US LLC. St. Gabriel CC Company, LLC is a Variable Interest Entity (VIE) because the total equity at risk is not sufficient to permit the joint venture to finance its own activities without additional subordinated financial support. Additionally, voting rights (2 votes each) are not proportionate to the owners’ obligation to absorb expected losses or receive the expected residual returns of the joint venture. BCP receives the majority of the production offtake capacity, which may be adjusted from time to time to the extent the owners agree as such, and absorbs operating expenses approximately proportional to the actual percentage of offtake. The joint venture is accounted for under the equity method of accounting since BCP is not the primary beneficiary as BCP does not have the power to direct the activities of the joint venture that most significantly impact its economic performance. BCP recognized a loss of $126 and $250 for the three and six months ended June 30, 2026, respectively, and $123 and $245 for the three and six months ended June 30, 2025, respectively, relating to its portion of the joint venture's expenses in other expense. BCP made capital contributions to the investment totaling $53 and $95 for the three and six months ended June 30, 2026, respectively, and $75 and $105 for the three and six months ended June 30, 2025, respectively. The carrying value of the joint venture at June 30, 2026 and December 31, 2025 was $3,562 and $3,717, respectively, and is recorded in "Other non-current assets" on the condensed consolidated balance sheets.