v3.26.1
Restructuring (Tables)
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Summary of Restructuring Activities The following table summarizes restructuring activities:
Three Months Ended
June 30,		Six Months Ended
June 30,		Cumulative Total
2026202520262025
(Dollars in millions)
Stickney Shutdown:
Severance, retention and employee benefits$2.0 $0.0 $2.0 $0.0 $2.0 
Impairment164.6 0.0 164.6 0.0 164.6 
Depreciation and asset disposal costs8.5 0.0 8.5 0.0 8.5 
Plant cleaning, waste disposal and demolition costs36.4 0.0 36.4 0.0 36.4 
Phthalic Anhydride Shutdown:
Severance and employee benefits0.0 0.5 0.1 0.6 1.1 
Depreciation and asset disposal costs0.2 4.6 0.2 18.5 26.8 
Plant cleaning, waste disposal and demolition costs0.9 7.9 1.3 7.9 14.7 
Workforce reduction program0.0 0.2 0.0 3.3 8.3 
Consulting services2.7 4.4 5.1 7.3 21.0 
Other restructuring costs0.5 0.0 5.4 0.0 9.0 
Total impairment and restructuring$215.8 $17.6 $223.6 $37.6 $292.4 
We expect these combined actions to result in the following cumulative charges, which includes the amounts already spent in the above table:
Expected TotalsLowHigh
(Dollars in millions)
Severance, retention and employee benefits (cash)$5.0 $5.0 
Impairment, depreciation and asset disposal costs (non-cash)176.0 185.0 
Plant cleaning, waste disposal and demolition costs (cash)52.0 62.0 
Stickney Shutdown Total Pre-tax Charges$233.0 $252.0 
Severance, retention and employee benefits (cash)$1.0 $1.0 
Depreciation and asset disposal costs (non-cash)28.0 28.0 
Plant cleaning, waste disposal and demolition costs (cash)21.0 25.0 
Phthalic Anhydride Shutdown Total Pre-tax Charges$50.0 $54.0 
Total Cash Charges$79.0 $93.0 
Total Non-Cash Charges$204.0 $213.0 
Summary of Details of Plant Closures and Restructuring Liabilities
The following table includes details of our Stickney shutdown, phthalic anhydride shutdown and workforce reduction program liabilities:
Stickney ShutdownPhthalic Anhydride ShutdownWorkforce Reduction Program
(Dollars in millions)
Liability at December 31, 2024$0.0 $0.0 $4.4 
Accrual0.0 13.5 1.2 
Cash paid0.0 (8.1)(5.0)
Liability at December 31, 2025$0.0 $5.4 $0.6 
Accrual(1)
38.4 1.3 0.0 
Cash paid0.0 (2.3)(0.6)
Liability at June 30, 2026$38.4 $4.4 $0.0 
(1)Approximately $18.5 million of the Stickney shutdown accrual is a short-term asset retirement obligation, which is included in accrued liabilities in the condensed consolidated balance sheet.