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We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:DerivativeAssets |
We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. | text | 0 million | monetaryItemType | text: <entity> 0 million </entity> <entity type> monetaryItemType </entity type> <context> We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:DerivativeLiabilities |
We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. | text | 0 million | monetaryItemType | text: <entity> 0 million </entity> <entity type> monetaryItemType </entity type> <context> We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:CollateralAlreadyPostedAggregateFairValue |
We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:CollateralAlreadyPostedAggregateFairValue |
We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. | text | 377 | monetaryItemType | text: <entity> 377 </entity> <entity type> monetaryItemType </entity type> <context> We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:AdditionalCollateralAggregateFairValue |
We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. | text | 380 | monetaryItemType | text: <entity> 380 </entity> <entity type> monetaryItemType </entity type> <context> We received a suite of capital markets services from AIG, including securities lending, collateral management, repurchase transactions, derivatives execution and support, and operational support services, for which we pay a fee. AIG Markets, Inc. (“AIGM”) provided these services through various services agreements. In addition, in the ordinary course of business, we enter into over-the-counter derivative transactions with AIGM under standard ISDA Master Agreements. The total expenses incurred for services provided by AIGM reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss) were $ 0 million , $ 15 million and $ 17 million for the years ended December 31, 2023, 2022 and 2021, respectively. The derivative assets, net of gross assets and gross liabilities after collateral were $ 13 million and $ 12 million as of December 31, 2023 and December 31, 2022, respectively. The derivative liabilities, net of gross assets and gross liabilities after collateral were $ 0 million and $ 0 million as of December 31, 2023 and December 31, 2022, respectively. The collateral posted to AIGM was $ 0 million and $ 1.5 billion as of December 31, 2023 and December 31, 2022, respectively. The collateral held by us was $ 377 million and $ 380 million as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:AdditionalCollateralAggregateFairValue |
In addition, we previously had certain unsecured derivative transactions with AIG. On May 4, 2023, these previously unsecured derivative transactions became fully collateralized. The derivative assets, net of gross assets and gross liabilities after collateral were $ 0 million and $ 253 million as of December 31, 2023 and December 31, 2022, respectively. There were no derivative net liabilities as of December 31, 2023 and December 31, 2022, respectively. | text | 0 million | monetaryItemType | text: <entity> 0 million </entity> <entity type> monetaryItemType </entity type> <context> In addition, we previously had certain unsecured derivative transactions with AIG. On May 4, 2023, these previously unsecured derivative transactions became fully collateralized. The derivative assets, net of gross assets and gross liabilities after collateral were $ 0 million and $ 253 million as of December 31, 2023 and December 31, 2022, respectively. There were no derivative net liabilities as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:DerivativeAssets |
In addition, we previously had certain unsecured derivative transactions with AIG. On May 4, 2023, these previously unsecured derivative transactions became fully collateralized. The derivative assets, net of gross assets and gross liabilities after collateral were $ 0 million and $ 253 million as of December 31, 2023 and December 31, 2022, respectively. There were no derivative net liabilities as of December 31, 2023 and December 31, 2022, respectively. | text | 253 | monetaryItemType | text: <entity> 253 </entity> <entity type> monetaryItemType </entity type> <context> In addition, we previously had certain unsecured derivative transactions with AIG. On May 4, 2023, these previously unsecured derivative transactions became fully collateralized. The derivative assets, net of gross assets and gross liabilities after collateral were $ 0 million and $ 253 million as of December 31, 2023 and December 31, 2022, respectively. There were no derivative net liabilities as of December 31, 2023 and December 31, 2022, respectively. </context> | us-gaap:DerivativeAssets |
Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 39 | monetaryItemType | text: <entity> 39 </entity> <entity type> monetaryItemType </entity type> <context> Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AccountsPayableCurrent |
Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 311 | monetaryItemType | text: <entity> 311 </entity> <entity type> monetaryItemType </entity type> <context> Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AccountsPayableCurrent |
Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 38 | monetaryItemType | text: <entity> 38 </entity> <entity type> monetaryItemType </entity type> <context> Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:ReceivablesNetCurrent |
Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:ReceivablesNetCurrent |
Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 161 | monetaryItemType | text: <entity> 161 </entity> <entity type> monetaryItemType </entity type> <context> Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:SellingGeneralAndAdministrativeExpense |
Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 114 | monetaryItemType | text: <entity> 114 </entity> <entity type> monetaryItemType </entity type> <context> Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:SellingGeneralAndAdministrativeExpense |
Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 229 | monetaryItemType | text: <entity> 229 </entity> <entity type> monetaryItemType </entity type> <context> Amounts due to AIG under these agreements were $ 39 million and $ 311 million as of December 31, 2023 and December 31, 2022, respectively. Amounts due from AIG were $ 38 million and $ 54 million as of December 31, 2023 and December 31, 2022, respectively. The total service expenses incurred specific to these agreements reflected in General operating and other expenses on the Consolidated Statements of Income (Loss) were $ 161 million, $ 114 million and $ 229 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:SellingGeneralAndAdministrativeExpense |
Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. | text | 67 | monetaryItemType | text: <entity> 67 </entity> <entity type> monetaryItemType </entity type> <context> Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. </context> | us-gaap:ReinsuranceRecoverablesGross |
Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. | text | 70 | monetaryItemType | text: <entity> 70 </entity> <entity type> monetaryItemType </entity type> <context> Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. </context> | us-gaap:ReinsuranceRecoverablesGross |
Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. </context> | us-gaap:ReinsurancePayable |
Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. | text | 32 | monetaryItemType | text: <entity> 32 </entity> <entity type> monetaryItemType </entity type> <context> Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. </context> | us-gaap:ReinsurancePayable |
Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. | text | 37 | monetaryItemType | text: <entity> 37 </entity> <entity type> monetaryItemType </entity type> <context> Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. </context> | us-gaap:CededPremiumsWritten |
Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. </context> | us-gaap:CededPremiumsWritten |
Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. | text | 42 | monetaryItemType | text: <entity> 42 </entity> <entity type> monetaryItemType </entity type> <context> Reinsurance assets related to these agreements were $ 67 million and $ 70 million as of December 31, 2023 and December 31, 2022, respectively. Amounts payable to AIRCO were $ 13 million and $ 32 million as of December 31, 2023 and December 31, 2022, respectively. Ceded premiums related to these agreements were $ 37 million, $ 41 million and $ 42 million for the years ended December 31, 2023, 2022 and 2021, respectively. Reinsurance assets and amounts payable related to these agreements have been reclassified to Assets held-for-sale and Liabilities held-for-sale, respectively. </context> | us-gaap:CededPremiumsWritten |
Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 0 million | monetaryItemType | text: <entity> 0 million </entity> <entity type> monetaryItemType </entity type> <context> Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AccountsReceivableNet |
Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AccountsReceivableNet |
Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:NetInvestmentIncome |
Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 14 | monetaryItemType | text: <entity> 14 </entity> <entity type> monetaryItemType </entity type> <context> Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:NetInvestmentIncome |
Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> Prior to September 19, 2022, we participated in funding arrangements whereby each participating subsidiary placed funds on deposit with AIG in exchange for a stated rate of interest. These funding arrangements terminated on September 19, 2022. Our receivables under these arrangements of $ 0 million and $ 0.4 billion as of December 31, 2023 and December 31, 2022, respectively, were recorded in Short-term investments on the Consolidated Balance Sheets. Interest earned on these deposits, reflected in Net investment income - excluding Fortitude Re funds withheld assets on the Consolidated Statements of Income (Loss), were $ 8 million $ 14 million and $ 3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:NetInvestmentIncome |
In November 2021, we issued a promissory note to AIG in the amount of $ 8.3 billion. Interest expense incurred specific to this note reflected in Interest expense on the Consolidated Statements of Income (Loss) was $ 46 million for the year ended December 31, 2022. We repaid the principal and accrued interest of this note during the year ended December 31, 2022. | text | 8.3 | monetaryItemType | text: <entity> 8.3 </entity> <entity type> monetaryItemType </entity type> <context> In November 2021, we issued a promissory note to AIG in the amount of $ 8.3 billion. Interest expense incurred specific to this note reflected in Interest expense on the Consolidated Statements of Income (Loss) was $ 46 million for the year ended December 31, 2022. We repaid the principal and accrued interest of this note during the year ended December 31, 2022. </context> | us-gaap:NotesPayableCurrent |
In November 2021, we issued a promissory note to AIG in the amount of $ 8.3 billion. Interest expense incurred specific to this note reflected in Interest expense on the Consolidated Statements of Income (Loss) was $ 46 million for the year ended December 31, 2022. We repaid the principal and accrued interest of this note during the year ended December 31, 2022. | text | 46 | monetaryItemType | text: <entity> 46 </entity> <entity type> monetaryItemType </entity type> <context> In November 2021, we issued a promissory note to AIG in the amount of $ 8.3 billion. Interest expense incurred specific to this note reflected in Interest expense on the Consolidated Statements of Income (Loss) was $ 46 million for the year ended December 31, 2022. We repaid the principal and accrued interest of this note during the year ended December 31, 2022. </context> | us-gaap:InterestExpense |
On September 9, 2022, certain of our insurance companies purchased from AIG senior debt issued by, as well as 100 % of the ownership interests in, special purpose entities that held collateralized debt obligations for a total value of approximately $ 800 million. As a result of these transactions, we owned all the interests related to these investments and consolidate them in our financial statements. As of December 31, 2022, we sold the underlying collateralized debt obligations. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> On September 9, 2022, certain of our insurance companies purchased from AIG senior debt issued by, as well as 100 % of the ownership interests in, special purpose entities that held collateralized debt obligations for a total value of approximately $ 800 million. As a result of these transactions, we owned all the interests related to these investments and consolidate them in our financial statements. As of December 31, 2022, we sold the underlying collateralized debt obligations. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
On September 9, 2022, certain of our insurance companies purchased from AIG senior debt issued by, as well as 100 % of the ownership interests in, special purpose entities that held collateralized debt obligations for a total value of approximately $ 800 million. As a result of these transactions, we owned all the interests related to these investments and consolidate them in our financial statements. As of December 31, 2022, we sold the underlying collateralized debt obligations. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> On September 9, 2022, certain of our insurance companies purchased from AIG senior debt issued by, as well as 100 % of the ownership interests in, special purpose entities that held collateralized debt obligations for a total value of approximately $ 800 million. As a result of these transactions, we owned all the interests related to these investments and consolidate them in our financial statements. As of December 31, 2022, we sold the underlying collateralized debt obligations. </context> | us-gaap:DebtSecuritiesHeldToMaturityPurchase |
On December 23, 2022, certain Corebridge subsidiaries executed four Sale Transfer and Assignment agreements with certain AIG subsidiaries to purchase certain participation interests in residential mortgage loans for approximately $ 452 million. | text | 452 | monetaryItemType | text: <entity> 452 </entity> <entity type> monetaryItemType </entity type> <context> On December 23, 2022, certain Corebridge subsidiaries executed four Sale Transfer and Assignment agreements with certain AIG subsidiaries to purchase certain participation interests in residential mortgage loans for approximately $ 452 million. </context> | us-gaap:NotesPayable |
Our employees participate in certain of AIG’s employee benefit programs. We had a payable of $ 32 million and $ 59 million as of December 31, 2023 and December 31, 2022, respectively, with respect to these programs. On September 14, 2022, we entered into an employee matters agreement with AIG (the “EMA”). The EMA allocates liabilities and responsibilities relating to employment matters, employee compensation and benefits plans and programs, and other related matters between us and AIG. The EMA generally provides that, unless otherwise specified, each party is responsible for liabilities associated with their current and former employees for purposes of compensation and benefit matters following the IPO. | text | 32 | monetaryItemType | text: <entity> 32 </entity> <entity type> monetaryItemType </entity type> <context> Our employees participate in certain of AIG’s employee benefit programs. We had a payable of $ 32 million and $ 59 million as of December 31, 2023 and December 31, 2022, respectively, with respect to these programs. On September 14, 2022, we entered into an employee matters agreement with AIG (the “EMA”). The EMA allocates liabilities and responsibilities relating to employment matters, employee compensation and benefits plans and programs, and other related matters between us and AIG. The EMA generally provides that, unless otherwise specified, each party is responsible for liabilities associated with their current and former employees for purposes of compensation and benefit matters following the IPO. </context> | us-gaap:AccountsPayableCurrent |
Our employees participate in certain of AIG’s employee benefit programs. We had a payable of $ 32 million and $ 59 million as of December 31, 2023 and December 31, 2022, respectively, with respect to these programs. On September 14, 2022, we entered into an employee matters agreement with AIG (the “EMA”). The EMA allocates liabilities and responsibilities relating to employment matters, employee compensation and benefits plans and programs, and other related matters between us and AIG. The EMA generally provides that, unless otherwise specified, each party is responsible for liabilities associated with their current and former employees for purposes of compensation and benefit matters following the IPO. | text | 59 | monetaryItemType | text: <entity> 59 </entity> <entity type> monetaryItemType </entity type> <context> Our employees participate in certain of AIG’s employee benefit programs. We had a payable of $ 32 million and $ 59 million as of December 31, 2023 and December 31, 2022, respectively, with respect to these programs. On September 14, 2022, we entered into an employee matters agreement with AIG (the “EMA”). The EMA allocates liabilities and responsibilities relating to employment matters, employee compensation and benefits plans and programs, and other related matters between us and AIG. The EMA generally provides that, unless otherwise specified, each party is responsible for liabilities associated with their current and former employees for purposes of compensation and benefit matters following the IPO. </context> | us-gaap:AccountsPayableCurrent |
During 2023, we repurchased approximately 17.2 million shares of Corebridge Common Stock from AIG for an aggregate purchase price of approximately $ 315 million. | text | 315 | monetaryItemType | text: <entity> 315 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we repurchased approximately 17.2 million shares of Corebridge Common Stock from AIG for an aggregate purchase price of approximately $ 315 million. </context> | us-gaap:PaymentsForRepurchaseOfCommonStock |
and $ 147 million for the years ended December 31, 2023 and 2022, respectively. | text | 147 | monetaryItemType | text: <entity> 147 </entity> <entity type> monetaryItemType </entity type> <context> and $ 147 million for the years ended December 31, 2023 and 2022, respectively. </context> | us-gaap:InvestmentIncomeInvestmentExpense |
During 2023, we repurchased approximately 1.9 million shares of Corebridge Common Stock from Blackstone for an aggregate purchase price of approximately $ 35 million. | text | 1.9 | sharesItemType | text: <entity> 1.9 </entity> <entity type> sharesItemType </entity type> <context> During 2023, we repurchased approximately 1.9 million shares of Corebridge Common Stock from Blackstone for an aggregate purchase price of approximately $ 35 million. </context> | us-gaap:TreasuryStockSharesAcquired |
During 2023, we repurchased approximately 1.9 million shares of Corebridge Common Stock from Blackstone for an aggregate purchase price of approximately $ 35 million. | text | 35 | monetaryItemType | text: <entity> 35 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we repurchased approximately 1.9 million shares of Corebridge Common Stock from Blackstone for an aggregate purchase price of approximately $ 35 million. </context> | us-gaap:TreasuryStockValueAcquiredCostMethod |
In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 102 | monetaryItemType | text: <entity> 102 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:LongTermDebt |
In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 308 | monetaryItemType | text: <entity> 308 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:LongTermDebt |
In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:InterestExpense |
In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:InterestExpense |
In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 64 | monetaryItemType | text: <entity> 64 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various arrangements with VIEs, and we consolidate the VIE if we are determined to be the primary beneficiary. In certain situations, we may have a variable interest in a VIE that is consolidated by an affiliate, and in other instances, affiliates may have variable interests in a VIE that is consolidated by us. The total debt of consolidated VIEs held by affiliates was $ 102 million and $ 308 million as of December 31, 2023 and December 31, 2022, respectively. The interest expense incurred on the debt reflected in Interest expense on the Consolidated Statements of Income (Loss) were $ 9 million, $ 33 million and $ 64 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:InterestExpense |
The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 518 | monetaryItemType | text: <entity> 518 </entity> <entity type> monetaryItemType </entity type> <context> The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount |
The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 537 | monetaryItemType | text: <entity> 537 </entity> <entity type> monetaryItemType </entity type> <context> The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount |
The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:NetIncomeLossAttributableToNoncontrollingInterest |
The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 52 | monetaryItemType | text: <entity> 52 </entity> <entity type> monetaryItemType </entity type> <context> The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:NetIncomeLossAttributableToNoncontrollingInterest |
The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 499 | monetaryItemType | text: <entity> 499 </entity> <entity type> monetaryItemType </entity type> <context> The noncontrolling interest included in the Consolidated Balance Sheets related to the VIEs held by affiliates was $ 518 million and $ 537 million as of December 31, 2023 and December 31, 2022, respectively. The gain/(loss) attributable to noncontrolling interest of consolidated VIEs held by affiliates were $( 3 ) million, $ 52 million and $ 499 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:NetIncomeLossAttributableToNoncontrollingInterest |
The table above includes available-for-sale securities issued by related parties. This includes RMBS securities which had a fair value of $ 43 million and an amortized cost of $ 45 million. | text | 43 | monetaryItemType | text: <entity> 43 </entity> <entity type> monetaryItemType </entity type> <context> The table above includes available-for-sale securities issued by related parties. This includes RMBS securities which had a fair value of $ 43 million and an amortized cost of $ 45 million. </context> | us-gaap:SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesFairValue |
The table above includes available-for-sale securities issued by related parties. This includes RMBS securities which had a fair value of $ 43 million and an amortized cost of $ 45 million. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> The table above includes available-for-sale securities issued by related parties. This includes RMBS securities which had a fair value of $ 43 million and an amortized cost of $ 45 million. </context> | us-gaap:SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCost |
Includes $ 0.6 million of investments in related parties. | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 0.6 million of investments in related parties. </context> | us-gaap:SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCarryingAmount |
Includes $ 12 million of derivative assets with related parties. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 12 million of derivative assets with related parties. </context> | us-gaap:SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCarryingAmount |
Excludes $ 141 million of derivative liabilities. | text | 141 | monetaryItemType | text: <entity> 141 </entity> <entity type> monetaryItemType </entity type> <context> Excludes $ 141 million of derivative liabilities. </context> | us-gaap:SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCarryingAmount |
In November 2021, Corebridge Parent issued an $ 8.3 billion senior promissory note AIG. We used the net proceeds from the senior unsecured notes, the net proceeds from the hybrid junior subordinated notes and a portion of the borrowing of the Three-Year DDTL Facility, discussed in | text | 8.3 | monetaryItemType | text: <entity> 8.3 </entity> <entity type> monetaryItemType </entity type> <context> In November 2021, Corebridge Parent issued an $ 8.3 billion senior promissory note AIG. We used the net proceeds from the senior unsecured notes, the net proceeds from the hybrid junior subordinated notes and a portion of the borrowing of the Three-Year DDTL Facility, discussed in </context> | us-gaap:ShortTermBorrowings |
, to repay the principal balance and accrued interest of this note to AIG. The interest rate per annum was equal to LIBOR plus 100 basis points and accrued semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2022. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> , to repay the principal balance and accrued interest of this note to AIG. The interest rate per annum was equal to LIBOR plus 100 basis points and accrued semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2022. </context> | us-gaap:DerivativeBasisSpreadOnVariableRate |
Effective July 28, 2022, Corebridge Parent replaced AIG as applicant and guarantor on two letters of credit totaling £ 80 million, for the benefit of | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> Effective July 28, 2022, Corebridge Parent replaced AIG as applicant and guarantor on two letters of credit totaling £ 80 million, for the benefit of </context> | us-gaap:LettersOfCreditOutstandingAmount |
. Effective January 1, 2023, Corebridge Parent replaced this letter of credit with a single letter of credit of £ 80 million. The letter of credit supports | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> . Effective January 1, 2023, Corebridge Parent replaced this letter of credit with a single letter of credit of £ 80 million. The letter of credit supports </context> | us-gaap:LettersOfCreditOutstandingAmount |
Effective February 17, 2023, the letter of credit was reduced from £ 80 million to £ 26 million, and further reduced to £ 20 million on September 22, 2023. | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> Effective February 17, 2023, the letter of credit was reduced from £ 80 million to £ 26 million, and further reduced to £ 20 million on September 22, 2023. </context> | us-gaap:LettersOfCreditOutstandingAmount |
Effective February 17, 2023, the letter of credit was reduced from £ 80 million to £ 26 million, and further reduced to £ 20 million on September 22, 2023. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> Effective February 17, 2023, the letter of credit was reduced from £ 80 million to £ 26 million, and further reduced to £ 20 million on September 22, 2023. </context> | us-gaap:LettersOfCreditOutstandingAmount |
Effective February 17, 2023, the letter of credit was reduced from £ 80 million to £ 26 million, and further reduced to £ 20 million on September 22, 2023. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> Effective February 17, 2023, the letter of credit was reduced from £ 80 million to £ 26 million, and further reduced to £ 20 million on September 22, 2023. </context> | us-gaap:LettersOfCreditOutstandingAmount |
CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. | text | 250 | monetaryItemType | text: <entity> 250 </entity> <entity type> monetaryItemType </entity type> <context> CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. </context> | us-gaap:LongTermDebt |
CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. | text | 250 | monetaryItemType | text: <entity> 250 </entity> <entity type> monetaryItemType </entity type> <context> CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. </context> | us-gaap:LettersOfCreditOutstandingAmount |
CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. | text | 175 | monetaryItemType | text: <entity> 175 </entity> <entity type> monetaryItemType </entity type> <context> CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. </context> | us-gaap:LettersOfCreditOutstandingAmount |
CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> CRBG Bermuda had a $ 250 million letter of credit guaranteed by AIG that is used to support the credit for reinsurance provided by CRBG Bermuda. Effective May 9, 2022, the letter of credit was reduced from $ 250 million to $ 175 million, and effective May 12, 2022, Corebridge Parent has replaced AIG as the guarantor. Effective May 25, 2023, the letter of credit was reduced from $ 175 million to $ 125 million. </context> | us-gaap:LettersOfCreditOutstandingAmount |
Included purchases from related unconsolidated affiliates of $ 2.3 billion, $ 656.7 million and $ 156.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> Included purchases from related unconsolidated affiliates of $ 2.3 billion, $ 656.7 million and $ 156.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:CostOfRevenue |
Included purchases from related unconsolidated affiliates of $ 2.3 billion, $ 656.7 million and $ 156.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 656.7 | monetaryItemType | text: <entity> 656.7 </entity> <entity type> monetaryItemType </entity type> <context> Included purchases from related unconsolidated affiliates of $ 2.3 billion, $ 656.7 million and $ 156.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:CostOfRevenue |
Included purchases from related unconsolidated affiliates of $ 2.3 billion, $ 656.7 million and $ 156.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 156.3 | monetaryItemType | text: <entity> 156.3 </entity> <entity type> monetaryItemType </entity type> <context> Included purchases from related unconsolidated affiliates of $ 2.3 billion, $ 656.7 million and $ 156.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:CostOfRevenue |
The consolidated financial statements include the accounts and operations of Albemarle Corporation and our wholly owned, majority owned and controlled subsidiaries. Unless the context otherwise indicates, the terms “Albemarle,” “we,” “us,” “our” or “the Company” mean Albemarle Corporation and its consolidated subsidiaries. For entities that we control and are the primary beneficiary, but own less than 100%, we record the minority ownership as noncontrolling interest, except as noted below. We apply the equity method of accounting for investments in which we have an ownership interest from 20% to 50% or where we exercise significant influence over the related investee’s operations. In addition, the consolidated financial statements contained herein include our proportionate share of the results of operations of the MARBL Lithium Joint Venture (“MARBL”), which manages the exploration, development, mining, processing and production of lithium and other minerals from the Wodgina hard rock lithium mine project (“Wodgina”). As described in Note 10, “Investments,” the Company closed on the restructuring of the MARBL joint venture with Mineral Resources Limited (“MRL”) on October 18, 2023 to reduce our ownership interest in the MARBL joint venture to 50 % from 60 %. The consolidated financial statements reflect our ownership percentage of the MARBL joint venture during the periods presented. The joint venture is unincorporated with each investor holding an undivided interest in each asset and proportionately liable for each liability; therefore our proportionate share of assets, liabilities, revenue and expenses are included in the appropriate classifications in the consolidated financial statements. All significant intercompany accounts and transactions are eliminated in consolidation. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> The consolidated financial statements include the accounts and operations of Albemarle Corporation and our wholly owned, majority owned and controlled subsidiaries. Unless the context otherwise indicates, the terms “Albemarle,” “we,” “us,” “our” or “the Company” mean Albemarle Corporation and its consolidated subsidiaries. For entities that we control and are the primary beneficiary, but own less than 100%, we record the minority ownership as noncontrolling interest, except as noted below. We apply the equity method of accounting for investments in which we have an ownership interest from 20% to 50% or where we exercise significant influence over the related investee’s operations. In addition, the consolidated financial statements contained herein include our proportionate share of the results of operations of the MARBL Lithium Joint Venture (“MARBL”), which manages the exploration, development, mining, processing and production of lithium and other minerals from the Wodgina hard rock lithium mine project (“Wodgina”). As described in Note 10, “Investments,” the Company closed on the restructuring of the MARBL joint venture with Mineral Resources Limited (“MRL”) on October 18, 2023 to reduce our ownership interest in the MARBL joint venture to 50 % from 60 %. The consolidated financial statements reflect our ownership percentage of the MARBL joint venture during the periods presented. The joint venture is unincorporated with each investor holding an undivided interest in each asset and proportionately liable for each liability; therefore our proportionate share of assets, liabilities, revenue and expenses are included in the appropriate classifications in the consolidated financial statements. All significant intercompany accounts and transactions are eliminated in consolidation. </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
The consolidated financial statements include the accounts and operations of Albemarle Corporation and our wholly owned, majority owned and controlled subsidiaries. Unless the context otherwise indicates, the terms “Albemarle,” “we,” “us,” “our” or “the Company” mean Albemarle Corporation and its consolidated subsidiaries. For entities that we control and are the primary beneficiary, but own less than 100%, we record the minority ownership as noncontrolling interest, except as noted below. We apply the equity method of accounting for investments in which we have an ownership interest from 20% to 50% or where we exercise significant influence over the related investee’s operations. In addition, the consolidated financial statements contained herein include our proportionate share of the results of operations of the MARBL Lithium Joint Venture (“MARBL”), which manages the exploration, development, mining, processing and production of lithium and other minerals from the Wodgina hard rock lithium mine project (“Wodgina”). As described in Note 10, “Investments,” the Company closed on the restructuring of the MARBL joint venture with Mineral Resources Limited (“MRL”) on October 18, 2023 to reduce our ownership interest in the MARBL joint venture to 50 % from 60 %. The consolidated financial statements reflect our ownership percentage of the MARBL joint venture during the periods presented. The joint venture is unincorporated with each investor holding an undivided interest in each asset and proportionately liable for each liability; therefore our proportionate share of assets, liabilities, revenue and expenses are included in the appropriate classifications in the consolidated financial statements. All significant intercompany accounts and transactions are eliminated in consolidation. | text | 60 | percentItemType | text: <entity> 60 </entity> <entity type> percentItemType </entity type> <context> The consolidated financial statements include the accounts and operations of Albemarle Corporation and our wholly owned, majority owned and controlled subsidiaries. Unless the context otherwise indicates, the terms “Albemarle,” “we,” “us,” “our” or “the Company” mean Albemarle Corporation and its consolidated subsidiaries. For entities that we control and are the primary beneficiary, but own less than 100%, we record the minority ownership as noncontrolling interest, except as noted below. We apply the equity method of accounting for investments in which we have an ownership interest from 20% to 50% or where we exercise significant influence over the related investee’s operations. In addition, the consolidated financial statements contained herein include our proportionate share of the results of operations of the MARBL Lithium Joint Venture (“MARBL”), which manages the exploration, development, mining, processing and production of lithium and other minerals from the Wodgina hard rock lithium mine project (“Wodgina”). As described in Note 10, “Investments,” the Company closed on the restructuring of the MARBL joint venture with Mineral Resources Limited (“MRL”) on October 18, 2023 to reduce our ownership interest in the MARBL joint venture to 50 % from 60 %. The consolidated financial statements reflect our ownership percentage of the MARBL joint venture during the periods presented. The joint venture is unincorporated with each investor holding an undivided interest in each asset and proportionately liable for each liability; therefore our proportionate share of assets, liabilities, revenue and expenses are included in the appropriate classifications in the consolidated financial statements. All significant intercompany accounts and transactions are eliminated in consolidation. </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
Included in Trade accounts receivable at December 31, 2023 and 2022 is approximately $ 1.2 billion and $ 1.0 billion, respectively, arising from contracts with customers. The remaining balance of Trade accounts receivable at December 31, 2023 and 2022 primarily includes value-added taxes collected from customers on behalf of various taxing authorities. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> Included in Trade accounts receivable at December 31, 2023 and 2022 is approximately $ 1.2 billion and $ 1.0 billion, respectively, arising from contracts with customers. The remaining balance of Trade accounts receivable at December 31, 2023 and 2022 primarily includes value-added taxes collected from customers on behalf of various taxing authorities. </context> | us-gaap:ContractWithCustomerAssetNetCurrent |
Included in Trade accounts receivable at December 31, 2023 and 2022 is approximately $ 1.2 billion and $ 1.0 billion, respectively, arising from contracts with customers. The remaining balance of Trade accounts receivable at December 31, 2023 and 2022 primarily includes value-added taxes collected from customers on behalf of various taxing authorities. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> Included in Trade accounts receivable at December 31, 2023 and 2022 is approximately $ 1.2 billion and $ 1.0 billion, respectively, arising from contracts with customers. The remaining balance of Trade accounts receivable at December 31, 2023 and 2022 primarily includes value-added taxes collected from customers on behalf of various taxing authorities. </context> | us-gaap:ContractWithCustomerAssetNetCurrent |
The Company performed its annual goodwill impairment test as of October 31, 2023. The performance catalyst solutions (“PCS”) reporting unit, within the Ketjen segment, has experienced declining earnings from a changing market. During this annual impairment test, it was determined that it is expected to experience a continued decline in its foreseeable forecast, resulting in a fair value based on the present value future cash flows that was lower than its current carrying value. As a result, the Company recorded a $ 6.8 million impairment loss, representing the full value of goodwill associated with the PCS reporting unit. No evidence of impairment was noted for the other reporting units from the analysis. However, if the adjusted EBITDA or discount rate estimates for the Refining Solutions reporting unit negatively changed by 10%, the Refining Solutions fair value would be below its carrying value. | text | 6.8 | monetaryItemType | text: <entity> 6.8 </entity> <entity type> monetaryItemType </entity type> <context> The Company performed its annual goodwill impairment test as of October 31, 2023. The performance catalyst solutions (“PCS”) reporting unit, within the Ketjen segment, has experienced declining earnings from a changing market. During this annual impairment test, it was determined that it is expected to experience a continued decline in its foreseeable forecast, resulting in a fair value based on the present value future cash flows that was lower than its current carrying value. As a result, the Company recorded a $ 6.8 million impairment loss, representing the full value of goodwill associated with the PCS reporting unit. No evidence of impairment was noted for the other reporting units from the analysis. However, if the adjusted EBITDA or discount rate estimates for the Refining Solutions reporting unit negatively changed by 10%, the Refining Solutions fair value would be below its carrying value. </context> | us-gaap:GoodwillImpairmentLoss |
On October 25, 2022, the Company completed the acquisition of all of the outstanding equity of Guangxi Tianyuan New Energy Materials Co., Ltd. (“Qinzhou”), for approximately $ 200 million in cash, which included the deferral of approximately $ 29 million. The full amount of the deferral, net of working capital adjustments, was paid in installments ending in July 2023. Qinzhou's operations include a lithium processing plant strategically positioned near the Port of Qinzhou in Guangxi, which began commercial production in the first half of 2022. The plant has designed annual conversion capacity of up to 25,000 metric tonnes of lithium carbonate equivalent (“LCE”) and is capable of producing battery-grade lithium carbonate and lithium hydroxide. | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> On October 25, 2022, the Company completed the acquisition of all of the outstanding equity of Guangxi Tianyuan New Energy Materials Co., Ltd. (“Qinzhou”), for approximately $ 200 million in cash, which included the deferral of approximately $ 29 million. The full amount of the deferral, net of working capital adjustments, was paid in installments ending in July 2023. Qinzhou's operations include a lithium processing plant strategically positioned near the Port of Qinzhou in Guangxi, which began commercial production in the first half of 2022. The plant has designed annual conversion capacity of up to 25,000 metric tonnes of lithium carbonate equivalent (“LCE”) and is capable of producing battery-grade lithium carbonate and lithium hydroxide. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. | text | 106.6 | monetaryItemType | text: <entity> 106.6 </entity> <entity type> monetaryItemType </entity type> <context> The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment |
The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. | text | 16.3 | monetaryItemType | text: <entity> 16.3 </entity> <entity type> monetaryItemType </entity type> <context> The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill |
The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. | text | 5.5 | monetaryItemType | text: <entity> 5.5 </entity> <entity type> monetaryItemType </entity type> <context> The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities |
The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. | text | 7.1 | monetaryItemType | text: <entity> 7.1 </entity> <entity type> monetaryItemType </entity type> <context> The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilities |
The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. | text | 76.8 | monetaryItemType | text: <entity> 76.8 </entity> <entity type> monetaryItemType </entity type> <context> The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon third-party appraisals for certain assets. The fair value of the assets and liabilities was primarily related to Property, plant and equipment of $ 106.6 million, Other intangibles of $ 16.3 million, net current liabilities of $ 5.5 million, and long-term liabilities of $ 7.1 million. The excess of the purchase price over the fair value of the net assets acquired was $ 76.8 million and was recorded as Goodwill. </context> | us-gaap:Goodwill |
Acquisition, integration and potential divestiture related costs for the years ended December 31, 2023, 2022 and 2021 of $ 26.8 million, $ 16.3 million and $ 12.7 million were included primarily in Selling, general and administrative expenses, respectively, on our consolidated statements of income. These include costs for the Qinzhou acquisitions noted above, as well as various other completed or potential acquisitions and divestitures. | text | 26.8 | monetaryItemType | text: <entity> 26.8 </entity> <entity type> monetaryItemType </entity type> <context> Acquisition, integration and potential divestiture related costs for the years ended December 31, 2023, 2022 and 2021 of $ 26.8 million, $ 16.3 million and $ 12.7 million were included primarily in Selling, general and administrative expenses, respectively, on our consolidated statements of income. These include costs for the Qinzhou acquisitions noted above, as well as various other completed or potential acquisitions and divestitures. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
Acquisition, integration and potential divestiture related costs for the years ended December 31, 2023, 2022 and 2021 of $ 26.8 million, $ 16.3 million and $ 12.7 million were included primarily in Selling, general and administrative expenses, respectively, on our consolidated statements of income. These include costs for the Qinzhou acquisitions noted above, as well as various other completed or potential acquisitions and divestitures. | text | 16.3 | monetaryItemType | text: <entity> 16.3 </entity> <entity type> monetaryItemType </entity type> <context> Acquisition, integration and potential divestiture related costs for the years ended December 31, 2023, 2022 and 2021 of $ 26.8 million, $ 16.3 million and $ 12.7 million were included primarily in Selling, general and administrative expenses, respectively, on our consolidated statements of income. These include costs for the Qinzhou acquisitions noted above, as well as various other completed or potential acquisitions and divestitures. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
Acquisition, integration and potential divestiture related costs for the years ended December 31, 2023, 2022 and 2021 of $ 26.8 million, $ 16.3 million and $ 12.7 million were included primarily in Selling, general and administrative expenses, respectively, on our consolidated statements of income. These include costs for the Qinzhou acquisitions noted above, as well as various other completed or potential acquisitions and divestitures. | text | 12.7 | monetaryItemType | text: <entity> 12.7 </entity> <entity type> monetaryItemType </entity type> <context> Acquisition, integration and potential divestiture related costs for the years ended December 31, 2023, 2022 and 2021 of $ 26.8 million, $ 16.3 million and $ 12.7 million were included primarily in Selling, general and administrative expenses, respectively, on our consolidated statements of income. These include costs for the Qinzhou acquisitions noted above, as well as various other completed or potential acquisitions and divestitures. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
On June 1, 2021, the Company completed the sale of its fine chemistry services (“FCS”) business to W. R. Grace & Co. (“Grace”) for proceeds of approximately $ 570 million, consisting of $ 300 million in cash and the issuance to Albemarle of preferred equity of a Grace subsidiary having an aggregate stated value of $ 270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and began accruing payment-in-kind (“PIK”) dividends at an annual rate of 12 % on June 1, 2023. This preferred equity can be redeemed by Albemarle when the accumulated balance reaches 200% of its original value. The balance of this preferred equity is reported in Investments in the consolidated balance sheets. | text | 570 | monetaryItemType | text: <entity> 570 </entity> <entity type> monetaryItemType </entity type> <context> On June 1, 2021, the Company completed the sale of its fine chemistry services (“FCS”) business to W. R. Grace & Co. (“Grace”) for proceeds of approximately $ 570 million, consisting of $ 300 million in cash and the issuance to Albemarle of preferred equity of a Grace subsidiary having an aggregate stated value of $ 270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and began accruing payment-in-kind (“PIK”) dividends at an annual rate of 12 % on June 1, 2023. This preferred equity can be redeemed by Albemarle when the accumulated balance reaches 200% of its original value. The balance of this preferred equity is reported in Investments in the consolidated balance sheets. </context> | us-gaap:ProceedsFromDivestitureOfBusinesses |
On June 1, 2021, the Company completed the sale of its fine chemistry services (“FCS”) business to W. R. Grace & Co. (“Grace”) for proceeds of approximately $ 570 million, consisting of $ 300 million in cash and the issuance to Albemarle of preferred equity of a Grace subsidiary having an aggregate stated value of $ 270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and began accruing payment-in-kind (“PIK”) dividends at an annual rate of 12 % on June 1, 2023. This preferred equity can be redeemed by Albemarle when the accumulated balance reaches 200% of its original value. The balance of this preferred equity is reported in Investments in the consolidated balance sheets. | text | 270 | monetaryItemType | text: <entity> 270 </entity> <entity type> monetaryItemType </entity type> <context> On June 1, 2021, the Company completed the sale of its fine chemistry services (“FCS”) business to W. R. Grace & Co. (“Grace”) for proceeds of approximately $ 570 million, consisting of $ 300 million in cash and the issuance to Albemarle of preferred equity of a Grace subsidiary having an aggregate stated value of $ 270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and began accruing payment-in-kind (“PIK”) dividends at an annual rate of 12 % on June 1, 2023. This preferred equity can be redeemed by Albemarle when the accumulated balance reaches 200% of its original value. The balance of this preferred equity is reported in Investments in the consolidated balance sheets. </context> | us-gaap:PreferredStockValueOutstanding |
On June 1, 2021, the Company completed the sale of its fine chemistry services (“FCS”) business to W. R. Grace & Co. (“Grace”) for proceeds of approximately $ 570 million, consisting of $ 300 million in cash and the issuance to Albemarle of preferred equity of a Grace subsidiary having an aggregate stated value of $ 270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and began accruing payment-in-kind (“PIK”) dividends at an annual rate of 12 % on June 1, 2023. This preferred equity can be redeemed by Albemarle when the accumulated balance reaches 200% of its original value. The balance of this preferred equity is reported in Investments in the consolidated balance sheets. | text | 12 | percentItemType | text: <entity> 12 </entity> <entity type> percentItemType </entity type> <context> On June 1, 2021, the Company completed the sale of its fine chemistry services (“FCS”) business to W. R. Grace & Co. (“Grace”) for proceeds of approximately $ 570 million, consisting of $ 300 million in cash and the issuance to Albemarle of preferred equity of a Grace subsidiary having an aggregate stated value of $ 270 million. The preferred equity can be redeemed at Grace’s option under certain conditions and began accruing payment-in-kind (“PIK”) dividends at an annual rate of 12 % on June 1, 2023. This preferred equity can be redeemed by Albemarle when the accumulated balance reaches 200% of its original value. The balance of this preferred equity is reported in Investments in the consolidated balance sheets. </context> | us-gaap:PreferredStockDividendRatePercentage |
As part of the transaction, Grace acquired our manufacturing facilities located in South Haven, Michigan and Tyrone, Pennsylvania. The sale of the FCS business reflects the Company’s commitment to investing in its core, growth-oriented business segments. During the year ended December 31, 2021 we recorded a gain of $ 428.4 million ($ 330.9 million after taxes) related to the sale of this business. | text | 428.4 | monetaryItemType | text: <entity> 428.4 </entity> <entity type> monetaryItemType </entity type> <context> As part of the transaction, Grace acquired our manufacturing facilities located in South Haven, Michigan and Tyrone, Pennsylvania. The sale of the FCS business reflects the Company’s commitment to investing in its core, growth-oriented business segments. During the year ended December 31, 2021 we recorded a gain of $ 428.4 million ($ 330.9 million after taxes) related to the sale of this business. </context> | us-gaap:GainLossOnSaleOfBusiness |
(a) During the first quarter of 2022, the Company issued a promissory note with a present value of $ 10.9 million for land purchased in Kings Mountain, North Carolina. The promissory note is payable in equal annual installments from the years 2027 to 2048. | text | 10.9 | monetaryItemType | text: <entity> 10.9 </entity> <entity type> monetaryItemType </entity type> <context> (a) During the first quarter of 2022, the Company issued a promissory note with a present value of $ 10.9 million for land purchased in Kings Mountain, North Carolina. The promissory note is payable in equal annual installments from the years 2027 to 2048. </context> | us-gaap:NotesIssued1 |
As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. | text | 60 | percentItemType | text: <entity> 60 </entity> <entity type> percentItemType </entity type> <context> As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. | text | 122.7 | monetaryItemType | text: <entity> 122.7 </entity> <entity type> monetaryItemType </entity type> <context> As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. </context> | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. | text | 135.9 | monetaryItemType | text: <entity> 135.9 </entity> <entity type> monetaryItemType </entity type> <context> As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. </context> | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. | text | 480 | monetaryItemType | text: <entity> 480 </entity> <entity type> monetaryItemType </entity type> <context> As part of the purchase price paid for the acquisition of a 60 % interest in Wodgina in 2019, the Company transferred $ 17.3 million, $ 122.7 million and $ 135.9 million of its construction in progress of the designated Kemerton assets during the years ended December 31, 2023, 2022 and 2021, respectively, representing MRL’s 40 % interest in the assets at the time of transfer. Since the acquisition, the Company has transferred the full $ 480 million of construction in progress to MRL, as defined in the original purchase agreement. In addition, during the years ended December 31, 2022 and 2021, the Company recorded expenses of $ 8.4 million and $ 132.4 million, respectively, related to cost overruns of the designated Kemerton assets. The cash outflow for these assets was recorded in Capital expenditures within Cash flows from investing activities on the condensed consolidated statements of cash flows. The non-cash transfer of these assets is recorded in Non-cash transfer of 40 % value of construction in progress of the Kemerton plant to MRL within Cash flows from operating activities on the consolidated statements of cash flows. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
At December 31, 2023, there were 165,159 common stock equivalents not included in the computation of diluted earnings per share because their effect would have been anti-dilutive. | text | 165159 | sharesItemType | text: <entity> 165159 </entity> <entity type> sharesItemType </entity type> <context> At December 31, 2023, there were 165,159 common stock equivalents not included in the computation of diluted earnings per share because their effect would have been anti-dilutive. </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
Included in the calculation of basic earnings per share are unvested restricted stock awards that contain nonforfeitable rights to dividends. At December 31, 2023, there were 4,500 unvested shares of restricted stock awards outstanding. | text | 4500 | sharesItemType | text: <entity> 4500 </entity> <entity type> sharesItemType </entity type> <context> Included in the calculation of basic earnings per share are unvested restricted stock awards that contain nonforfeitable rights to dividends. At December 31, 2023, there were 4,500 unvested shares of restricted stock awards outstanding. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
We have the authority to issue 15 million shares of preferred stock in one or more classes or series. As of December 31, 2023, no shares of preferred stock have been issued. | text | 15 | sharesItemType | text: <entity> 15 </entity> <entity type> sharesItemType </entity type> <context> We have the authority to issue 15 million shares of preferred stock in one or more classes or series. As of December 31, 2023, no shares of preferred stock have been issued. </context> | us-gaap:PreferredStockSharesAuthorized |
We have the authority to issue 15 million shares of preferred stock in one or more classes or series. As of December 31, 2023, no shares of preferred stock have been issued. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> We have the authority to issue 15 million shares of preferred stock in one or more classes or series. As of December 31, 2023, no shares of preferred stock have been issued. </context> | us-gaap:PreferredStockSharesIssued |
On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $ 0.01 per share, at a price to the public of $ 153.00 per share. The Company also granted to the Underwriters an option to purchase up to an additional 1,274,509 shares for a period of 30 days, which was exercised. The total gross proceeds from this offering were approximately $ 1.5 billion, before deducting expenses, underwriting discounts and commissions. | text | 8496773 | sharesItemType | text: <entity> 8496773 </entity> <entity type> sharesItemType </entity type> <context> On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $ 0.01 per share, at a price to the public of $ 153.00 per share. The Company also granted to the Underwriters an option to purchase up to an additional 1,274,509 shares for a period of 30 days, which was exercised. The total gross proceeds from this offering were approximately $ 1.5 billion, before deducting expenses, underwriting discounts and commissions. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $ 0.01 per share, at a price to the public of $ 153.00 per share. The Company also granted to the Underwriters an option to purchase up to an additional 1,274,509 shares for a period of 30 days, which was exercised. The total gross proceeds from this offering were approximately $ 1.5 billion, before deducting expenses, underwriting discounts and commissions. | text | 0.01 | perShareItemType | text: <entity> 0.01 </entity> <entity type> perShareItemType </entity type> <context> On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $ 0.01 per share, at a price to the public of $ 153.00 per share. The Company also granted to the Underwriters an option to purchase up to an additional 1,274,509 shares for a period of 30 days, which was exercised. The total gross proceeds from this offering were approximately $ 1.5 billion, before deducting expenses, underwriting discounts and commissions. </context> | us-gaap:CommonStockParOrStatedValuePerShare |
On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $ 0.01 per share, at a price to the public of $ 153.00 per share. The Company also granted to the Underwriters an option to purchase up to an additional 1,274,509 shares for a period of 30 days, which was exercised. The total gross proceeds from this offering were approximately $ 1.5 billion, before deducting expenses, underwriting discounts and commissions. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $ 0.01 per share, at a price to the public of $ 153.00 per share. The Company also granted to the Underwriters an option to purchase up to an additional 1,274,509 shares for a period of 30 days, which was exercised. The total gross proceeds from this offering were approximately $ 1.5 billion, before deducting expenses, underwriting discounts and commissions. </context> | us-gaap:StockIssuedDuringPeriodValueNewIssues |
In November 2016, our Board of Directors authorized an increase in the number of shares the Company is permitted to repurchase under our share repurchase program, pursuant to which the Company is now permitted to repurchase up to a maximum of 15 million shares, including those previously authorized but not yet repurchased. | text | 15 | sharesItemType | text: <entity> 15 </entity> <entity type> sharesItemType </entity type> <context> In November 2016, our Board of Directors authorized an increase in the number of shares the Company is permitted to repurchase under our share repurchase program, pursuant to which the Company is now permitted to repurchase up to a maximum of 15 million shares, including those previously authorized but not yet repurchased. </context> | us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased |
There were no shares of the Company’s common stock repurchased during the year ended December 31, 2023, 2022 or 2021. As of December 31, 2023, there were 7,396,263 remaining shares available for repurchase under the Company’s authorized share repurchase program. | text | 7396263 | sharesItemType | text: <entity> 7396263 </entity> <entity type> sharesItemType </entity type> <context> There were no shares of the Company’s common stock repurchased during the year ended December 31, 2023, 2022 or 2021. As of December 31, 2023, there were 7,396,263 remaining shares available for repurchase under the Company’s authorized share repurchase program. </context> | us-gaap:StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased |
Included $ 213.4 million and $ 133.2 million at December 31, 2023 and 2022, respectively, of work in process in our Energy Storage segment. | text | 213.4 | monetaryItemType | text: <entity> 213.4 </entity> <entity type> monetaryItemType </entity type> <context> Included $ 213.4 million and $ 133.2 million at December 31, 2023 and 2022, respectively, of work in process in our Energy Storage segment. </context> | us-gaap:InventoryWorkInProcessNetOfReserves |
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