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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2020
Mineral Resources Limited Wodgina Project |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions | The following table summarizes the consideration paid for the joint venture and the amounts of the assets acquired and liabilities assumed as of the acquisition date, which have been allocated on a preliminary basis (in thousands):
Total purchase price: |
Cash paid | $ | 820,000 |
Fair value of 40% interest in Kemerton assets | 480,000 |
Purchase agreement completion adjustment and other adjustments | 22,566 |
Total purchase price | $ | 1,322,566 |
Net assets acquired: |
Inventories | $ | 33,900 |
Other current assets | 11,280 |
Property, plant and equipment: |
Land improvements | 2,912 |
Buildings and improvements | 19,268 |
Machinery and equipment | 163,808 |
Mineral rights and reserves | 1,058,700 |
Construction in progress | 103,700 |
Current liabilities | (10,695) |
Long-term debt(a) | (55,806) |
Other noncurrent liabilities | (23,296) |
Total identifiable net assets | 1,303,771 |
Goodwill | 18,795 |
Total net assets acquired | $ | 1,322,566 |
(a) Represents 60% ownership interest in finance lease acquired. See Note 10, “Leases,” for further information on the Company’s leases.

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