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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract] |
Activity in Recorded Environmental Liabilities Activity | We had the following activity in our recorded environmental liabilities for the years ended December 31, 2020, 2019 and 2018 (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Balance, beginning of year | $ | 42,592 |  |  | $ | 49,569 |  |  | $ | 39,808 |
Expenditures | (3,290) |  |  | (6,037) |  |  | (6,885) |
Accretion of discount | 925 |  |  | 1,030 |  |  | 1,283 |
Additions and changes in estimates(a) | 3,815 |  |  | 1,129 |  |  | 17,039 |
Foreign currency translation adjustments and other | 1,729 |  |  | (3,099) |  |  | (1,676) |
Balance, end of year | 45,771 |  |  | 42,592 |  |  | 49,569 |
Less amounts reported in Accrued expenses | 9,473 |  |  | 9,534 |  |  | 9,193 |
Amounts reported in Other noncurrent liabilities | $ | 36,298 |  |  | $ | 33,058 |  |  | $ | 40,376 |
(a)Additions in 2018 primarily related to the indemnification of the buyer of a formerly owned site. As defined in the agreement of sale, this indemnification has a set cutoff date in 2024, at which point we will no longer be required to provide financial coverage.
Schedule of Change in Asset Retirement Obligation | The following is a reconciliation of our beginning and ending asset retirement obligation balances for 2020 and 2019 (in thousands):
| Year Ended December 31,
| 2020 |  | 2019
Balance, beginning of year | $ | 60,246 |  |  | $ | 41,489 |
Acquisitions(a) | 1,222 |  |  | 4,650 |
Additions and changes in estimates(b) | 15,750 |  |  | 14,734 |
Accretion of discount | 2,531 |  |  | 2,035 |
Liabilities settled | (3,980) |  |  | (3,289) |
Foreign currency translation adjustments and other | 103 |  |  | 627 |
Balance, end of year | $ | 75,872 |  |  | $ | 60,246 |
Less amounts reported in Accrued expenses | 1,016 |  |  | 4,398 |
Amounts reported in Other noncurrent liabilities | $ | 74,856 |  |  | $ | 55,848 |
(a) Represents purchase price adjustments for the Wodgina Project acquisition recorded during the year ended December 31, 2020 and 2019. See Note 2, “Acquisitions,” for additional information. (b) Additions in 2020 and 2019 of $15.8 million and $11.1 million, respectively, related to new asset retirement obligations in Chile and Australia. The remaining $3.6 million of additions in 2019 related to the update of an estimate at a site formerly owned by Albemarle.
Letters of Credit and Guarantee Agreements | The following table summarizes our letters of credit and guarantee agreements (in thousands):
| 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter
Letters of credit and other guarantees | $ | 79,282 |  |  | $ | 4,476 |  |  | $ | 1,501 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,872 |

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- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13201-110859 + Details
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