Commitments and Contingencies (Tables)

12 Months Ended

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