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v3.25.1

Other Noncurrent Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2025
Other Liabilities, Noncurrent [Abstract] |
Other Noncurrent Liabilities | Other noncurrent liabilities consist of the following at March 31, 2025 and December 31, 2024 (in thousands):
| March 31, |  | December 31,
| 2025 |  | 2024
Transition tax on foreign earnings(a) | $ | 44,647 |  |  | $ | 44,647 |
Operating leases(b) | 101,349 |  |  | 99,514 |
Liabilities related to uncertain tax positions | 242,611 |  |  | 259,586 |
Executive deferred compensation plan obligation | 34,552 |  |  | 38,243 |
Environmental liabilities(c) | 15,926 |  |  | 15,783 |
Asset retirement obligations | 96,724 |  |  | 94,854 |
Tax indemnification liability(d) | 11,044 |  |  | 12,567 |
Deferred revenue | 406,152 |  |  | 78,027 |
Capital expenditure incentive payables(e) | 74,506 |  |  | 74,506 |
Other(f) | 98,432 |  |  | 101,477 |
Total | $ | 1,125,943 |  |  | $ | 819,204 |
(a)Noncurrent portion of one-time transition tax on foreign earnings. (b)See Note 13, “Leases.” (c)See Note 7, “Commitments and Contingencies.” (d)Indemnification of certain income and non-income tax liabilities, primarily associated with the Chemetall Surface Treatment entities sold in 2017. (e)When constructing new facilities or making major enhancements to existing facilities, we may have the opportunity to enter into incentive agreements with local government agencies in order to reduce certain state and local tax expenditures. Under these agreements, we transfer the related assets to various local government entities and receive bonds. We immediately lease the facilities from the local government entities and have an option to repurchase the facilities for a nominal amount upon tendering the bonds to the local government entities at various predetermined dates. The bonds and the associated obligations for the leases of the facilities offset values, and the underlying assets are recorded in property, plant and equipment. (f)No individual component exceeds 5% of total liabilities.

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