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Financial Information and Accounting Policies
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Financial Information and Accounting Policies Financial Information and Accounting Policies
In our opinion, the consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") applicable to interim period financial statements and reflect all adjustments necessary for a fair statement of results of operations for the three and six months ended June 30, 2025 and 2024, cash flows for the six months ended June 30, 2025 and 2024, changes in equity for the three and six months ended June 30, 2025 and 2024, and our financial positions as of June 30, 2025 and December 31, 2024. All such adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the Notes. The results of operations for the three and six months ended June 30, 2025 and 2024 are not necessarily indicative of the results of operations for the full year. The consolidated balance sheet as of December 31, 2024 was audited by our independent registered public accountants. Our accounting policies are set forth in detail in Note 1 to the consolidated financial statements included with our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") for the year ended December 31, 2024 (the "2024 Form 10-K").
GSS Divestiture
On November 1, 2024, we completed the sale of our Global Specialty Solutions ("GSS") business to Environmental Science US, LLC d/b/a Envu ("Envu") and received proceeds, net of the preliminary working capital adjustment, of approximately $340 million. During the second quarter of 2025, certain foreign assets, consisting primarily of working capital balances, were transferred to Envu as a result of local timing constraints at the time of the sale. The remaining foreign assets are expected to transfer during 2025. We received consideration for the foreign assets, which were not material, at closing of the sale in 2024 and no additional consideration was or will be received at the date of transfer.
Intention to Divest India Commercial Business
In July 2025, the Board of Directors approved a plan to divest from the Company’s commercial business in India. The sale process is underway and is expected to conclude within the next twelve months. Therefore, we plan to classify the assets related to this business as held for sale beginning in the third quarter of 2025. The business does not qualify for recognition as discontinued operations and will continue to be presented in the Company’s operating results until a transaction is completed. In accordance with ASC 360-45-9, Long-Lived Assets Classified as Held for Sale, we will evaluate the assets related to the sale for impairment and, if necessary, record the related assets at the lower of its carrying value or fair value less costs to sell.