Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2024

Property, plant and equipment [abstract]

Schedule of property, plant and equipment


	Owned Assets (a)		Right-of-use assets (c)		Total
Net book value at December 31, 2024	$	3,501,683	$	695,826	$	4,197,509
Net book value at December 31, 2023	$	3,654,475	$	757,293	$	4,411,768


	Buildings, plant installations and machinery		Plants Under Construction1		Ocean vessels		Other		TOTAL
Cost at January 1, 2024	$	4,880,207	$	1,355,497	$	240,723	$	128,663	$	6,605,090
Additions	97,439		123,881		2,013		1,807		225,140
Disposals and other	(91,338)		(8,266)		(277)		(550)		(100,431)
Transfers	1,471,112		(1,471,112)		—		—		—
Cost at December 31, 2024	6,357,420		—		242,459		129,920		6,729,799
Accumulated depreciation at January 1, 2024	2,794,702		—		61,390		94,523		2,950,615
Depreciation	236,398		—		11,829		2,090		250,317
Asset impairment charge (b)	124,788		—		—		—		124,788
Disposals and other	(96,828)		—		—		(776)		(97,604)
Accumulated depreciation at December 31, 2024	3,059,060		—		73,219		95,837		3,228,116
Net book value at December 31, 2024	$	3,298,360	$	—	$	169,240	$	34,083	$	3,501,683

1 Geismar 3 completed its commercial performance tests and reached the use intended by management in 2024. As a result, it was transferred to Buildings, Plant Installations & Machinery during the year. Included in the final cost of the Geismar 3 plant is $201 million (2023: $150 million) of capitalized interest and finance charges.


	Buildings, plant installations and machinery		Plants under construction		Ocean vessels		Other		TOTAL
Cost at January 1, 2023	$	5,000,999	$	1,001,888	$	240,867	$	140,081	$	6,383,835
Additions	174,058		353,609		253		4,153		532,073
Disposals and other	(294,850)		—		(397)		(15,571)		(310,818)

Cost at December 31, 2023	4,880,207		1,355,497		240,723		128,663		6,605,090
Accumulated depreciation at January 1, 2023	2,827,870		—		49,310		107,850		2,985,030
Depreciation	248,783		—		12,080		2,153		263,016
Disposals and other	(281,951)		—		—		(15,480)		(297,431)
Accumulated depreciation at December 31, 2023	2,794,702		—		61,390		94,523		2,950,615
Net book value at December 31, 2023	$	2,085,505	$	1,355,497	$	179,333	$	34,140	$	3,654,475

Schedule of changes on actual and expected depreciation expense

Based on natural gas feedstock availability and the completion of Geismar 3, the Company has extended the useful lives of the Chile facilities and Geismar 1 and 2. The effect of these changes on actual and expected depreciation expense was as follows.


	2024		2025		2026		2027		2028		Later
(Decrease) increase in depreciation expense	$	(9,691)	$	(61,099)	$	(10,193)	$	(10,985)	$	(13,363)	$	105,331

Schedule of level 3 inputs and the sensitivities of the fair value

The following table presents the Level 3 inputs and the sensitivities of the fair value less costs of disposal model to changes in these inputs:


	Sensitivities
Valuation input	Input value or range	Change in input	Resulting change in valuation
Methanol price forecast	$317 - $365 per MT	+/- $25 per MT	$+24/-27 million
Natural gas availability	Annual estimates based on third party forecasts	+/-10%	$+19/-21 million
Discount rate (after-tax)	9%	+/- 1%	$+/-2 million

Schedule of right-of-use assets


	Ocean vessels		Terminals and tanks		Other		TOTAL
Cost at January 1, 2024	$	910,721	$	332,441	$	58,621	$	1,301,783
Additions	40,055		46,029		4,721		90,805
Disposals and other	(15,607)		(11,921)		(4,980)		(32,508)
Cost at December 31, 2024	935,169		366,549		58,362		1,360,080
Accumulated depreciation at January 1, 2024	314,324		196,303		33,863		544,490
Depreciation	107,690		38,011		6,364		152,065
Disposals and other	(15,607)		(11,743)		(4,951)		(32,301)
Accumulated depreciation at December 31, 2024	406,407		222,571		35,276		664,254
Net book value at December 31, 2024	$	528,762	$	143,978	$	23,086	$	695,826


	Ocean vessels		Terminals and tanks		Other		TOTAL
Cost at January 1, 2023	$	846,977	$	286,036	$	68,701	$	1,201,714
Additions	83,333		52,909		5,951		142,193
Disposals and other	(19,589)		(6,504)		(16,031)		(42,124)
Cost at December 31, 2023	910,721		332,441		58,621		1,301,783
Accumulated depreciation at January 1, 2023	245,873		160,163		39,200		445,236
Depreciation	88,040		36,140		6,583		130,763
Disposals and other	(19,589)		—		(11,920)		(31,509)
Accumulated depreciation at December 31, 2023	314,324		196,303		33,863		544,490
Net book value at December 31, 2023	$	596,397	$	136,138	$	24,758	$	757,293