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OTHER ASSETS | 9 Months Ended
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Sep. 30, 2025
Other Assets [Abstract] |
OTHER ASSETS | NOTE 8. OTHER ASSETS Included in other assets were the following:
| September 30, 2025 |  | December 31, 2024 |  | September 30, 2024
Other Assets | ($ in millions)
Supply contracts | $ | 986.4 |  |  | $ | 1,047.3 |  |  | $ | 1,067.2 |
Pension assets | 69.1 |  |  | 43.3 |  |  | 1.7 |
Investments in non-consolidated affiliates | 21.8 |  |  | 23.0 |  |  | — |
Other | 93.1 |  |  | 71.5 |  |  | 62.6 |
Other assets | $ | 1,170.4 |  |  | $ | 1,185.1 |  |  | $ | 1,131.5 |
For the nine months ended September 30, 2024, payments of $58.6 million were made under other long-term supply contracts for energy modernization projects in the U.S. Gulf Coast. Amortization expense of $20.9 million and $18.3 million for the three months ended September 30, 2025 and 2024, respectively, and amortization expense of $62.7 million and $54.9 million for the nine months ended September 30, 2025 and 2024, respectively, was recognized within cost of goods sold related to our long-term supply contracts and is reflected in depreciation and amortization on the condensed statements of cash flows. Investments in Non-consolidated Affiliates Olin Corporation and Plug Power, Inc. have a joint venture named Hidrogenii, LLC (Hidrogenii), a strategic partnership that aims to leverage the strengths of both companies to advance hydrogen production and utilization. The joint venture began with the construction of a 15-ton-per-day hydrogen liquefaction plant in St. Gabriel, LA, which commenced operations in the second quarter 2025. Hidrogenii is owned 50% by Plug Power LA JV, LLC, a wholly owned subsidiary of Plug Power, Inc., and 50% by Niloco Hydrogen Holdings LLC, a wholly owned subsidiary of Olin Corporation. The investments in, and the operating results of, 50%-or-less-owned entities not controlled by Olin are included in the condensed financial statements using the equity method basis of accounting and classified as non-consolidated affiliates. The following table summarizes our investments in non-consolidated affiliates:
| Nine Months Ended September 30, 2025
Investments in Non-consolidated Affiliates | ($ in millions)
Balance at beginning of year | $ | 23.0 |  |  |
Capital contributions | 1.6 |  |  |
Losses of non-consolidated affiliates | (2.4) |  |  |
Other(1) | 0.4 |  |  |
Balance at end of period | $ | 21.8 |  |  |
(1)Represents the impact of Olin’s portion of the investment tax credit of $22.0 million, which is the basis difference between our equity ownership of Hidrogenii and Olin’s investment, and will be recognized over the useful life of the underlying operational assets.
Schedule of Other Assets | Included in other assets were the following:
| September 30, 2025 |  | December 31, 2024 |  | September 30, 2024
Other Assets | ($ in millions)
Supply contracts | $ | 986.4 |  |  | $ | 1,047.3 |  |  | $ | 1,067.2 |
Pension assets | 69.1 |  |  | 43.3 |  |  | 1.7 |
Investments in non-consolidated affiliates | 21.8 |  |  | 23.0 |  |  | — |
Other | 93.1 |  |  | 71.5 |  |  | 62.6 |
Other assets | $ | 1,170.4 |  |  | $ | 1,185.1 |  |  | $ | 1,131.5 |
For the nine months ended September 30, 2024, payments of $58.6 million were made under other long-term supply contracts for energy modernization projects in the U.S. Gulf Coast. Amortization expense of $20.9 million and $18.3 million for the three months ended September 30, 2025 and 2024, respectively, and amortization expense of $62.7 million and $54.9 million for the nine months ended September 30, 2025 and 2024, respectively, was recognized within cost of goods sold related to our long-term supply contracts and is reflected in depreciation and amortization on the condensed statements of cash flows.
Investments in and Advances to Affiliates | Investments in Non-consolidated Affiliates Olin Corporation and Plug Power, Inc. have a joint venture named Hidrogenii, LLC (Hidrogenii), a strategic partnership that aims to leverage the strengths of both companies to advance hydrogen production and utilization. The joint venture began with the construction of a 15-ton-per-day hydrogen liquefaction plant in St. Gabriel, LA, which commenced operations in the second quarter 2025. Hidrogenii is owned 50% by Plug Power LA JV, LLC, a wholly owned subsidiary of Plug Power, Inc., and 50% by Niloco Hydrogen Holdings LLC, a wholly owned subsidiary of Olin Corporation. The investments in, and the operating results of, 50%-or-less-owned entities not controlled by Olin are included in the condensed financial statements using the equity method basis of accounting and classified as non-consolidated affiliates. The following table summarizes our investments in non-consolidated affiliates:
| Nine Months Ended September 30, 2025
Investments in Non-consolidated Affiliates | ($ in millions)
Balance at beginning of year | $ | 23.0 |  |  |
Capital contributions | 1.6 |  |  |
Losses of non-consolidated affiliates | (2.4) |  |  |
Other(1) | 0.4 |  |  |
Balance at end of period | $ | 21.8 |  |  |
(1)Represents the impact of Olin’s portion of the investment tax credit of $22.0 million, which is the basis difference between our equity ownership of Hidrogenii and Olin’s investment, and will be recognized over the useful life of the underlying operational assets.

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