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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for (Benefit from) Income Taxes

The following table sets forth the components of the Company’s provision for (benefit from) income taxes for the years ended December 31, 2024, 2023 and 2022.

		Year Ended December 31,
		2024				2023				2022
Current tax expense (benefit):
U.S. federal		$	6			$	25			$	83
U.S. state and local			—				(5	)			13
International			62				57				47
Total current tax expense			68				77				143
Deferred tax (benefit) expense:
U.S. federal			(11	)			(112	)			8
U.S. state and local			(10	)			(24	)			(2	)
International			(6	)			(22	)			14
Total deferred tax (benefit) expense			(27	)			(158	)			20
Total provision for (benefit from) income taxes		$	41			$	(81	)		$	163

Schedule of Deferred Tax Assets and Liabilities Components

The following table sets forth the components of the Company’s deferred tax assets and liabilities at December 31, 2024 and 2023.

		December 31,
		2024				2023
Deferred tax assets:
Environmental and other liabilities		$	188			$	196
Employee related and benefit items			48				41
Other assets and accrual liabilities			140				133
Intangible Assets			124				155
Tax attribute carryforwards			234				200
Operating lease liability			60				63
Total deferred tax assets			794				788
Less: Valuation allowance			(134	)			(165	)
Total deferred tax assets, net			660				623
Deferred tax liabilities:
Property, plant, and equipment and intangible assets			(279	)			(240	)
LIFO inventories			(14	)			(8	)
Operating lease asset			(63	)			(63	)
Other liabilities			(48	)			(53	)
Total deferred tax liabilities			(404	)			(364	)
Deferred tax assets, net		$	256			$	259

Schedule of Effective Income Tax Rate

The following table sets forth an analysis of the Company’s effective tax rates for the years ended December 31, 2024, 2023 and 2022.

		Year Ended December 31,
		2024								2023								2022
		$				%				$				%				$				%
Statutory U.S. federal income tax rate		$	27				21.0	%		$	(67	)			21.0	%		$	156				21.0	%
State income taxes, net of federal benefit			(10	)			(7.9	)%			(28	)			8.8	%			7				1.0	%
Lower effective tax rate on international operations, net			(6	)			(4.7	)%			55				(17.3	)%			(16	)			(2.2	)%
Basis difference in intangible assets, net			(1	)			(0.8	)%			(12	)			3.8	%			—				—	%
Tax exempt income			—				—	%			(24	)			7.5	%			—				—	%
Non - deductible expenses			13				10.3	%			11				(3.4	)%			1				0.1	%
Goodwill			12				9.5	%			—				—	%			—				—	%
Depletion			(4	)			(3.1	)%			(4	)			1.3	%			(6	)			(0.8	)%
Exchange gains			(6	)			(4.7	)%			(16	)			5.0	%			(8	)			(1.1	)%
Provision to return and other adjustments			16				12.7	%			(6	)			1.9	%			(2	)			(0.3	)%
Valuation allowance			—				—	%			15				(4.7	)%			4				0.5	%
Executive compensation limitation			1				0.8	%			9				(2.8	)%			3				0.5	%
Stock-based compensation			(1	)			(0.8	)%			(13	)			4.1	%			(9	)			(1.2	)%
R&D credit			(7	)			(5.5	)%			(8	)			2.5	%			(7	)			(0.9	)%
Uncertain tax positions			5				3.9	%			7				(2.2	)%			36				4.9	%
Other, net			2				1.6	%			—				—	%			4				0.5	%
Total effective tax rate		$	41				32.3	%		$	(81	)			25.5	%		$	163				22.0	%

Schedule of (Loss) Income before Income Taxes

The following table sets forth the Company’s income (loss) before income taxes for its U.S. and international operations for the years ended December 31, 2024, 2023 and 2022.

		Year Ended December 31,
		2024				2023				2022
U.S. operations (including exports)		$	(199	)		$	(638	)		$	217
International operations			326				320				524
Income (loss) before income taxes		$	127			$	(318	)		$	741

Schedule of open tax years by significant jurisdiction

The following table sets forth the Company’s significant jurisdictions’ tax returns that are subject to examination by their respective taxing authorities for the open years listed.

Jurisdiction		Open Years
China		2019 through 2024
India		2016 through 2024
Mexico		2019 through 2024
Netherlands		2023 through 2024
Singapore		2019 through 2024
Switzerland		2019 through 2024
Taiwan		2023 through 2024
U.S.		2017 through 2024

Schedule of Unrecognized Tax Benefits

The following table sets forth the change in the Company’s unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022.

		Year Ended December 31,
		2024				2023				2022
Balance at January 1,		$	73			$	65			$	5
Gross amounts of increases and decreases in unrecognized tax benefits as a result of adjustments to tax provisions taken during the prior period			—				2				54
Gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during the current period			9				6				6
Reduction to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations			—				—				—
Balance at December 31,		$	82			$	73			$	65
Total unrecognized tax benefits, if recognized, that would impact the effective tax rate		$	54			$	48			$	42
Total amount of interest and penalties recognized in the consolidated statements of operations			5				4				4
Total amount of interest and penalties recognized in the consolidated balance sheets			13				8				4

Summary of Deferred Tax Asset Valuation Allowance

The following table sets forth a rollforward of the Company’s deferred tax asset valuation allowance for the years ended December 31, 2024, 2023 and 2022.

		Year Ended December 31,
		2024				2023				2022
Balance at January 1,		$	165			$	12			$	8
Charges to income tax expense			1				153				4
Reduction of valuation allowance			(32	)			—				—
Balance at December 31,		$	134			$	165			$	12

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