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Discontinued Operations | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On February 28, 2025, we completed the sale of the Alkali Business to an indirect affiliate of WE Soda Ltd for a gross purchase price of $1.425 billion. The sale generated proceeds of approximately $1.0 billion, which reflects the net proceeds after the payment of transaction costs and expenses, the assumption of $413.4 million of our then outstanding 5.875% senior secured notes due 2042 (the “Alkali senior secured notes”) by an indirect affiliate of WE Soda Ltd, and cash divested. A reconciliation of the line items constituting pretax income from discontinued operations to net income (loss) from discontinued operations, net of tax is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Major classes of line items constituting income (loss) from discontinued operations: |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 326,082 |  |  | $ | 200,532 |  |  | $ | 661,740 |
Operating costs | — |  |  | (290,447) |  |  | (168,871) |  |  | (587,413) |
General and administrative | — |  |  | (247) |  |  | (156) |  |  | (556) |
Depreciation, depletion and amortization | — |  |  | (26,446) |  |  | (18,862) |  |  | (50,826) |
Interest expense, net | — |  |  | (6,331) |  |  | (4,179) |  |  | (12,731) |
Pretax income from discontinued operations | — |  |  | 2,611 |  |  | 8,464 |  |  | 10,214 |
Loss from the sale of the Alkali Business | — |  |  | — |  |  | (432,193) |  |  | — |
Total pretax income (loss) from discontinued operations | — |  |  | 2,611 |  |  | (423,729) |  |  | 10,214 |
Income tax expense | — |  |  | (33) |  |  | (16) |  |  | (33) |
Net income (loss) from discontinued operations, net of tax | $ | — |  |  | $ | 2,578 |  |  | $ | (423,745) |  |  | $ | 10,181 |
A summary of our cash flows associated with our discontinued operations is as follows:
|  |  | Six Months Ended June 30,
|  |  |  |  | 2025 |  | 2024
Net cash flows provided by operating activities |  |  |  |  | $ | 31,453 |  |  | $ | 136,985 |
Net cash flows used in investing activities |  |  |  |  | (11,666) |  |  | (124,911) |
Net cash flows used in financing activities |  |  |  |  | — |  |  | (5,815) |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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