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Subsequent Events | 12 Months Ended
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Dec. 31, 2019
Subsequent Events [Abstract] |
Subsequent Events | 27. Subsequent Events On January 19, 2020, the Company experienced a power disruption that impacted its Millsdale, Illinois facility. This power outage combined with below freezing temperatures led to significant production and operational challenges. During the period that followed the Millsdale facility operated on a partial basis and used existing inventories to serve its customers. On February 17, 2020, operational issues impacted the Millsdale site’s waste water treatment plant (WWTP) and forced the Company to stop production at the site. The Company has subsequently restarted polyol production using a temporary solution. The Company announced on February 26, 2020, that the waste water treatment plant at the Millsdale facility was back in operation and that the facility was producing Surfactant products. The Company is working to resume phthalic anhydride production. As a result of the WWTP plant being down and low inventory levels the Company declared Force Majeure for the supply of phthalic anhydride and certain surfactant product lines. The Company is using its global production network and working with customers to minimize the impact of this supply disruption. At this time, the Company is not able to quantify the extent of the impact from this event on the Company’s statement of financial position, results of operations or cash flows. The Company is working with its insurance provider to recover the losses related to this incident.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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