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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) From Continuing Operations Before Income Taxes

(Loss) income before income taxes is comprised of the following:

			Year Ended December 31,
			2025						2024						2023
United Kingdom			$	(46)					$	(35)					$	(47)
International			(412)						108						96
(Loss) Income before income taxes			$	(458)					$	73					$	49

Schedule of Income Tax (Provision) Benefit

The income tax provision is summarized below:

			Year Ended December 31,
			2025						2024						2023
United Kingdom:
Current			$	—					$	—					$	1
Deferred			—						—						—
International:
Current			(3)						(17)						(34)
Deferred			(12)						(110)						(330)
Income tax provision			$	(15)					$	(127)					$	(363)

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the applicable statutory income tax rates to our effective income tax rates for “Income tax provision” as reflected in the Consolidated Statements of Operations.

			Year Ended December 31,
			2025												2024												2023
			$						%						$						%						$						%
Statutory tax rate - United Kingdom			$	114					25		%				$	(18)					25		%				$	(12)					24		%
Foreign tax effects
Australia
Nondeductible debt costs			(38)						(8)		%				(14)						19		%				(12)						24		%
Prior period accrual - nondeductible debt costs			(20)						(5)		%				—						—		%				(1)						2		%
Tax rates different than statutory			11						2		%				9						(13)		%				12						(24)		%
Other adjustments			—						—		%				—						—		%				2						(4)		%
Changes in valuation allowances			(5)						(1)		%				(38)						52		%				(341)						697		%
Brazil
Other adjustments			1						—		%				2						(3)		%				—						—		%
Changes in valuation allowances			(4)						(1)		%				(20)						28		%				—						—		%
Canada
Gain on sale of royalty interest			—						—		%				(7)						10		%				—						—		%
China
Changes in valuation allowances			(18)						(4)		%				(1)						1		%				(1)						2		%
The Netherlands
Other adjustments			1						—		%				—						—		%				1						(2)		%
Changes in valuation allowances			(41)						(9)		%				(34)						46		%				—						—		%
South Africa
Tax rates different than statutory			—						—		%				(3)						4		%				(5)						10		%
Other adjustments			(2)						—		%				—						—		%				1						(2)		%
Switzerland
Expiration of carryover losses			—						—		%				—						—		%				(6)						12		%
Changes in valuation allowances			—						—		%				—						—		%				6						(12)		%
Other adjustments			—						—		%				—												1						(2)		%
United States
Transfer pricing adjustment			—						—		%				—						—		%				(4)						8		%
State and local taxes			(2)						—		%				(3)						4		%				(8)						16		%
Tax rates different than statutory			—						—		%				6						(8)		%				4						(8)		%
Other adjustments			(2)						—		%				—						—		%				1						(2)		%
Changes in valuation allowances			2						—		%				2						(3)		%				9						(18)		%
Other foreign jurisdictions			(1)						—		%				1						(1)		%				—						—		%
Effect of changes in tax laws or rates			—						—		%				—						—		%				2						(4)		%
Effect of cross-border tax laws			—						—		%				—						—		%				—						—		%
Tax credits			—						—		%				—						—		%				—						—		%
Changes in valuation allowances			(9)						(2)		%				(3)						4		%				(9)						18		%
Nontaxable or nondeductible items			—						—		%				(2)						3		%				—						—		%
Prior period accruals			(2)						—		%				(5)						7		%				(3)						6		%
Other adjustments			—						—		%				1						(1)		%				—						—		%
Effective tax rate			$	(15)					(3)		%				$	(127)					174		%				$	(363)					741		%

Schedule of Net Deferred Tax Assets (Liabilities)

Net deferred tax assets (liabilities) at December 31, 2025 and 2024 were comprised of the following:

			December 31,
			2025						2024
Deferred tax assets:
Net operating loss and other carryforwards			$	1,940					$	1,812
Property, plant and equipment, net			146						167
Reserves for environmental remediation and restoration			61						52
Obligations for pension and other employee benefits			46						42
Investments			—						—
Grantor trusts			604						603
Inventories, net			12						14
Interest			138						161
Lease liabilities			51						45
Other accrued liabilities			4						4
Intangible assets			10						5
Other			3						6
Total deferred tax assets			3,015						2,911
Valuation allowance associated with deferred tax assets			(2,040)						(1,951)
Net deferred tax assets			975						960
Deferred tax liabilities:
Inventories, net			(7)						(7)
Property, plant and equipment, net			(291)						(250)
Intangible assets, net			—						—
Lease assets			(50)						(44)
Foreign exchange			(2)						(1)
Interest			—						—
Other			—						(2)
Total deferred tax liabilities			(350)						(304)
Net deferred tax asset			$	625					$	656
Balance sheet classifications:
Deferred tax assets — long-term			$	833					$	830
Deferred tax liabilities — long-term			$	(208)					$	(174)
Net deferred tax asset			$	625					$	656

Schedule of Changes in Valuation Allowance by Jurisdiction

The table below sets forth the changes, by jurisdiction:

			December 31,
			2025						2024
United Kingdom			$	11					$	5
United States			1						(1)
Australia			9						39
The Netherlands			47						32
Brazil			3						15
China			18						1
Total increase in valuation allowances			$	89					$	91

Schedule of Expiration of Tax Loss Carryforwards

In the United States, the deferred tax assets generated by tax loss carryforwards are partially offset by a valuation allowance to the extent they are subject to expiration. The expiration of tax loss carryforwards at December 31, 2025 are shown below. The tax loss carryforwards in Australia, Brazil, France, Saudi Arabia, South Africa, the Netherlands and the United Kingdom do not expire.

			2026						2027						2028						2029						2030						2031 - 2045						Unlimited						Total Tax Loss Carryforwards
United Kingdom			$	—					$	—					$	—					$	—					$	—					$	—					$	(171)					$	(171)
Australia			—						—						—						—						—						—						(775)						(775)
The Netherlands			—						—						—						—						—						—						(285)						(285)
France			—						—						—						—						—						—						(191)						(191)
South Africa			—						—						—						—						—						—						(31)						(31)
China			—						(3)						(7)						—						(13)						—						—						(23)
Brazil			—						—						—						—						—						—						(39)						(39)
Saudi Arabia			—						—						—						—						—						—						(1)						(1)
U.S. Federal			—						—						—						—						—						(3,899)						(418)						(4,317)
U.S. State			(55)						(2)						(3)						(1)						(175)						(3,958)						(55)						(4,249)
Total tax loss carryforwards			$	(55)					$	(5)					$	(10)					$	(1)					$	(188)					$	(7,857)					$	(1,966)					$	(10,082)

Schedule of Income Tax Jurisdiction

The net amount of taxes paid and refunded is presented in the Consolidated Statement of Cash Flows. Detail for the income taxes paid by the Company by jurisdiction are as follows:

			Year Ended December 31,
			2025						2024						2023
Canada			$	—					$	(7)					$	—
France			—						—						(3)
The Netherlands			—						—						(4)
Saudi Arabia			—						2						(12)
South Africa			(4)						(4)						(34)
United Kingdom			1						—						—
Other jurisdictions			(1)						(1)						(1)
Incomes taxes paid			$	(4)					$	(10)					$	(54)

Additional supplemental cash flow information for the year ended and as of December 31, 2025, 2024 and 2023 is as follows:

			Year Ended December 31,
Supplemental non cash information:			2025						2024						2023
Operating activities - Chloride slag inventory purchases made from AMIC (including VAT)			$	11					$	67					$	51
Operating activities - MGT sales made to AMIC			$	6					$	6					$	6
Operating activities - Interest expense on MGT loan			$	1					$	1					$	2
Operating activities - Withholding tax on sale of royalty interest1			$	—					$	7					$	—
Investing activities - In-kind receipt of AMIC loan repayment			$	11					$	67					$	51
Investing activities - Proceeds from sale of royalty interest1			$	—					$	7					$	—
Financing activities - Repayment of MGT loan			$	6					$	6					$	6
Financing activities - Initial commercial insurance premium financing agreement			$	21					$	18					$	18
			December 31,
			2025						2024						2023
Capital expenditures acquired but not yet paid			$	44					$	91					$	67

1 - During the year ended December 31, 2024, the Company sold a royalty interest in certain Canadian mineral properties for proceeds of $28 million (net of associated transaction costs) which was recorded in "Other (expense) income, net" on the consolidated statement of operations. Of the total proceeds, $7 million were withheld for tax purposes and never collected by the Company.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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