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Investments
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investments Investments
Equity method investments
The total balance of the Company’s equity method investments recorded within Equity method investments in the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 was $168 million and $162 million, respectively.
The Company holds equity method investments in three joint ventures (“JV”), including a 49% interest in Asahi-Schwebel (Taiwan) Co., Ltd., a manufacturer of woven glass fabrics, a 49% interest in Quimobásicos, S.A. de C.V., a producer of refrigerant gases, and a 50% interest in SinoChem noted in the variable interest entities (“VIE”) investment section below. The Company records these balances within Equity method investments in the Consolidated Balance Sheets. These investments are not considered significant for disclosure of summarized financial information on either an individual or aggregated basis.
Variable Interest Entities
SinoChem JV (unconsolidated)
The Company owns a 50% interest in a JV with Sinochem Lantian New Materials Co., Ltd. for foam blowing agents. The Company’s variable interest in this JV is primarily related to third-party borrowings of the JV which are guaranteed by the Company. The investment was $107 million and $103 million as of March 31, 2026 and December 31, 2025, respectively.
ConverDyn JV (consolidated)
The Company owns a 50% interest in ConverDyn, which provides uranium hexafluoride conversion and related services to utilities operating nuclear power plants. The Company is the primary beneficiary and consolidates the JV. The following table summarizes the assets and liabilities of the ConverDyn JV included in the Company’s Consolidated Financial Statements (including noncontrolling interests):
March 31, 2026December 31, 2025
Current assets$134 $179 
Product loans receivable311 300 
Noncurrent assets2 2 
Total assets
$446 $481 
Current liabilities1
108 182 
Product loans payable347 336 
Noncurrent liabilities31 33 
Total liabilities
$485 $551 
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1.Includes related party payables of $71 million and $69 million as of March 31, 2026 and December 31, 2025, respectively. See Note 3 - Related Party Transactions for additional information.