Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Note 8 – Commitments and Contingent Liabilities

Outstanding standby and commercial letters of credit as of September 30, 2022, equaled $18,664, of which approximately one-half serves as collateral for the IRB debt. Outstanding surety bonds as of September 30, 2022, approximated $3,000 (SEK 33,900), which guarantee certain obligations under a credit insurance arrangement for certain of the Corporation’s foreign pension commitments.

The Corporation has undertaken a $27,000 capital program to upgrade existing equipment at certain of its FCEP locations. The capital program is anticipated to be completed by December 31, 2023. At September 30, 2022, commitments for future capital expenditures, including those associated with the FCEP capital program, approximated $19,300.

See Note 11 for derivative instruments, Note 15 for litigation and Note 16 for environmental matters.