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EQUITY METHOD INVESTMENT
3 Months Ended
Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY METHOD INVESTMENT EQUITY METHOD INVESTMENTIn 2013, the Company and Eastman Chemical Company (formerly Taminco Corporation) formed a joint venture (66.66% / 33.34% ownership), St. Gabriel CC Company, LLC, to design, develop, and construct an expansion of the Company’s St. Gabriel aqueous choline chloride plant. The Company contributed the St. Gabriel plant, at cost, and all continued expansion and improvements are funded by the owners. The joint venture became operational as of July 1, 2016. St. Gabriel CC Company, LLC is a Variable Interest Entity (VIE) because the total equity at risk is not sufficient to permit the joint venture to finance its own activities without additional subordinated financial support. Additionally, voting rights (2 votes each) are not proportionate to the owners’ obligation to absorb expected losses or receive the expected residual returns of the joint venture. The Company receives up to 2/3 of the production offtake capacity and absorbs operating expenses approximately proportional to the actual percentage of offtake. The joint venture is accounted for under the equity method of accounting since the Company is not the primary beneficiary as the Company does not have the power to direct the activities of the joint venture that most significantly impact its economic performance. The Company recognized a loss of $139 and $140 for the three months ended March 31, 2023 and 2022, respectively, relating to its portion of the joint venture's expenses in other expense. During the first quarter of 2023 and 2022, the Company made capital contributions to the investment totaling $56 and $58, respectively. The carrying value of the joint venture at March 31, 2023 and December 31, 2022 was $4,212 and $4,295, respectively, and is recorded in "Other assets".