- SEC Filing

Houston Refinery Operations—We estimate that the total amount of costs we will incur for the planned exit from the refinery business will range from $610 million to $980 million, varying largely due to our estimate of asset retirement obligations.

Costs incurred for the planned exit from the refinery business are as follows:

In subsequent periods, we expect to incur additional costs primarily consisting of accelerated amortization of operating lease assets of $10 million to $30 million, personnel costs of $10 million to $40 million and other charges of $20 million to $40 million.

In connection with the planned exit from the refinery business, we recorded liabilities for asset retirement obligations of $264 million as of September 30, 2024. We estimate that the Houston refinery's asset retirement obligations are in the range of $160 million to $450 million.

Segment Structure Changes and Related Goodwill Impairment—Effective January 1, 2023, our Catalloy and polybutene-1 businesses were moved from our APS segment and reintegrated into our O&P-Americas and O&P-EAI segments. As a result of the reallocation of goodwill and the change in both fair value and carrying value among reporting units, we recognized a non-cash goodwill impairment charge of $252 million in the first quarter of 2023 in our APS segment.

A reconciliation of EBITDA to Income from continuing operations before income taxes is shown in the following table for each of the periods presented: