LyondellBasell Industries NV
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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Assets Held for Sale
- Assets Held for Sale
During the fourth quarter of 2023, we entered into an agreement to sell our U.S. Gulf Coast-based ethylene oxide and derivatives (“EO&D”) business along with the production facility located in Bayport, TX for cash consideration of $700 million, subject to working capital and other adjustments. The EO&D business had been identified as a non-core business within our Intermediates and Derivatives segment. The transaction is expected to close in the second quarter of 2024 following completion of the planned maintenance at the facility and is subject to regulatory and other customary closing conditions.
The following table summarizes the assets and liabilities held for sale:
| Millions of dollars | December 31, 2023 |
|---|---|
| ASSETS | |
| Accounts receivable - Trade, net | $42 |
| Inventories | 100 |
| Prepaid expenses and other current assets | 43 |
| Operating lease assets | 20 |
| Property, plant and equipment, net | 225 |
| Goodwill | 14 |
| Total assets held for sale | $444 |
| LIABILITIES | |
| Short-term debt | $43 |
| Accounts payable - Trade | 51 |
| Accrued and other current liabilities | 7 |
| Operating lease liabilities | 19 |
| Total liabilities held for sale | $120 |
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