LyondellBasell Industries NV

8. Equity Investments

Our principal equity investments are as follows at December 31:

The following table summarizes changes in our equity investments:

Capital contributions in 2024 and 2023 include $84 million and $32 million, respectively, related to our PO Joint Ventures.

Acquisition of Joint Venture—In May 2024, we acquired a 35% interest in Saudi Arabia-based National Petrochemical Industrial Company (“NATPET”) from Alujain Corporation for approximately $500 million. The joint venture currently has the capacity to produce 400 thousand tons of polypropylene per year. We will market the majority of the off-take through our global sales team. The joint venture is included in our O&P-EAI segment and accounted for using the equity method of accounting.

Impairments—During the fourth quarter of 2023, we recognized a non-cash impairment charge of $192 million related to our European PO joint venture due to a trend of negative financial performance and the unfavorable long-term economic outlook for the joint venture. The fair value of our investment was determined using an income approach and the significant inputs used in our fair value determination, including projected cash flows and the discount rate, are considered Level 3. This charge is reflected as Impairments in the Consolidated Statements of Income.

Summarized balance sheet information of our investments accounted for under the equity method (presented on a 100% basis) at December 31 are as follows:

Summarized income statement information of our investments accounted for under the equity method (presented on a 100% basis) are as follows: