NewMarket (NEU) 10-K 15 Feb 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Jan. 31, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	1-32190
Entity Registrant Name	NEWMARKET CORPORATION
Entity Central Index Key	0001282637
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	20-0812170
Entity Address, Address Line One	330 South Fourth Street
Entity Address, City or Town	Richmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23219-4350
City Area Code	804
Local Phone Number	788-5000
Title of 12(b) Security	Common Stock, with no par value
Trading Symbol	NEU
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 2,667,996,633
Entity Common Stock, Shares Outstanding		9,590,048
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE Portions of NewMarket Corporation’s definitive Proxy Statement for its 2024 Annual Meeting of Shareholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A under the Securities Exchange Act of 1934 are incorporated by reference into Part III of this Annual Report on Form 10-K.

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Richmond, Virginia
Auditor Firm ID	238

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 2,698,419	$ 2,764,799	$ 2,356,110
Cost of goods sold	1,925,906	2,124,302	1,808,403
Gross profit	772,513	640,497	547,707
Selling, general, and administrative expenses	151,470	145,106	145,973
Research, development, and testing expenses	137,998	140,252	143,952
Operating profit	483,045	355,139	257,782
Interest and financing expenses, net	37,359	35,202	34,218
Loss on early extinguishment of debt	0	7,545	0
Other income (expense), net	43,276	35,342	23,987
Income before income tax expense	488,962	347,734	247,551
Income tax expense	100,098	68,196	56,643
Net income	$ 388,864	$ 279,538	$ 190,908
Earnings Per Share, Diluted	$ 40.44	$ 27.77	$ 17.71
Earnings Per Share, Basic	$ 40.44	$ 27.77	$ 17.71

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 388,864	$ 279,538	$ 190,908
Pension plans and other postretirement benefits:
Prior service credit (cost) arising during the period, net of income tax expense (benefit) of $(212) in 2023, $(21) in 2022 and $8 in 2021	(436)	(65)	27
Amortization of prior service cost (credit) included in net periodic benefit cost (income), net of income tax expense (benefit) of $(642) in 2023, $(627) in 2022 and $(628) in 2021	(2,062)	(1,993)	(1,977)
Actuarial net gain (loss) arising during the period, net of income tax expense (benefit) of $9,879 in 2023, $17,552 in 2022 and $29,035 in 2021	29,343	53,084	89,167
Amortization of actuarial net (gain) loss included in net periodic benefit cost (income), net of income tax expense (benefit) of $(456) in 2023, $655 in 2022 and $2,263 in 2021	(1,441)	2,014	7,076
Total pension plans and other postretirement benefits	25,404	53,040	94,293
Foreign currency translation adjustments, net of income tax expense (benefit) of $703 in 2023, $468 in 2022 and $(380) in 2021	25,520	(42,808)	(3,356)
Other comprehensive income (loss)	50,924	10,232	90,937
Comprehensive income	$ 439,788	$ 289,770	$ 281,845

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Prior service credit (cost) arising during the period, income tax expense (benefit)	$ (212)	$ (21)	$ 8
Amortization of prior service cost (credit) included in net periodic benefit cost (income), income tax expense (benefit)	(642)	(627)	(628)
Actuarial net gain (loss) arising during the period, income tax expense (benefit)	9,879	17,552	29,035
Amortization of actuarial net (gain) loss included in net periodic benefit cost (income), income tax expense (benefit)	(456)	655	2,263
Foreign currency translation adjustments, income tax expense (benefit)	$ 703	$ 468	$ (380)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 111,936	$ 68,712
Trade and other accounts receivable, net	432,349	453,692
Inventories	456,234	631,383
Prepaid expenses and other current assets	39,051	38,338
Total current assets	1,039,570	1,192,125
Property, plant, and equipment, net	654,747	659,998
Intangibles (net of amortization) and goodwill	124,642	126,069
Prepaid pension cost	370,882	302,584
Operating lease right-of-use assets	70,823	62,417
Deferred charges and other assets	48,207	63,625
Total assets	2,308,871	2,406,818
Current liabilities:
Accounts payable	231,137	273,289
Accrued expenses	76,546	89,508
Dividends payable	19,212	17,850
Income taxes payable	6,131	16,109
Operating lease liabilities	15,074	15,569
Other current liabilities	16,064	11,562
Total current liabilities	364,164	423,887
Long-Term Debt, Excluding Current Maturities	643,622	1,003,737
Operating lease liabilities - noncurrent	55,058	46,968
Other noncurrent liabilities	168,966	169,819
Total liabilities	1,231,810	1,644,411
Commitments and contingencies (Note 20)
Shareholders’ equity:
Common stock and paid-in capital (with no par value; authorized shares - 80,000,000; issued and outstanding - 9,590,086 at December 31, 2023 and 9,702,147 at December 31, 2022)	2,130	0
Accumulated other comprehensive loss	(21,071)	(71,995)
Retained earnings	1,096,002	834,402
Total shareholders' equity	1,077,061	762,407
Total liabilities and shareholders' equity	$ 2,308,871	$ 2,406,818

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	80,000,000	80,000,000
Common Stock, Shares, Issued	9,590,086	9,702,147
Common Stock, Shares, Outstanding	9,590,086	9,702,147

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock and Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]
Balance (in shares) at Dec. 31, 2020		10,921,377
Balance at Dec. 31, 2020	$ 759,824	$ 717	$ (173,164)	$ 932,271
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	190,908			190,908
Other comprehensive income (loss)	90,937		90,937
Cash dividends	(85,910)			(85,910)
Repurchases of common stock (in shares)		(566,671)
Repurchases of common stock	(196,220)	$ (3,305)		(192,915)
Restricted Stock Award, Forfeitures, Dividends				2
Stock-based compensation (in shares)		8,016
Stock-based compensation	2,590	$ 2,588
Balance (in shares) at Dec. 31, 2021		10,362,722
Balance at Dec. 31, 2021	762,129	$ 0	(82,227)	844,356
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	279,538			279,538
Other comprehensive income (loss)	10,232		10,232
Cash dividends	(84,263)			(84,263)
Repurchases of common stock (in shares)		(668,553)
Repurchases of common stock	(207,470)	$ (2,205)		(205,265)
Restricted Stock Award, Forfeitures, Dividends				36
Stock-based compensation (in shares)		7,978
Stock-based compensation	$ 2,241	$ 2,205
Balance (in shares) at Dec. 31, 2022	9,702,147	9,702,147
Balance at Dec. 31, 2022	$ 762,407	$ 0	(71,995)	834,402
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	388,864			388,864
Other comprehensive income (loss)	50,924		50,924
Cash dividends	(85,034)			(85,034)
Repurchases of common stock (in shares)		(119,075)
Repurchases of common stock	(43,276)	$ (1,857)		(41,419)
Tax withholdings related to stock-based compensation (in shares)		(2,493)
Tax withholdings related to stock-based compensation	(836)	$ (33)		(803)
Restricted Stock Award, Forfeitures				(8)
Stock-based compensation (in shares)		9,507
Stock-based compensation	$ 4,012	$ 4,020
Balance (in shares) at Dec. 31, 2023	9,590,086	9,590,086
Balance at Dec. 31, 2023	$ 1,077,061	$ 2,130	$ (21,071)	$ 1,096,002

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 8.85	$ 8.40	$ 8

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 68,712	$ 83,304	$ 125,172
Cash flows from operating activities:
Net income	388,864	279,538	190,908
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	78,010	82,285	84,320
Deferred income tax (benefit) expense	(14,750)	(42,645)	1,978
Loss on early extinguishment of debt	0	7,545	0
Change in assets and liabilities:
Trade and other accounts receivable, net	31,594	(73,089)	(53,990)
Inventories	192,470	(166,558)	(96,199)
Prepaid expenses and other current assets	744	2,159	(2,691)
Accounts payable and accrued expenses	(59,176)	35,532	60,407
Operating lease liabilities	(20,005)	(18,275)	(18,204)
Other current liabilities	(1,855)	4,009	(6,240)
Income taxes payable	(9,492)	11,586	562
Loss on marketable securities	0	2,977	7,440
Cash pension and postretirement contributions	(10,219)	(9,748)	(10,342)
Other, net	638	(6,696)	7,387
Cash provided from (used in) operating activities	576,823	108,620	165,336
Cash flows from investing activities:
Capital expenditures	(48,293)	(56,169)	(78,934)
Purchases of marketable securities	0	(787)	(393,434)
Proceeds from sales and maturities of marketable securities	0	372,846	10,957
Cash provided from (used in) investing activities	(48,293)	315,890	(461,411)
Cash flows from financing activities:
Net (repayments) borrowings under revolving credit facility	(361,000)	213,000	148,000
Dividends paid	(85,034)	(84,263)	(85,910)
Repurchases of common stock	(42,864)	(207,470)	(196,220)
Redemption of 4.10% senior notes	0	(350,000)	0
Cash costs of 4.10% senior notes redemption	0	(7,099)	0
Issuance of 2.70% senior notes	0	0	395,052
Debt issuance costs	0	0	(3,897)
Other, net	1,304	(3,525)	(1,892)
Cash provided from (used in) financing activities	(487,594)	(439,357)	255,133
Effect of foreign exchange on cash and cash equivalents	2,288	255	(926)
Increase (decrease) in cash and cash equivalents	43,224	(14,592)	(41,868)
Cash and cash equivalents at end of year	$ 111,936	$ 68,712	$ 83,304

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Parenthetical)	Dec. 31, 2023	Dec. 31, 2022	Mar. 15, 2022
4.10% Senior Notes [Member]
Senior notes, interest rate			4.10%
2.7% Senior Notes [Member]
Senior notes, interest rate	2.70%	2.70%

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Consolidation - Our consolidated financial statements include the accounts of NewMarket Corporation and its subsidiaries. All intercompany transactions are eliminated upon consolidation. References to "we," "us," "our," the "company," and "NewMarket" are to NewMarket Corporation and its consolidated subsidiaries, unless the context indicates otherwise. NewMarket is the parent company of separate operating companies, each managing its own assets and liabilities. Those companies are Afton, which focuses on petroleum additive products; Ethyl, representing certain contracted manufacturing and related services, as well as the antiknock compounds business; and NewMarket Development, which manages the real property and improvements that we own in Virginia. NewMarket is also the parent company of NewMarket Services, which provides various administrative services to NewMarket, Afton, Ethyl, and NewMarket Development. Foreign Currency Translation - We translate the balance sheets of our foreign subsidiaries into U.S. Dollars based on the current exchange rate at the end of each period. We translate the statements of income using the weighted-average exchange rates for the period. NewMarket includes translation adjustments in the Consolidated Balance Sheets as part of accumulated other comprehensive loss and transaction adjustments in the Consolidated Statements of Income as part of cost of goods sold. Foreign currency transaction adjustments resulted in a net loss of $4 million in both 2023 and 2022 and $6 million in 2021. Revenue Recognition - We recognize revenue when control of the product is transferred to our customer and for an amount that reflects the consideration we expect to collect from the customer. Net sales (revenues) are reported at the gross amount billed, including amounts related to shipping that are charged to the customer. Provisions for rebates to customers are recorded in the same period that the related sales are recorded. Freight costs incurred on the delivery of products are included in the Consolidated Statements of Income in cost of goods sold. Our standard terms of delivery are included in our contracts, sales order confirmation documents, and invoices. Taxes assessed by a governmental authority concurrent with sales to our customers, including sales, use, value-added, and revenue-related excise taxes, are not included as net sales, but are reflected in accrued expenses until remitted to the appropriate governmental authority. Cash and Cash Equivalents - Our cash equivalents consist of government obligations and commercial paper with original maturities of less than 90 days. Throughout the year, we have cash balances in excess of federally insured amounts on deposit with various financial institutions. We state cash and cash equivalents at cost, which approximates fair value. Marketable Securities - Our trading and equity securities are recorded at estimated fair value. Unrealized gains and losses on trading and equity securities are included in net income. Accounts Receivable - We record our accounts receivable at invoiced amounts adjusted for allowances for credit losses. The allowance for credit losses represents probable losses to be incurred if our customers do not make required payments. We determine the adequacy of the allowance by periodically evaluating each customer’s receivable balance, considering their financial condition and credit history, and considering current economic conditions. The allowance for credit losses was not material at December 31, 2023 or December 31, 2022. Inventories - NewMarket values its inventories at the lower of cost or net realizable value. In the United States, petroleum additives inventory cost is determined on the last-in, first-out (LIFO) basis. For all other inventory, we determine cost using a weighted-average method. Inventory cost includes raw materials, direct labor, and manufacturing overhead. Property, Plant, and Equipment - We state property, plant, and equipment at cost less accumulated depreciation and compute depreciation by the straight-line method based on the estimated useful lives of the assets. We capitalize expenditures for significant improvements that extend the useful life of the related property. We expense repairs and maintenance, including plant turnaround costs, as incurred. When property is sold or retired, we remove the cost and accumulated depreciation from the accounts and any related gain or loss is included in earnings. Intangibles (Net of Amortization) and Goodwill - Identifiable intangibles include acquired contracts, formulas and technology, trademarks and trade names, and customer bases. We assign a value to acquired identifiable intangibles based on independent third-party appraisals and management's assessment at the time of acquisition. NewMarket amortizes the cost of the customer bases by an accelerated method and the cost of the remaining identifiable intangibles by the straight-line method over the estimated economic life of the intangible. Goodwill arises from the excess of cost over the net assets of businesses acquired. Goodwill represents the residual purchase price after allocation to all identifiable net assets. We test goodwill for impairment each year, as well as whenever a significant event or circumstance occurs which could reduce the fair value of the reporting unit to which the goodwill applies below the carrying amount of the reporting unit. Impairment of Long-Lived Assets - When significant events or circumstances occur that might impair the value of long-lived assets, we evaluate recoverability of the recorded cost of these assets. Assets are considered to be impaired if their carrying amount is not recoverable from the estimated undiscounted future cash flows associated with the assets. If we determine an asset is impaired and its recorded cost is higher than estimated fair value based on the estimated present value of future cash flows, we adjust the asset to the estimated fair value. Environmental Costs - NewMarket capitalizes environmental compliance costs if they extend the useful life of the related property or prevent future contamination. Environmental compliance costs also include maintenance and operation of pollution prevention and control facilities. We expense these compliance costs in cost of goods sold as incurred. Accrued environmental remediation and monitoring costs relate to an existing condition caused by past operations. NewMarket accrues these costs in current operations within cost of goods sold in the Consolidated Statements of Income when it is probable that we have incurred a liability and the amount can be reasonably estimated. These estimates are based on an assessment of the site, available clean-up methods, and prior experience in handling remediation. When we can reliably determine the amount and timing of future cash flows, we discount these liabilities, incorporating an inflation factor. Legal Costs - We expense legal costs in the period incurred. Employee Savings Plan - Most of our full-time salaried and hourly employees may participate in defined contribution savings plans. Employees who are covered by collective bargaining agreements may also participate in a savings plan according to the terms of their bargaining agreements. Employees, as well as NewMarket, contribute to the plans. We made contributions of $7 million in each of 2023, 2022, and 2021 related to these plans. Research, Development, and Testing Expenses - NewMarket expenses all research, development, and testing costs as incurred. R&D costs include personnel-related costs, as well as internal and external testing of our products. Income Taxes - We recognize deferred income taxes for temporary differences between the financial reporting basis and the income tax basis of assets and liabilities. We also adjust for changes in tax rates and laws at the time the changes are enacted. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. We typically remove a tax impact from accumulated other comprehensive loss when the underlying circumstance which gave rise to the tax impact no longer exists. The calculation of income tax liabilities involves uncertainties in the application of complex tax laws and regulations, which are subject to legal interpretation and management judgment. Our income tax returns are regularly examined by federal, state and foreign tax authorities, and those audits may result in proposed adjustments. We have evaluated our tax positions under the more likely than not standard of the accounting literature, and a tax position is recognized if it meets this standard. Such judgments and estimates may change based on audit settlements, court cases, and interpretation of tax laws and regulations. We recognize accrued interest and penalties associated with uncertain tax positions as part of income tax expense on our Consolidated Statements of Income. Leases - We determine if an arrangement includes a lease at the inception of the agreement. The right-of-use asset and lease liability are determined at the lease commencement date and are based on the present value of estimated lease payments. Our lease agreements contain both fixed and variable lease payments. In some cases, variable lease payments are based on a rate or an index. Fixed lease payments, as well as variable lease payments which are based on a rate or index, are included in the determination of the right-of-use asset and lease liability at lease inception. Variable lease payments that are not based on a rate or index are expensed when incurred. The present value of estimated lease payments is determined utilizing the rate implicit in the lease agreement if that rate can be determined. If the implicit rate cannot be determined, the present value of estimated lease payments is determined utilizing our incremental borrowing rate. The incremental borrowing rate is determined at the lease commencement date and is developed utilizing a readily available market interest rate curve adjusted for our credit quality. Some of our leases include an option to renew that can extend the lease term. For those leases which are reasonably certain to be renewed, we include the renewal in the lease term. We do not recognize leases with terms of 12 months or less on the balance sheet for any lease class, except the railcar lease class. For the short-term leases not recorded on the balance sheet, the lease payments are recognized in the Consolidated Statements of Income on a straight-line basis over the lease term. We account for the lease and nonlease components as a single lease component in determining the right-of-use assets and lease liabilities for all lease classes. Derivative Financial Instruments and Hedging Activities - We are exposed to certain risks arising from both our business operations and economic conditions. We manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage certain economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding, as well as through the use of derivative financial instruments. We sometimes enter into interest rate swaps to manage our exposure to interest rate movements. In addition, our foreign operations expose us to fluctuations of foreign exchange rates. These fluctuations may impact our results of operations, financial position, and cash flows. To manage this exposure, we sometimes enter into foreign currency forward contracts to minimize currency exposure due to cash flows from foreign operations. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply, or we elect not to apply hedge accounting. We do not enter into derivative instruments for speculative purposes. We had no derivative financial instruments outstanding at December 31, 2023 or December 31, 2022. Stock-based Compensation - We calculate the fair value of restricted stock and restricted stock units based on the closing price of our common stock on the date of grant. If award recipients are entitled to receive dividends during the vesting period, we make no adjustment to the fair value of the award for dividends. If the award does not entitle recipients to dividends during the vesting period, we reduce the grant-date price of our common stock by the present value of the dividends expected to be paid on the underlying shares during the vesting period, discounted at the risk-free interest rate. We recognize stock-based compensation expense for the number of awards expected to vest on a straight-line basis over the requisite service period. Supplier Finance Programs - We offer our vendors a supplier finance program, which allows our vendors to receive payment from a third-party finance provider earlier than our normal payment terms would provide. NewMarket and its subsidiaries are not a party to the arrangement between our vendor and the finance provider, and there are no assets pledged as security or other forms of guarantees provided by NewMarket to the finance provider. For those vendors who opt to participate in the program, we pay the finance provider the full amount of the invoices on the normal due date. At December 31, 2023, the amount of confirmed invoices under the supplier finance program was not material. Estimates and Risks Due to Concentration of Business - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, our financial results can be influenced by certain risk factors. Some of our significant concentrations of risk include the following: • reliance on a small number of significant customers; • customers concentrated in the fuel and lubricant industries; and • production of several of our products solely at one facility.

Net Sales

Net Sales	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Net Sales Our revenues are primarily derived from the manufacture and sale of petroleum additives products. We sell petroleum additives products across the world including to customers located in our North America, Latin America, Asia Pacific, and EMEAI regions. Our customers primarily consist of global, national, and independent oil companies. While some of our customers have payment terms beyond 30 days, we do not provide extended payment terms of a year or more, nor do our contracts include a financing component. Our allowance for credit losses is immaterial, as are any bad debts we have incurred. In limited cases, we collect funds in advance of shipping product to our customers and recognizing the related revenue. These prepayments from customers are recorded as a contract liability until we recognize the revenue. Prepayments from our customers totaled $0.3 million at December 31, 2023 and $1 million at December 31, 2022. Revenue recognized from funds collected in advance from customers in an earlier period was $1 million in both 2023 and 2022, and $2 million in 2021. We recognize revenue when control of the product is transferred to our customer and for an amount that reflects the consideration we expect to collect from the customer. Control is generally transferred to the customer when title transfers (which may include physical possession by the customer), we have a right to payment from the customer, the customer has accepted the product, and the customer has assumed the risks and rewards of ownership. We have supplier managed inventory arrangements with some of our customers to facilitate on-demand product availability. In some cases, the inventory resides at a customer site, although title has not transferred, we are not entitled to payment, and we have not invoiced for the product. We have evaluated the contract terms under these arrangements and have determined that control transfers when the customer uses the product, at which time revenue is recognized. Our contracts generally include one performance obligation, which is providing petroleum additives products. The performance obligation is satisfied at a point in time when products are shipped, delivered, or consumed by the customer, depending on the underlying contracts. Taxes assessed by a governmental authority which are concurrent with sales to our customers, including sales, use, value-added, and revenue-related excise taxes, are collected by us from the customer and are not included in net sales, but are reflected in accrued expenses until remitted to the appropriate governmental authority. When we are responsible for shipping and handling costs after title has transferred, we account for those as fulfillment costs and include them in cost of goods sold. Some of our contracts include variable consideration in the form of rebates or business development funds. We record rebates at the point of sale as contra-revenue when we can reasonably estimate the amount of the rebate. The estimates are based on our best judgment at the time of sale, which includes anticipated as well as historical performance. Depending upon the specific terms of a business development fund, amounts are accrued as contra-revenue at the point of sale or are expensed when costs are incurred by us. We regularly review both rebates and business development funds and make adjustments when necessary, recognizing the full amount of any adjustment in the period identified. We recognized an increase to net sales of $5 million in 2023, $2 million in 2022, and $4 million in 2021 related to adjustments to rebates or business development funds which were recognized in revenue in a prior period. At December 31, 2023, accrued rebates were $18 million and accrued business development funds were $0.3 million. At December 31, 2022, accrued rebates were $28 million and accrued business development funds were $0.4 million. The following table provides information on our net sales by geographic area. Information on net sales by segment is in Note 4. Years Ended December 31, (in thousands) 2023 2022 2021 Net sales United States $ 972,954 $ 974,963 $ 780,278 China 186,181 181,283 255,219 Europe, Middle East, Africa, India 791,744 807,782 708,675 Asia Pacific, except China 396,790 435,684 325,621 Other foreign 350,750 365,087 286,317 Net sales $ 2,698,419 $ 2,764,799 $ 2,356,110

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	. Earnings Per Share We had 34,006 shares in 2023, 33,055 shares in 2022, and 26,572 shares in 2021 of nonvested restricted stock that were excluded from the calculation of diluted earnings per share, as their effect on earnings per share would be anti-dilutive. The nonvested restricted stock is considered a participating security since the restricted stock contains nonforfeitable rights to dividends. As such, we use the two-class method to compute basic and diluted earnings per share for all periods presented since this method yields the most dilutive result. The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share. Years Ended December 31, (in thousands, except per-share amounts) 2023 2022 2021 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 388,864 $ 279,538 $ 190,908 Earnings allocated to participating securities (1,339) (876) (462) Net income attributable to common shareholders after allocation of earnings to participating securities $ 387,525 $ 278,662 $ 190,446 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 9,583 10,035 10,756 Earnings per share - basic and diluted $ 40.44 $ 27.77 $ 17.71

Segment and Geographic Area Inf

Segment and Geographic Area Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment and Geographic Area Information	Segment and Geographic Area Information Segment Information - The tables below show our consolidated segment results. The “All other” category includes the operations of the antiknock compounds business, as well as certain contracted manufacturing and related services associated with Ethyl. The segment accounting policies are the same as those described in Note 1. We evaluate the performance of the petroleum additives business based on segment operating profit. NewMarket Services expenses are billed to Afton and Ethyl based on the services provided under the holding company structure. Depreciation on segment property, plant, and equipment, as well as amortization of segment intangible assets and lease right-of-use assets are included in segment operating profit. No transfers occurred between the petroleum additives segment and the “All other” category during the periods presented. The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the last three years. Years Ended December 31, (in thousands) 2023 2022 2021 Net sales Petroleum additives Lubricant additives $ 2,295,440 $ 2,342,622 $ 1,998,772 Fuel additives 394,269 411,688 345,170 Total 2,689,709 2,754,310 2,343,942 All other 8,710 10,489 12,168 Net sales (a) $ 2,698,419 $ 2,764,799 $ 2,356,110 Segment operating profit Petroleum additives $ 514,428 $ 378,244 $ 281,055 All other (4,986) (1,782) (1,525) Segment operating profit 509,442 376,462 279,530 Corporate, general, and administrative expenses (26,147) (21,579) (21,214) Interest and financing expenses, net (37,359) (35,202) (34,218) Loss on early extinguishment of debt 0 (7,545) 0 Other income (expense), net 43,026 35,598 23,453 Income before income tax expense $ 488,962 $ 347,734 $ 247,551 (a) No single customer accounted for 10% or more of our total net sales in 2023, 2022, or 2021. The following tables show asset information by segment and the reconciliation to consolidated assets. Segment assets consist of accounts receivable, inventory, and long-lived assets. Long-lived assets included in the petroleum additives segment amounts in the table below include property, plant, and equipment (net of depreciation), intangibles (net of amortization) and goodwill, and lease right-of-use assets. The additions to long-lived assets include property, plant, and equipment and lease right-of-use assets. December 31, (in thousands) 2023 2022 Segment assets Petroleum additives $ 1,728,397 $ 1,929,340 All other 10,098 18,738 1,738,495 1,948,078 Cash and cash equivalents 111,936 68,712 Non-segment other accounts receivable 3,083 2,220 Prepaid expenses and other current assets 39,051 38,338 Non-segment property, plant, and equipment, net 31,983 32,191 Prepaid pension cost 370,882 302,584 Non-segment lease right-of-use assets 5 26 Non-segment deferred charges and other assets 13,436 14,669 Total assets $ 2,308,871 $ 2,406,818 Years Ended December 31, (in thousands) 2023 2022 2021 Additions to long-lived assets Petroleum additives $ 72,038 $ 64,456 $ 134,873 All other 1 147 22 Corporate 2,018 3,983 686 Total additions to long-lived assets $ 74,057 $ 68,586 $ 135,581 Depreciation and amortization Petroleum additives $ 74,471 $ 78,744 $ 80,495 All other 45 51 51 Corporate 3,494 3,490 3,774 Total depreciation and amortization $ 78,010 $ 82,285 $ 84,320 Geographic Area Information - We have operations in the North America, Latin America, Asia Pacific, and EMEAI regions. Our foreign customers consist primarily of global, national, and independent oil companies. The tables below report net sales, total assets, and long-lived assets by geographic area, as well as by country for those countries with significant net sales or long-lived assets. Since our foreign operations are significant to our overall business, we are also presenting net sales in the table below by the major regions in which we operate. NewMarket assigns net sales to geographic areas based on the location to which the product was shipped to a third party. Long-lived assets in the table below include property, plant, and equipment, net of depreciation, and lease right-of-use assets. Years Ended December 31, (in thousands) 2023 2022 2021 Net sales United States $ 972,954 $ 974,963 $ 780,278 China 186,181 181,283 255,219 Europe, Middle East, Africa, India 791,744 807,782 708,675 Asia Pacific, except China 396,790 435,684 325,621 Other foreign 350,750 365,087 286,317 Net sales $ 2,698,419 $ 2,764,799 $ 2,356,110 December 31, (in thousands) 2023 2022 Total assets United States $ 1,016,449 $ 990,037 Foreign 1,292,422 1,416,781 Total assets $ 2,308,871 $ 2,406,818 Long-lived assets United States $ 376,421 $ 363,211 Singapore 234,484 247,218 Other foreign 149,436 148,879 Total long-lived assets $ 760,341 $ 759,308

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Years Ended December 31, (in thousands) 2023 2022 2021 Cash paid during the year for Interest and financing expenses (net of capitalization) $ 36,644 $ 40,531 $ 30,465 Income taxes 132,928 88,866 67,917 Supplemental disclosure of non-cash transactions Non-cash additions to property, plant, and equipment $ 1,788 $ 4,087 $ 4,872

Trade and Other Accounts Receiv

Trade and Other Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Trade and Other Accounts Receivable, Net	Trade and Other Accounts Receivable, Net December 31, (in thousands) 2023 2022 Trade receivables $ 368,240 $ 384,636 Income and other tax receivables 59,190 60,745 Other 4,919 8,311 $ 432,349 $ 453,692

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories December 31, (in thousands) 2023 2022 Finished goods and work-in-process $ 351,746 $ 497,652 Raw materials 82,441 113,484 Stores, supplies, and other 22,047 20,247 $ 456,234 $ 631,383 Our U.S. petroleum additives finished goods, work-in-process, and raw materials inventories, which are stated on the LIFO basis, amounted to $123 million at December 31, 2023 and were below replacement cost by approximately $94 million. At December 31, 2022, LIFO basis inventories were $165 million, which was approximately $114 million below replacement cost. Our foreign inventories amounted to $313 million at December 31, 2023 and $451 million at December 31, 2022. Reserves for obsolete and slow-moving inventory included in the table above were not material at December 31, 2023 or December 31, 2022.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets December 31, (in thousands) 2023 2022 Dividend funding $ 19,212 $ 17,850 Income taxes on intercompany profit 7,054 6,925 Other 12,785 13,563 $ 39,051 $ 38,338

Property, Plant, and Equipment,

Property, Plant, and Equipment, at Cost	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, at Cost	Property, Plant, and Equipment, at Cost December 31, (in thousands) 2023 2022 Land $ 37,225 $ 37,088 Land improvements 65,064 64,061 Leasehold improvements 1,842 1,832 Buildings 185,537 183,030 Machinery and equipment 1,328,808 1,279,425 Construction in progress 27,563 30,916 1,646,039 1,596,352 Less: accumulated depreciation and amortization 991,292 936,354 Net property, plant, and equipment $ 654,747 $ 659,998 We depreciate the cost of property, plant, and equipment by the straight-line method over the following estimated useful lives: Land improvements 3 - 40 years Buildings 5 - 46 years Machinery and equipment 1 - 30 years

Intangibles (Net of Amortizatio

Intangibles (Net of Amortization) and Goodwill	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles (Net of Amortization) and Goodwill	Intangibles (Net of Amortization) and Goodwill The net carrying amount of intangibles and goodwill was $125 million at December 31, 2023 and $126 million at December 31, 2022. The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. December 31, 2023 2022 (in thousands) Gross Accumulated Gross Accumulated Amortizing intangible assets Formulas and technology $ 6,200 $ 6,200 $ 6,200 $ 5,683 Contract 2,000 2,000 2,000 1,200 Customer base 5,440 4,539 5,440 4,350 Goodwill 123,741 123,662 $ 137,381 $ 12,739 $ 137,302 $ 11,233 Aggregate amortization expense $ 1,506 $ 1,423 Aggregate amortization expense was $2 million in 2021. All of the intangibles and goodwill relate to the petroleum additives segment. The change in the gross carrying amount between 2022 and 2023 was due to foreign currency fluctuations. There is no accumulated goodwill impairment. Estimated annual amortization expense related to our intangible assets for the next five years is expected to be (in thousands): 2024 $ 190 2025 190 2026 190 2027 190 2028 141 We amortize the customer base over 20 years.

Deferred Charges and Other Asse

Deferred Charges and Other Assets	12 Months Ended
	Dec. 31, 2023
Other Assets, Noncurrent [Abstract]
Other Assets Disclosure	Deferred Charges and Other Assets December 31, (in thousands) 2023 2022 Finance lease right-of-use assets $ 34,771 $ 36,893 Deferred income tax assets 2,726 3,575 Asbestos insurance receivables 2,883 2,994 Deferred financing costs, net of amortization 611 1,095 Deposit on future leased plant and equipment 0 12,063 Other 7,216 7,005 $ 48,207 $ 63,625

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Accrued Expenses December 31, (in thousands) 2023 2022 Employee benefits, payroll, and related taxes $ 35,800 $ 36,878 Customer rebates 18,132 27,752 Interest on long-term debt 8,026 8,710 Taxes other than income and payroll 4,907 3,715 Other 9,681 12,453 $ 76,546 $ 89,508

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt Disclosure	Long-term Debt December 31, (in thousands) 2023 2022 Senior notes - 2.70% due 2031 (net of related deferred financing costs) $ 393,622 $ 392,737 Senior notes - 3.78% due 2029 250,000 250,000 Revolving credit facility 0 361,000 643,622 1,003,737 2.70% Senior Notes - On March 18, 2021, we issued $400 million aggregate principal amount of 2.70% senior notes due 2031 at an issue price of 98.763%. The 2.70% senior notes are general unsecured senior obligations and rank equally with our other unsecured senior indebtedness. The offer and sale of the notes were registered under the Securities Act of 1933, as amended. We incurred financing costs in 2021 of approximately $4 million related to the 2.70% senior notes, which are being amortized over the term of the notes. The indenture governing the 2.70% senior notes includes certain customary covenants that, among other things and subject to certain qualifications and exceptions, limit our ability and the ability of our subsidiaries to: • grant liens to secure indebtedness; • engage in sale and lease back transactions; • merge or consolidate with, or convey, transfer or lease all or substantially all of our assets to a third party. We were in compliance with all covenants under the indenture governing the 2.70% senior notes as of December 31, 2023 and December 31, 2022. 3.78% Senior Notes - On January 4, 2017, we issued $250 million in senior unsecured notes in a private placement with The Prudential Insurance Company of America and certain other purchasers. These notes bear interest at 3.78% and mature on January 4, 2029. Interest is payable semiannually. Principal payments of $50 million are payable annually beginning on January 4, 2025. We have the right to make optional prepayments on the notes at any time, subject to certain limitations. The note purchase agreement contains representations, warranties, terms, and conditions customary for transactions of this type. These include negative covenants, certain financial covenants, and events of default which are substantially similar to the covenants and events of default in our revolving credit facility. We were in compliance with all covenants under the 3.78% senior notes as of December 31, 2023 and December 31, 2022. Revolving Credit Facility - On March 5, 2020, NewMarket and certain foreign subsidiary borrowers entered into a Credit Agreement (the Credit Agreement) with a term of five years. The Credit Agreement provided for a $900 million, multicurrency revolving credit facility with a $500 million sublimit for foreign currency borrowings, a $50 million sublimit for letters of credit, and a $20 million sublimit for swingline loans. The Credit Agreement included an expansion feature which allowed us, subject to certain conditions, to request an increase in the aggregate amount of the revolving credit facility or obtain incremental term loans in an amount up to $425 million. NewMarket's obligations under the Credit Agreement were unsecured and the obligations of foreign subsidiary borrowers were fully and unconditionally guaranteed by NewMarket. The revolving credit facility was scheduled to mature on March 5, 2025. Borrowings made under the revolving credit facility bore interest at a variable rate determined, at our option, at an annual rate equal to (i) the Alternate Base Rate (ABR), (ii) the Adjusted Term SOFR Rate (SOFR), or (iii) the Adjusted EURIBO Rate (EURIBO), each plus the Applicable Rate and all as defined in the Credit Agreement. The Applicable Rate was based, at our option, on our Leverage Ratio (as defined in the Credit Agreement) or credit rating. Prior to January 11, 2023, when we amended our revolving credit facility, LIBOR was utilized instead of SOFR as an option to establish interest rates on the revolving credit facility. We paid financing costs in 2020 of approximately $1.3 million related to this revolving credit facility and carried over deferred financing costs from our previous revolving credit facility of approximately $1.2 million, resulting in total deferred financing costs of $2.5 million, which we were amortizing over the term of the Credit Agreement. There were no outstanding borrowings under the revolving credit facility at December 31, 2023 compared to $361 million outstanding borrowings at December 31, 2022. Outstanding letters of credit amounted to $2 million at both December 31, 2023 and December 31, 2022, resulting in the unused portion of the credit facility amounting to $898 million at December 31, 2023 and $537 million at December 31, 2022. The average interest rate for borrowings under the credit facility was 6.2% during 2023 and 3.5% during 2022. The Credit Agreement contained certain customary covenants, including financial covenants that required NewMarket to maintain a consolidated Leverage Ratio (as defined in the Credit Agreement) of no more than 3.75 to 1.00 except during an Increased Leverage Period (as defined in the Credit Agreement). We were in compliance with all covenants under the revolving credit facility in effect at December 31, 2023 and at December 31, 2022. Credit Agreements Entered into in 2024 - On January 22, 2024, we entered into a new five two

Other Noncurrent Liabilities

Other Noncurrent Liabilities	12 Months Ended
	Dec. 31, 2023
Other Liabilities, Noncurrent [Abstract]
Other Noncurrent Liabilities	Other Noncurrent Liabilities December 31, (in thousands) 2023 2022 Deferred income tax liabilities $ 58,657 $ 61,993 Employee benefits 61,656 58,974 Finance lease liabilities 19,844 22,433 Environmental remediation 9,601 9,454 Asbestos litigation reserve 5,193 5,354 Deemed repatriation of earnings 2,956 2,956 Other 11,059 8,655 $ 168,966 $ 169,819

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-based Compensation	Stock-based Compensation The 2023 Incentive Compensation and Stock Plan (the Plan) was approved on April 27, 2023 and replaced the 2014 Incentive Compensation and Stock Plan (the Prior Plan). No new awards may be granted under the Prior Plan, but the terms of the Prior Plan continue to govern awards that were issued under the Prior Plan and remain outstanding. Awards outstanding under the Prior Plan will remain in effect until vested or forfeited under their terms. Any employee of our company or an affiliate or a person who is a member of our Board of Directors or the board of directors of an affiliate is eligible to participate in the Plan if the Compensation Committee of the Board of Directors (the Administrator), in its sole discretion, determines that such person has contributed or can be expected to contribute to the profits or growth of our company or its affiliates (each, a participant). Under the terms of the Plan, we may grant participants stock awards, incentive awards, stock units, or options (which may be either incentive stock options or nonqualified stock options), or stock appreciation rights (SARs), which may be granted with a related option. Stock options entitle the participant to purchase a specified number of shares of our common stock at a price that is fixed by the Administrator at the time the option is granted; provided, however, that the price cannot be less than the shares’ fair market value on the date of grant. The maximum period in which an option may be exercised is fixed by the Administrator at the time the option is granted but, in the case of an incentive stock option, cannot exceed 10 years. No participant may be granted or awarded, in any calendar year, shares, options, SARs, or stock units covering more than 10,000 shares of our common stock in the aggregate. For purposes of this limitation and the individual limitation on the grant of options, an option and corresponding SAR are treated as a single award. No participant may receive, in a single calendar year, an incentive award cash payment under the Plan exceeding $2,000,000. A non-employee director may not be granted an incentive award and may not be granted more than 1,000 shares of common stock in a calendar year. The maximum aggregate number of shares of our common stock that may be issued under the Plan is 250,000. At December 31, 2023, 248,885 shares were available for grant. During 2023, we granted 1,115 shares to five of our non-employee directors, which vested immediately. A summary of activity during 2023 related to NewMarket’s restricted stock and restricted stock units (stock awards) is presented below in whole shares: Number of Shares Weighted Average Grant-Date Fair Value Unvested stock awards at January 1, 2023 34,412 $ 390.02 Granted in 2023 10,115 341.93 Vested in 2023 (7,441) 416.24 Forfeited in 2023 (1,668) 394.62 Unvested stock awards at December 31, 2023 35,418 370.56 The weighted average grant-date fair value was $312.49 for stock awards granted in 2022 and $392.63 for stock awards granted in 2021. The fair value of shares vested was $3 million in 2023. No shares vested in 2022 and 2021. We recognized compensation expense of $4 million in 2023, and $2 million in both 2022 and 2021 related to stock awards. At December 31, 2023, total unrecognized compensation expense related to stock awards was $5 million, which is expected to be recognized over a period of 2.5 years.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases Our leases are for land, real estate, railcars, vehicles, pipelines, plant equipment, and office equipment. We have leases with remaining terms ranging from less than one year to 47 years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease cost were as follows: Years Ended December 31, (in thousands) 2023 2022 2021 Operating lease cost $ 19,242 $ 18,573 $ 18,343 Finance lease cost: Amortization of assets 2,547 2,771 2,795 Interest on lease liabilities 657 712 517 Short-term lease cost 2,463 6,246 6,607 Variable lease cost 5,539 8,152 6,364 Total lease cost $ 30,448 $ 36,454 $ 34,626 Variable lease costs also include leases that do not have a right-of-use asset or lease liability but are capitalized as part of inventory. Supplemental balance sheet information related to leases was as follows: December 31, (in thousands) Balance Sheet Classification 2023 2022 Operating leases Right-of-use assets Operating lease right-of-use assets $ 70,823 $ 62,417 Current liability Operating lease liabilities $ 15,074 $ 15,569 Noncurrent liability Operating lease liabilities-noncurrent 55,058 46,968 $ 70,132 $ 62,537 Finance leases Right-of-use assets Deferred charges and other assets $ 34,771 $ 36,893 Current liability Other current liabilities $ 2,754 $ 2,706 Noncurrent liability Other noncurrent liabilities 19,844 22,433 $ 22,598 $ 25,139 December 31, 2023 2022 2021 Weighted average remaining lease term (in years) Operating leases 12 12 12 Finance leases 14 15 16 Weighted average incremental borrowing rate Operating leases 4.07 % 3.21 % 3.02 % Finance leases 2.92 % 2.72 % 2.74 % Supplemental cash flow information related to leases was as follows: Years Ended December 31, (in thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 19,929 $ 18,632 $ 18,296 Operating cash flows from finance leases 656 712 517 Financing cash flows from finance leases 3,087 2,834 2,841 Right-of-use assets obtained in exchange for new lease obligations Operating leases $ 25,339 $ 12,333 $ 25,035 Finance leases 425 84 31,612 Maturities of lease liabilities at December 31, 2023 were as follows: (in thousands) Operating Leases Finance Leases 2024 $ 17,525 $ 3,366 2025 15,356 3,333 2026 11,273 3,304 2027 7,720 3,285 2028 5,653 3,270 Thereafter 33,591 8,635 Total lease payments 91,118 25,193 Less: imputed interest 20,986 2,595 Total lease obligations $ 70,132 $ 22,598
Leases	Leases Our leases are for land, real estate, railcars, vehicles, pipelines, plant equipment, and office equipment. We have leases with remaining terms ranging from less than one year to 47 years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease cost were as follows: Years Ended December 31, (in thousands) 2023 2022 2021 Operating lease cost $ 19,242 $ 18,573 $ 18,343 Finance lease cost: Amortization of assets 2,547 2,771 2,795 Interest on lease liabilities 657 712 517 Short-term lease cost 2,463 6,246 6,607 Variable lease cost 5,539 8,152 6,364 Total lease cost $ 30,448 $ 36,454 $ 34,626 Variable lease costs also include leases that do not have a right-of-use asset or lease liability but are capitalized as part of inventory. Supplemental balance sheet information related to leases was as follows: December 31, (in thousands) Balance Sheet Classification 2023 2022 Operating leases Right-of-use assets Operating lease right-of-use assets $ 70,823 $ 62,417 Current liability Operating lease liabilities $ 15,074 $ 15,569 Noncurrent liability Operating lease liabilities-noncurrent 55,058 46,968 $ 70,132 $ 62,537 Finance leases Right-of-use assets Deferred charges and other assets $ 34,771 $ 36,893 Current liability Other current liabilities $ 2,754 $ 2,706 Noncurrent liability Other noncurrent liabilities 19,844 22,433 $ 22,598 $ 25,139 December 31, 2023 2022 2021 Weighted average remaining lease term (in years) Operating leases 12 12 12 Finance leases 14 15 16 Weighted average incremental borrowing rate Operating leases 4.07 % 3.21 % 3.02 % Finance leases 2.92 % 2.72 % 2.74 % Supplemental cash flow information related to leases was as follows: Years Ended December 31, (in thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 19,929 $ 18,632 $ 18,296 Operating cash flows from finance leases 656 712 517 Financing cash flows from finance leases 3,087 2,834 2,841 Right-of-use assets obtained in exchange for new lease obligations Operating leases $ 25,339 $ 12,333 $ 25,035 Finance leases 425 84 31,612 Maturities of lease liabilities at December 31, 2023 were as follows: (in thousands) Operating Leases Finance Leases 2024 $ 17,525 $ 3,366 2025 15,356 3,333 2026 11,273 3,304 2027 7,720 3,285 2028 5,653 3,270 Thereafter 33,591 8,635 Total lease payments 91,118 25,193 Less: imputed interest 20,986 2,595 Total lease obligations $ 70,132 $ 22,598

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits NewMarket uses a December 31 measurement date for all of our plans. The service cost component of net periodic benefit cost (income) is included in cost of goods sold; selling, general, and administrative expenses; or research, development, and testing expenses, to reflect where other compensation costs arising from services rendered by the pertinent employee are recorded on the Consolidated Statements of Income. The remaining components of net periodic benefit cost (income) are recorded in other income (expense), net on the Consolidated Statements of Income. U.S. Retirement Plans NewMarket sponsors four pension plans for all full-time U.S. employees that offer a benefit based primarily on years of service and compensation. Employees do not contribute to these pension plans. The plans are as follows: • Salaried employees pension plan; • Afton pension plan for union employees (the Sauget plan); • NewMarket retirement income plan for union employees in Houston, Texas (the Houston plan); and • Afton Chemical Additives pension plan for union employees in Port Arthur, Texas (the Port Arthur plan). In addition, we offer an unfunded, nonqualified supplemental pension plan. This plan restores the pension benefits from our regular pension plans that would have been payable to designated participants if it were not for limitations imposed by U.S. federal income tax regulations. We also provide postretirement health care benefits and life insurance to eligible retired employees. The components of net periodic pension and postretirement benefit cost (income), as well as other amounts recognized in other comprehensive income (loss), are shown below. Years Ended December 31, Pension Benefits Postretirement Benefits (in thousands) 2023 2022 2021 2023 2022 2021 Net periodic benefit cost (income) Service cost $ 10,399 $ 18,935 $ 19,316 $ 520 $ 1,093 $ 1,079 Interest cost 18,212 13,478 13,018 1,582 1,163 1,158 Expected return on plan assets (46,039) (43,765) (38,675) (781) (790) (907) Amortization of prior service cost (credit) 186 271 271 (3,028) (3,028) (3,028) Amortization of actuarial net (gain) loss (1,598) 1,988 5,708 (275) 51 36 Net periodic benefit cost (income) (18,840) (9,093) (362) (1,982) (1,511) (1,662) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (34,997) (17,083) (79,688) 918 (12,445) (257) Prior service cost (credit) 648 86 (35) 0 0 0 Amortization of actuarial net gain (loss) 1,598 (1,988) (5,708) 275 (51) (36) Amortization of prior service (cost) credit (186) (271) (271) 3,028 3,028 3,028 Total recognized in other comprehensive income (loss) (32,937) (19,256) (85,702) 4,221 (9,468) 2,735 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (51,777) $ (28,349) $ (86,064) $ 2,239 $ (10,979) $ 1,073 Changes in the plans’ benefit obligations and assets follow. December 31, Pension Benefits Postretirement Benefits (in thousands) 2023 2022 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 330,372 $ 478,809 $ 28,914 $ 41,348 Service cost 10,399 18,935 520 1,093 Interest cost 18,212 13,478 1,582 1,163 Actuarial net (gain) loss 12,039 (166,409) 1,204 (12,064) Plan amendment 648 86 0 0 Benefits paid (15,757) (14,527) (2,388) (2,626) Benefit obligation at end of year 355,913 330,372 29,832 28,914 Change in plan assets Fair value of plan assets at beginning of year 545,540 663,193 20,734 20,972 Actual return on plan assets 93,075 (105,560) 1,067 1,171 Employer contributions 2,401 2,434 962 1,217 Benefits paid (15,757) (14,527) (2,388) (2,626) Fair value of plan assets at end of year 625,259 545,540 20,375 20,734 Funded status $ 269,346 $ 215,168 $ (9,457) $ (8,180) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 298,925 $ 244,210 $ 0 $ 0 Current liabilities (2,865) (2,834) (1,109) (1,086) Noncurrent liabilities (26,714) (26,208) (8,348) (7,094) $ 269,346 $ 215,168 $ (9,457) $ (8,180) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ (74,212) $ (40,813) $ (6,618) $ (7,811) Prior service cost (credit) 607 145 (10,533) (13,561) $ (73,605) $ (40,668) $ (17,151) $ (21,372) The accumulated benefit obligation for all domestic defined benefit pension plans was $320 million at December 31, 2023 and $296 million at December 31, 2022. The fair market value of plan assets exceeded both the accumulated benefit obligation and projected benefit obligation for all domestic plans, except the nonqualified plan, at December 31, 2023 and December 31, 2022. The net asset position for plans in which assets exceeded the projected benefit obligation is included in prepaid pension cost on the Consolidated Balance Sheets. The net liability position of plans in which the projected benefit obligation exceeded assets is included in other noncurrent liabilities on the Consolidated Balance Sheets. A portion of the accrued benefit cost for the nonqualified plan is included in current liabilities at both December 31, 2023 and December 31, 2022. As the nonqualified plan is unfunded, the amount reflected in current liabilities represents the expected benefit payments related to the nonqualified plan during the following year. The table below shows selected information on domestic defined benefit pension and postretirement plans. December 31, (in thousands) 2023 2022 Pension plans with the accumulated benefit obligation in excess of the fair market value of plan assets Accumulated benefit obligation $ 29,407 $ 28,838 Fair market value of plan assets 0 0 Pension plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation 29,579 29,042 Fair market value of plan assets 0 0 Postretirement benefit plans with the accumulated postretirement benefit obligation in excess of the fair market value of plan assets Accumulated postretirement benefit obligation 18,372 17,782 Fair market value of plan assets 0 0 There are no assets held by the trustee for the retired beneficiaries of the nonqualified plan. Payments to retired beneficiaries of the nonqualified plan are made with cash from operations. The postretirement healthcare benefits are also unfunded and paid with cash from operations. The benefits from the postretirement life insurance plan are funded through an insurance contract. Assumptions - We used the following assumptions to calculate the results of our retirement plans: Pension Benefits Postretirement Benefits 2023 2022 2021 2023 2022 2021 Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31, Discount rate 5.625 % 2.875 % 2.875 % 5.625 % 2.875 % 2.875 % Expected long-term rate of return on plan assets 8.00 % 8.00 % 8.00 % 4.00 % 4.00 % 4.50 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 5.375 % 5.625 % 2.875 % 5.375 % 5.625 % 2.875 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % For pension plans, we base the assumed expected long-term rate of return for plan assets on an analysis of our actual investments, including our asset allocation, as well as an analysis of expected returns. This analysis reflects the expected long-term rates of return for each significant asset class and economic indicator. The range of returns relies both on forecasts and on broad-market historical benchmarks for expected return, correlation, and volatility for each asset class. Our asset allocation is predominantly weighted towards equities. Through ongoing monitoring of our investments and review of market data, we have determined that we should maintain the expected long-term rate of return for our U.S. plans at 8.0% for the year beginning January 1, 2024. For the postretirement plan, we based the assumed expected long-term rate of return for plan assets on an evaluation of projected interest rates, as well as the guaranteed interest rate for our insurance contract. As a result of that evaluation, we have maintained the expected long-term rate of return at 4.0% for the year beginning January 1, 2024. Plan Assets - Pension plan assets are held and distributed by trusts and consist principally of equity securities and investment-grade fixed income securities. We invest directly in equity securities, as well as in funds which primarily hold equity and debt securities. Our target allocation is 90% to 97% in equities, 3% to 10% in debt securities and 1% to 5% in cash. The pension obligation is long-term in nature and the investment philosophy followed by the Pension Investment Committee is likewise long-term in its approach. The majority of the pension funds are invested in equity securities as, historically, equity securities have outperformed debt securities and cash investments, resulting in a higher investment return over the long-term. While in the short-term, equity securities may underperform other investment classes, we are less concerned with short-term results and more concerned with long-term improvement. The pension funds are managed by several different investment companies who predominantly invest in U.S. and international equities. Each investment company’s performance is reviewed quarterly. A small portion of the funds is in investments such as cash and cash equivalents or short-term bonds, which historically has been less vulnerable to short-term market swings. These funds are used to provide the cash needed to meet our monthly obligations. There are no significant concentrations of risk within plan assets, nor do the equity securities include any NewMarket common stock for any year presented. The assets of the postretirement benefit plan are invested completely in an insurance contract. No NewMarket common stock is included in these assets. The following table provides information on the fair value of our pension and postretirement benefit plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified by level in the fair value hierarchy. December 31, 2023 December 31, 2022 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Pension Plans Equity securities: U. S. companies $ 493,126 $ 493,126 $ 0 $ 0 $ 417,687 $ 417,687 $ 0 $ 0 International companies 20,970 20,970 0 0 19,022 19,022 0 0 Cash and cash equivalents 9,956 9,956 0 0 18,979 18,979 0 0 Pooled investment funds: Fixed income securities—mutual funds 27,108 27,108 0 0 29,838 29,838 0 0 Equities—mutual fund 74,099 74,099 0 0 0 0 0 0 Common collective trusts measured at net asset value 0 60,014 $ 625,259 $ 625,259 $ 0 $ 0 $ 545,540 $ 485,526 $ 0 $ 0 Postretirement Plans Insurance contract $ 20,375 $ 0 $ 20,375 $ 0 $ 20,734 $ 0 $ 20,734 $ 0 The valuation methodologies used to develop the fair value measurements for the investments in the previous table are outlined below. There have been no changes in the valuation techniques used to value the investments. • Equity securities are valued at the closing price reported on a national exchange. • Cash and cash equivalents are valued at cost. • The mutual funds in pooled investment funds are valued at the closing price reported on a national exchange. • The common collective trusts (the trusts) are valued at the net asset value of units held based on the quoted market value of the underlying investments held by the funds. One of the trusts invests primarily in a diversified portfolio of equity securities included in the S&P 500 index and the other trust invests primarily in a diversified portfolio of equity securities included in the Russell 1000 Value index. There are no restrictions on redemption for the index trusts and there were no unfunded commitments. We sold our interest in these trusts during 2023. • The insurance contracts are unallocated funds deposited with an insurance company and are stated at an amount equal to the sum of all amounts deposited less the sum of all amounts withdrawn, adjusted for investment return. Cash Flows - For U.S. plans, NewMarket expects to contribute $3 million to our defined benefit pension plans and $1 million to our postretirement benefit plan in 2024. The expected benefit payments for the next ten years are as follows. (in thousands) Expected Pension Expected 2024 $ 16,760 $ 2,284 2025 17,749 2,143 2026 18,631 2,032 2027 19,599 1,938 2028 20,583 1,871 2029 through 2033 117,705 9,181 Foreign Retirement Plans For most employees of our foreign subsidiaries, NewMarket has defined benefit pension plans that offer benefits based primarily on years of service and compensation. These defined benefit plans provide benefits for employees of our foreign subsidiaries located in Belgium, the U.K., Germany, Canada, and Mexico. NewMarket generally contributes to investment trusts and insurance accounts to provide for these plans. The components of net periodic pension cost (income), as well as other amounts recognized in other comprehensive income (loss), for these foreign defined benefit pension plans are shown below. Years Ended December 31, (in thousands) 2023 2022 2021 Net periodic benefit cost (income) Service cost $ 4,185 $ 8,546 $ 10,260 Interest cost 6,298 4,105 3,305 Expected return on plan assets (11,841) (9,827) (10,659) Amortization of prior service cost (credit) 138 137 152 Amortization of actuarial net (gain) loss (24) 630 3,595 Net periodic benefit cost (income) (1,244) 3,591 6,653 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (5,143) (41,108) (38,259) Amortization of actuarial net gain (loss) 24 (630) (3,595) Amortization of prior service (cost) credit (138) (137) (152) Total recognized in other comprehensive income (loss) (5,257) (41,875) (42,006) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (6,501) $ (38,284) $ (35,353) Changes in the benefit obligations and assets of the foreign defined benefit pension plans follow. December 31, (in thousands) 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 135,800 $ 235,347 Service cost 4,185 8,546 Interest cost 6,298 4,105 Employee contributions 673 693 Actuarial net (gain) loss (577) (87,076) Benefits paid (5,560) (5,403) Settlements (2,510) 0 Foreign currency translation 7,399 (20,412) Benefit obligation at end of year 145,708 135,800 Change in plan assets Fair value of plan assets at beginning of year 174,548 230,389 Actual return on plan assets 16,326 (34,748) Employer contributions 6,778 5,981 Employee contributions 673 693 Benefits paid (5,560) (5,403) Settlements (2,510) 0 Foreign currency translation 10,048 (22,364) Fair value of plan assets at end of year 200,303 174,548 Funded status $ 54,595 $ 38,748 Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 71,957 $ 58,374 Current liabilities (354) (321) Noncurrent liabilities (17,008) (19,305) $ 54,595 $ 38,748 Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ (3,413) $ 1,706 Prior service cost (credit) 394 532 $ (3,019) $ 2,238 The settlements in the table above are the result of a number of long-tenured employees in our Belgium plan retiring in 2023 with lump sum distributions. The accumulated benefit obligation for all foreign defined benefit pension plans was $134 million at December 31, 2023 and $122 million at December 31, 2022. The fair market value of plan assets exceeded both the accumulated benefit obligation and projected benefit obligation for the Canada and U.K. plans at both year-end 2023 and 2022. The net asset position of the Canada and U.K. plans are included in prepaid pension cost on the Consolidated Balance Sheets at December 31, 2023 and December 31, 2022. The accumulated benefit obligation and projected benefit obligation exceeded the fair market value of plan assets for the Germany, Belgium, and Mexico plans at December 31, 2023 and December 31, 2022. The accrued benefit cost of these plans is included in other noncurrent liabilities on the Consolidated Balance Sheets for both years. As the Germany plan is unfunded, a portion of the accrued benefit cost is included in current liabilities at year-end 2023 and 2022, reflecting the expected benefit payments related to the plan for the following year. The table below shows selected information on foreign defined benefit pension plans. December 31, (in thousands) 2023 2022 Pension plans with the accumulated benefit obligation in excess of the fair market value of plan assets Accumulated benefit obligation $ 22,762 $ 22,625 Fair market value of plan assets 13,420 13,072 Pension plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation 30,783 32,699 Fair market value of plan assets 13,420 13,072 Assumptions - We used the following weighted-average assumptions to calculate the results of our foreign defined benefit pension plans. 2023 2022 2021 Weighted-average assumptions used to determine net periodic benefit cost (income) for the years ended December 31, Discount rate 4.61 % 1.91 % 1.14 % Expected long-term rate of return on plan assets 6.47 % 4.59 % 4.95 % Rate of projected compensation increase 3.55 % 4.07 % 3.94 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 4.60 % 4.61 % 1.91 % Rate of projected compensation increase 3.52 % 3.55 % 4.07 % The actuarial assumptions used to measure the foreign defined benefit pension plans are based upon the circumstances of each particular country and pension plan. The factors impacting the determination of the long-term rate of return for a particular foreign pension plan include the market conditions within a particular country, as well as the investment strategy and asset allocation of the specific plan. Plan Assets - Pension plan assets vary by foreign location and plan. Assets are held and distributed by trusts and, depending upon the foreign location and plan, consist primarily of pooled equity funds, pooled debt securities funds, pooled diversified funds, equity securities, debt securities, cash, and insurance contracts. The combined weighted-average target allocation of our foreign defined benefit pension plans is 39% in equities (including pooled funds), 37% in debt securities (including pooled funds), 5% in insurance contracts, and 19% in pooled diversified funds. While the pension obligation is long-term in nature for each of our foreign plans, the investment strategies followed by each plan vary to some degree based upon the laws of a particular country, as well as the provisions of the specific pension trust. The U.K. and Canada plans are invested predominantly in equity securities funds, diversified funds, and debt securities funds. The funds of these plans are managed by various trustees and investment companies whose performance is reviewed throughout the year. The Belgium plan is invested in an insurance contract. The Mexico plans are invested in mutual funds, equities, and debt securities. The Germany plan has no assets. There are no significant concentrations of risk within plan assets, nor do the equity securities include any NewMarket common stock for any year presented. The following table provides information on the fair value of our foreign defined benefit pension plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using net asset value per share (or its equivalent) have not been classified by level in the fair value hierarchy. December 31, 2023 December 31, 2022 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Insurance contract $ 10,956 $ 0 $ 10,956 $ 0 $ 11,199 $ 0 $ 11,199 $ 0 Equity securities—international companies 45 45 0 0 492 492 0 0 Debt securities 273 273 0 0 734 734 0 0 Pooled investment funds—mutual funds 1,763 1,763 0 0 647 647 0 0 Cash and cash equivalents 1,187 1,187 0 0 384 384 0 0 Pooled investment funds (measured at net asset value): Equity securities—international companies 92,853 76,177 Debt securities 52,682 49,494 Diversified growth funds 40,544 35,421 $ 200,303 $ 3,268 $ 10,956 $ 0 $ 174,548 $ 2,257 $ 11,199 $ 0 The valuation methodologies used to develop the fair value measurements for the investments in the table above are outlined below. There have been no changes in the valuation techniques used to value the investments. • The insurance contract represents funds deposited with an insurance company and is stated at an amount equal to the sum of all amounts deposited less the sum of all amounts withdrawn, adjusted for investment return. • Equity securities are valued at the closing price reported on a national exchange. • Debt securities are valued by quoted market prices or valued based on yields currently available on comparable securities of issuers with similar credit ratings. • Pooled investment mutual funds are valued at the closing price reported on a national exchange. • Cash and cash equivalents are valued at cost. • The pooled investment funds are valued at the net asset value of units held by the plans based on the quoted market value of the underlying investments held by the fund. The U.K. pension plan is invested in units of life insurance policies that are linked to equity securities funds, government bond funds, and diversified growth funds. The underlying assets of the equity funds, bond funds, and diversified growth funds are traded on a national exchange and are based on tracking various indices of the London Stock Exchange. There are no redemption restrictions on these funds. There were no unfunded commitments for the U.K. pension plan funds. The Canada pension plan is invested in a pooled Canadian equity fund and a pooled diversified fund. The Canadian equity fund invests in a diversification (sector and industry) of equities listed on a recognized Canadian exchange. The diversified fund invests in a diversified mix of equities, fixed income securities, cash, and cash equivalent securities. There are no redemption restrictions on the pooled Canadian funds, and there were no unfunded commitments. Cash Flows - For foreign defined benefit pension plans, NewMarket expects to contribute $7 million to the plans in 2024. The expected benefit payments for the next ten years for our foreign defined benefit pension plans are shown in the following table. (in thousands) Expected Pension 2024 $ 7,117 2025 5,593 2026 6,013 2027 6,640 2028 7,732 2029 through 2033 41,544

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Tax Expense	Income Taxes Our income before income tax expense, as well as our provision for income taxes is shown in the table below. Years Ended December 31, (in thousands) 2023 2022 2021 Income before income tax expense Domestic $ 301,152 $ 170,785 $ 97,245 Foreign 187,810 176,949 150,306 $ 488,962 $ 347,734 $ 247,551 Income tax expense Current income taxes Federal $ 61,693 $ 57,778 $ 13,166 State 16,616 12,515 7,639 Foreign 36,539 40,548 33,860 114,848 110,841 54,665 Deferred income taxes Federal (16,384) (34,088) 1,232 State (697) (8,491) 38 Foreign 2,331 (66) 708 (14,750) (42,645) 1,978 Total income tax expense $ 100,098 $ 68,196 $ 56,643 The reconciliation of the U.S. federal statutory rate to the effective income tax rate follows. % of Income Before Income Tax Expense 2023 2022 2021 Federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal tax 2.6 0.9 2.4 Foreign operations 0.5 1.4 2.4 Research tax credit (1.4) (1.6) (2.2) Foreign-derived intangible tax benefit (2.0) (3.0) (0.7) Taxes applicable to prior years (1.4) (0.1) (0.4) Other items and adjustments 1.2 1.0 0.4 Effective income tax rate 20.5 % 19.6 % 22.9 % Our deferred income tax assets and liabilities follow. December 31, (in thousands) 2023 2022 Deferred income tax assets Capitalized research expenses $ 81,730 $ 53,249 Lease liabilities 14,511 11,868 Operating loss and credit carryforwards 15,952 15,336 Foreign currency translation adjustments 4,567 5,261 Other 12,100 14,159 Gross deferred income tax assets 128,860 99,873 Valuation allowance (13,437) (13,012) Total deferred income tax assets 115,423 86,861 Deferred income tax liabilities Depreciation and amortization 81,767 78,058 Future employee benefits 71,822 52,446 Lease assets 14,965 12,174 Other 2,800 2,601 Total deferred income tax liabilities 171,354 145,279 Net deferred income tax (liabilities) assets $ (55,931) $ (58,418) Net deferred income tax (liabilities) assets in the table above are reflected in the Consolidated Balance Sheets on a net jurisdictional basis. Deferred income tax assets are included in deferred charges and other assets. See Note 11. Deferred income tax liabilities are included in other noncurrent liabilities. See Note 14. Our deferred taxes are in a net liability position at December 31, 2023. Our deferred tax assets include $16 million of foreign operating loss carryforwards, foreign capital loss carryforwards, foreign non-trading deficit carryforwards, and foreign and state tax credits. The operating loss carryforwards expire in 2028 through 2041 and certain tax credits expire in 2026 through 2027. Based on current forecasted operating plans and historical profitability, we believe that we will recover the full benefit of our deferred tax assets with the exception of certain of the aforementioned operating loss, capital loss, and tax credit carryforwards. Therefore, as of December 31, 2023, we have recorded a valuation allowance of $13 million. During 2022 and 2023, we did not release any valuation allowances. We do not expect to distribute earnings from our foreign subsidiaries in a manner that would result in significant U.S. tax, as these earnings have been previously taxed in the U.S. or meet the requirements for a dividends received deduction. As of December 31, 2022 and December 31, 2023, we have an immaterial deferred tax liability for withholding taxes that will not be creditable upon distribution. We have not provided a deferred tax liability on approximately $74 million of temporary differences related to investments in foreign subsidiaries that are essentially permanent in duration, as these earnings are considered to be indefinitely reinvested. If we were to repatriate these earnings, we could be subject to income taxes and withholding taxes in various countries. Determination of the amount of unrecognized deferred income tax liability is not practicable due to the complexity associated with the hypothetical calculation. A reconciliation of the beginning and ending balances of the unrecognized tax benefits from uncertain positions is as follows: December 31, (in thousands) 2023 2022 2021 Balance at beginning of year $ 7,879 $ 6,374 $ 6,905 Increases for tax positions of prior years 1,374 1,677 0 Increases for tax positions of the current year 1,543 809 698 Settlements (1,078) 0 (247) Lapses of statutes (1,337) (981) (982) Balance at end of year $ 8,381 $ 7,879 $ 6,374 At December 31, 2023, all of the amount of unrecognized tax benefits, if recognized, would affect our effective tax rate. We expect the amount of unrecognized tax benefits to change in the next twelve months; however, we do not expect the change to have a material impact on our financial statements.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amount of cash and cash equivalents in the Consolidated Balance Sheets, as well as the fair value, was $112 million at December 31, 2023 and $69 million at December 31, 2022. The fair value is categorized in Level 1 of the fair value hierarchy. No material events occurred during 2023 requiring adjustment to the recognized balances of assets or liabilities which are recorded at fair value on a nonrecurring basis. Long-term debt - We record the carrying amount of our long-term debt at historical cost, less deferred financing costs related to our outstanding senior notes. The estimated fair value of our long-term debt is shown in the table below and is based primarily on estimated current rates available to us for debt of the same remaining duration and adjusted for nonperformance risk and credit risk. The estimated fair value of our publicly traded outstanding senior notes included in long-term debt in the following table is based on the last quoted price closest to December 31 of each year. The fair value of our debt instruments is categorized as Level 2. December 31, 2023 December 31, 2022 (in thousands) Carrying Fair Carrying Fair Long-term debt $ 643,622 $ 572,983 $ 1,003,737 $ 906,891

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual Commitments - We have non-lease contractual obligations for the construction of assets, as well as purchases of property and equipment, of approximately $13 million at December 31, 2023, all of which are due within five years. From time to time, we also have commitments for leases which have not yet commenced. See Note 16. Purchase Obligations - We have purchase obligations for goods or services that are enforceable, legally binding, and specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the approximate timing of the transaction. Purchase obligations exclude agreements that are cancelable without penalty. Purchase orders made in the ordinary course of business are excluded from this amount. Any amounts for which we are liable under purchase orders are reflected in our Consolidated Balance Sheets as accounts payable or accrued expenses. Future payments for purchase obligations as of December 31, 2023 are (in thousands): 2024 $ 12,535 2025 12,045 2026 10,662 2027 10,620 2028 2,589 After 2028 4,507 Litigation - We are involved in legal proceedings that are incidental to our business and may include administrative or judicial actions. Some of these legal proceedings involve governmental authorities and relate to environmental matters. For further information, see Environmental below and Item 1 of this Form 10-K. While it is not possible to predict or determine with certainty the outcome of any legal proceeding, we believe the outcome of any of these proceedings, or all of them combined, will not result in a material effect on our financial statements. Asbestos We are a defendant in personal injury lawsuits involving exposure to asbestos. These cases involve exposure to asbestos in premises owned or operated, or formerly owned or operated, by subsidiaries of NewMarket. We have never manufactured, sold, or distributed products that contain asbestos. Nearly all of these cases are pending in Texas, Louisiana, or Illinois and involve multiple defendants. We maintain an accrual for these proceedings, as well as a receivable for expected insurance recoveries. The accrual for our premises asbestos liability related to currently asserted claims is based on the following assumptions and factors: • We are often one of many defendants. This factor influences both the number of claims settled against us and the indemnity cost associated with such resolutions. • The estimated percent of claimants that, after discovery, will actually pursue a claim against us, out of the total number of claimants, is based on a level consistent with past experience and current trends. • We utilize average comparable plaintiff cost history as the basis for estimating pending premises asbestos-related claims. These claims are filed by both former contractors and former employees who worked at past and present company locations. We also include an estimated inflation factor in the calculation. • No estimate is made for unasserted claims. • The estimated recoveries from insurance and Albemarle Corporation (a former operation of our company) for these cases are based on, and are consistent with, the 2005 settlement agreements with The Travelers Indemnity Company. Based on the above assumptions, we have provided an undiscounted liability related to premises asbestos claims of $7 million at both December 31, 2023 and December 31, 2022. The liabilities related to premises asbestos claims are included in accrued expenses (current portion) and other noncurrent liabilities on the Consolidated Balance Sheets. Certain of these costs are recoverable through the settlement agreements with The Travelers Indemnity Company and with Albemarle Corporation. The receivable for these recoveries related to premises asbestos liabilities was $4 million at both December 31, 2023 and December 31, 2022. These receivables are included in trade and other accounts receivable, net on the Consolidated Balance Sheets for the current portion. The noncurrent portion is included in deferred charges and other assets. Environmental - We are involved in environmental proceedings and potential proceedings relating to soil and groundwater contamination, disposal of hazardous waste, and other environmental matters at several of our current or former facilities, or at third-party sites where we have been designated as a PRP. While we believe we are currently adequately accrued for known environmental issues, it is possible that unexpected future costs could have a significant impact on our financial statements. Our total accruals for environmental remediation, dismantling, and decontamination were approximately $11 million at December 31, 2023 and $10 million at December 31, 2022. Of the total accrual, the current portion is included in accrued expenses and the noncurrent portion is included in other noncurrent liabilities on the Consolidated Balance Sheets

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss The balances of, and changes in, the components of accumulated other comprehensive loss, net of tax, consist of the following: (in thousands) Pension Plans Foreign Currency Translation Adjustments Accumulated Other Balance at December 31, 2020 $ (92,771) $ (80,393) $ (173,164) Other comprehensive income (loss) before reclassifications 89,194 (3,356) 85,838 Amounts reclassified from accumulated other comprehensive loss (a) 5,099 0 5,099 Other comprehensive income (loss) 94,293 (3,356) 90,937 Balance at December 31, 2021 1,522 (83,749) (82,227) Other comprehensive income (loss) before reclassifications 53,019 (42,808) 10,211 Amounts reclassified from accumulated other comprehensive loss (a) 21 0 21 Other comprehensive income (loss) 53,040 (42,808) 10,232 Balance at December 31, 2022 54,562 (126,557) (71,995) Other comprehensive income (loss) before reclassifications 28,907 25,520 54,427 Amounts reclassified from accumulated other comprehensive loss (a) (3,503) 0 (3,503) Other comprehensive income (loss) 25,404 25,520 50,924 Balance at December 31, 2023 $ 79,966 $ (101,037) $ (21,071) (a) The pension plan and other postretirement benefit components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income). See Note 17 for further information.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" (ASU 2023-07). ASU 2023-07 requires expanded disclosures about reportable segments including additional information on segment expenses, expanded interim period disclosures, and an explanation of how the chief operating decision maker utilizes segment information in evaluating segment performance. ASU 2023-07 is effective for our reporting period beginning January 1, 2024 with the interim period requirements effective for our reporting period beginning January 1, 2025. We are currently assessing the impact that the adoption of ASU 2023-07 will have on the disclosures in our consolidated financial statements.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Events AMPAC Acquisition On January 16, 2024, we completed the acquisition of AMPAC Intermediate Holdings, LLC, the ultimate parent company of American Pacific Corporation (AMPAC), for approximately $700 million. AMPAC manufactures and sells critical performance additives used in solid rocket motors for space launch and military defense applications. AMPAC also manufactures and sells Halotron BrX, a fire extinguishing agent that replaces legacy high ozone-depleting fire extinguishing agents. The acquisition was funded by cash on hand and borrowings under our revolving credit facility. A preliminary purchase price allocation and any required pro forma financial disclosures required by Accounting Standards Codification 805 - Business Combinations will be included in the Quarterly Report on Form 10-Q for the quarter ending March 31, 2024. Debt Agreements On January 22, 2024, NewMarket and certain foreign subsidiary borrowers entered into a credit agreement for a new $900 million revolving credit facility (the Revolving Credit Agreement). The revolving credit facility matures on January 22, 2029 and includes a $500 million sublimit for multicurrency borrowings, an initial letter of credit sublimit of $25 million and a $20 million sublimit for swingline loans. The Revolving Credit Agreement includes an expansion feature allowing us, subject to certain conditions, to request an increase in the aggregate amount of the revolving credit facility or obtain incremental term loans in an amount up to $450 million. We may also request an extension of the maturity date as provided for in the Revolving Credit Agreement. Borrowings made under the revolving credit facility bear interest at a variable rate determined, at our option, at an annual rate equal to (i) the Base Rate, (ii) Term SOFR, (iii) the Weekly Adjusted Term SOFR, (iv) the Alternative Currency Term Rate, or (v) the Alternative Currency Daily Rate, each plus the Applicable Rate and all as defined in the Revolving Credit Agreement. The Applicable Rate is based, at our option, on either our Leverage Ratio or Ratings Level. All capitalized terms are as defined in the Revolving Credit Agreement. Also on January 22, 2024, NewMarket entered into a credit agreement for a $250 million term loan (the Term Loan Credit Agreement). The term loan matures on January 22, 2026. NewMarket is required to repay the principal amount borrowed under the term loan in full at maturity. We may, in our sole discretion and subject to the conditions set forth in the Term Loan Credit Agreement, prepay amounts borrowed under the term loan, together with any accrued and unpaid interest, prior to maturity. Any amounts prepaid prior to maturity are not available for additional borrowings by NewMarket. The principal amount borrowed under the term loan initially bears interest at a variable rate equal to Term SOFR plus the Applicable Rate. We may, at our option, elect for outstanding portions of the principal amount to instead bear interest at a variable rate equal to the Base Rate or Weekly Adjusted Term SOFR, plus, in each case, the Applicable Rate, subject to the conditions set forth in the Term Loan Credit Agreement. Similar to the revolving credit facility, the Applicable Rate is based, at our option, on either our Leverage Ratio or Ratings Level. All capitalized terms are as defined in the Term Loan Credit Agreement. The obligations under the revolving credit facility and the term loan are unsecured and the obligations under the revolving credit facility are fully and unconditionally guaranteed by NewMarket. Both the revolving credit facility and the term loan contain certain customary covenants, including financial covenants that require NewMarket to maintain a consolidated Leverage Ratio (as defined in each of the agreements) of no more than 3.75 to 1.00 except during an Increased Leverage Period (as defined in each of the agreements). Concurrently with our entry into the Revolving Credit Agreement and the Term Loan Credit Agreement, we terminated our former revolving credit facility dated as of March 5, 2020. See Note 13. Upon termination, we repaid the amount outstanding under the former revolving credit facility, plus accrued and unpaid interest. NewMarket borrowed the entire $250 million available under the Term Loan Credit Agreement and approximately $465 million under the Revolving Credit Agreement to repay the amounts outstanding under the former revolving credit facility.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income attributable to common shareholders before allocation of earnings to participating securities	$ 388,864	$ 279,538	$ 190,908

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Consolidation	Consolidation - Our consolidated financial statements include the accounts of NewMarket Corporation and its subsidiaries. All intercompany transactions are eliminated upon consolidation. References to "we," "us," "our," the "company," and "NewMarket" are to NewMarket Corporation and its consolidated subsidiaries, unless the context indicates otherwise. NewMarket is the parent company of separate operating companies, each managing its own assets and liabilities. Those companies are Afton, which focuses on petroleum additive products; Ethyl, representing certain contracted manufacturing and related services, as well as the antiknock compounds business; and NewMarket Development, which manages the real property and improvements that we own in Virginia. NewMarket is also the parent company of NewMarket Services, which provides various administrative services to NewMarket, Afton, Ethyl, and NewMarket Development.
Foreign Currency Translation	Foreign Currency Translation
Revenue Recognition	Revenue Recognition - We recognize revenue when control of the product is transferred to our customer and for an amount that reflects the consideration we expect to collect from the customer. Net sales (revenues) are reported at the gross amount billed, including amounts related to shipping that are charged to the customer. Provisions for rebates to customers are recorded in the same period that the related sales are recorded. Freight costs incurred on the delivery of products are included in the Consolidated Statements of Income in cost of goods sold. Our standard terms of delivery are included in our contracts, sales order confirmation documents, and invoices. Taxes assessed by a governmental authority concurrent with sales to our customers, including sales, use, value-added, and revenue-related excise taxes, are not included as net sales, but are reflected in accrued expenses until remitted to the appropriate governmental authority.
Cash and Cash Equivalents	Cash and Cash Equivalents - Our cash equivalents consist of government obligations and commercial paper with original maturities of less than 90 days. Throughout the year, we have cash balances in excess of federally insured amounts on deposit with various financial institutions. We state cash and cash equivalents at cost, which approximates fair value.
Marketable Securities, Policy	Marketable Securities -
Accounts Receivable	Accounts Receivable - We record our accounts receivable at invoiced amounts adjusted for allowances for credit losses. The allowance for credit losses represents probable losses to be incurred if our customers do not make required payments. We determine the adequacy of the allowance by periodically evaluating each customer’s receivable balance, considering their financial condition and credit history, and considering current economic conditions. The allowance for credit losses was not material at December 31, 2023 or December 31, 2022.
Inventories	Inventories - NewMarket values its inventories at the lower of cost or net realizable value. In the United States, petroleum additives inventory cost is determined on the last-in, first-out (LIFO) basis. For all other inventory, we determine cost using a weighted-average method. Inventory cost includes raw materials, direct labor, and manufacturing overhead.
Property, Plant, and Equipment	Property, Plant, and Equipment - We state property, plant, and equipment at cost less accumulated depreciation and compute depreciation by the straight-line method based on the estimated useful lives of the assets. We capitalize expenditures for significant improvements that extend the useful life of the related property. We expense repairs and maintenance, including plant turnaround costs, as incurred. When property is sold or retired, we remove the cost and accumulated depreciation from the accounts and any related gain or loss is included in earnings.
Intangibles (Net of Amortization) and Goodwill	Intangibles (Net of Amortization) and Goodwill - Identifiable intangibles include acquired contracts, formulas and technology, trademarks and trade names, and customer bases. We assign a value to acquired identifiable intangibles based on independent third-party appraisals and management's assessment at the time of acquisition. NewMarket amortizes the cost of the customer bases by an accelerated method and the cost of the remaining identifiable intangibles by the straight-line method over the estimated economic life of the intangible. Goodwill arises from the excess of cost over the net assets of businesses acquired. Goodwill represents the residual purchase price after allocation to all identifiable net assets. We test goodwill for impairment each year, as well as whenever a significant event or circumstance occurs which could reduce the fair value of the reporting unit to which the goodwill applies below the carrying amount of the reporting unit.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets - When significant events or circumstances occur that might impair the value of long-lived assets, we evaluate recoverability of the recorded cost of these assets. Assets are considered to be impaired if their carrying amount is not recoverable from the estimated undiscounted future cash flows associated with the assets. If we determine an asset is impaired and its recorded cost is higher than estimated fair value based on the estimated present value of future cash flows, we adjust the asset to the estimated fair value.
Environmental Costs	Environmental Costs - NewMarket capitalizes environmental compliance costs if they extend the useful life of the related property or prevent future contamination. Environmental compliance costs also include maintenance and operation of pollution prevention and control facilities. We expense these compliance costs in cost of goods sold as incurred. Accrued environmental remediation and monitoring costs relate to an existing condition caused by past operations. NewMarket accrues these costs in current operations within cost of goods sold in the Consolidated Statements of Income when it is probable that we have incurred a liability and the amount can be reasonably estimated. These estimates are based on an assessment of the site, available clean-up methods, and prior experience in handling remediation. When we can reliably determine the amount and timing of future cash flows, we discount these liabilities, incorporating an inflation factor.
Legal Costs	Legal Costs - We expense legal costs in the period incurred.
Employee Savings Plan	Employee Savings Plan -
Research, Development, and Testing Expenses	Research, Development, and Testing Expenses -
Income Taxes	Income Taxes - We recognize deferred income taxes for temporary differences between the financial reporting basis and the income tax basis of assets and liabilities. We also adjust for changes in tax rates and laws at the time the changes are enacted. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. We typically remove a tax impact from accumulated other comprehensive loss when the underlying circumstance which gave rise to the tax impact no longer exists. The calculation of income tax liabilities involves uncertainties in the application of complex tax laws and regulations, which are subject to legal interpretation and management judgment. Our income tax returns are regularly examined by federal, state and foreign tax authorities, and those audits may result in proposed adjustments. We have evaluated our tax positions under the more likely than not standard of the accounting literature, and a tax position is recognized if it meets this standard. Such judgments and estimates may change based on audit settlements, court cases, and interpretation of tax laws and regulations. We recognize accrued interest and penalties associated with uncertain tax positions as part of income tax expense on our Consolidated Statements of Income.
Leases	Leases - We determine if an arrangement includes a lease at the inception of the agreement. The right-of-use asset and lease liability are determined at the lease commencement date and are based on the present value of estimated lease payments. Our lease agreements contain both fixed and variable lease payments. In some cases, variable lease payments are based on a rate or an index. Fixed lease payments, as well as variable lease payments which are based on a rate or index, are included in the determination of the right-of-use asset and lease liability at lease inception. Variable lease payments that are not based on a rate or index are expensed when incurred. The present value of estimated lease payments is determined utilizing the rate implicit in the lease agreement if that rate can be determined. If the implicit rate cannot be determined, the present value of estimated lease payments is determined utilizing our incremental borrowing rate. The incremental borrowing rate is determined at the lease commencement date and is developed utilizing a readily available market interest rate curve adjusted for our credit quality. Some of our leases include an option to renew that can extend the lease term. For those leases which are reasonably certain to be renewed, we include the renewal in the lease term. We do not recognize leases with terms of 12 months or less on the balance sheet for any lease class, except the railcar lease class. For the short-term leases not recorded on the balance sheet, the lease payments are recognized in the Consolidated Statements of Income on a straight-line basis over the lease term. We account for the lease and nonlease components as a single lease component in determining the right-of-use assets and lease liabilities for all lease classes.
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities - We are exposed to certain risks arising from both our business operations and economic conditions. We manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage certain economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding, as well as through the use of derivative financial instruments. We sometimes enter into interest rate swaps to manage our exposure to interest rate movements. In addition, our foreign operations expose us to fluctuations of foreign exchange rates. These fluctuations may impact our results of operations, financial position, and cash flows. To manage this exposure, we sometimes enter into foreign currency forward contracts to minimize currency exposure due to cash flows from foreign operations. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply, or we elect not to apply hedge accounting. We do not enter into derivative instruments for speculative purposes. We had no derivative financial instruments outstanding at December 31, 2023 or December 31, 2022.
Stock-based Compensation	Stock-based Compensation - We calculate the fair value of restricted stock and restricted stock units based on the closing price of our common stock on the date of grant. If award recipients are entitled to receive dividends during the vesting period, we make no adjustment to the fair value of the award for dividends. If the award does not entitle recipients to dividends during the vesting period, we reduce the grant-date price of our common stock by the present value of the dividends expected to be paid on the underlying shares during the vesting period, discounted at the risk-free interest rate.
Estimates and Risks Due to Concentration of Business	Estimates and Risks Due to Concentration of Business - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, our financial results can be influenced by certain risk factors. Some of our significant concentrations of risk include the following: • reliance on a small number of significant customers; • customers concentrated in the fuel and lubricant industries; and • production of several of our products solely at one facility.
Debt, Policy [Policy Text Block]	Long-term debt -
Fair Value Measurement, Policy [Policy Text Block]	Long-term debt -

Net Sales (Tables)

Net Sales (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table provides information on our net sales by geographic area. Information on net sales by segment is in Note 4. Years Ended December 31, (in thousands) 2023 2022 2021 Net sales United States $ 972,954 $ 974,963 $ 780,278 China 186,181 181,283 255,219 Europe, Middle East, Africa, India 791,744 807,782 708,675 Asia Pacific, except China 396,790 435,684 325,621 Other foreign 350,750 365,087 286,317 Net sales $ 2,698,419 $ 2,764,799 $ 2,356,110

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share. Years Ended December 31, (in thousands, except per-share amounts) 2023 2022 2021 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 388,864 $ 279,538 $ 190,908 Earnings allocated to participating securities (1,339) (876) (462) Net income attributable to common shareholders after allocation of earnings to participating securities $ 387,525 $ 278,662 $ 190,446 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 9,583 10,035 10,756 Earnings per share - basic and diluted $ 40.44 $ 27.77 $ 17.71

Segment and Geographic Area I_2

Segment and Geographic Area Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Net Sales by Segment	The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the last three years. Years Ended December 31, (in thousands) 2023 2022 2021 Net sales Petroleum additives Lubricant additives $ 2,295,440 $ 2,342,622 $ 1,998,772 Fuel additives 394,269 411,688 345,170 Total 2,689,709 2,754,310 2,343,942 All other 8,710 10,489 12,168 Net sales (a) $ 2,698,419 $ 2,764,799 $ 2,356,110 Segment operating profit Petroleum additives $ 514,428 $ 378,244 $ 281,055 All other (4,986) (1,782) (1,525) Segment operating profit 509,442 376,462 279,530 Corporate, general, and administrative expenses (26,147) (21,579) (21,214) Interest and financing expenses, net (37,359) (35,202) (34,218) Loss on early extinguishment of debt 0 (7,545) 0 Other income (expense), net 43,026 35,598 23,453 Income before income tax expense $ 488,962 $ 347,734 $ 247,551 (a)
Schedule Of Segment Operating Profit	The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the last three years. Years Ended December 31, (in thousands) 2023 2022 2021 Net sales Petroleum additives Lubricant additives $ 2,295,440 $ 2,342,622 $ 1,998,772 Fuel additives 394,269 411,688 345,170 Total 2,689,709 2,754,310 2,343,942 All other 8,710 10,489 12,168 Net sales (a) $ 2,698,419 $ 2,764,799 $ 2,356,110 Segment operating profit Petroleum additives $ 514,428 $ 378,244 $ 281,055 All other (4,986) (1,782) (1,525) Segment operating profit 509,442 376,462 279,530 Corporate, general, and administrative expenses (26,147) (21,579) (21,214) Interest and financing expenses, net (37,359) (35,202) (34,218) Loss on early extinguishment of debt 0 (7,545) 0 Other income (expense), net 43,026 35,598 23,453 Income before income tax expense $ 488,962 $ 347,734 $ 247,551 (a)
Schedule Of Asset Information By Segment	The following tables show asset information by segment and the reconciliation to consolidated assets. Segment assets consist of accounts receivable, inventory, and long-lived assets. Long-lived assets included in the petroleum additives segment amounts in the table below include property, plant, and equipment (net of depreciation), intangibles (net of amortization) and goodwill, and lease right-of-use assets. The additions to long-lived assets include property, plant, and equipment and lease right-of-use assets. December 31, (in thousands) 2023 2022 Segment assets Petroleum additives $ 1,728,397 $ 1,929,340 All other 10,098 18,738 1,738,495 1,948,078 Cash and cash equivalents 111,936 68,712 Non-segment other accounts receivable 3,083 2,220 Prepaid expenses and other current assets 39,051 38,338 Non-segment property, plant, and equipment, net 31,983 32,191 Prepaid pension cost 370,882 302,584 Non-segment lease right-of-use assets 5 26 Non-segment deferred charges and other assets 13,436 14,669 Total assets $ 2,308,871 $ 2,406,818
Additions To Long-lived Assets And Depreciation And Amortization By Segment	Years Ended December 31, (in thousands) 2023 2022 2021 Additions to long-lived assets Petroleum additives $ 72,038 $ 64,456 $ 134,873 All other 1 147 22 Corporate 2,018 3,983 686 Total additions to long-lived assets $ 74,057 $ 68,586 $ 135,581 Depreciation and amortization Petroleum additives $ 74,471 $ 78,744 $ 80,495 All other 45 51 51 Corporate 3,494 3,490 3,774 Total depreciation and amortization $ 78,010 $ 82,285 $ 84,320
Schedule Of Net Sales, Total Assets, And Long-Lived Assets By Geographic Area	The tables below report net sales, total assets, and long-lived assets by geographic area, as well as by country for those countries with significant net sales or long-lived assets. Since our foreign operations are significant to our overall business, we are also presenting net sales in the table below by the major regions in which we operate. NewMarket assigns net sales to geographic areas based on the location to which the product was shipped to a third party. Long-lived assets in the table below include property, plant, and equipment, net of depreciation, and lease right-of-use assets. Years Ended December 31, (in thousands) 2023 2022 2021 Net sales United States $ 972,954 $ 974,963 $ 780,278 China 186,181 181,283 255,219 Europe, Middle East, Africa, India 791,744 807,782 708,675 Asia Pacific, except China 396,790 435,684 325,621 Other foreign 350,750 365,087 286,317 Net sales $ 2,698,419 $ 2,764,799 $ 2,356,110 December 31, (in thousands) 2023 2022 Total assets United States $ 1,016,449 $ 990,037 Foreign 1,292,422 1,416,781 Total assets $ 2,308,871 $ 2,406,818 Long-lived assets United States $ 376,421 $ 363,211 Singapore 234,484 247,218 Other foreign 149,436 148,879 Total long-lived assets $ 760,341 $ 759,308

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Schedule Of Supplemental Cash Flow Information	Years Ended December 31, (in thousands) 2023 2022 2021 Cash paid during the year for Interest and financing expenses (net of capitalization) $ 36,644 $ 40,531 $ 30,465 Income taxes 132,928 88,866 67,917 Supplemental disclosure of non-cash transactions Non-cash additions to property, plant, and equipment $ 1,788 $ 4,087 $ 4,872

Trade and Other Accounts Rece_2

Trade and Other Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Trade and Other Accounts Receivable, Net	December 31, (in thousands) 2023 2022 Trade receivables $ 368,240 $ 384,636 Income and other tax receivables 59,190 60,745 Other 4,919 8,311 $ 432,349 $ 453,692

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule Of Inventories	December 31, (in thousands) 2023 2022 Finished goods and work-in-process $ 351,746 $ 497,652 Raw materials 82,441 113,484 Stores, supplies, and other 22,047 20,247 $ 456,234 $ 631,383

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	December 31, (in thousands) 2023 2022 Dividend funding $ 19,212 $ 17,850 Income taxes on intercompany profit 7,054 6,925 Other 12,785 13,563 $ 39,051 $ 38,338

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, at Cost (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule Of Property, Plant, And Equipment, At Cost	December 31, (in thousands) 2023 2022 Land $ 37,225 $ 37,088 Land improvements 65,064 64,061 Leasehold improvements 1,842 1,832 Buildings 185,537 183,030 Machinery and equipment 1,328,808 1,279,425 Construction in progress 27,563 30,916 1,646,039 1,596,352 Less: accumulated depreciation and amortization 991,292 936,354 Net property, plant, and equipment $ 654,747 $ 659,998
Schedule Of Useful Lives Of Property, Plant, And Equipment	We depreciate the cost of property, plant, and equipment by the straight-line method over the following estimated useful lives: Land improvements 3 - 40 years Buildings 5 - 46 years Machinery and equipment 1 - 30 years

Intangibles (Net of Amortizat_2

Intangibles (Net of Amortization) and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets and Goodwill	The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. December 31, 2023 2022 (in thousands) Gross Accumulated Gross Accumulated Amortizing intangible assets Formulas and technology $ 6,200 $ 6,200 $ 6,200 $ 5,683 Contract 2,000 2,000 2,000 1,200 Customer base 5,440 4,539 5,440 4,350 Goodwill 123,741 123,662 $ 137,381 $ 12,739 $ 137,302 $ 11,233 Aggregate amortization expense $ 1,506 $ 1,423
Schedule Of Estimated Annual Amortization Expense Related To Intangible Assets	Estimated annual amortization expense related to our intangible assets for the next five years is expected to be (in thousands): 2024 $ 190 2025 190 2026 190 2027 190 2028 141

Deferred Charges and Other As_2

Deferred Charges and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets, Noncurrent [Abstract]
Schedule Of Deferred Charges and Other Assets	December 31, (in thousands) 2023 2022 Finance lease right-of-use assets $ 34,771 $ 36,893 Deferred income tax assets 2,726 3,575 Asbestos insurance receivables 2,883 2,994 Deferred financing costs, net of amortization 611 1,095 Deposit on future leased plant and equipment 0 12,063 Other 7,216 7,005 $ 48,207 $ 63,625

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Schedule Of Accrued Expenses	December 31, (in thousands) 2023 2022 Employee benefits, payroll, and related taxes $ 35,800 $ 36,878 Customer rebates 18,132 27,752 Interest on long-term debt 8,026 8,710 Taxes other than income and payroll 4,907 3,715 Other 9,681 12,453 $ 76,546 $ 89,508

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	December 31, (in thousands) 2023 2022 Senior notes - 2.70% due 2031 (net of related deferred financing costs) $ 393,622 $ 392,737 Senior notes - 3.78% due 2029 250,000 250,000 Revolving credit facility 0 361,000 643,622 1,003,737

Other Noncurrent Liabilities (T

Other Noncurrent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities, Noncurrent [Abstract]
Schedule Of Other Noncurrent Liabilities	December 31, (in thousands) 2023 2022 Deferred income tax liabilities $ 58,657 $ 61,993 Employee benefits 61,656 58,974 Finance lease liabilities 19,844 22,433 Environmental remediation 9,601 9,454 Asbestos litigation reserve 5,193 5,354 Deemed repatriation of earnings 2,956 2,956 Other 11,059 8,655 $ 168,966 $ 169,819

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Restricted Stock and Restricted Stock Unit Activity	A summary of activity during 2023 related to NewMarket’s restricted stock and restricted stock units (stock awards) is presented below in whole shares: Number of Shares Weighted Average Grant-Date Fair Value Unvested stock awards at January 1, 2023 34,412 $ 390.02 Granted in 2023 10,115 341.93 Vested in 2023 (7,441) 416.24 Forfeited in 2023 (1,668) 394.62 Unvested stock awards at December 31, 2023 35,418 370.56

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Components of Lease Expense	The components of lease cost were as follows: Years Ended December 31, (in thousands) 2023 2022 2021 Operating lease cost $ 19,242 $ 18,573 $ 18,343 Finance lease cost: Amortization of assets 2,547 2,771 2,795 Interest on lease liabilities 657 712 517 Short-term lease cost 2,463 6,246 6,607 Variable lease cost 5,539 8,152 6,364 Total lease cost $ 30,448 $ 36,454 $ 34,626
Lessee Leases Table Text Block	Supplemental balance sheet information related to leases was as follows: December 31, (in thousands) Balance Sheet Classification 2023 2022 Operating leases Right-of-use assets Operating lease right-of-use assets $ 70,823 $ 62,417 Current liability Operating lease liabilities $ 15,074 $ 15,569 Noncurrent liability Operating lease liabilities-noncurrent 55,058 46,968 $ 70,132 $ 62,537 Finance leases Right-of-use assets Deferred charges and other assets $ 34,771 $ 36,893 Current liability Other current liabilities $ 2,754 $ 2,706 Noncurrent liability Other noncurrent liabilities 19,844 22,433 $ 22,598 $ 25,139 December 31, 2023 2022 2021 Weighted average remaining lease term (in years) Operating leases 12 12 12 Finance leases 14 15 16 Weighted average incremental borrowing rate Operating leases 4.07 % 3.21 % 3.02 % Finance leases 2.92 % 2.72 % 2.74 % Supplemental cash flow information related to leases was as follows: Years Ended December 31, (in thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 19,929 $ 18,632 $ 18,296 Operating cash flows from finance leases 656 712 517 Financing cash flows from finance leases 3,087 2,834 2,841 Right-of-use assets obtained in exchange for new lease obligations Operating leases $ 25,339 $ 12,333 $ 25,035 Finance leases 425 84 31,612
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities at December 31, 2023 were as follows: (in thousands) Operating Leases Finance Leases 2024 $ 17,525 $ 3,366 2025 15,356 3,333 2026 11,273 3,304 2027 7,720 3,285 2028 5,653 3,270 Thereafter 33,591 8,635 Total lease payments 91,118 25,193 Less: imputed interest 20,986 2,595 Total lease obligations $ 70,132 $ 22,598
Finance Lease, Liability, Fiscal Year Maturity	Maturities of lease liabilities at December 31, 2023 were as follows: (in thousands) Operating Leases Finance Leases 2024 $ 17,525 $ 3,366 2025 15,356 3,333 2026 11,273 3,304 2027 7,720 3,285 2028 5,653 3,270 Thereafter 33,591 8,635 Total lease payments 91,118 25,193 Less: imputed interest 20,986 2,595 Total lease obligations $ 70,132 $ 22,598

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost (Income)	The components of net periodic pension and postretirement benefit cost (income), as well as other amounts recognized in other comprehensive income (loss), are shown below. Years Ended December 31, Pension Benefits Postretirement Benefits (in thousands) 2023 2022 2021 2023 2022 2021 Net periodic benefit cost (income) Service cost $ 10,399 $ 18,935 $ 19,316 $ 520 $ 1,093 $ 1,079 Interest cost 18,212 13,478 13,018 1,582 1,163 1,158 Expected return on plan assets (46,039) (43,765) (38,675) (781) (790) (907) Amortization of prior service cost (credit) 186 271 271 (3,028) (3,028) (3,028) Amortization of actuarial net (gain) loss (1,598) 1,988 5,708 (275) 51 36 Net periodic benefit cost (income) (18,840) (9,093) (362) (1,982) (1,511) (1,662) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (34,997) (17,083) (79,688) 918 (12,445) (257) Prior service cost (credit) 648 86 (35) 0 0 0 Amortization of actuarial net gain (loss) 1,598 (1,988) (5,708) 275 (51) (36) Amortization of prior service (cost) credit (186) (271) (271) 3,028 3,028 3,028 Total recognized in other comprehensive income (loss) (32,937) (19,256) (85,702) 4,221 (9,468) 2,735 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (51,777) $ (28,349) $ (86,064) $ 2,239 $ (10,979) $ 1,073 The components of net periodic pension cost (income), as well as other amounts recognized in other comprehensive income (loss), for these foreign defined benefit pension plans are shown below. Years Ended December 31, (in thousands) 2023 2022 2021 Net periodic benefit cost (income) Service cost $ 4,185 $ 8,546 $ 10,260 Interest cost 6,298 4,105 3,305 Expected return on plan assets (11,841) (9,827) (10,659) Amortization of prior service cost (credit) 138 137 152 Amortization of actuarial net (gain) loss (24) 630 3,595 Net periodic benefit cost (income) (1,244) 3,591 6,653 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (5,143) (41,108) (38,259) Amortization of actuarial net gain (loss) 24 (630) (3,595) Amortization of prior service (cost) credit (138) (137) (152) Total recognized in other comprehensive income (loss) (5,257) (41,875) (42,006) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (6,501) $ (38,284) $ (35,353)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	The components of net periodic pension and postretirement benefit cost (income), as well as other amounts recognized in other comprehensive income (loss), are shown below. Years Ended December 31, Pension Benefits Postretirement Benefits (in thousands) 2023 2022 2021 2023 2022 2021 Net periodic benefit cost (income) Service cost $ 10,399 $ 18,935 $ 19,316 $ 520 $ 1,093 $ 1,079 Interest cost 18,212 13,478 13,018 1,582 1,163 1,158 Expected return on plan assets (46,039) (43,765) (38,675) (781) (790) (907) Amortization of prior service cost (credit) 186 271 271 (3,028) (3,028) (3,028) Amortization of actuarial net (gain) loss (1,598) 1,988 5,708 (275) 51 36 Net periodic benefit cost (income) (18,840) (9,093) (362) (1,982) (1,511) (1,662) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (34,997) (17,083) (79,688) 918 (12,445) (257) Prior service cost (credit) 648 86 (35) 0 0 0 Amortization of actuarial net gain (loss) 1,598 (1,988) (5,708) 275 (51) (36) Amortization of prior service (cost) credit (186) (271) (271) 3,028 3,028 3,028 Total recognized in other comprehensive income (loss) (32,937) (19,256) (85,702) 4,221 (9,468) 2,735 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (51,777) $ (28,349) $ (86,064) $ 2,239 $ (10,979) $ 1,073 The components of net periodic pension cost (income), as well as other amounts recognized in other comprehensive income (loss), for these foreign defined benefit pension plans are shown below. Years Ended December 31, (in thousands) 2023 2022 2021 Net periodic benefit cost (income) Service cost $ 4,185 $ 8,546 $ 10,260 Interest cost 6,298 4,105 3,305 Expected return on plan assets (11,841) (9,827) (10,659) Amortization of prior service cost (credit) 138 137 152 Amortization of actuarial net (gain) loss (24) 630 3,595 Net periodic benefit cost (income) (1,244) 3,591 6,653 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) Actuarial net (gain) loss (5,143) (41,108) (38,259) Amortization of actuarial net gain (loss) 24 (630) (3,595) Amortization of prior service (cost) credit (138) (137) (152) Total recognized in other comprehensive income (loss) (5,257) (41,875) (42,006) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (6,501) $ (38,284) $ (35,353)
Schedule of Changes in the Plans' Benefit Obligations and Assets	Changes in the plans’ benefit obligations and assets follow. December 31, Pension Benefits Postretirement Benefits (in thousands) 2023 2022 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 330,372 $ 478,809 $ 28,914 $ 41,348 Service cost 10,399 18,935 520 1,093 Interest cost 18,212 13,478 1,582 1,163 Actuarial net (gain) loss 12,039 (166,409) 1,204 (12,064) Plan amendment 648 86 0 0 Benefits paid (15,757) (14,527) (2,388) (2,626) Benefit obligation at end of year 355,913 330,372 29,832 28,914 Change in plan assets Fair value of plan assets at beginning of year 545,540 663,193 20,734 20,972 Actual return on plan assets 93,075 (105,560) 1,067 1,171 Employer contributions 2,401 2,434 962 1,217 Benefits paid (15,757) (14,527) (2,388) (2,626) Fair value of plan assets at end of year 625,259 545,540 20,375 20,734 Funded status $ 269,346 $ 215,168 $ (9,457) $ (8,180) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 298,925 $ 244,210 $ 0 $ 0 Current liabilities (2,865) (2,834) (1,109) (1,086) Noncurrent liabilities (26,714) (26,208) (8,348) (7,094) $ 269,346 $ 215,168 $ (9,457) $ (8,180) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ (74,212) $ (40,813) $ (6,618) $ (7,811) Prior service cost (credit) 607 145 (10,533) (13,561) $ (73,605) $ (40,668) $ (17,151) $ (21,372) Changes in the benefit obligations and assets of the foreign defined benefit pension plans follow. December 31, (in thousands) 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 135,800 $ 235,347 Service cost 4,185 8,546 Interest cost 6,298 4,105 Employee contributions 673 693 Actuarial net (gain) loss (577) (87,076) Benefits paid (5,560) (5,403) Settlements (2,510) 0 Foreign currency translation 7,399 (20,412) Benefit obligation at end of year 145,708 135,800 Change in plan assets Fair value of plan assets at beginning of year 174,548 230,389 Actual return on plan assets 16,326 (34,748) Employer contributions 6,778 5,981 Employee contributions 673 693 Benefits paid (5,560) (5,403) Settlements (2,510) 0 Foreign currency translation 10,048 (22,364) Fair value of plan assets at end of year 200,303 174,548 Funded status $ 54,595 $ 38,748 Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 71,957 $ 58,374 Current liabilities (354) (321) Noncurrent liabilities (17,008) (19,305) $ 54,595 $ 38,748 Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ (3,413) $ 1,706 Prior service cost (credit) 394 532 $ (3,019) $ 2,238
Schedule of Amounts Recognized in the Consolidated Balance Sheets	Changes in the plans’ benefit obligations and assets follow. December 31, Pension Benefits Postretirement Benefits (in thousands) 2023 2022 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 330,372 $ 478,809 $ 28,914 $ 41,348 Service cost 10,399 18,935 520 1,093 Interest cost 18,212 13,478 1,582 1,163 Actuarial net (gain) loss 12,039 (166,409) 1,204 (12,064) Plan amendment 648 86 0 0 Benefits paid (15,757) (14,527) (2,388) (2,626) Benefit obligation at end of year 355,913 330,372 29,832 28,914 Change in plan assets Fair value of plan assets at beginning of year 545,540 663,193 20,734 20,972 Actual return on plan assets 93,075 (105,560) 1,067 1,171 Employer contributions 2,401 2,434 962 1,217 Benefits paid (15,757) (14,527) (2,388) (2,626) Fair value of plan assets at end of year 625,259 545,540 20,375 20,734 Funded status $ 269,346 $ 215,168 $ (9,457) $ (8,180) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 298,925 $ 244,210 $ 0 $ 0 Current liabilities (2,865) (2,834) (1,109) (1,086) Noncurrent liabilities (26,714) (26,208) (8,348) (7,094) $ 269,346 $ 215,168 $ (9,457) $ (8,180) Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ (74,212) $ (40,813) $ (6,618) $ (7,811) Prior service cost (credit) 607 145 (10,533) (13,561) $ (73,605) $ (40,668) $ (17,151) $ (21,372) Changes in the benefit obligations and assets of the foreign defined benefit pension plans follow. December 31, (in thousands) 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 135,800 $ 235,347 Service cost 4,185 8,546 Interest cost 6,298 4,105 Employee contributions 673 693 Actuarial net (gain) loss (577) (87,076) Benefits paid (5,560) (5,403) Settlements (2,510) 0 Foreign currency translation 7,399 (20,412) Benefit obligation at end of year 145,708 135,800 Change in plan assets Fair value of plan assets at beginning of year 174,548 230,389 Actual return on plan assets 16,326 (34,748) Employer contributions 6,778 5,981 Employee contributions 673 693 Benefits paid (5,560) (5,403) Settlements (2,510) 0 Foreign currency translation 10,048 (22,364) Fair value of plan assets at end of year 200,303 174,548 Funded status $ 54,595 $ 38,748 Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ 71,957 $ 58,374 Current liabilities (354) (321) Noncurrent liabilities (17,008) (19,305) $ 54,595 $ 38,748 Amounts recognized in accumulated other comprehensive loss Actuarial net (gain) loss $ (3,413) $ 1,706 Prior service cost (credit) 394 532 $ (3,019) $ 2,238
Schedule of Plans With the Benefit Obligation in Excess of the Fair Market Value of Plan Assets	The table below shows selected information on domestic defined benefit pension and postretirement plans. December 31, (in thousands) 2023 2022 Pension plans with the accumulated benefit obligation in excess of the fair market value of plan assets Accumulated benefit obligation $ 29,407 $ 28,838 Fair market value of plan assets 0 0 Pension plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation 29,579 29,042 Fair market value of plan assets 0 0 Postretirement benefit plans with the accumulated postretirement benefit obligation in excess of the fair market value of plan assets Accumulated postretirement benefit obligation 18,372 17,782 Fair market value of plan assets 0 0 The table below shows selected information on foreign defined benefit pension plans. December 31, (in thousands) 2023 2022 Pension plans with the accumulated benefit obligation in excess of the fair market value of plan assets Accumulated benefit obligation $ 22,762 $ 22,625 Fair market value of plan assets 13,420 13,072 Pension plans with the projected benefit obligation in excess of the fair market value of plan assets Projected benefit obligation 30,783 32,699 Fair market value of plan assets 13,420 13,072
Schedule of Assumptions to Calculate the Results of Our Retirement Plans	We used the following assumptions to calculate the results of our retirement plans: Pension Benefits Postretirement Benefits 2023 2022 2021 2023 2022 2021 Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31, Discount rate 5.625 % 2.875 % 2.875 % 5.625 % 2.875 % 2.875 % Expected long-term rate of return on plan assets 8.00 % 8.00 % 8.00 % 4.00 % 4.00 % 4.50 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 5.375 % 5.625 % 2.875 % 5.375 % 5.625 % 2.875 % Rate of projected compensation increase 3.50 % 3.50 % 3.50 % We used the following weighted-average assumptions to calculate the results of our foreign defined benefit pension plans. 2023 2022 2021 Weighted-average assumptions used to determine net periodic benefit cost (income) for the years ended December 31, Discount rate 4.61 % 1.91 % 1.14 % Expected long-term rate of return on plan assets 6.47 % 4.59 % 4.95 % Rate of projected compensation increase 3.55 % 4.07 % 3.94 % Weighted-average assumptions used to determine benefit obligations at December 31, Discount rate 4.60 % 4.61 % 1.91 % Rate of projected compensation increase 3.52 % 3.55 % 4.07 %
Schedule of Fair Value of Pension and Postretirement Benefit Plans Assets	The following table provides information on the fair value of our pension and postretirement benefit plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified by level in the fair value hierarchy. December 31, 2023 December 31, 2022 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Pension Plans Equity securities: U. S. companies $ 493,126 $ 493,126 $ 0 $ 0 $ 417,687 $ 417,687 $ 0 $ 0 International companies 20,970 20,970 0 0 19,022 19,022 0 0 Cash and cash equivalents 9,956 9,956 0 0 18,979 18,979 0 0 Pooled investment funds: Fixed income securities—mutual funds 27,108 27,108 0 0 29,838 29,838 0 0 Equities—mutual fund 74,099 74,099 0 0 0 0 0 0 Common collective trusts measured at net asset value 0 60,014 $ 625,259 $ 625,259 $ 0 $ 0 $ 545,540 $ 485,526 $ 0 $ 0 Postretirement Plans Insurance contract $ 20,375 $ 0 $ 20,375 $ 0 $ 20,734 $ 0 $ 20,734 $ 0 The following table provides information on the fair value of our foreign defined benefit pension plans assets, as well as the related level within the fair value hierarchy. Investments that are measured at fair value using net asset value per share (or its equivalent) have not been classified by level in the fair value hierarchy. December 31, 2023 December 31, 2022 Fair Value Measurements Using Fair Value Measurements Using (in thousands) Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Insurance contract $ 10,956 $ 0 $ 10,956 $ 0 $ 11,199 $ 0 $ 11,199 $ 0 Equity securities—international companies 45 45 0 0 492 492 0 0 Debt securities 273 273 0 0 734 734 0 0 Pooled investment funds—mutual funds 1,763 1,763 0 0 647 647 0 0 Cash and cash equivalents 1,187 1,187 0 0 384 384 0 0 Pooled investment funds (measured at net asset value): Equity securities—international companies 92,853 76,177 Debt securities 52,682 49,494 Diversified growth funds 40,544 35,421 $ 200,303 $ 3,268 $ 10,956 $ 0 $ 174,548 $ 2,257 $ 11,199 $ 0
Schedule of Expected Benefit Payments	The expected benefit payments for the next ten years are as follows. (in thousands) Expected Pension Expected 2024 $ 16,760 $ 2,284 2025 17,749 2,143 2026 18,631 2,032 2027 19,599 1,938 2028 20,583 1,871 2029 through 2033 117,705 9,181 (in thousands) Expected Pension 2024 $ 7,117 2025 5,593 2026 6,013 2027 6,640 2028 7,732 2029 through 2033 41,544

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Tax Expense	Our income before income tax expense, as well as our provision for income taxes is shown in the table below. Years Ended December 31, (in thousands) 2023 2022 2021 Income before income tax expense Domestic $ 301,152 $ 170,785 $ 97,245 Foreign 187,810 176,949 150,306 $ 488,962 $ 347,734 $ 247,551 Income tax expense Current income taxes Federal $ 61,693 $ 57,778 $ 13,166 State 16,616 12,515 7,639 Foreign 36,539 40,548 33,860 114,848 110,841 54,665 Deferred income taxes Federal (16,384) (34,088) 1,232 State (697) (8,491) 38 Foreign 2,331 (66) 708 (14,750) (42,645) 1,978 Total income tax expense $ 100,098 $ 68,196 $ 56,643
Schedule of Provision for Income Taxes	Our income before income tax expense, as well as our provision for income taxes is shown in the table below. Years Ended December 31, (in thousands) 2023 2022 2021 Income before income tax expense Domestic $ 301,152 $ 170,785 $ 97,245 Foreign 187,810 176,949 150,306 $ 488,962 $ 347,734 $ 247,551 Income tax expense Current income taxes Federal $ 61,693 $ 57,778 $ 13,166 State 16,616 12,515 7,639 Foreign 36,539 40,548 33,860 114,848 110,841 54,665 Deferred income taxes Federal (16,384) (34,088) 1,232 State (697) (8,491) 38 Foreign 2,331 (66) 708 (14,750) (42,645) 1,978 Total income tax expense $ 100,098 $ 68,196 $ 56,643
Reconciliation Of U.S. Federal Statutory Rate To Effective Income Tax Rate	The reconciliation of the U.S. federal statutory rate to the effective income tax rate follows. % of Income Before Income Tax Expense 2023 2022 2021 Federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal tax 2.6 0.9 2.4 Foreign operations 0.5 1.4 2.4 Research tax credit (1.4) (1.6) (2.2) Foreign-derived intangible tax benefit (2.0) (3.0) (0.7) Taxes applicable to prior years (1.4) (0.1) (0.4) Other items and adjustments 1.2 1.0 0.4 Effective income tax rate 20.5 % 19.6 % 22.9 %
Schedule of Deferred Income Tax Assets and Liabilities	Our deferred income tax assets and liabilities follow. December 31, (in thousands) 2023 2022 Deferred income tax assets Capitalized research expenses $ 81,730 $ 53,249 Lease liabilities 14,511 11,868 Operating loss and credit carryforwards 15,952 15,336 Foreign currency translation adjustments 4,567 5,261 Other 12,100 14,159 Gross deferred income tax assets 128,860 99,873 Valuation allowance (13,437) (13,012) Total deferred income tax assets 115,423 86,861 Deferred income tax liabilities Depreciation and amortization 81,767 78,058 Future employee benefits 71,822 52,446 Lease assets 14,965 12,174 Other 2,800 2,601 Total deferred income tax liabilities 171,354 145,279 Net deferred income tax (liabilities) assets $ (55,931) $ (58,418)
Schedule of Reconciliation Of Unrecognized Tax Benefits	A reconciliation of the beginning and ending balances of the unrecognized tax benefits from uncertain positions is as follows: December 31, (in thousands) 2023 2022 2021 Balance at beginning of year $ 7,879 $ 6,374 $ 6,905 Increases for tax positions of prior years 1,374 1,677 0 Increases for tax positions of the current year 1,543 809 698 Settlements (1,078) 0 (247) Lapses of statutes (1,337) (981) (982) Balance at end of year $ 8,381 $ 7,879 $ 6,374

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Estimated Fair Value Of Long-Term Debt	December 31, 2023 December 31, 2022 (in thousands) Carrying Fair Carrying Fair Long-term debt $ 643,622 $ 572,983 $ 1,003,737 $ 906,891

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Future Payments for Purchase Obligations	Future payments for purchase obligations as of December 31, 2023 are (in thousands): 2024 $ 12,535 2025 12,045 2026 10,662 2027 10,620 2028 2,589 After 2028 4,507

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss, Net of Tax	The balances of, and changes in, the components of accumulated other comprehensive loss, net of tax, consist of the following: (in thousands) Pension Plans Foreign Currency Translation Adjustments Accumulated Other Balance at December 31, 2020 $ (92,771) $ (80,393) $ (173,164) Other comprehensive income (loss) before reclassifications 89,194 (3,356) 85,838 Amounts reclassified from accumulated other comprehensive loss (a) 5,099 0 5,099 Other comprehensive income (loss) 94,293 (3,356) 90,937 Balance at December 31, 2021 1,522 (83,749) (82,227) Other comprehensive income (loss) before reclassifications 53,019 (42,808) 10,211 Amounts reclassified from accumulated other comprehensive loss (a) 21 0 21 Other comprehensive income (loss) 53,040 (42,808) 10,232 Balance at December 31, 2022 54,562 (126,557) (71,995) Other comprehensive income (loss) before reclassifications 28,907 25,520 54,427 Amounts reclassified from accumulated other comprehensive loss (a) (3,503) 0 (3,503) Other comprehensive income (loss) 25,404 25,520 50,924 Balance at December 31, 2023 $ 79,966 $ (101,037) $ (21,071) (a) The pension plan and other postretirement benefit components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income). See Note 17 for further information.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary Of Significant Accounting Policies [Line Items]
Foreign currency transaction adjustments	$ (4)	$ (4)	$ (6)
Contributions by employer for employee savings plans	$ 7	$ 7	$ 7
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents maturity, days	90 days

Net Sales (Narrative) (Details)

Net Sales (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognized in the Current Period From Funds Collected in Advance from Customers in Earlier Periods	$ 1	$ 1	$ 2
Change in Net Sales Related To Adjustments To Rebates Or Business Development Fund Recognized in Revenue in a Prior Period	5	2	$ 4
Customer rebates	18	28
Business Development Fund	0.3	0.4
Customer Prepayment Current	$ 0.3	$ 1

Net Sales (Schedule of Net Sale

Net Sales (Schedule of Net Sales by Geographical Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 2,698,419	$ 2,764,799	$ 2,356,110
United States
Disaggregation of Revenue [Line Items]
Net sales	972,954	974,963	780,278
China
Disaggregation of Revenue [Line Items]
Net sales	186,181	181,283	255,219
Europe, Middle East, Africa, India
Disaggregation of Revenue [Line Items]
Net sales	791,744	807,782	708,675
Asia Pacific, except China
Disaggregation of Revenue [Line Items]
Net sales	396,790	435,684	325,621
Other foreign
Disaggregation of Revenue [Line Items]
Net sales	$ 350,750	$ 365,087	$ 286,317

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares that were excluded from the calculation of diluted earnings per share (in shares)	34,006	33,055	26,572
Earnings per share numerator:
Net income attributable to common shareholders before allocation of earnings to participating securities	$ 388,864	$ 279,538	$ 190,908
Earnings allocated to participating securities	(1,339)	(876)	(462)
Net income attributable to common shareholders after allocation of earnings to participating securities	$ 387,525	$ 278,662	$ 190,446
Earnings per share denominator:
Weighted Average Number of Shares Outstanding, Basic	9,583,000	10,035,000	10,756,000
Weighted Average Number of Shares Outstanding, Diluted	9,583,000	10,035,000	10,756,000
Earnings Per Share, Basic	$ 40.44	$ 27.77	$ 17.71
Earnings Per Share, Diluted	$ 40.44	$ 27.77	$ 17.71

Segment and Geographic Area I_3

Segment and Geographic Area Information (Schedule Of Net Sales And Operating Profit By Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 2,698,419	$ 2,764,799	$ 2,356,110
Segment operating profit	483,045	355,139	257,782
Corporate, general, and administrative expenses	(151,470)	(145,106)	(145,973)
Interest and financing expenses, net	(37,359)	(35,202)	(34,218)
Loss on early extinguishment of debt	0	(7,545)	0
Other income (expense), net	43,276	35,342	23,987
Income before income tax expense	488,962	347,734	247,551
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment operating profit	509,442	376,462	279,530
Operating Segments [Member] | Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Net sales	2,689,709	2,754,310	2,343,942
Segment operating profit	514,428	378,244	281,055
Operating Segments [Member] | All Other [Member]
Segment Reporting Information [Line Items]
Net sales	8,710	10,489	12,168
Segment operating profit	(4,986)	(1,782)	(1,525)
Operating Segments [Member] | Lubricant additives [Member] | Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Net sales	2,295,440	2,342,622	1,998,772
Operating Segments [Member] | Fuel additives [Member] | Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Net sales	394,269	411,688	345,170
Corporate [Member]
Segment Reporting Information [Line Items]
Corporate, general, and administrative expenses	(26,147)	(21,579)	(21,214)
Interest and financing expenses, net	(37,359)	(35,202)	(34,218)
Loss on early extinguishment of debt	0	(7,545)	0
Other income (expense), net	$ 43,026	$ 35,598	$ 23,453

Segment and Geographic Area I_4

Segment and Geographic Area Information (Schedule Of Asset Information By Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 2,308,871	$ 2,406,818
Cash and cash equivalents	111,936	68,712
Trade and other accounts receivable, net	432,349	453,692
Prepaid expenses and other current assets	39,051	38,338
Property, plant, and equipment, net	654,747	659,998
Prepaid pension cost	370,882	302,584
Deferred charges and other assets	48,207	63,625
Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Total assets	1,728,397	1,929,340
All Other [Member]
Segment Reporting Information [Line Items]
Total assets	10,098	18,738
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,738,495	1,948,078
Corporate [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents	111,936	68,712
Trade and other accounts receivable, net	3,083	2,220
Prepaid expenses and other current assets	39,051	38,338
Property, plant, and equipment, net	31,983	32,191
Prepaid pension cost	370,882	302,584
Lease right-of-use assets	5	26
Deferred charges and other assets	$ 13,436	$ 14,669

Segment and Geographic Area I_5

Segment and Geographic Area Information (Schedule of Additions to Long-lived Assets and Depreciation and Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Additions to long-lived assets	$ 74,057	$ 68,586	$ 135,581
Depreciation and amortization	78,010	82,285	84,320
Operating Segments [Member] | Petroleum Additives [Member]
Segment Reporting Information [Line Items]
Additions to long-lived assets	72,038	64,456	134,873
Depreciation and amortization	74,471	78,744	80,495
Operating Segments [Member] | All Other [Member]
Segment Reporting Information [Line Items]
Additions to long-lived assets	1	147	22
Depreciation and amortization	45	51	51
Corporate [Member]
Segment Reporting Information [Line Items]
Additions to long-lived assets	2,018	3,983	686
Depreciation and amortization	$ 3,494	$ 3,490	$ 3,774

Segment and Geographic Area I_6

Segment and Geographic Area Information (Schedule of Net Sales by Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 2,698,419	$ 2,764,799	$ 2,356,110
Total assets	2,308,871	2,406,818
Long-Lived Assets	760,341	759,308
United States
Segment Reporting Information [Line Items]
Net sales	972,954	974,963	780,278
Total assets	1,016,449	990,037
Long-Lived Assets	376,421	363,211
China
Segment Reporting Information [Line Items]
Net sales	186,181	181,283	255,219
Singapore [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	234,484	247,218
International companies
Segment Reporting Information [Line Items]
Total assets	1,292,422	1,416,781
Europe, Middle East, Africa, India
Segment Reporting Information [Line Items]
Net sales	791,744	807,782	708,675
Asia Pacific, except China
Segment Reporting Information [Line Items]
Net sales	396,790	435,684	325,621
Other foreign
Segment Reporting Information [Line Items]
Net sales	350,750	365,087	$ 286,317
Long-Lived Assets	$ 149,436	$ 148,879

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Schedule Of Cash Flow Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid during the year for
Interest and financing expenses (net of capitalization)	$ 36,644	$ 40,531	$ 30,465
Income taxes	132,928	88,866	67,917
Supplemental disclosure of non-cash transactions
Non-cash additions to property, plant, and equipment	$ 1,788	$ 4,087	$ 4,872

Trade and Other Accounts Rece_3

Trade and Other Accounts Receivable, Net (Schedule Of Trade And Other Accounts Receivable, Net) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade receivables	$ 368,240	$ 384,636
Income and other tax receivables	59,190	60,745
Other	4,919	8,311
Trade and other accounts receivable, net	$ 432,349	$ 453,692

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
U.S. inventories, LIFO basis	$ 123,000	$ 165,000
LIFO inventories amount below replacement cost	94,000	114,000
Inventories	456,234	631,383
International companies
Inventory [Line Items]
Inventories	$ 313,000	$ 451,000

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods and work-in-process	$ 351,746	$ 497,652
Raw materials	82,441	113,484
Stores, supplies, and other	22,047	20,247
Inventories	$ 456,234	$ 631,383

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Schedule Of Prepaid Expenses And Other Current Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Dividend funding	$ 19,212	$ 17,850
Income taxes on intercompany profit	7,054	6,925
Other	12,785	13,563
Prepaid expenses and other current assets	$ 39,051	$ 38,338

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, at Cost (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 56	$ 60	$ 61

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, at Cost (Schedule Of Property, Plant, And Equipment, At Cost) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment, at Cost [Line Items]
Property, Plant and Equipment, Gross	$ 1,646,039	$ 1,596,352
Less: accumulated depreciation and amortization	991,292	936,354
Property, plant, and equipment, net	654,747	659,998
Land [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, Plant and Equipment, Gross	37,225	37,088
Land Improvements
Property, Plant and Equipment, at Cost [Line Items]
Property, Plant and Equipment, Gross	65,064	64,061
Leasehold Improvements [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, Plant and Equipment, Gross	1,842	1,832
Buildings
Property, Plant and Equipment, at Cost [Line Items]
Property, Plant and Equipment, Gross	185,537	183,030
Machinery and Equipment
Property, Plant and Equipment, at Cost [Line Items]
Property, Plant and Equipment, Gross	1,328,808	1,279,425
Construction in Progress [Member]
Property, Plant and Equipment, at Cost [Line Items]
Property, Plant and Equipment, Gross	$ 27,563	$ 30,916

Property, Plant, and Equipmen_5

Property, Plant, and Equipment, at Cost (Schedule Of Useful Lives Of Property, Plant, And Equipment) (Details)	Dec. 31, 2023
Minimum [Member] | Land Improvements
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	3 years
Minimum [Member] | Buildings
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	5 years
Minimum [Member] | Machinery and Equipment
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	1 year
Maximum [Member] | Land Improvements
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	40 years
Maximum [Member] | Buildings
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	46 years
Maximum [Member] | Machinery and Equipment
Property, Plant and Equipment, at Cost [Line Items]
Property, plant, and equipment, useful lives (in years)	30 years

Intangibles (Net of Amortizat_3

Intangibles (Net of Amortization) and Goodwill (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangibles (net of amortization) and Goodwill [Line Items]
Intangibles (net of amortization) and goodwill	$ 124,642,000	$ 126,069,000
Accumulated Goodwill Impairment	0	0
Amortization of Intangible Assets	$ 1,506,000	$ 1,423,000	$ 2,000,000
Customer Bases [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Estimated economic life, in years	20 years

Intangibles (Net of Amortizat_4

Intangibles (Net of Amortization) and Goodwill (Schedule Of Information Related To Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Accumulated Amortization	$ 12,739	$ 11,233
Goodwill, Gross Carrying Amount	123,741	123,662
Amortizing intangible assets and Goodwill, Gross Carrying Amount	137,381	137,302
Aggregate amortization expense	1,506	1,423	$ 2,000
Formulas and Technology [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Gross Carrying Amount	6,200	6,200
Amortizing intangible assets, Accumulated Amortization	6,200	5,683
Contracts [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Gross Carrying Amount	2,000	2,000
Amortizing intangible assets, Accumulated Amortization	2,000	1,200
Customer Bases [Member]
Intangibles (net of amortization) and Goodwill [Line Items]
Amortizing intangible assets, Gross Carrying Amount	5,440	5,440
Amortizing intangible assets, Accumulated Amortization	$ 4,539	$ 4,350

Intangibles (Net of Amortizat_5

Intangibles (Net of Amortization) and Goodwill (Schedule Of Estimated Annual Amortization Expense Related To Intangible Assets) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 190
2025	190
2026	190
2027	190
2028	$ 141

Deferred Charges and Other As_3

Deferred Charges and Other Assets (Schedule Of Deferred Charges And Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Mar. 15, 2022
Deferred Charges and Other Assets [Line Items]
Finance lease right-of-use assets	$ 34,771	$ 36,893
Deferred income tax assets	2,726	3,575
Asbestos insurance receivables	2,883	2,994
Deferred financing costs, net of amortization	611	1,095
Deposit on future leased plant and equipment	0	12,063
Other	7,216	7,005
Deferred charges and other assets	$ 48,207	$ 63,625
4.10% Senior Notes [Member]
Deferred Charges and Other Assets [Line Items]
Senior notes, interest rate			4.10%
2.7% Senior Notes [Member]
Deferred Charges and Other Assets [Line Items]
Senior notes, interest rate	2.70%	2.70%

Accrued Expenses (Schedule Of A

Accrued Expenses (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Employee benefits, payroll, and related taxes	$ 35,800	$ 36,878
Accrued Marketing Costs, Current	18,132	27,752
Interest on long-term debt	8,026	8,710
Taxes other than income and payroll	4,907	3,715
Other	9,681	12,453
Accrued expenses	$ 76,546	$ 89,508

Long-term Debt (Schedule Of Lon

Long-term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term Debt, Noncurrent	$ 643,622	$ 1,003,737
2.7% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes, interest rate	2.70%	2.70%
Long-term Debt, Noncurrent	$ 393,622	$ 392,737
3.78% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes, interest rate	3.78%	3.78%
Long-term Debt, Noncurrent	$ 250,000	$ 250,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt, Noncurrent	$ 0	$ 361,000

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details)		12 Months Ended
	Jan. 22, 2024 USD ($) maximumNumberOfLeverage	Dec. 31, 2023 USD ($) maximumNumberOfLeverage	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 18, 2021 USD ($)	Mar. 05, 2020 USD ($)	Jan. 04, 2017 USD ($)
Debt Instrument [Line Items]
Long-term Debt, Noncurrent		$ 643,622,000	$ 1,003,737,000
Payments of Financing Costs		$ 0	$ 0	$ 3,897,000
2.7% Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount of debt issued						$ 400,000,000
Senior notes, interest rate		2.70%	2.70%
Senior notes issue price						98.763%
Long-term Debt, Noncurrent		$ 393,622,000	$ 392,737,000
Payments of Financing Costs				$ 4,000,000
3.78% Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount of debt issued								$ 250,000,000
Senior notes, interest rate		3.78%	3.78%
Annual principal payments beginning January 4, 2025		$ 50,000,000
Long-term Debt, Noncurrent		$ 250,000,000	$ 250,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Financing costs incurred					$ 2,500,000
Maximum borrowing capacity							$ 900,000,000
Increase in aggregate amount of revolving credit facility allowed							425,000,000
Line of Credit Facility Financing Costs Carried Over					1,200,000
Debt Instrument, Term		5 years
Average interest rate during period		6.20%	3.50%
Long-term Debt, Noncurrent		$ 0	$ 361,000,000
Outstanding letters of credit		2,000,000	2,000,000
Unused portion of revolving credit facility		$ 898,000,000	$ 537,000,000
Payments of Financing Costs					$ 1,300,000
MaximumLeverageRatio | maximumNumberOfLeverage		3.75
Revolving Credit Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 900,000,000
Increase in aggregate amount of revolving credit facility allowed	$ 450,000,000
Debt Instrument, Term	5 years
Long-term Debt, Noncurrent	$ 465,000,000
MaximumLeverageRatio | maximumNumberOfLeverage	3.75
Revolving Credit Facility [Member] | Letters of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity							50,000,000
Revolving Credit Facility [Member] | Letters of Credit [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000,000
Revolving Credit Facility [Member] | Multicurrency Borrowings [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity							500,000,000
Revolving Credit Facility [Member] | Multicurrency Borrowings [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	500,000,000
Revolving Credit Facility [Member] | Swingline Loans [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 20,000,000
Revolving Credit Facility [Member] | Swingline Loans [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	20,000,000
Unsecured Debt | Subsequent Event [Member]
Debt Instrument [Line Items]
Principal amount of debt issued	$ 250,000,000
Debt Instrument, Term	2 years
Long-term Debt, Noncurrent	$ 250,000,000

Other Noncurrent Liabilities (S

Other Noncurrent Liabilities (Schedule Of Other Noncurrent Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities, Noncurrent [Abstract]
Deferred income tax liabilities	$ 58,657	$ 61,993
Employee benefits	61,656	58,974
Finance lease liabilities - noncurrent	19,844	22,433
Environmental remediation	9,601	9,454
Asbestos litigation reserve	5,193	5,354
Deemed repatriation of earnings	2,956	2,956
Other	11,059	8,655
Other noncurrent liabilities	$ 168,966	$ 169,819

Stock-based Compensation (Narra

Stock-based Compensation (Narrative) (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) director $ / shares shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive stock option, exercise period, maximum, in years	10 years
Maximum number of shares, options, SARs, or stock units granted or awarded in calendar year per participant	10,000
MaximumAmountCashIncentiveAwardInCalendarYear | $	$ 2,000,000
Maximum aggregate number of shares of common stock that may be issued under the Plan	250,000
Shares available for grant (in shares)	248,885
Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted (in shares)	10,115
Stock awards weighted average grant date fair value (in dollars per share) | $ / shares	$ 341.93	$ 312.49	$ 392.63
Fair value of shares vested | $	$ 3,000,000	$ 0	$ 0
Compensation expense | $	4,000,000	$ 2,000,000	$ 2,000,000
Unrecognized compensation expense | $	$ 5,000,000
Period for recognition of unrecognized compensation expense, in years	2 years 6 months
Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares, options, SARs, or stock units granted or awarded in calendar year per participant	1,000
Stock awards granted (in shares)	1,115
Number of non-employee directors | director	5

Stock-based Compensation (Sched

Stock-based Compensation (Schedule of Restricted Stock And Restricted Stock Unit Activity) (Details) - Restricted Stock And Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares
Unvested stock awards at January 1,	34,412
Granted	10,115
Vested	(7,441)
Forfeited	(1,668)
Unvested stock awards at December 31,	35,418	34,412
Weighted Average Grant-Date Fair Value
Unvested stock awards at January 1,	$ 390.02
Granted	341.93	$ 312.49	$ 392.63
Vested	416.24
Forfeited	394.62
Unvested stock awards at December 31,	$ 370.56	$ 390.02

Leases Narrative (Details)

Leases Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Lessee Operating Lease Option to Extend Reasonably Certain	$ 16,000
Lease commitments that have not yet commenced	$ 200
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Remaining Lease Term	1 year
Lessee, Finance Lease, Remaining Lease Term	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Remaining Lease Term	47 years
Lessee, Finance Lease, Remaining Lease Term	47 years

Leases Components of Lease Cost

Leases Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 19,242	$ 18,573	$ 18,343
Finance lease cost:
Amortization of assets	2,547	2,771	2,795
Interest on lease liabilities	657	712	517
Short-term lease cost	2,463	6,246	6,607
Variable lease cost	5,539	8,152	6,364
Total lease cost	$ 30,448	$ 36,454	$ 34,626

Leases Supplemental Balance She

Leases Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating leases:
Operating lease right-of-use assets	$ 70,823	$ 62,417
Operating lease liabilities	15,074	15,569
Operating lease liabilities - noncurrent	55,058	46,968
Total operating lease liabilities	70,132	62,537
Finance leases:
Finance lease right-of-use assets	$ 34,771	$ 36,893
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Deferred charges and other assets	Deferred charges and other assets
Finance lease liability - current	$ 2,754	$ 2,706
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance lease liabilities - noncurrent	$ 19,844	$ 22,433
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Total finance lease obligations	$ 22,598	$ 25,139
Weighted average remaining lease term (in years):
Operating leases	12 years	12 years	12 years
Finance leases	14 years	15 years	16 years
Weighted average incremental borrowing rate:
Operating leases	4.07%	3.21%	3.02%
Finance leases	2.92%	2.72%	2.74%

Leases Supplemental Cash Flow a

Leases Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 19,929	$ 18,632	$ 18,296
Operating cash flows from finance leases	656	712	517
Financing cash flows from finance leases	3,087	2,834	2,841
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	25,339	12,333	25,035
Finance leases	$ 425	$ 84	$ 31,612

Leases Maturities of Lease Liab

Leases Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 17,525
2025	15,356
2026	11,273
2027	7,720
2028	5,653
Thereafter	33,591
Total lease payments	91,118
Less: imputed interest	20,986
Total operating lease obligations	70,132	$ 62,537
Finance Leases
2024	3,366
2025	3,333
2026	3,304
2027	3,285
2028	3,270
Thereafter	8,635
Total lease payments	25,193
Less: imputed interest	2,595
Total finance lease obligations	$ 22,598	$ 25,139

Pension Plans and Other Postr_3

Pension Plans and Other Postretirement Benefits (Narrative) (Details)		12 Months Ended
	Jan. 01, 2024	Dec. 31, 2023 USD ($) plans	Dec. 31, 2022 USD ($)	Dec. 31, 2021
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans | plans		4
Defined Benefit Plan, Accumulated Benefit Obligation		$ 320,000,000	$ 296,000,000
Expected long-term rate of return on plan assets		8%	8%	8%
Estimated contributions to defined benefit plans in next fiscal year		$ 3,000,000
Pension Benefits | United States | Expected
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	8%
Pension Benefits | United States | Debt Securities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		3%
Pension Benefits | United States | Debt Securities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		10%
Pension Benefits | United States | Equities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		90%
Pension Benefits | United States | Equities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		97%
Pension Benefits | United States | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments		$ 0
Pension Benefits | United States | Cash and cash equivalents | Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		1%
Pension Benefits | United States | Cash and cash equivalents | Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		5%
Pension Benefits | Foreign Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation		$ 134,000,000	$ 122,000,000
Expected long-term rate of return on plan assets		6.47%	4.59%	4.95%
Estimated contributions to defined benefit plans in next fiscal year		$ 7,000,000
Pension Benefits | Foreign Retirement Plans | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		37%
Pension Benefits | Foreign Retirement Plans | Equities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		39%
Pension Benefits | Foreign Retirement Plans | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		5%
Pension Benefits | Foreign Retirement Plans | Pooled investment funds Diversified growth funds
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage for plan assets		19%
Pension Benefits | UNITED KINGDOM | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments		$ 0
Pension Benefits | CANADA | Pooled Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments		$ 0
Postretirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets		4%	4%	4.50%
Estimated contributions to defined benefit plans in next fiscal year		$ 1,000,000
Postretirement Benefits | United States | Expected
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	4%

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefits (Summary Of Components Of Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits | United States
Net periodic benefit cost (income)
Service cost	$ 10,399	$ 18,935	$ 19,316
Interest cost	18,212	13,478	13,018
Expected return on plan assets	(46,039)	(43,765)	(38,675)
Amortization of prior service cost (credit)	186	271	271
Amortization of actuarial net (gain) loss	(1,598)	1,988	5,708
Net periodic benefit cost (income)	(18,840)	(9,093)	(362)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Actuarial net (gain) loss	(34,997)	(17,083)	(79,688)
Prior service cost (credit)	648	86	(35)
Amortization of actuarial net gain (loss)	1,598	(1,988)	(5,708)
Amortization of prior service (cost) credit	(186)	(271)	(271)
Total recognized in other comprehensive income (loss)	(32,937)	(19,256)	(85,702)
Total recognized in net periodic benefit cost (income) and other comprehensive income (loss)	(51,777)	(28,349)	(86,064)
Pension Benefits | Foreign Retirement Plans
Net periodic benefit cost (income)
Service cost	4,185	8,546	10,260
Interest cost	6,298	4,105	3,305
Expected return on plan assets	(11,841)	(9,827)	(10,659)
Amortization of prior service cost (credit)	138	137	152
Amortization of actuarial net (gain) loss	(24)	630	3,595
Net periodic benefit cost (income)	(1,244)	3,591	6,653
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Actuarial net (gain) loss	(5,143)	(41,108)	(38,259)
Amortization of actuarial net gain (loss)	24	(630)	(3,595)
Amortization of prior service (cost) credit	(138)	(137)	(152)
Total recognized in other comprehensive income (loss)	(5,257)	(41,875)	(42,006)
Total recognized in net periodic benefit cost (income) and other comprehensive income (loss)	(6,501)	(38,284)	(35,353)
Postretirement Benefits | United States
Net periodic benefit cost (income)
Service cost	520	1,093	1,079
Interest cost	1,582	1,163	1,158
Expected return on plan assets	(781)	(790)	(907)
Amortization of prior service cost (credit)	(3,028)	(3,028)	(3,028)
Amortization of actuarial net (gain) loss	(275)	51	36
Net periodic benefit cost (income)	(1,982)	(1,511)	(1,662)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Actuarial net (gain) loss	918	(12,445)	(257)
Prior service cost (credit)	0	0	0
Amortization of actuarial net gain (loss)	275	(51)	(36)
Amortization of prior service (cost) credit	3,028	3,028	3,028
Total recognized in other comprehensive income (loss)	4,221	(9,468)	2,735
Total recognized in net periodic benefit cost (income) and other comprehensive income (loss)	$ 2,239	$ (10,979)	$ 1,073

Pension Plans and Other Postr_5

Pension Plans and Other Postretirement Benefits (Changes In The Plans' Benefit Obligations And Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	$ 370,882	$ 302,584
Pension Benefits | United States
Change in benefit obligation
Benefit obligation at beginning of year	330,372	478,809
Service cost	10,399	18,935	$ 19,316
Interest cost	18,212	13,478	13,018
Actuarial net (gain) loss	12,039	(166,409)
Plan amendment	648	86
Benefits paid	(15,757)	(14,527)
Benefit obligation at end of year	355,913	330,372	478,809
Change in plan assets
Fair value of plan assets at beginning of year	545,540	663,193
Actual return on plan assets	93,075	(105,560)
Employer contributions	2,401	2,434
Defined Benefit Plan, Plan Assets, Benefits Paid	(15,757)	(14,527)
Fair value of plan assets at end of year	625,259	545,540	663,193
Funded status	269,346	215,168
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	298,925	244,210
Current liabilities	(2,865)	(2,834)
Noncurrent liabilities	(26,714)	(26,208)
Amounts recognized in the Consolidated Balance Sheets	269,346	215,168
Amounts recognized in accumulated other comprehensive loss
Actuarial net (gain) loss	(74,212)	(40,813)
Prior service cost (credit)	607	145
Amounts recognized in accumulated other comprehensive loss	(73,605)	(40,668)
Pension Benefits | Foreign Retirement Plans
Change in benefit obligation
Benefit obligation at beginning of year	135,800	235,347
Service cost	4,185	8,546	10,260
Interest cost	6,298	4,105	3,305
Employee contributions	673	693
Actuarial net (gain) loss	(577)	(87,076)
Benefits paid	(5,560)	(5,403)
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits	(2,510)	0
Foreign currency translation	7,399	(20,412)
Benefit obligation at end of year	145,708	135,800	235,347
Change in plan assets
Fair value of plan assets at beginning of year	174,548	230,389
Actual return on plan assets	16,326	(34,748)
Employer contributions	6,778	5,981
Employee contributions	673	693
Defined Benefit Plan, Plan Assets, Benefits Paid	(5,560)	(5,403)
Defined Benefit Plan, Plan Assets, Payment for Settlement	(2,510)	0
Foreign currency translation	10,048	(22,364)
Fair value of plan assets at end of year	200,303	174,548	230,389
Funded status	54,595	38,748
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	71,957	58,374
Current liabilities	(354)	(321)
Noncurrent liabilities	(17,008)	(19,305)
Amounts recognized in the Consolidated Balance Sheets	54,595	38,748
Amounts recognized in accumulated other comprehensive loss
Actuarial net (gain) loss	(3,413)	1,706
Prior service cost (credit)	394	532
Amounts recognized in accumulated other comprehensive loss	(3,019)	2,238
Postretirement Benefits | United States
Change in benefit obligation
Benefit obligation at beginning of year	28,914	41,348
Service cost	520	1,093	1,079
Interest cost	1,582	1,163	1,158
Actuarial net (gain) loss	1,204	(12,064)
Plan amendment	0	0
Benefits paid	(2,388)	(2,626)
Benefit obligation at end of year	29,832	28,914	41,348
Change in plan assets
Fair value of plan assets at beginning of year	20,734	20,972
Actual return on plan assets	1,067	1,171
Employer contributions	962	1,217
Defined Benefit Plan, Plan Assets, Benefits Paid	(2,388)	(2,626)
Fair value of plan assets at end of year	20,375	20,734	$ 20,972
Funded status	(9,457)	(8,180)
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	0	0
Current liabilities	(1,109)	(1,086)
Noncurrent liabilities	(8,348)	(7,094)
Amounts recognized in the Consolidated Balance Sheets	(9,457)	(8,180)
Amounts recognized in accumulated other comprehensive loss
Actuarial net (gain) loss	(6,618)	(7,811)
Prior service cost (credit)	(10,533)	(13,561)
Amounts recognized in accumulated other comprehensive loss	$ (17,151)	$ (21,372)

Pension Plans and Other Postr_6

Pension Plans and Other Postretirement Benefits (Pension Plans With The Benefit Obligation In Excess Of Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits | United States
Defined benefit plans with accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	$ 29,407	$ 28,838
Fair market value of plan assets	0	0
Pension plans with project benefit obligation in excess of the fair market value of plan assets
Projected benefit obligation	29,579	29,042
Fair market value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans
Defined benefit plans with accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	22,762	22,625
Fair market value of plan assets	13,420	13,072
Pension plans with project benefit obligation in excess of the fair market value of plan assets
Projected benefit obligation	30,783	32,699
Fair market value of plan assets	13,420	13,072
Postretirement Benefits | United States
Defined benefit plans with accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	18,372	17,782
Fair market value of plan assets	$ 0	$ 0

Pension Plans and Other Postr_7

Pension Plans and Other Postretirement Benefits (Assumptions To Calculate The Results Of Our Retirement Plans) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits | United States
Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31,
Discount rate	5.625%	2.875%	2.875%
Expected long-term rate of return on plan assets	8%	8%	8%
Rate of projected compensation increase	3.50%	3.50%	3.50%
Weighted-average assumptions used to determine benefit obligations at December 31,
Discount rate	5.375%	5.625%	2.875%
Rate of projected compensation increase	3.50%	3.50%	3.50%
Pension Benefits | Foreign Retirement Plans
Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31,
Discount rate	4.61%	1.91%	1.14%
Expected long-term rate of return on plan assets	6.47%	4.59%	4.95%
Rate of projected compensation increase	3.55%	4.07%	3.94%
Weighted-average assumptions used to determine benefit obligations at December 31,
Discount rate	4.60%	4.61%	1.91%
Rate of projected compensation increase	3.52%	3.55%	4.07%
Postretirement Benefits | United States
Weighted-average assumptions used to determine net periodic benefit cost (income) for years ended December 31,
Discount rate	5.625%	2.875%	2.875%
Expected long-term rate of return on plan assets	4%	4%	4.50%
Weighted-average assumptions used to determine benefit obligations at December 31,
Discount rate	5.375%	5.625%	2.875%

Pension Plans and Other Postr_8

Pension Plans and Other Postretirement Benefits (Fair Value Of The Pension And Postretirement Benefit Plans Assets By Asset Category) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 625,259	$ 545,540	$ 663,193
Pension Benefits | United States | Fair Value | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	493,126	417,687
Pension Benefits | United States | Fair Value | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,970	19,022
Pension Benefits | United States | Fair Value | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,956	18,979
Pension Benefits | United States | Fair Value | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	27,108	29,838
Pension Benefits | United States | Fair Value | Equities-mutual fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	74,099	0
Pension Benefits | United States | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	625,259	485,526
Pension Benefits | United States | Level 1 | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	493,126	417,687
Pension Benefits | United States | Level 1 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,970	19,022
Pension Benefits | United States | Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,956	18,979
Pension Benefits | United States | Level 1 | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	27,108	29,838
Pension Benefits | United States | Level 1 | Equities-mutual fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	74,099	0
Pension Benefits | United States | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 2 | Equities-mutual fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Equity securities U.S. Companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Pooled investment funds Fixed Income Securities - Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 3 | Equities-mutual fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Common collective trusts measured at net asset value | Pooled Investment Funds Common Collective Trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	60,014
Pension Benefits | Foreign Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	200,303	174,548	230,389
Pension Benefits | Foreign Retirement Plans | Fair Value | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	45	492
Pension Benefits | Foreign Retirement Plans | Fair Value | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,187	384
Pension Benefits | Foreign Retirement Plans | Fair Value | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,956	11,199
Pension Benefits | Foreign Retirement Plans | Fair Value | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	273	734
Pension Benefits | Foreign Retirement Plans | Fair Value | Mutual Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,763	647
Pension Benefits | Foreign Retirement Plans | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,268	2,257
Pension Benefits | Foreign Retirement Plans | Level 1 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	45	492
Pension Benefits | Foreign Retirement Plans | Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,187	384
Pension Benefits | Foreign Retirement Plans | Level 1 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 1 | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	273	734
Pension Benefits | Foreign Retirement Plans | Level 1 | Mutual Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,763	647
Pension Benefits | Foreign Retirement Plans | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,956	11,199
Pension Benefits | Foreign Retirement Plans | Level 2 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 2 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,956	11,199
Pension Benefits | Foreign Retirement Plans | Level 2 | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 2 | Mutual Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Equity securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Level 3 | Mutual Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Foreign Retirement Plans | Common collective trusts measured at net asset value | Pooled investment funds Equity Securities International companies
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	92,853	76,177
Pension Benefits | Foreign Retirement Plans | Common collective trusts measured at net asset value | Pooled investment funds Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	52,682	49,494
Pension Benefits | Foreign Retirement Plans | Common collective trusts measured at net asset value | Pooled investment funds Diversified growth funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	40,544	35,421
Postretirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,375	20,734	$ 20,972
Postretirement Benefits | United States | Fair Value | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,375	20,734
Postretirement Benefits | United States | Level 1 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Postretirement Benefits | United States | Level 2 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,375	20,734
Postretirement Benefits | United States | Level 3 | Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

Pension Plans and Other Postr_9

Pension Plans and Other Postretirement Benefits (Expected Benefit Payments) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
2024	$ 16,760
2025	17,749
2026	18,631
2027	19,599
2028	20,583
2029 through 2033	117,705
Pension Benefits | Foreign Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
2024	7,117
2025	5,593
2026	6,013
2027	6,640
2028	7,732
2029 through 2033	41,544
Postretirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
2024	2,284
2025	2,143
2026	2,032
2027	1,938
2028	1,871
2029 through 2033	$ 9,181

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Deferred Tax Assets, Foreign Operating And Foreign Capital Loss Carryforwards, Foreign And State Credits	$ 15,952	$ 15,336
Deferred Tax Assets, Valuation Allowance	13,437	$ 13,012
Temporary Differences Related To Investments in Foreign Subsidiaries Considered Permanent	$ 74,000
Minimum [Member]
Income Tax Contingency [Line Items]
Foreign and United States jurisdictions, period of statutes of limitations, years	3 years
Maximum [Member]
Income Tax Contingency [Line Items]
Foreign and United States jurisdictions, period of statutes of limitations, years	5 years

Income Taxes (Schedule Of Incom

Income Taxes (Schedule Of Income Before Income Tax Expense and Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income before income tax expense
Domestic	$ 301,152	$ 170,785	$ 97,245
Foreign	187,810	176,949	150,306
Income before income tax expense	488,962	347,734	247,551
Current income taxes
Federal	61,693	57,778	13,166
State	16,616	12,515	7,639
Foreign	36,539	40,548	33,860
Current income taxes	114,848	110,841	54,665
Deferred income taxes
Federal	(16,384)	(34,088)	1,232
State	(697)	(8,491)	38
Foreign	2,331	(66)	708
Deferred income taxes	(14,750)	(42,645)	1,978
Total income tax expense	$ 100,098	$ 68,196	$ 56,643

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of U.S. Federal Statutory Rate To Effective Income Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21%	21%	21%
State taxes, net of federal tax	2.60%	0.90%	2.40%
Foreign operations	0.50%	1.40%	2.40%
Research tax credit	(1.40%)	(1.60%)	(2.20%)
Foreign-derived intangible tax benefit	(2.00%)	(3.00%)	(0.70%)
Taxes applicable to prior years	(1.40%)	(0.10%)	(0.40%)
Other items and adjustments	1.20%	1%	0.40%
Effective income tax rate	20.50%	19.60%	22.90%

Income Taxes (Deferred Income T

Income Taxes (Deferred Income Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred income tax assets
Capitalized research expenses	$ 81,730	$ 53,249
Leasing liabilities	14,511	11,868
Operating loss and credit carryforwards	15,952	15,336
Foreign currency translation adjustments	4,567	5,261
Other	12,100	14,159
Gross deferred income tax assets	128,860	99,873
Valuation allowance	(13,437)	(13,012)
Total deferred income tax assets	115,423	86,861
Deferred income tax liabilities
Depreciation and amortization	81,767	78,058
Future employee benefits	71,822	52,446
Leasing assets	14,965	12,174
Other	2,800	2,601
Total deferred income tax liabilities	171,354	145,279
Net deferred income tax (liabilities) assets	$ (55,931)	$ (58,418)

Income Taxes (Schedule of Recon

Income Taxes (Schedule of Reconciliation Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 7,879	$ 6,374	$ 6,905
Increases for tax positions of prior years	1,374	1,677	0
Increases for tax positions of the current year	1,543	809	698
Settlements	(1,078)	0	(247)
Lapses of statutes	(1,337)	(981)	(982)
Balance at end of year	$ 8,381	$ 7,879	$ 6,374

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Measurements [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 111,936	$ 68,712
Reported Value Measurement [Member]
Fair Value Measurements [Line Items]
Cash and Cash Equivalents, at Carrying Value	112,000	69,000
Level 1 | Estimate of Fair Value Measurement [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	$ 112,000	$ 69,000

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt, Carrying Amount	$ 643,622	$ 1,003,737
Level 2
Debt Instrument [Line Items]
Long-term debt, Fair Value	$ 572,983	$ 906,891

Commitments and Contingencies_2

Commitments and Contingencies (Contractual Commitments and Purchase Obligations) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Construction of Assets and Purchases of Property and Equipment [Member]
Contractual Commitments And Contingencies [Line Items]
Contractual purchase obligations	$ 13,000
Period of obligations for construction of assets and purchases of property and equipment	5 years
Inventories [Member]
Purchase Obligations [Abstract]
2024	$ 12,535
2025	12,045
2026	10,662
2027	10,620
2028	2,589
After 2028	$ 4,507

Commitments and Contingencies_3

Commitments and Contingencies (Litigation) (Details) - Asbestos Claims - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Site Contingency [Line Items]
Asbestos litigation reserve	$ 7	$ 7
Insurance Settlements Receivable	$ 4	$ 4

Commitments and Contingencies_4

Commitments and Contingencies (Environmental) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	$ 11,000	$ 10,000
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accrued expenses, Other noncurrent liabilities	Accrued expenses, Other noncurrent liabilities
Former TEL Plant Site Louisiana and Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	$ 9,000	$ 8,000
Accrual for environmental remediation, dismantling, and decontamination, undiscounted	11,000	10,000
Former TEL Plant Site Louisiana [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	4,000	3,000
Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	$ 4,000	$ 4,000
Minimum [Member] | Former TEL Plant Site Louisiana and Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Discount rate	3%	3%
Maximum [Member] | Former TEL Plant Site Louisiana and Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Discount rate	9%	9%

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Pension Plans and Other Postretirement Benefits, Beginning Balance	$ 54,562	$ 1,522	$ (92,771)
Foreign Currency Translation Adjustments, Beginning Balance	(126,557)	(83,749)	(80,393)
Accumulated Other Comprehensive (Loss) Income, Beginning Balance	(71,995)	(82,227)	(173,164)
Other comprehensive income (loss) before reclassifications, Pension Plans and Other Postretirement Benefits	28,907	53,019	89,194
Other comprehensive income (loss) before reclassifications, Foreign Currency Translation Adjustments	25,520	(42,808)	(3,356)
Other comprehensive income (loss) before reclassifications, Accumulated Other Comprehensive (Loss) Income	54,427	10,211	85,838
Amounts reclassified from accumulated other comprehensive loss, Pension Plans and Other Postretirement Benefits	(3,503)	21	5,099
Amounts reclassified from accumulated other comprehensive loss, Foreign Currency Translation Adjustments	0	0	0
Amounts reclassified from accumulated other comprehensive loss, Accumulated Other Comprehensive (Loss) Income	(3,503)	21	5,099
Total pension plans and other postretirement benefits	25,404	53,040	94,293
Foreign Currency Translation Adjustments, Other comprehensive income (loss)	25,520	(42,808)	(3,356)
Other comprehensive income (loss)	50,924	10,232	90,937
Pension Plans and Other Postretirement Benefits, Ending Balance	79,966	54,562	1,522
Foreign Currency Translation Adjustments, Ending Balance	(101,037)	(126,557)	(83,749)
Accumulated Other Comprehensive (Loss) Income, Ending Balance	$ (21,071)	$ (71,995)	$ (82,227)

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details)			12 Months Ended
	Jan. 22, 2024 USD ($) maximumNumberOfLeverage	Jan. 16, 2024 USD ($)	Dec. 31, 2023 USD ($) maximumNumberOfLeverage	Dec. 31, 2022 USD ($)	Mar. 05, 2020 USD ($)
Subsequent Event [Line Items}
Long-Term Debt, Excluding Current Maturities			$ 643,622,000	$ 1,003,737,000
Revolving Credit Facility [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity					$ 900,000,000
Increase in aggregate amount of revolving credit facility allowed					425,000,000
MaximumLeverageRatio | maximumNumberOfLeverage			3.75
Long-Term Debt, Excluding Current Maturities			$ 0	$ 361,000,000
Revolving Credit Facility [Member] | Multicurrency Borrowings [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity					500,000,000
Revolving Credit Facility [Member] | Swingline Loans [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity					20,000,000
Revolving Credit Facility [Member] | Letters of Credit [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity					$ 50,000,000
Subsequent Event [Member] | AMPAC [Member]
Subsequent Event [Line Items}
Payments to Acquire Businesses, Gross		$ 700,000,000
Subsequent Event [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity	$ 900,000,000
Increase in aggregate amount of revolving credit facility allowed	$ 450,000,000
MaximumLeverageRatio | maximumNumberOfLeverage	3.75
Long-Term Debt, Excluding Current Maturities	$ 465,000,000
Subsequent Event [Member] | Revolving Credit Facility [Member] | Multicurrency Borrowings [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity	500,000,000
Subsequent Event [Member] | Revolving Credit Facility [Member] | Swingline Loans [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity	20,000,000
Subsequent Event [Member] | Revolving Credit Facility [Member] | Letters of Credit [Member]
Subsequent Event [Line Items}
Maximum borrowing capacity	25,000,000
Subsequent Event [Member] | Unsecured Debt
Subsequent Event [Line Items}
Principal amount of debt issued	250,000,000
Long-Term Debt, Excluding Current Maturities	$ 250,000,000