NewMarket (NEU) 10-Q 24 Oct 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Business Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	9,595,011

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 724,947	$ 667,150	$ 2,131,911	$ 2,055,069
Cost of goods sold	481,107	465,445	1,453,251	1,459,682
Gross profit	243,840	201,705	678,660	595,387
Selling, general, and administrative expenses	42,124	37,386	129,329	114,671
Research, development, and testing expenses	32,193	31,894	92,056	99,008
Operating profit	169,523	132,425	457,275	381,708
Interest and financing expenses, net	14,157	9,221	45,721	30,249
Other income (expense), net	13,805	11,278	38,304	32,881
Income before income tax expense	169,171	134,482	449,858	384,340
Income tax expense	36,849	23,235	98,184	75,886
Net income	$ 132,322	$ 111,247	$ 351,674	$ 308,454
Earnings per share - basic (in dollars per share)	$ 13.79	$ 11.60	$ 36.66	$ 32.05
Earnings per share - diluted (in dollars per share)	13.79	11.60	36.66	32.05
Cash dividends declared per share (in dollars per share)	$ 2.50	$ 2.25	$ 7.50	$ 6.60

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 132,322	$ 111,247	$ 351,674	$ 308,454
Pension plans and other postretirement benefits:
Prior service credit (cost) arising during the period, net of income tax expense (benefit) of $0 in third quarter 2024, $(159) in third quarter 2023, $0 in nine months 2024, and $(159) in nine months 2023	0	(489)	0	(489)
Amortization of prior service cost (credit) included in net periodic benefit cost (income), net of income tax expense (benefit) of $(173) in third quarter 2024, $(141) in third quarter 2023, $(520) in nine months 2024, and $(482) in nine months 2023	(501)	(454)	(1,505)	(1,547)
Actuarial net gain (loss) arising during the period, net of income tax expense (benefit) of $(552) in third quarter 2024, $(239) in third quarter 2023, $(552) in nine months 2024, and $(239) in nine months 2023	(1,600)	(784)	(1,600)	(784)
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), net of income tax expense (benefit) of $(114) in third quarter 2024, $(105) in third quarter 2023, $(358) in nine months 2024, and $(342) in nine months 2023	(331)	(332)	(1,046)	(1,081)
Total pension plans and other postretirement benefits	(2,432)	(2,059)	(4,151)	(3,901)
Foreign currency translation adjustments, net of income tax expense (benefit) of $137 in third quarter 2024, $(327) in third quarter 2023, $(951) in nine months 2024, and $371 in nine months 2023	21,885	(9,966)	10,578	9,114
Other comprehensive income (loss)	19,453	(12,025)	6,427	5,213
Comprehensive income	$ 151,775	$ 99,222	$ 358,101	$ 313,667

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Prior service credit (cost) arising during the period, income tax expense (benefit)	$ 0	$ (159)	$ 0	$ (159)
Amortization of prior service cost (credit) included in net periodic benefit cost (income), income tax expense (benefit)	(173)	(141)	(520)	(482)
Actuarial net gain (loss) arising during the period, income tax expense (benefit)	(552)	(239)	(552)	(239)
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), income tax expense (benefit)	(114)	(105)	(358)	(342)
Foreign currency translation adjustments, income tax expense (benefit)	$ 137	$ (327)	$ (951)	$ 371

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 80,310	$ 111,936
Trade and other accounts receivable, less allowance for credit losses	487,607	432,349
Inventories	534,462	456,234
Prepaid expenses and other current assets	35,250	39,051
Total current assets	1,137,629	1,039,570
Property, plant, and equipment, net	755,409	654,747
Intangibles (net of amortization) and goodwill	757,060	124,642
Prepaid pension cost	390,018	370,882
Operating lease right-of-use assets, net	73,123	70,823
Deferred charges and other assets	53,045	48,207
Total assets	3,166,284	2,308,871
Current liabilities:
Accounts payable	259,434	231,137
Accrued expenses	82,364	76,546
Dividends payable	21,419	19,212
Income taxes payable	17,011	6,131
Operating lease liabilities	15,683	15,074
Other current liabilities	6,042	16,064
Total current liabilities	401,953	364,164
Long-term debt	1,085,006	643,622
Operating lease liabilities-noncurrent	57,617	55,058
Other noncurrent liabilities	257,422	168,966
Total liabilities	1,801,998	1,231,810
Commitments and contingencies (Note 10)
Shareholders’ equity:
Common stock and paid-in capital (with no par value; authorized shares - 80,000,000; issued and outstanding shares - 9,595,011 at September 30, 2024 and 9,590,086 at December 31, 2023)	3,201	2,130
Accumulated other comprehensive loss	(14,644)	(21,071)
Retained earnings	1,375,729	1,096,002
Total shareholders’ equity	1,364,286	1,077,061
Total liabilities and shareholders’ equity	$ 3,166,284	$ 2,308,871

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	9,595,011	9,590,086
Common stock, shares outstanding (in shares)	9,595,011	9,590,086

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, 2022		9,702,147
Balance at Dec. 31, 2022	$ 762,407	$ 0	$ (71,995)	$ 834,402
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	308,454			308,454
Other comprehensive income (loss)	5,213		5,213
Cash dividends	(63,457)			(63,457)
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				(9)
Stock-based compensation (in shares)		9,572
Stock-based compensation	3,438	$ 3,447
Balance (in shares) at Sep. 30, 2023		9,590,151
Balance at Sep. 30, 2023	971,943	$ 1,557	(66,782)	1,037,168
Balance (in shares) at Jun. 30, 2023		9,589,239
Balance at Jun. 30, 2023	892,740	$ 0	(54,757)	947,497
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	111,247			111,247
Other comprehensive income (loss)	(12,025)		(12,025)
Cash dividends	(21,578)			(21,578)
Tax withholdings related to stock-based compensation (in shares)		(76)
Tax withholdings related to stock-based compensation	(33)	$ (33)
Stock-based compensation dividend forfeitures				2
Stock-based compensation Forfeited (in shares)		988
Stock-based compensation	1,592	$ 1,590
Balance (in shares) at Sep. 30, 2023		9,590,151
Balance at Sep. 30, 2023	$ 971,943	$ 1,557	(66,782)	1,037,168
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	351,674			351,674
Other comprehensive income (loss)	6,427		6,427
Cash dividends	(71,959)			(71,959)
Tax withholdings related to stock-based compensation (in shares)		(1,816)
Tax withholdings related to stock-based compensation	(1,118)	$ (1,118)
Stock-based compensation dividend forfeitures				12
Stock-based compensation (in shares)		6,741
Stock-based compensation	$ 2,201	$ 2,189
Balance (in shares) at Sep. 30, 2024	9,595,011	9,595,011
Balance at Sep. 30, 2024	$ 1,364,286	$ 3,201	(14,644)	1,375,729
Balance (in shares) at Jun. 30, 2024		9,594,110
Balance at Jun. 30, 2024	1,235,348	$ 2,052	(34,097)	1,267,393
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	132,322			132,322
Other comprehensive income (loss)	19,453		19,453
Cash dividends	(23,987)			(23,987)
Stock-based compensation dividend forfeitures				1
Stock-based compensation Forfeited (in shares)		901
Stock-based compensation	$ 1,150	$ 1,149
Balance (in shares) at Sep. 30, 2024	9,595,011	9,595,011
Balance at Sep. 30, 2024	$ 1,364,286	$ 3,201	$ (14,644)	$ 1,375,729

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 2.50	$ 2.25	$ 7.50	$ 6.60

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 111,936	$ 68,712
Cash flows from operating activities:
Net income	351,674	308,454
Adjustments to reconcile net income to cash provided from operating activities:
Depreciation and amortization	84,894	57,665
Deferred income tax benefit	(10,468)	(16,336)
Working capital changes	(81,866)	71,900
Cash pension and postretirement contributions	(8,940)	(7,132)
Other, net	(939)	(9,335)
Cash provided from (used in) operating activities	334,355	405,216
Cash flows from investing activities:
Capital expenditures	(42,700)	(34,793)
Acquisition of business (net of $15,588 of cash acquired)	(681,479)	0
Cash provided from (used in) investing activities	(724,179)	(34,793)
Cash flows from financing activities:
Net borrowings (repayments) under revolving credit facility	191,000	(225,000)
Proceeds from term loan	250,000	0
Dividends paid	(71,959)	(63,457)
Debt issuance costs	(2,251)	0
Repurchases of common stock	0	(42,864)
Other, net	(9,758)	(4,219)
Cash provided from (used in) financing activities	357,032	(335,540)
Effect of foreign exchange on cash and cash equivalents	1,166	(1,035)
(Decrease) increase in cash and cash equivalents	(31,626)	33,848
Cash and cash equivalents at end of period	$ 80,310	$ 102,560

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Statement of Cash Flows [Abstract]
Cash Acquired from Acquisition	$ 15,588

Financial Statement Presentatio

Financial Statement Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Presentation	Financial Statement Presentation In the opinion of management, the accompanying consolidated financial statements of NewMarket Corporation and its subsidiaries contain all necessary adjustments for the fair presentation of, in all material respects, our consolidated financial position as of September 30, 2024 and December 31, 2023, our consolidated results of operations, comprehensive income, and changes in shareholders' equity for the third quarter and nine months ended September 30, 2024 and September 30, 2023, and our cash flows for the nine months ended September 30, 2024 and September 30, 2023. All adjustments are of a normal, recurring nature, unless otherwise disclosed. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in the NewMarket Corporation Annual Report on Form 10-K for the year ended December 31, 2023 (2023 Annual Report), as filed with the Securities and Exchange Commission (SEC). The results of operations for the nine month period ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. The December 31, 2023 condensed consolidated balance sheet data was derived from the audited financial statements included in the 2023 Annual Report but does not include all disclosures required by accounting principles generally accepted in the United States of America. Unless the context otherwise indicates, all references to “we,” “us,” “our,” the “company,” and “NewMarket” are to NewMarket Corporation and its consolidated subsidiaries. Supplier Finance Program
Supplier Finance Program	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 any arrangement between our vendors 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.

Acquisition of Business

Acquisition of Business	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	Acquisition of Business On January 16, 2024, we completed the acquisition of all issued and outstanding ownership units of AMPAC Intermediate Holdings, LLC, the ultimate parent company of American Pacific Corporation (AMPAC), for approximately $697 million. Based in Cedar City, Utah, AMPAC has one operating facility from which it manufactures and sells critical specialty materials primarily used in solid rocket motors for space launch and military defense applications. AMPAC is qualified on many NASA and Department of Defense programs and has been serving space launch and national defense programs for more than 60 years. The acquisition of AMPAC expands our presence in mission-critical, resilient sectors. It was funded by cash on hand and borrowings under our then existing revolving credit facility. The purchase consideration was subject to a customary post-closing adjustment for working capital, which was finalized during the second quarter of 2024. The preliminary fair values of the assets acquired and the liabilities assumed in the AMPAC acquisition are as follows (in millions): Cash and cash equivalents $ 16 Trade and other accounts receivable, net 6 Inventories 25 Prepaid expenses and other current assets 3 Property, plant, and equipment, net 111 Intangibles and goodwill 650 Deferred charges and other assets 5 Accounts payable (3) Accrued expenses (5) Other noncurrent liabilities (111) Fair value of net assets acquired $ 697 Identified intangible assets acquired consisted of the following (in millions): Fair Value Estimated Useful Lives (in years) Customer base $ 275 17.5 Formulas and technology 60 8 Trademarks and trade names 30 15 Water rights 29 indefinite $ 394 As part of the acquisition, we recorded $256 million of goodwill. The goodwill recognized is attributable to increased access to mission-critical, resilient sectors with a role in global safety, security, and space exploration, as well as the value of the skilled assembled workforce of AMPAC. All of the goodwill recognized is part of the specialty materials segment, and none of the goodwill is deductible for income tax purposes. The allocation of the purchase price of AMPAC to the tangible and intangible assets acquired and liabilities assumed was developed using preliminary estimates of fair value and based on information currently available. We are continuing to finalize the valuation of certain assets and liabilities and expect to complete our valuations within one year of the date of acquisition. Acquisition-related charges of $1 million consisted primarily of legal and professional fees and are included in selling, general, and administrative expenses in our Consolidated Statements of Income for the nine months ended September 30, 2024. We are accounting for this acquisition using the acquisition method of accounting for business combinations under the provisions of Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 805, Business Combinations (ASC 805) and have included the results of operations of the acquired business in our Consolidated Statement of Income from the date of acquisition, as well as in the specialty materials segment in Note 4. These results include a charge related to the sale of finished goods inventory acquired, which was recorded at fair value on the acquisition date and sold to customers from the date of acquisition through September 30, 2024. The following table presents the financial results in thousands for AMPAC from the date of acquisition through September 30, 2024 and for the third quarter ended September 30, 2024. AMPAC Third January 16 to September 30, 2024 Net sales $ 59,094 $ 114,151 Income before income tax expense 16,274 16,196 The following table presents our estimated unaudited pro forma consolidated results for the third quarter and nine months ended September 30, 2024 and September 30, 2023, assuming the acquisition of AMPAC had occurred on January 1, 2023. The unaudited pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been realized if the acquisition had been completed at the beginning of 2023, nor is it indicative of expected results for any future period. In addition, no effect is given to any future synergistic benefits that could result from the integration of AMPAC into NewMarket. Unaudited pro forma information for the third quarter and nine months ended September 30, 2024 and September 30, 2023 includes adjustments to depreciation and amortization based upon the fair value allocation of the purchase price to AMPAC's tangible and intangible assets acquired and liabilities assumed as though the acquisition had occurred on January 1, 2023, as well as adjustments for debt-related costs and management fees. The acquisition-related costs and the charge related to the fair value adjustment to acquisition-date inventory were recognized in actual results during the third quarter and nine months ended September 30, 2024, but for the presentation below, these costs are excluded from 2024 unaudited pro forma income before income taxes and are instead reflected in 2023 pro forma income before income taxes as though they were incurred during the third quarter and nine months ended September 30, 2023. Pro Forma Supplemental Information (unaudited) (in thousands) Third Quarter Ended Nine Months Ended Consolidated 2024 2023 2024 2023 Net sales $ 724,947 $ 734,100 $ 2,137,011 $ 2,160,279 Income before income tax expense 172,013 151,040 456,988 370,186

Net Sales

Net Sales	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Net Sales	Net Sales Our revenues are predominantly derived from the manufacture and sale of petroleum additives products. We sell petroleum additives products across the world to customers located in the North America (the United States and Canada), Latin America (Mexico, Central America, and South America), Asia Pacific, and EMEAI (Europe/Middle East/Africa/India) regions. Our petroleum additives customers primarily consist of global, national, and independent oil companies. Our petroleum additives contracts generally include one performance obligation, which is satisfied at a point in time when products are shipped, delivered, or consumed by the customer, depending on the underlying contracts. Additionally, we have revenue from the manufacture and sale of critical specialty materials products used primarily in solid rocket motors for space launch and military defense applications. The sale of specialty materials products is predominantly to customers located in the United States, with limited amounts to customers in other countries. Our specialty materials customers are primarily contractors or subcontractors of the U.S. government. Specialty materials contracts generally include one performance obligation, which is typically satisfied at a point in time when the products are shipped from the plant site. 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. Some of our contracts also include variable consideration in the form of rebates, tiered pricing, and/or business development funds. We regularly review these and make adjustments when necessary, recognizing the full amount of any adjustment in the period identified. The following table provides information on our net sales by geographic area. Information on net sales by segment is presented in Note 4. Third Quarter Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Net sales United States $ 305,382 $ 246,462 $ 827,101 $ 745,470 Europe, Middle East, Africa, India 201,538 200,843 612,828 607,913 Asia Pacific 136,691 129,717 441,793 433,905 Other foreign 81,336 90,128 250,189 267,781 Net sales $ 724,947 $ 667,150 $ 2,131,911 $ 2,055,069

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment 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 Corporation (Ethyl). Net Sales by Segment Third Quarter Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Petroleum additives Lubricant additives $ 568,450 $ 562,692 $ 1,715,559 $ 1,753,772 Fuel additives 94,564 101,027 294,545 293,907 Total 663,014 663,719 2,010,104 2,047,679 Specialty materials 59,094 0 114,151 0 All other 2,839 3,431 7,656 7,390 Net sales $ 724,947 $ 667,150 $ 2,131,911 $ 2,055,069 Segment Operating Profit Third Quarter Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Petroleum additives $ 157,468 $ 139,820 $ 456,196 $ 404,026 Specialty materials 15,962 0 15,967 0 All other (93) (764) (1,548) (2,761) Segment operating profit 173,337 139,056 470,615 401,265 Corporate, general, and administrative expenses (3,953) (6,389) (13,495) (19,690) Interest and financing expenses, net (14,157) (9,221) (45,721) (30,249) Other income (expense), net 13,944 11,036 38,459 33,014 Income before income tax expense $ 169,171 $ 134,482 $ 449,858 $ 384,340

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits The table below shows cash contributions made during the nine months ended September 30, 2024, as well as the remaining cash contributions we expect to make during the year ending December 31, 2024, for our domestic and foreign pension plans and domestic postretirement benefit plan. (in thousands) Actual Cash Contributions for Nine Months Ended Expected Remaining Cash Contributions for Year Ending Domestic plans Pension benefits $ 4,121 $ 770 Postretirement benefits 1,025 342 Foreign plans Pension benefits 3,794 1,479 The tables below present information on net periodic benefit cost (income) for our domestic and foreign pension plans and domestic postretirement benefit plan. The service cost component of net periodic benefit cost (income) is reflected in cost of goods sold; selling, general, and administrative expenses; or research, development, and testing expenses, according to 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. Domestic Pension Benefits Postretirement Benefits Third Quarter Ended September 30, (in thousands) 2024 2023 2024 2023 Service cost $ 3,177 $ 2,482 $ 216 $ 130 Interest cost 5,997 4,587 372 404 Expected return on plan assets (14,030) (11,510) (191) (182) Amortization of prior service cost (credit) 47 127 (757) (757) Amortization of actuarial net (gain) loss (367) (376) (71) (55) Net periodic benefit cost (income) $ (5,176) $ (4,690) $ (431) $ (460) Domestic Pension Benefits Postretirement Benefits Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Service cost $ 9,255 $ 7,799 $ 485 $ 390 Interest cost 17,646 13,659 1,208 1,186 Expected return on plan assets (41,295) (34,529) (576) (585) Amortization of prior service cost (credit) 140 139 (2,271) (2,271) Amortization of actuarial net (gain) loss (1,282) (1,199) (102) (206) Net periodic benefit cost (income) $ (15,536) $ (14,131) $ (1,256) $ (1,486) Foreign Pension Benefits Third Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Service cost $ 1,084 $ 1,094 $ 3,246 $ 3,222 Interest cost 1,625 1,615 4,851 4,736 Expected return on plan assets (3,371) (2,973) (10,020) (8,713) Amortization of prior service cost (credit) 35 36 105 104 Amortization of actuarial net (gain) loss (5) (6) (18) (18) Net periodic benefit cost (income) $ (632) $ (234) $ (1,836) $ (669)

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We had 34,474 shares of nonvested restricted stock at September 30, 2024 and 34,071 shares of nonvested restricted stock at September 30, 2023 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. Third Quarter Ended September 30, Nine Months Ended (in thousands, except per-share amounts) 2024 2023 2024 2023 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 132,322 $ 111,247 $ 351,674 $ 308,454 Earnings allocated to participating securities (474) (393) (1,247) (1,055) Net income attributable to common shareholders after allocation of earnings to participating securities $ 131,848 $ 110,854 $ 350,427 $ 307,399 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 9,561 9,556 9,559 9,592 Earnings per share - basic and diluted $ 13.79 $ 11.60 $ 36.66 $ 32.05

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories (in thousands) September 30, December 31, Finished goods and work-in-process $ 424,609 $ 351,746 Raw materials 85,100 82,441 Stores, supplies, and other 24,753 22,047 $ 534,462 $ 456,234

Intangibles (Net of Amortizatio

Intangibles (Net of Amortization) and Goodwill	9 Months Ended
	Sep. 30, 2024
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 $757 million at September 30, 2024 and $125 million at December 31, 2023. The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. September 30, 2024 December 31, 2023 (in thousands) Gross Accumulated Gross Accumulated Amortizing intangible assets Formulas and technology $ 60,000 $ 5,345 $ 6,200 $ 6,200 Contract 0 0 2,000 2,000 Customer bases 280,440 15,880 5,440 4,539 Trademarks and trade names 30,000 1,425 0 0 Water rights 29,392 0 Goodwill 379,878 123,741 $ 779,710 $ 22,650 $ 137,381 $ 12,739 Of the total intangibles (net of amortization) and goodwill, $125 million is attributable to the petroleum additives segment and $632 million is attributable to the specialty materials segment. The change in the gross carrying amount between December 31, 2023 and September 30, 2024 is due to the identifiable intangible assets and goodwill from the acquisition of AMPAC, as well as the write-off of fully amortized identifiable intangible assets and the foreign currency fluctuation on goodwill in the petroleum additives segment. See Note 2 for further information on the intangibles and goodwill obtained with the AMPAC acquisition. There is no accumulated goodwill impairment. Amortization expense was (in thousands): Third quarter ended September 30, 2024 $ 6,351 Nine months ended September 30, 2024 18,111 Third quarter ended September 30, 2023 748 Nine months ended September 30, 2023 1,459 Estimated amortization expense for the remainder of 2024, as well as estimated annual amortization expense related to our intangible assets for the next five years, is expected to be (in thousands): 2024 $ 6,343 2025 25,404 2026 25,404 2027 25,404 2028 25,355 2029 25,214 We amortize the formulas and technology over 8 years, the customer bases over 17.5 to 20 years, and the trademarks and trade names over 15 years.

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt (in thousands) September 30, December 31, Senior notes - 2.70% due 2031 (net of related deferred financing costs) $ 394,285 $ 393,622 Senior notes - 3.78% due 2029 250,000 250,000 Term loan (net of related deferred financing costs) 249,721 0 Revolving credit facility 191,000 0 $ 1,085,006 $ 643,622 Senior Notes - The 2.70% senior notes, which were issued in 2021, are unsecured with an aggregate principal amount of $400 million. The offer and sale of the notes were registered under the Securities Act of 1933, as amended. The 3.78% senior notes are unsecured and were issued in a 2017 private placement with The Prudential Insurance Company of America and certain other purchasers. We were in compliance with all covenants under all issuances of senior notes as of September 30, 2024 and December 31, 2023. Term Loan - On January 22, 2024, NewMarket entered into an unsecured credit agreement for a $250 million term loan (the Term Loan Credit Agreement), which matures on January 22, 2026. We borrowed the entire $250 million available under the Term Loan Credit Agreement and paid financing costs of $0.4 million, which are being amortized over the term of the agreement. 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. 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 Term Loan Credit Agreement contains certain customary covenants, including financial covenants, which require NewMarket to maintain a consolidated Leverage Ratio (as defined in the Term Loan Credit Agreement) of no more than 3.75 to 1.00 except during an Increased Leverage Period (as defined in the Term Loan Credit Agreement). We were in compliance with all covenants under the term loan as of September 30, 2024. Revolving Credit Facility - On January 22, 2024, NewMarket 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. Certain of NewMarket's foreign subsidiaries may, from time to time, become borrowers under the Revolving Credit Agreement. The obligations under the Revolving Credit Agreement are unsecured and are fully and unconditionally guaranteed by NewMarket. Concurrently with entering into the Revolving Credit Agreement, we terminated our former revolving credit facility dated as of March 5, 2020. Upon termination, we repaid the amount then outstanding under the former revolving credit facility, plus accrued and unpaid interest. 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. The Revolving Credit Agreement contains certain customary covenants, including financial covenants, which require NewMarket to maintain a consolidated Leverage Ratio (as defined in the Revolving Credit Agreement) of no more than 3.75 to 1.00 except during an Increased Leverage Period (as defined in the Revolving Credit Agreement). We were in compliance with all covenants under the revolving credit facility in effect as of September 30, 2024 and December 31, 2023. We paid financing costs in 2024 of approximately $1.8 million related to this revolving credit facility and carried over deferred financing costs from the former revolving credit facility of approximately $0.4 million, resulting in total gross deferred financing costs of $2.2 million as of September 30, 2024, which we are amortizing over the term of the Revolving Credit Agreement. The average interest rate for borrowings under the revolving credit agreements in place during a given period was 6.6% during the first nine months of 2024 and 6.2% during the year ended December 31, 2023.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters 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. 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 adverse effect on our consolidated results of operations, financial condition, or cash flows. 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 potentially responsible party. 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 consolidated financial position, results of operations, and cash flows. Our total accruals for environmental remediation, dismantling, and decontamination were approximately $11 million at both September 30, 2024 and December 31, 2023. Of the total accrual, the current portion is included in accrued expenses and the noncurrent portion is included in other noncurrent liabilities on the Condensed Consolidated Balance Sheets Our more significant environmental sites include a former plant site in Baton Rouge, Louisiana and a Houston, Texas plant site. Together, the amounts accrued on a discounted basis related to these sites represented approximately $9 million of the total accrual above at both September 30, 2024 and December 31, 2023, using discount rates ranging from 3% to 9% for both periods. The aggregate undiscounted amount for these sites was $11 million at both September 30, 2024 and December 31, 2023. Leases

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2024
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, 2022 $ 54,562 $ (126,557) $ (71,995) Other comprehensive income (loss) before reclassifications (1,273) 9,114 7,841 Amounts reclassified from accumulated other comprehensive loss (a) (2,628) 0 (2,628) Other comprehensive income (loss) (3,901) 9,114 5,213 Balance at September 30, 2023 $ 50,661 $ (117,443) $ (66,782) Balance at December 31, 2023 $ 79,966 $ (101,037) $ (21,071) Other comprehensive income (loss) before reclassifications (1,600) 10,578 8,978 Amounts reclassified from accumulated other comprehensive loss (a) (2,551) 0 (2,551) Other comprehensive income (loss) (4,151) 10,578 6,427 Balance at September 30, 2024 $ 75,815 $ (90,459) $ (14,644) (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 5 in this Quarterly Report on Form 10-Q and Note 17 in our 2023 Annual Report for further information.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amount of cash and cash equivalents in the Condensed Consolidated Balance Sheets, as well as the fair value, was $80 million at September 30, 2024 and $112 million at December 31, 2023. The fair value is classified as Level 1 in the fair value hierarchy. No material events occurred during the nine months ended September 30, 2024 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 and term loan. 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 the table below is based on the last quoted price closest to September 30, 2024. The fair value of our debt instruments is classified as Level 2 in the fair value hierarchy. September 30, 2024 December 31, 2023 (in thousands) Carrying Fair Carrying Fair Long-term debt $ 1,085,006 $ 1,028,603 $ 643,622 $ 572,983

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
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 was effective for our reporting period beginning January 1, 2024 with the interim period requirements effective for our reporting period beginning January 1, 2025. ASU 2023-07 only currently impacts the disclosures in our annual consolidated financial statements, which will be included in our Annual Report on Form 10-K for the year ending December 31, 2024. We are currently assessing the impact that the adoption of ASU 2023-07 will have on the disclosures in our consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 132,322	$ 111,247	$ 351,674	$ 308,454

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
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

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
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 and term loan.

Acquisition of Business (Tables

Acquisition of Business (Tables)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	The preliminary fair values of the assets acquired and the liabilities assumed in the AMPAC acquisition are as follows (in millions): Cash and cash equivalents $ 16 Trade and other accounts receivable, net 6 Inventories 25 Prepaid expenses and other current assets 3 Property, plant, and equipment, net 111 Intangibles and goodwill 650 Deferred charges and other assets 5 Accounts payable (3) Accrued expenses (5) Other noncurrent liabilities (111) Fair value of net assets acquired $ 697
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Identified intangible assets acquired consisted of the following (in millions): Fair Value Estimated Useful Lives (in years) Customer base $ 275 17.5 Formulas and technology 60 8 Trademarks and trade names 30 15 Water rights 29 indefinite $ 394
Business Acquisition, Pro Forma Information [Table Text Block]		The following table presents the financial results in thousands for AMPAC from the date of acquisition through September 30, 2024 and for the third quarter ended September 30, 2024. AMPAC Third January 16 to September 30, 2024 Net sales $ 59,094 $ 114,151 Income before income tax expense 16,274 16,196 The following table presents our estimated unaudited pro forma consolidated results for the third quarter and nine months ended September 30, 2024 and September 30, 2023, assuming the acquisition of AMPAC had occurred on January 1, 2023. The unaudited pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been realized if the acquisition had been completed at the beginning of 2023, nor is it indicative of expected results for any future period. In addition, no effect is given to any future synergistic benefits that could result from the integration of AMPAC into NewMarket. Unaudited pro forma information for the third quarter and nine months ended September 30, 2024 and September 30, 2023 includes adjustments to depreciation and amortization based upon the fair value allocation of the purchase price to AMPAC's tangible and intangible assets acquired and liabilities assumed as though the acquisition had occurred on January 1, 2023, as well as adjustments for debt-related costs and management fees. The acquisition-related costs and the charge related to the fair value adjustment to acquisition-date inventory were recognized in actual results during the third quarter and nine months ended September 30, 2024, but for the presentation below, these costs are excluded from 2024 unaudited pro forma income before income taxes and are instead reflected in 2023 pro forma income before income taxes as though they were incurred during the third quarter and nine months ended September 30, 2023. Pro Forma Supplemental Information (unaudited) (in thousands) Third Quarter Ended Nine Months Ended Consolidated 2024 2023 2024 2023 Net sales $ 724,947 $ 734,100 $ 2,137,011 $ 2,160,279 Income before income tax expense 172,013 151,040 456,988 370,186

Net Sales (Tables)

Net Sales (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Net Sales by Geographic Area	The following table provides information on our net sales by geographic area. Information on net sales by segment is presented in Note 4. Third Quarter Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Net sales United States $ 305,382 $ 246,462 $ 827,101 $ 745,470 Europe, Middle East, Africa, India 201,538 200,843 612,828 607,913 Asia Pacific 136,691 129,717 441,793 433,905 Other foreign 81,336 90,128 250,189 267,781 Net sales $ 724,947 $ 667,150 $ 2,131,911 $ 2,055,069

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Net Sales by Segment	Net Sales by Segment Third Quarter Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Petroleum additives Lubricant additives $ 568,450 $ 562,692 $ 1,715,559 $ 1,753,772 Fuel additives 94,564 101,027 294,545 293,907 Total 663,014 663,719 2,010,104 2,047,679 Specialty materials 59,094 0 114,151 0 All other 2,839 3,431 7,656 7,390 Net sales $ 724,947 $ 667,150 $ 2,131,911 $ 2,055,069
Segment Operating Profit	Segment Operating Profit Third Quarter Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Petroleum additives $ 157,468 $ 139,820 $ 456,196 $ 404,026 Specialty materials 15,962 0 15,967 0 All other (93) (764) (1,548) (2,761) Segment operating profit 173,337 139,056 470,615 401,265 Corporate, general, and administrative expenses (3,953) (6,389) (13,495) (19,690) Interest and financing expenses, net (14,157) (9,221) (45,721) (30,249) Other income (expense), net 13,944 11,036 38,459 33,014 Income before income tax expense $ 169,171 $ 134,482 $ 449,858 $ 384,340

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Cash Contributions Made And Expected Remaining Contributions For Pension And Postretirement Benefit Plans	The table below shows cash contributions made during the nine months ended September 30, 2024, as well as the remaining cash contributions we expect to make during the year ending December 31, 2024, for our domestic and foreign pension plans and domestic postretirement benefit plan. (in thousands) Actual Cash Contributions for Nine Months Ended Expected Remaining Cash Contributions for Year Ending Domestic plans Pension benefits $ 4,121 $ 770 Postretirement benefits 1,025 342 Foreign plans Pension benefits 3,794 1,479
Net Periodic Benefit Cost (Income) For Pension And Postretirement Benefit Plans	The tables below present information on net periodic benefit cost (income) for our domestic and foreign pension plans and domestic postretirement benefit plan. The service cost component of net periodic benefit cost (income) is reflected in cost of goods sold; selling, general, and administrative expenses; or research, development, and testing expenses, according to 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. Domestic Pension Benefits Postretirement Benefits Third Quarter Ended September 30, (in thousands) 2024 2023 2024 2023 Service cost $ 3,177 $ 2,482 $ 216 $ 130 Interest cost 5,997 4,587 372 404 Expected return on plan assets (14,030) (11,510) (191) (182) Amortization of prior service cost (credit) 47 127 (757) (757) Amortization of actuarial net (gain) loss (367) (376) (71) (55) Net periodic benefit cost (income) $ (5,176) $ (4,690) $ (431) $ (460) Domestic Pension Benefits Postretirement Benefits Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Service cost $ 9,255 $ 7,799 $ 485 $ 390 Interest cost 17,646 13,659 1,208 1,186 Expected return on plan assets (41,295) (34,529) (576) (585) Amortization of prior service cost (credit) 140 139 (2,271) (2,271) Amortization of actuarial net (gain) loss (1,282) (1,199) (102) (206) Net periodic benefit cost (income) $ (15,536) $ (14,131) $ (1,256) $ (1,486) Foreign Pension Benefits Third Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Service cost $ 1,084 $ 1,094 $ 3,246 $ 3,222 Interest cost 1,625 1,615 4,851 4,736 Expected return on plan assets (3,371) (2,973) (10,020) (8,713) Amortization of prior service cost (credit) 35 36 105 104 Amortization of actuarial net (gain) loss (5) (6) (18) (18) Net periodic benefit cost (income) $ (632) $ (234) $ (1,836) $ (669)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share. Third Quarter Ended September 30, Nine Months Ended (in thousands, except per-share amounts) 2024 2023 2024 2023 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 132,322 $ 111,247 $ 351,674 $ 308,454 Earnings allocated to participating securities (474) (393) (1,247) (1,055) Net income attributable to common shareholders after allocation of earnings to participating securities $ 131,848 $ 110,854 $ 350,427 $ 307,399 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 9,561 9,556 9,559 9,592 Earnings per share - basic and diluted $ 13.79 $ 11.60 $ 36.66 $ 32.05

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	(in thousands) September 30, December 31, Finished goods and work-in-process $ 424,609 $ 351,746 Raw materials 85,100 82,441 Stores, supplies, and other 24,753 22,047 $ 534,462 $ 456,234

Intangibles (Net of Amortizat_2

Intangibles (Net of Amortization) and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Information Related to 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. September 30, 2024 December 31, 2023 (in thousands) Gross Accumulated Gross Accumulated Amortizing intangible assets Formulas and technology $ 60,000 $ 5,345 $ 6,200 $ 6,200 Contract 0 0 2,000 2,000 Customer bases 280,440 15,880 5,440 4,539 Trademarks and trade names 30,000 1,425 0 0 Water rights 29,392 0 Goodwill 379,878 123,741 $ 779,710 $ 22,650 $ 137,381 $ 12,739
Schedule Of Amortization Expense	Amortization expense was (in thousands): Third quarter ended September 30, 2024 $ 6,351 Nine months ended September 30, 2024 18,111 Third quarter ended September 30, 2023 748 Nine months ended September 30, 2023 1,459
Schedule Of Estimated Annual Amortization Expense Related To Intangible Assets	Estimated amortization expense for the remainder of 2024, as well as estimated annual amortization expense related to our intangible assets for the next five years, is expected to be (in thousands): 2024 $ 6,343 2025 25,404 2026 25,404 2027 25,404 2028 25,355 2029 25,214

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	(in thousands) September 30, December 31, Senior notes - 2.70% due 2031 (net of related deferred financing costs) $ 394,285 $ 393,622 Senior notes - 3.78% due 2029 250,000 250,000 Term loan (net of related deferred financing costs) 249,721 0 Revolving credit facility 191,000 0 $ 1,085,006 $ 643,622

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2022 $ 54,562 $ (126,557) $ (71,995) Other comprehensive income (loss) before reclassifications (1,273) 9,114 7,841 Amounts reclassified from accumulated other comprehensive loss (a) (2,628) 0 (2,628) Other comprehensive income (loss) (3,901) 9,114 5,213 Balance at September 30, 2023 $ 50,661 $ (117,443) $ (66,782) Balance at December 31, 2023 $ 79,966 $ (101,037) $ (21,071) Other comprehensive income (loss) before reclassifications (1,600) 10,578 8,978 Amounts reclassified from accumulated other comprehensive loss (a) (2,551) 0 (2,551) Other comprehensive income (loss) (4,151) 10,578 6,427 Balance at September 30, 2024 $ 75,815 $ (90,459) $ (14,644) (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 5 in this Quarterly Report on Form 10-Q and Note 17 in our 2023 Annual Report for further information.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Estimated Fair Value Of Long-Term Debt	September 30, 2024 December 31, 2023 (in thousands) Carrying Fair Carrying Fair Long-term debt $ 1,085,006 $ 1,028,603 $ 643,622 $ 572,983

Acquisition of Business (Narrat

Acquisition of Business (Narrative) (Details)	Jan. 16, 2024 USD ($)
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Payments to Acquire Businesses, Gross	$ 697,000,000
Goodwill, Acquired During Period	256,000,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount	0
Business Combination, Acquisition Related Costs	$ 1,000,000

Acquisition of Business (Fair V

Acquisition of Business (Fair Values of Assets and Liabilities Assumed) (Details) $ in Millions	Jan. 16, 2024 USD ($)
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 16
Business Combination, Acquired Receivable, Fair Value	6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	25
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	111
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Including Goodwill	650
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	(3)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(5)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(111)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 697

Acquisition of Business (Schedu

Acquisition of Business (Schedule of Intangibles) (Details) $ in Millions	Jan. 16, 2024 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total	$ 394
AMPAC [Member] | Water rights
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets Acquired	29
AMPAC [Member] | Customer Bases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 275
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	17 years 6 months
AMPAC [Member] | Formulas And Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 60
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	8 years
AMPAC [Member] | Trademarks and Trade Names
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 30
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	15 years

Acquisition of Business (Sche_2

Acquisition of Business (Schedule of ProForma Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	$ 724,947	$ 734,100		$ 2,137,011	$ 2,160,279
Business Acquisition, Pro Forma Income Before Income Taxes	172,013	$ 151,040		$ 456,988	$ 370,186
AMPAC [Member]
Business Acquisition [Line Items]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	59,094		$ 114,151
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	$ 16,274		$ 16,196

Net Sales (Schedule of Net Sale

Net Sales (Schedule of Net Sales by Geographical Area) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 724,947	$ 667,150	$ 2,131,911	$ 2,055,069
United States
Disaggregation of Revenue [Line Items]
Net sales	305,382	246,462	827,101	745,470
Europe, Middle East, Africa, India [Member]
Disaggregation of Revenue [Line Items]
Net sales	201,538	200,843	612,828	607,913
Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	136,691	129,717	441,793	433,905
Other Foreign [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 81,336	$ 90,128	$ 250,189	$ 267,781

Segment Information (Net Sales

Segment Information (Net Sales By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Information [Line Items]
Net sales	$ 724,947	$ 667,150	$ 2,131,911	$ 2,055,069
Operating Segments [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Net sales	663,014	663,719	2,010,104	2,047,679
Operating Segments [Member] | All Other [Member]
Segment Information [Line Items]
Net sales	2,839	3,431	7,656	7,390
Operating Segments [Member] | Lubricant Additives [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Net sales	568,450	562,692	1,715,559	1,753,772
Operating Segments [Member] | Fuel Additives [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Net sales	94,564	101,027	294,545	293,907
Operating Segments [Member] | Specialty materials | Specialty materials
Segment Information [Line Items]
Net sales	$ 59,094	$ 0	$ 114,151	$ 0

Segment Information (Segment Op

Segment Information (Segment Operating Profit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Information [Line Items]
Segment operating profit	$ 169,523	$ 132,425	$ 457,275	$ 381,708
Corporate, general, and administrative expenses	(42,124)	(37,386)	(129,329)	(114,671)
Interest and financing expenses, net	(14,157)	(9,221)	(45,721)	(30,249)
Other income (expense), net	13,805	11,278	38,304	32,881
Income before income tax expense	169,171	134,482	449,858	384,340
Operating Segments [Member]
Segment Information [Line Items]
Segment operating profit	173,337	139,056	470,615	401,265
Operating Segments [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Segment operating profit	157,468	139,820	456,196	404,026
Operating Segments [Member] | Specialty materials
Segment Information [Line Items]
Segment operating profit	15,962	0	15,967	0
Operating Segments [Member] | All Other [Member]
Segment Information [Line Items]
Segment operating profit	(93)	(764)	(1,548)	(2,761)
Corporate, Non-Segment [Member]
Segment Information [Line Items]
Corporate, general, and administrative expenses	(3,953)	(6,389)	(13,495)	(19,690)
Interest and financing expenses, net	(14,157)	(9,221)	(45,721)	(30,249)
Other income (expense), net	$ 13,944	$ 11,036	$ 38,459	$ 33,014

Pension Plans and Other Postr_3

Pension Plans and Other Postretirement Benefits (Cash Contributions Made And Expected Remaining Contributions For Pension And Postretirement Benefit Plans) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Pension Plan [Member] | Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions	$ 4,121
Expected Remaining Cash Contributions	770
Pension Plan [Member] | Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions	3,794
Expected Remaining Cash Contributions	1,479
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions	1,025
Expected Remaining Cash Contributions	$ 342

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefits (Net Periodic Benefit Cost (Income) For Pension And Postretirement Benefit Plans) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pension Plan [Member] | Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3,177	$ 2,482	$ 9,255	$ 7,799
Interest cost	5,997	4,587	17,646	13,659
Expected return on plan assets	(14,030)	(11,510)	(41,295)	(34,529)
Amortization of prior service cost (credit)	47	127	140	139
Amortization of actuarial net (gain) loss	(367)	(376)	(1,282)	(1,199)
Net periodic benefit cost (income)	(5,176)	(4,690)	(15,536)	(14,131)
Pension Plan [Member] | Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,084	1,094	3,246	3,222
Interest cost	1,625	1,615	4,851	4,736
Expected return on plan assets	(3,371)	(2,973)	(10,020)	(8,713)
Amortization of prior service cost (credit)	35	36	105	104
Amortization of actuarial net (gain) loss	(5)	(6)	(18)	(18)
Net periodic benefit cost (income)	(632)	(234)	(1,836)	(669)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	216	130	485	390
Interest cost	372	404	1,208	1,186
Expected return on plan assets	(191)	(182)	(576)	(585)
Amortization of prior service cost (credit)	(757)	(757)	(2,271)	(2,271)
Amortization of actuarial net (gain) loss	(71)	(55)	(102)	(206)
Net periodic benefit cost (income)	$ (431)	$ (460)	$ (1,256)	$ (1,486)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive shares of nonvested restricted stock that were excluded from the calculation of diluted earnings per share (in shares)			34,474	34,071
Earnings per share numerator:
Net income attributable to common shareholders before allocation of earnings to participating securities	$ 132,322	$ 111,247	$ 351,674	$ 308,454
Earnings allocated to participating securities	(474)	(393)	(1,247)	(1,055)
Net income attributable to common shareholders after allocation of earnings to participating securities	$ 131,848	$ 110,854	$ 350,427	$ 307,399
Earnings per share denominator:
Weighted-average number of shares of common stock outstanding - basic (in shares)	9,561,000	9,556,000	9,559,000	9,592,000
Weighted-average number of shares of common stock outstanding - diluted (in shares)	9,561,000	9,556,000	9,559,000	9,592,000
Earnings per share - basic (in dollars per share)	$ 13.79	$ 11.60	$ 36.66	$ 32.05
Earnings per share - diluted (in dollars per share)	$ 13.79	$ 11.60	$ 36.66	$ 32.05

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods and work-in-process	$ 424,609	$ 351,746
Raw materials	85,100	82,441
Stores, supplies, and other	24,753	22,047
Inventories	$ 534,462	$ 456,234

Intangibles (Net of Amortizat_3

Intangibles (Net of Amortization) and Goodwill (Narrative) (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Net carrying amount of intangibles and goodwill	$ 757,060,000	$ 124,642,000
Accumulated goodwill impairment	0	$ 0
Petroleum Additives [Member]
Finite-Lived Intangible Assets [Line Items]
Net carrying amount of intangibles and goodwill	125,000,000
Specialty materials
Finite-Lived Intangible Assets [Line Items]
Net carrying amount of intangibles and goodwill	$ 632,000,000
Formulas And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	8 years
Customer Bases [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	17 years 6 months
Customer Bases [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	20 years
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	15 years

Intangibles (Net of Amortizat_4

Intangibles (Net of Amortization) and Goodwill (Schedule Of Information Related To Intangible Assets and Goodwill) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Accumulated Amortization	$ 22,650	$ 12,739
Goodwill, Gross Carrying Amount	379,878	123,741
Amortizing intangible assets and Goodwill, Gross Carrying Amount	779,710	137,381
Water rights
Finite-Lived Intangible Assets [Line Items]
Other Indefinite-Lived Intangible Assets	29,392	0
Formulas And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	60,000	6,200
Amortizing intangible assets, Accumulated Amortization	5,345	6,200
Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	0	2,000
Amortizing intangible assets, Accumulated Amortization	0	2,000
Customer Bases [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	280,440	5,440
Amortizing intangible assets, Accumulated Amortization	15,880	4,539
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	30,000	0
Amortizing intangible assets, Accumulated Amortization	$ 1,425	$ 0

Intangibles (Net of Amortizat_5

Intangibles (Net of Amortization) and Goodwill (Schedule Of Amortization Expense And Estimated Annual Amortization Expense Related To Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 6,351	$ 748	$ 18,111	$ 1,459
2024	6,343		6,343
2025	25,404		25,404
2026	25,404		25,404
2027	25,404		25,404
2028	25,355		25,355
2029	$ 25,214		$ 25,214

Long-term Debt (Schedule Of Lon

Long-term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term Debt, Noncurrent	$ 1,085,006	$ 643,622
2.70% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes, interest rate	2.70%	2.70%
Long-term Debt, Noncurrent	$ 394,285	$ 393,622
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
Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Noncurrent	249,721	0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt, Noncurrent	$ 191,000	$ 0

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) maximumNumberOfLeverage	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Jan. 22, 2024 USD ($)	Mar. 18, 2021 USD ($)
Debt Instrument [Line Items]
Debt issuance costs	$ 2,251,000	$ 0
Long-term Debt, Noncurrent	$ 1,085,006,000		$ 643,622,000
2.70% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes, interest rate	2.70%		2.70%
Principal amount of debt issued					$ 400,000,000
Long-term Debt, Noncurrent	$ 394,285,000		$ 393,622,000
3.78% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes, interest rate	3.78%		3.78%
Long-term Debt, Noncurrent	$ 250,000,000		$ 250,000,000
Unsecured Debt
Debt Instrument [Line Items]
Principal amount of debt issued				$ 250,000,000
Debt issuance costs	400,000
Long-term Debt, Noncurrent	$ 249,721,000		$ 0
MaximumLeverageRatio | maximumNumberOfLeverage	3.75
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				900,000,000
Line Of Credit Facility Potential Increase To Maximum Borrowing Capacity				450,000,000
Debt issuance costs	$ 1,800,000
Line of Credit Facility Financing Costs Carried Over	400,000
Total Debt Issuance Cost	$ 2,200,000
Average interest rate during the period	6.60%		6.20%
Long-term Debt, Noncurrent	$ 191,000,000		$ 0
Outstanding letters of credit	2,000,000		2,000,000
Unused portion of revolving credit facility	$ 707,000,000		$ 898,000,000
MaximumLeverageRatio | maximumNumberOfLeverage	3.75
Revolving Credit Facility [Member] | Multicurrency Borrowings [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				500,000,000
Revolving Credit Facility [Member] | Swingline Loans [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				20,000,000
Revolving Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 25,000,000

Commitments and Contingencies (

Commitments and Contingencies (Environmental) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination, undiscounted	$ 11	$ 11
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	$ 9
Accruals for environmental remediation, dismantling, and decontamination, undiscounted	$ 11	$ 11
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%

Commitment and Contingencies (O

Commitment and Contingencies (Other Commitments) (Details) $ in Millions	Sep. 30, 2024 USD ($)
Commitments
Site Contingency [Line Items]
Lessee Lease Not Yet Commenced Payments Due	$ 3

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Schedule of Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Pension Plans and Other Postretirement Benefits, Beginning Balance				$ 79,966	$ 54,562
Foreign Currency Translation Adjustments, Beginning Balance				(101,037)	(126,557)
Accumulated Other Comprehensive (Loss) Income, Beginning Balance				(21,071)	(71,995)
Other comprehensive income (loss) before reclassifications, Pension Plans and Other Postretirement Benefits				(1,600)	(1,273)
Other comprehensive income (loss) before reclassifications, Foreign Currency Translation Adjustments				10,578	9,114
Other comprehensive income (loss) before reclassifications, Accumulated Other Comprehensive (Loss) Income				8,978	7,841
Amounts reclassified from accumulated other comprehensive loss, Pension Plans and Other Postretirement Benefits	[1]			(2,551)	(2,628)
Amounts reclassified from accumulated other comprehensive loss, Foreign Currency Translation Adjustments				0	0
Amounts reclassified from accumulated other comprehensive loss, Accumulated Other Comprehensive (Loss) Income				(2,551)	(2,628)
Total pension plans and other postretirement benefits		$ (2,432)	$ (2,059)	(4,151)	(3,901)
Other comprehensive income (loss), Foreign Currency Translation Adjustments		21,885	(9,966)	10,578	9,114
Other comprehensive income (loss)		19,453	(12,025)	6,427	5,213
Pension Plans and Other Postretirement Benefits, Ending Balance		75,815	50,661	75,815	50,661
Foreign Currency Translation Adjustments, Ending Balance		(90,459)	(117,443)	(90,459)	(117,443)
Accumulated Other Comprehensive (Loss) Income, Ending Balance		$ (14,644)	$ (66,782)	$ (14,644)	$ (66,782)
[1]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 5 in this Quarterly Report on Form 10-Q and Note 17 in our 2023 Annual Report for further information.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of cash and cash equivalents in the Consolidated Balance Sheets	$ 80,310	$ 111,936
Carrying amount of cash and cash equivalents in the Consolidated Balance Sheets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of cash and cash equivalents in the Consolidated Balance Sheets	80,000	112,000
Fair Value, Inputs, Level 1 [Member] | Fair value of cash and cash equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	$ 80,000	$ 112,000

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, including current maturities, Carrying amount	$ 1,085,006	$ 643,622
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term debt, including current maturities, Fair value	$ 1,028,603	$ 572,983