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1-00-CV-788657) on July 24, 2019, an order approving a global settlement agreement entered into among all of the plaintiffs and the three defendants remaining in the case (the Sherwin Williams Company, ConAgra Grocery Products and NL) was entered by the court and the case was dismissed with prejudice.
−Removed: The global settlement agreement provides that an aggregate $305 million will be paid collectively by the three co-defendants in full satisfaction of all claims resulting in a dismissal of the case with prejudice and the resolution of (i) all pending and future claims by the plaintiffs in the case, and (ii) all potential claims for contribution or indemnity between NL and its co-defendants in respect to the case.
+Added: The global settlement agreement provided that an aggregate $305 million would be paid collectively by the three co-defendants in full satisfaction of all claims resulting in a dismissal of the case with prejudice and the resolution of (i) all pending and future claims by the plaintiffs in the case, and (ii) all potential claims for contribution or indemnity between NL and its co-defendants in respect to the case.
In the agreement, NL expressly denies any and all liability and the dismissal of the case with prejudice was entered by the court without a final judgment of liability entered against NL.
The settlement agreement fully concludes this matter.
−Removed: Under the terms of the global settlement agreement, each defendant must pay an aggregate $101.7 million to the plaintiffs as follows:
+Added: Under the terms of the global settlement agreement, each defendant paid an aggregate $101.7 million to the plaintiffs as follows:
$25.0 million within sixty days of the court’s approval of the settlement and dismissal of the case, and the remaining $76.7 million in six annual installments beginning on the first anniversary of the initial payment ($12.0 million for the first five installments and $16.7 million for the sixth installment).
−Removed: NL’s sixth installment due in September 2025 will be made with funds already on deposit at the court, which is included in current restricted cash on our Consolidated Balance Sheets, that are committed to the settlement, including all accrued interest at the date of payment, with any remaining balance to be paid by NL (and any amounts on deposit in excess of the final payment would be returned to NL).
−Removed: Pursuant to the settlement agreement, NL had placed an additional $9.0 million into an escrow account which was previously included in noncurrent restricted cash on our Consolidated Balance Sheets.
−Removed: Following NL’s fifth $12.0 million installment made in September 2024, these funds became available for use and were reclassified as cash equivalents on our Consolidated Balance Sheet.
−Removed: For financial reporting purposes, using a discount rate of 1.9% per annum, we discounted the aggregate $101.7 million settlement to the estimated net present value of $96.3 million.
−Removed: NL made the initial $25.0 million payment in September 2019 and five annual installment payments of $12.0 million beginning in September 2020 and each September thereafter through 2024.
−Removed: We recognized an aggregate accretion expense of $.9 million, $.7 million and $.5 million in 2022, 2023 and 2024, respectively.
+Added: NL’s sixth installment, which was paid in October 2025, was funded with amounts that were already on deposit at the court and, previously included in current restricted cash on our Consolidated Balance Sheets, as those amounts, together with all accrued interest at the date of payment.
+Added: Per the terms of the settlement, any amounts on deposit in excess of the final payment were to be returned to NL and, in October 2025, NL received accrued interest of approximately $1.6 million from such restricted cash.
+Added: For financial reporting purposes, NL used a discount rate of 1.9% per annum to discount the aggregate $101.7 million settlement to the estimated net present value of $96.3 million.
+Added: NL recognized an aggregate accretion expense of $.7 million, $.5 million and $.2 million in 2023, 2024 and 2025, respectively.
In January 2024, NL was served with a third-party complaint in a matter titled Arrioena Beal v.
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The plaintiff in this case sued her former landlords and several former manufacturers of lead paint for injuries allegedly attributable to lead paint, but did not sue NL.
−Removed: Several of the former lead paint manufacturer defendants later filed a third-party complaint against NL, seeking
−Removed: contribution for any damages they may ultimately have to pay to the plaintiff.
+Added: Several of the former lead paint manufacturer defendants later filed a third-party complaint against NL, seeking contribution for any damages they may ultimately have to pay to the plaintiff.
NL believes it has substantial defenses to these claims under Wisconsin law and intends to defend itself vigorously.
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In addition, the imposition of more stringent standards or requirements under environmental laws or regulations, new developments or changes regarding site cleanup costs or the allocation of costs among PRPs, solvency of other PRPs, the results of future testing and analysis undertaken with respect to certain sites or a determination that we are potentially responsible for the release of hazardous substances at other sites, could cause our expenditures to exceed our current estimates.
−Removed: Actual costs could exceed accrued amounts or the upper end of the range for sites for which estimates have been
−Removed: made, and costs may be incurred for sites where no estimates presently can be made.
+Added: Actual costs could exceed accrued amounts or the upper end of the range for sites for which estimates have been made, and costs may be incurred for sites where no estimates presently can be made.
Further, additional environmental and related matters may arise in the future.
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On a quarterly basis, we evaluate the potential range of our liability for environmental remediation and related costs at sites where we have been named as a PRP or defendant, including sites for which NL’s wholly-owned environmental management subsidiary, NL Environmental Management Services, Inc., (“EMS”), has contractually assumed NL’s obligations.
−Removed: At December 31, 2024, NL had accrued approximately $69 million related to approximately 30 sites associated with remediation and related matters that NL believes are at the present time and/or in their current phase reasonably estimable.
−Removed: Excluding the $56.1 million environmental remediation settlement payment made in the first quarter of 2025 (as discussed below), the upper end of the range of reasonably possible costs to NL for remediation and related matters for which NL believes it is possible to estimate costs is approximately $38 million, including amounts currently accrued.
+Added: At December 31, 2025, NL had accrued approximately $13 million related to approximately 27 sites associated with remediation and related matters NL believes are at the present time and/or in their current phase reasonably estimable.
+Added: The upper end of the range of reasonably possible costs to us for remediation and related matters for which NL believes it is possible to estimate costs is approximately $26 million, including amounts currently accrued.
+Added: These accruals have not been discounted to present value.
NL believes that it is not reasonably possible to estimate the range of costs for certain sites.
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3:13-cv-03493-MAS-TJB) against the current owner, Old Bridge Township, several federal and state entities and a number of private companies.
−Removed: On February 10, 2025, the United States District Court for the District of New Jersey entered an order approving a consent decree relating to the RBS Site in Middlesex County, New Jersey.
+Added: In February 2025, the United States District Court for the District of New Jersey entered an order approving a consent decree relating to the RBS Site in Middlesex County, New Jersey.
The consent decree requires the United States Army Corps of Engineers (and other federal agencies), the State of New Jersey, the Township of Old Bridge, NL, and twenty-two other private companies to pay a total of $151.1 million, plus interest, to resolve all federal and state law claims for past and future response costs under CERCLA and the New Jersey Spill Act, including natural resource damages, contribution, and indemnification, relating to the RBS Site.
−Removed: The consent decree is a global settlement of all such claims relating to the RBS Site and resolves a lawsuit captioned United States of America, et al.
+Added: The consent decree is a global settlement of all such claims
+Added: relating to the RBS Site and resolves a lawsuit captioned United States of America, et al.
NL Industries, Inc., et al.
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Under the terms of the consent decree, in the first quarter of 2025 NL paid $56.1 million, plus $.5 million interest, toward the global settlement and received approximately $9.6 million from the other private companies participating in the settlement.
−Removed: We recognized aggregate income of approximately $31.4 million in 2024 related to the adjustment of NL’s environmental accrual related to this matter and the recording of a $9.6 million receivable for the funds received in the first quarter of 2025 from the other private companies participating in the settlement.
+Added: We recognized aggregate income of approximately $31.4 million in 2024 related to the adjustment of NL’s environmental accrual related to this matter and the recording of a $9.6 million receivable for the funds which NL received in the first quarter of 2025 from the other private companies participating in the settlement.
+Added: The satisfaction of NL’s obligations under the consent decree fully concludes this matter.
In August 2009, NL was served with a complaint in Raritan Baykeeper, Inc.
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1:24-cv-06993).
−Removed: This complaint asserts claims under CERCLA and New York law against NL and a number of other private parties, federal and state agencies, and agencies of
−Removed: the City of New York.
+Added: This complaint asserts claims under CERCLA and New York law against NL and a number of other private parties, federal and state agencies, and agencies of the City of New York.
The plaintiff, a former gas manufacturer, seeks to recover a portion of investigation and remediation costs it allegedly incurred to address contamination at the Gowanus Canal Superfund Site.
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This is a CERCLA cost recovery action brought by a past owner and operator of certain mining properties located in Rico, Colorado.
−Removed: In 2023, the trial court granted partial summary judgment for NL based on the statute of limitations and the plaintiff appealed that decision to the Court of Appeals for the Tenth Circuit.
+Added: In 2023, the trial court granted partial summary judgment
+Added: for NL based on the statute of limitations and the plaintiff appealed that decision to the Court of Appeals for the Tenth Circuit.
In January 2025, the Court of Appeals reversed the trial court’s grant of partial summary judgment and returned the matter to the trial court.
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NL has denied liability and will continue to defend vigorously against all claims.
−Removed: In May 2024, NL was served in Philip Palmeri v.
−Removed: NL Industries, Inc.
−Removed: (Supreme Court of Niagara County, New York, Case No.
−Removed: In this lawsuit, the plaintiff asserts that radioactive material allegedly originating at a former NL facility in Niagara Falls, New York, caused the wrongful death of plaintiff’s spouse and diminished the value of plaintiff’s residential property located in Lewiston, New York.
−Removed: The complaint alleges that NL is liable under theories of strict liability, negligence, private nuisance and trespass.
−Removed: NL has denied liability and will defend vigorously against all claims.
Other Litigation
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NL has sought and will continue to vigorously seek, dismissal and/or a finding of no liability from each claim.
−Removed: In addition, from time to time, NL has received notices regarding asbestos or silica claims purporting to be brought against former subsidiaries, including notices provided
−Removed: to insurers with which it has entered into settlements extinguishing certain insurance policies.
+Added: In addition, from time to time, NL has received notices regarding asbestos or silica claims purporting to be brought against former subsidiaries, including notices provided to insurers with which it has entered into settlements extinguishing certain insurance policies.
These insurers may seek indemnification from NL.
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NL is involved in certain legal proceedings with a number of its former insurance carriers regarding the nature and extent of the carriers’ obligations to NL under insurance policies with respect to certain lead pigment and asbestos lawsuits.
−Removed: The issue of whether insurance coverage for defense costs or indemnity or both will be found to exist for NL’s lead pigment and asbestos litigation depends upon a variety of factors and we cannot assure you that such insurance coverage will be available.
+Added: The issue of whether insurance coverage for defense costs or indemnity or both will be found to exist for NL’s
+Added: lead pigment and asbestos litigation depends upon a variety of factors and we cannot assure you that such insurance coverage will be available.
NL has agreements with certain of its former insurance carriers pursuant to which the carriers reimburse it for a portion of its future lead pigment litigation defense costs, and one such carrier reimburses NL for a portion of its future asbestos litigation defense costs.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.