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The 2025 Form 10-K, filed on February 26, 2026, contained a description of various legal proceedings in which we are involved. See Note 14 "Commitments and Contingencies" to the unaudited consolidated financial statements within this Quarterly Report on Form 10-Q for an updated description of certain of those proceedings, which information is incorporated by reference herein.
From time to time, we receive notices or inquiries from government entities regarding alleged violations of environmental laws and regulations pertaining to, among other things, the disposal, emission and storage of chemical substances, including hazardous wastes. For a description of certain environmental matters involving a governmental authority as a party to the proceedings and potential monetary sanctions that we believe could exceed $1 million (which is less than one percent of our current assets on a consolidated basis as of June 30, 2026), please see the 2025 Form 10-K and Note 14 "Commitments and Contingencies" to the unaudited consolidated financial statements within this Quarterly Report on Form 10-Q in addition to the following:
Clean Air Act Investigation. To resolve alleged violations from 2020 to 2025 under the Risk Management Program and general duty clause of the Clean Air Act at several of our facilities in Louisiana, the Environmental Protection Agency ("EPA") proposed a settlement and a draft consent agreement in May 2026. We are engaged in negotiations with the EPA. The resolution of this matter may involve a civil penalty in excess of $1 million.
We are also involved in other legal proceedings incidental to the conduct of our business. From time to time, we receive notices or inquiries from government entities regarding alleged violations of environmental laws and regulations pertaining to, among other things, the disposal, emission and storage of chemical substances, including hazardous wastes. We do not believe that any of these legal proceedings will have a material adverse effect on our financial condition, results of operations or cash flows.