4. DISCONTINUED OPERATIONS 

SaLE of tEXTILE eFFECTS bUSINESS

On February 28, 2023, we completed the sale of our textile chemicals and dyes business (“Textile Effects Business”) to Archroma, a portfolio company of SK Capital Partners (“Archroma”), and during the first quarter of 2024, we finalized the purchase price valued at $597 million, which includes adjustments to the purchase price for working capital, plus the assumption of underfunded pension liabilities. Additionally, during the nine months ended September 30, 2024, we recorded total net charges of approximately $20 million, primarily related to contingencies, for which we remain liable, and certain post-closing indemnification obligations of approximately $10 million and the release of foreign currency translation adjustments of approximately $9 million related to the liquidation of legal entities of the Textile Effects Business. During the nine months ended September 30, 2024, we paid cash taxes of approximately $10 million, and we expect to pay additional cash taxes of approximately $3 million in future periods related to the sale of our Textile Effects Business.

The following table reconciles major line items constituting pretax (loss) income of discontinued operations to after-tax (loss) income of discontinued operations, primarily related to our Textile Effects Business, as presented in our condensed consolidated statements of operations (dollars in millions):