XML 50 R37.htm IDEA: XBRL DOCUMENT v3.22.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Components of Income Taxes and Comprehensive Provision for Income Taxes Allocation

​

​	​	​	​	​	​	​	​	​	​
​	​	Years ended December 31,
​		2020			2021			2022
​	​	(In millions)
Pre-tax income:		​			​			​
U.S.	​	$	20.9	​	$	25.5	​	$	44.1
Non-U.S.	​		59.1	​		127.9	​		89.8
Total	​	$	80.0	​	$	153.4	​	$	133.9
​	​	​	​	​	​	​	​	​	​
Expected tax expense, at U.S. federal statutory    income tax rate of 21%	​	$	16.8	​	$	32.2	​	$	28.1
Non-U.S. tax rates	​		.7	​		4.6	​		2.1
Incremental net tax benefit on earnings and losses of U.S.    and non-U.S. companies	​		(5.5)	​		(3.9)	​		(.5)
Valuation allowance, net	​		.8	​		3.1	​		(3.6)
Global intangible low-tax income, net	​		2.7	​		2.8	​		2.1
Tax rate changes	​	​	(.3)	​	​	-	​	​	-
Assessment (refund) of prior tax payments, net	​	​	(.1)	​	​	.1	​	​	-
Adjustment to the reserve for uncertain tax positions, net	​		.1	​		-	​		(.4)
Nondeductible expenses	​		.9	​		1.0	​		.9
U.S. state income taxes and other, net	​		-	​		.6	​		.7
Income tax expense	​	$	16.1	​	$	40.5	​	$	29.4
​	​	​	​	​	​	​	​	​	​
Components of income tax expense:	​			​			​
Current payable:	​			​			​
U.S. federal and state	​	$	4.8	​	$	4.6	​	$	10.7
Non-U.S.	​		14.9	​		21.6	​		20.1
​	​		19.7	​		26.2	​		30.8
​	​	​	​	​	​	​	​	​	​
Deferred income taxes (benefit):	​			​			​
U.S. federal and state	​		(2.6)	​		3.3	​		(3.0)
Non-U.S.	​		(1.0)	​		11.0	​		1.6
​	​		(3.6)	​		14.3	​		(1.4)
Income tax expense	​	$	16.1	​	$	40.5	​	$	29.4
​	​	​	​	​	​	​	​	​	​
Comprehensive provision for income taxes allocable to:	​			​			​
Net income	​	$	16.1	​	$	40.5	​	$	29.4
Other comprehensive income (loss):	​			​			​
Pension plans	​	​	(6.0)	​	​	24.0	​	​	49.3
OPEB plans	​	​	(.2)	​	​	-	​	​	.4
Total	​	$	9.9	​	$	64.5	​	$	79.1

​

Components of Net Deferred Income Taxes

The components of our net deferred income taxes at December 31, 2021 and 2022 are summarized in the following table.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31,

​

​

2021

​

2022

​

Assets

Liabilities

Assets

Liabilities

​

​

(In millions)

Tax effect of temporary differences related to:

​

​

​

​

Inventories

​

$

-

​

$

(2.9)

​

$

-

​

$

(5.5)

Property and equipment

​

-

​

(62.5)

​

-

​

(59.1)

Lease assets (liabilities)

​

5.0

​

(5.1)

​

5.3

​

(5.4)

Accrued OPEB costs

​

2.3

​

-

​

1.7

​

-

Accrued pension costs

​

73.6

​

-

​

21.6

​

-

Other accrued liabilities and deductible differences

​

12.1

​

-

​

15.3

​

-

Other taxable differences

​

-

​

(3.3)

​

-

​

(3.9)

Tax on unremitted earnings of non-U.S. subsidiaries

​

-

​

(11.2)

​

-

​

(11.3)

Tax loss and tax credit carryforwards

​

78.1

​

-

​

70.7

​

-

Valuation allowance

​

(7.4)

​

-

​

(3.8)

​

-

Adjusted gross deferred tax assets (liabilities)

​

163.7

​

(85.0)

​

110.8

​

(85.2)

Netting by tax jurisdiction

​

(56.9)

​

56.9

​

(58.8)

​

58.8

Net noncurrent deferred tax asset (liability)

​

$

106.8

​

$

(28.1)

​

$

52.0

​

$

(26.4)

​

Changes in Amount of Uncertain Tax Positions

The following table shows the changes in the amount of our uncertain tax positions (exclusive of the effect of interest and penalties discussed above) during 2020, 2021 and 2022:

​	​	​	​	​	​	​	​	​	​
​	​	Years ended December 31,
​		2020			2021			2022
​	​	(In millions)
Changes in unrecognized tax benefits:		​			​			​
Unrecognized tax benefits at beginning of year	​	$	3.9	​	$	4.1	​	$	3.8
Net increase (decrease):	​			​			​
Tax positions taken in prior periods	​		(.3)	​		-	​		-
Tax positions taken in current period	​		.6	​		.6	​		.7
Lapse due to applicable statute of limitations	​		(.5)	​		(.7)	​		(1.1)
Change in currency exchange rates	​		.4	​		(.2)	​		(.2)
Unrecognized tax benefits at end of year	​	$	4.1	​	$	3.8	​	$	3.2

​

X

- Definition

Schedule of effective income tax rate reconciliation and components of income tax expenses benefit and components of comprehensive provision for income taxes allocation.

+ References

No definition available.

+ Details

Name:	kro_ScheduleOfEffectiveIncomeTaxRateReconciliationAndComponentsOfIncomeTaxExpensesBenefitAndComponentsOfComprehensiveProvisionForIncomeTaxesAllocationTableTextBlock
Namespace Prefix:	kro_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration