XML 54 R40.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income taxes |
Components of Income Taxes and Comprehensive Provision for Income Taxes Allocation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | (In millions)
Pre-tax income (loss): |  | ​ |  |  | ​ |  |  | ​ |
U.S. | ​ | $ | 25.5 | ​ | $ | 44.1 | ​ | $ | (1.5)
Non-U.S. | ​ |  | 127.9 | ​ |  | 89.8 | ​ |  | (71.4)
Total | ​ | $ | 153.4 | ​ | $ | 133.9 | ​ | $ | (72.9)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Expected tax expense (benefit), at U.S. federal statutory income tax rate of 21% | ​ | $ | 32.2 | ​ | $ | 28.1 | ​ | $ | (15.3)
Non-U.S. tax rates | ​ |  | 4.6 | ​ |  | 2.1 | ​ |  | (6.3)
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. companies | ​ |  | (3.9) | ​ |  | (.5) | ​ |  | (4.7)
Valuation allowance, net | ​ |  | 3.1 | ​ |  | (3.6) | ​ |  | 2.6
Global intangible low-tax income, net | ​ |  | 2.8 | ​ |  | 2.1 | ​ |  | (.3)
Adjustment to the reserve for uncertain tax positions, net | ​ |  | - | ​ |  | (.4) | ​ |  | (.5)
Nondeductible expenses | ​ |  | 1.0 | ​ |  | .9 | ​ |  | 1.0
U.S. state income taxes and other, net | ​ |  | .7 | ​ |  | .7 | ​ |  | (.3)
Income tax expense (benefit) | ​ | $ | 40.5 | ​ | $ | 29.4 | ​ | $ | (23.8)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Components of income tax expense (benefit): | ​ |  |  | ​ |  |  | ​ |  |
Current payable: | ​ |  |  | ​ |  |  | ​ |  |
U.S. federal and state | ​ | $ | 4.6 | ​ | $ | 10.7 | ​ | $ | 2.0
Non-U.S. | ​ |  | 21.6 | ​ |  | 20.1 | ​ |  | 13.5
​ | ​ |  | 26.2 | ​ |  | 30.8 | ​ |  | 15.5
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income taxes (benefit): | ​ |  |  | ​ |  |  | ​ |  |
U.S. federal and state | ​ |  | 3.3 | ​ |  | (3.0) | ​ |  | (3.7)
Non-U.S. | ​ |  | 11.0 | ​ |  | 1.6 | ​ |  | (35.6)
​ | ​ |  | 14.3 | ​ |  | (1.4) | ​ |  | (39.3)
Income tax expense (benefit) | ​ | $ | 40.5 | ​ | $ | 29.4 | ​ | $ | (23.8)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Comprehensive provision for income taxes (benefit) allocable to: | ​ |  |  | ​ |  |  | ​ |  |
Net income (loss) | ​ | $ | 40.5 | ​ | $ | 29.4 | ​ | $ | (23.8)
Other comprehensive income (loss): | ​ |  |  | ​ |  |  | ​ |  |
Pension plans | ​ | ​ | 24.0 | ​ | ​ | 49.3 | ​ | ​ | (6.7)
OPEB plans | ​ | ​ | - | ​ | ​ | .4 | ​ | ​ | (.2)
Total | ​ | $ | 64.5 | ​ | $ | 79.1 | ​ | $ | (30.7)
Components of Net Deferred Income Taxes | The components of our net deferred income taxes at December 31, 2022 and 2023 are summarized in the following table.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ | ​ | 2022 | ​ | 2023
​ |  | Assets |  | Liabilities |  | Assets |  | Liabilities
​ | ​ | (In millions)
Tax effect of temporary differences related to: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Inventories | ​ | $ | - | ​ | $ | (5.5) | ​ | $ | 1.1 | ​ | $ | -
Property and equipment | ​ |  | - | ​ |  | (59.1) | ​ |  | - | ​ |  | (59.3)
Lease assets (liabilities) | ​ |  | 5.3 | ​ |  | (5.4) | ​ |  | 5.7 | ​ |  | (5.7)
Accrued OPEB costs | ​ |  | 1.7 | ​ |  | - | ​ |  | 1.8 | ​ |  | -
Accrued pension costs | ​ |  | 21.6 | ​ |  | - | ​ |  | 26.8 | ​ |  | -
Other accrued liabilities and deductible differences | ​ |  | 15.3 | ​ |  | - | ​ |  | 16.9 | ​ |  | -
Other taxable differences | ​ |  | - | ​ |  | (3.9) | ​ |  | - | ​ |  | (3.5)
Tax on unremitted earnings of non-U.S. subsidiaries | ​ |  | - | ​ |  | (11.3) | ​ |  | - | ​ |  | (10.8)
Tax loss and tax credit carryforwards | ​ |  | 70.7 | ​ |  | - | ​ |  | 107.7 | ​ |  | -
Valuation allowance | ​ |  | (3.8) | ​ |  | - | ​ |  | (6.4) | ​ |  | -
Adjusted gross deferred tax assets (liabilities) | ​ |  | 110.8 | ​ |  | (85.2) | ​ |  | 153.6 | ​ |  | (79.3)
Netting by tax jurisdiction | ​ |  | (58.8) | ​ |  | 58.8 | ​ |  | (70.3) | ​ |  | 70.3
Net noncurrent deferred tax asset (liability) | ​ | $ | 52.0 | ​ | $ | (26.4) | ​ | $ | 83.3 | ​ | $ | (9.0)
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 2021, 2022 and 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | (In millions)
Changes in unrecognized tax benefits: |  | ​ |  |  | ​ |  |  | ​ |
Unrecognized tax benefits at beginning of year | ​ | $ | 4.1 | ​ | $ | 3.8 | ​ | $ | 3.2
Tax positions taken in current period | ​ |  | .6 | ​ |  | .7 | ​ |  | .5
Lapse due to applicable statute of limitations | ​ |  | (.7) | ​ |  | (1.1) | ​ |  | (1.0)
Change in currency exchange rates | ​ |  | (.2) | ​ |  | (.2) | ​ |  | .1
Unrecognized tax benefits at end of year | ​ | $ | 3.8 | ​ | $ | 3.2 | ​ | $ | 2.8

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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration