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Income taxes | 3 Months Ended
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Mar. 31, 2013
Income Tax Disclosure [Abstract] |
Income taxes | Note 13—Income taxes:
|  | Three months ended March 31, |
|  | 2012 |  |  | 2013 |
|  | (In millions) |
Expected tax expense (benefit), at U.S. federal statutory income tax rate of 35% |  | $ | 62.2 |  |  | $ | (24.5 | )
Incremental tax on earnings of non-U.S. companies |  |  | 4.0 |  |  |  | (1.4 | )
Non-U.S. tax rates |  |  | (7.7 | ) |  |  | (.4 | )
Adjustment to the reserve for uncertain tax positions, net |  |  | .5 |  |  |  | 2.0 |
Nondeductible expenses |  |  | .6 |  |  |  | 2.5 |
U.S. state income taxes and other, net |  |  | (.6 | ) |  |  | — |
Income tax expense (benefit) |  | $ | 59.0 |  |  | $ | (21.8 | )
|  | Three months ended March 31, |
|  | 2012 |  |  | 2013 |
|  | (In millions) |
Comprehensive provision for income taxes (benefit) allocable to: |  |  |  |  |  |  |  |
Continuing operations |  | $ | 59.0 |  |  | $ | (21.8 | )
Discontinued operations |  |  | .6 |  |  |  | — |
Other comprehensive income (loss): |  |  |  |  |  |  |  |
Marketable securities |  |  | (5.6 | ) |  |  | 3.6 |
Currency translation |  |  | — |  |  |  | (3.8 | )
Pension plans |  |  | .8 |  |  |  | 1.2 |
OPEB plans |  |  | (.2 | ) |  |  | (.2 | )
Total |  | $ | 54.6 |  |  | $ | (21.0 | )
Tax authorities are examining certain of our U.S. and non-U.S. tax returns and have or may propose tax deficiencies, including penalties and interest. Because of the inherent uncertainties involved in settlement initiatives and court and tax proceedings, we cannot guarantee that these matters will be resolved in our favor, and therefore our potential exposure, if any, is also uncertain. In 2011 and 2012, Kronos received notices of re-assessment from the Canadian federal and provincial tax authorities related to the years 2002 through 2004. We object to the re-assessments and believe the position is without merit. Accordingly, we are appealing the re-assessments and in connection with such appeal we were required to post letters of credit aggregating Cdn. $7.5 million (see Note 10). If the full amount of the proposed adjustment were ultimately to be assessed against us, the cash tax liability would be approximately $15.7 million. We believe we have adequate accruals for additional taxes and related interest expense which could ultimately result from tax examinations. We believe the ultimate disposition of tax examinations should not have a material adverse effect on our consolidated financial position, results of operations or liquidity. We currently estimate that our unrecognized tax benefits will change by $4.4 million during the next twelve months related to certain adjustments to our prior year returns and the expiration of certain statutes of limitations.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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