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Long-Term Debt | 9 Months Ended
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Sep. 30, 2016
Debt Disclosure [Abstract] |
Long-Term Debt | Note 10—Long-term debt:
| December 31, 2015 |  |  | September 30, 2016 |
| (In millions) |
Valhi: |  |  |  |  |  |  |
Snake River Sugar Company | $ | 250.0 |  |  | $ | 250.0 |
Contran credit facility |  | 263.8 |  |  |  | 288.3 |
Total Valhi debt |  | 513.8 |  |  |  | 538.3 |
Subsidiary debt: |  |  |  |  |  |  |
Kronos: |  |  |  |  |  |  |
Term loan |  | 338.0 |  |  |  | 336.4 |
Revolving North American credit facility |  | — |  |  |  | 18.5 |
WCS: |  |  |  |  |  |  |
Financing capital lease |  | 65.6 |  |  |  | 64.4 |
Tremont: |  |  |  |  |  |  |
Promissory note payable |  | 17.1 |  |  |  | 17.1 |
BMI: |  |  |  |  |  |  |
Bank note payable |  | 9.3 |  |  |  | 8.6 |
LandWell: |  |  |  |  |  |  |
Note payable to the City of Henderson |  | 3.1 |  |  |  | 3.1 |
Other |  | 13.6 |  |  |  | 11.6 |
Total subsidiary debt |  | 446.7 |  |  |  | 459.7 |
Total debt |  | 960.5 |  |  |  | 998.0 |
Less current maturities |  | 9.5 |  |  |  | 26.9 |
Total long-term debt | $ | 951.0 |  |  | $ | 971.1 |
Valhi – Contran credit facility – During the first nine months of 2016, we had net borrowings of $24.5 million under our Contran credit facility. The average interest rate on the existing balance as of and for the nine months ended September 30, 2016 was 4.5%. At September 30, 2016, the equivalent of $36.7 million was available for borrowing under this facility, subject to Contran’s discretion. Kronos – Term loan – During the first nine months of 2016, Kronos made its required quarterly term loan principal payments aggregating $2.6 million. The average interest rate on the term loan borrowings as of and for the nine months ended September 30, 2016 was 4.0%. The carrying value of the term loan at September 30, 2016 is stated net of unamortized original issue discount of $1.0 million and debt issuance costs of $3.8 million. See Note 17 for a discussion of the interest rate swap Kronos entered into in 2015 pursuant to its interest rate risk strategy. Revolving credit facilities – Kronos’ European revolving credit facility requires the maintenance of certain financial ratios, and one of such requirements is based on the ratio of net debt to last twelve months earnings before income tax, interest, depreciation and amortization expense (“EBITDA”) of the borrowers. Based upon the borrowers’ last twelve months EBITDA as of September 30, 2016 and the net debt to EBITDA financial test, Kronos’ borrowing availability at September 30, 2016 is approximately 22% of the credit facility, €26.4 million ($29.6 million). During the first nine months of 2016, Kronos borrowed a net $18.5 million under its North American revolving credit facility. The average interest rate on outstanding borrowings as of and for the nine months ended September 30, 2016 was 4.25% and 4.13%, respectively. In addition, at September 30, 2016 Kronos had approximately $57.4 million available for borrowing under its North American revolving facility. Restrictions and other – Certain of the credit facilities with unrelated, third-party lenders described above require the respective borrowers to maintain minimum levels of equity, require the maintenance of certain financial ratios, limit dividends and additional indebtedness and contain other provisions and restrictive covenants customary in lending transactions of this type. We are in compliance with all of our debt covenants at September 30, 2016.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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