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Restructuring costs | 12 Months Ended
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Dec. 31, 2024
Restructuring costs |
Restructuring costs | Note 20 – Restructuring costs: In response to the extended period of reduced demand in 2023, Kronos took measures to reduce its operating costs and improve its long-term cost structure such as the implementation of certain voluntary and involuntary workforce reductions during the third quarter of 2023 that primarily impacted its European operations. A substantial portion of Kronos’ workforce reductions were accomplished through voluntary programs, for which eligible workforce reduction costs are recognized at the time both the employee and employer are irrevocably committed to the terms of the separation. These workforce reductions impacted approximately 100 employees. Kronos recognized a total of approximately $6 million in charges primarily in the fourth quarter of 2023 related to workforce reductions it implemented during the second ha l f o f 2023. In the third quarter of 2024, Kronos closed its sulfate process line at its facility in Varennes, Canada. As a result of the sulfate process line closure, Kronos recognized charges to cost of sales in 2024 of approximately $2 million related to workforce reductions for employees impacted and approximately $14 million in non-cash charges primarily related to accelerated depreciation. ​ A summary of the activity in Kronos’ accrued restructuring costs for 2023 and 2024 is shown in the table below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ | ​ | 2023 | ​ | 2024
​ | ​ | (in millions)
Changes in accrued workforce reduction costs: | ​ | ​ | ​ | ​ | ​ | ​
Balances at beginning of the year | ​ | $ | — | ​ | $ | 5.0
Workforce reduction costs accrued | ​ | ​ | 5.8 | ​ | ​ | 2.0
Workforce reduction costs paid | ​ | ​ | (.9) | ​ | ​ | (6.0)
Currency translation adjustments, net | ​ | ​ | .1 | ​ | ​ | (.1)
Balance at the end of the year | ​ | $ | 5.0 | ​ | $ | .9
​ | ​ | ​ | ​ | ​ | ​ | ​
Amounts recognized in the balance sheet: | ​ | ​ | ​ | ​ | ​ | ​
Current liability | ​ | $ | 5.0 | ​ | $ | .9
Noncurrent liability | ​ | ​ | — | ​ | ​ | —
​ | ​ | $ | 5.0 | ​ | $ | .9
​

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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