XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Investment in Kronos Worldwide, Inc. | 9 Months Ended
--- | ---
Sep. 30, 2016
Equity Method Investments And Joint Ventures [Abstract] |
Investment in Kronos Worldwide, Inc. | Note 5 – Investment in Kronos Worldwide, Inc.: At December 31, 2015 and September 30, 2016, we owned approximately 35.2 million shares of Kronos common stock. At September 30, 2016, the quoted market price of Kronos’ common stock was $8.29 per share, or an aggregate market value of $292.0 million. At December 31, 2015, the quoted market price was $5.64 per share, or an aggregate market value of $198.6 million. The change in the carrying value of our investment in Kronos during the first nine months of 2016 is summarized below.
| Amount |
| (In millions) |
Balance at the beginning of the period | $ | 140.7 |
Equity in earnings of Kronos |  | 6.1 |
Dividends received from Kronos |  | (15.8 | )
Equity in Kronos' other comprehensive income (loss): |  |  |
Marketable securities |  | .3 |
Currency translation |  | 5.6 |
Interest rate swap |  | (.9 | )
Defined benefit pension plans |  | 2.6 |
Balance at the end of the period | $ | 138.6 |
Selected financial information of Kronos is summarized below:
| December 31, |  |  | September 30, |
| 2015 |  |  | 2016 |
| (In millions) |
Current assets | $ | 710.8 |  |  | $ | 690.5 |
Property and equipment, net |  | 429.5 |  |  |  | 446.6 |
Investment in TiO2 joint venture |  | 82.9 |  |  |  | 79.8 |
Other noncurrent assets |  | 19.5 |  |  |  | 24.6 |
Total assets | $ | 1,242.7 |  |  | $ | 1,241.5 |
Current liabilities | $ | 201.7 |  |  | $ | 206.5 |
Long-term debt |  | 337.2 |  |  |  | 336.0 |
Accrued pension and postretirement benefits |  | 209.4 |  |  |  | 210.3 |
Other noncurrent liabilities |  | 32.5 |  |  |  | 33.8 |
Stockholders' equity |  | 461.9 |  |  |  | 454.9 |
Total liabilities and stockholders' equity | $ | 1,242.7 |  |  | $ | 1,241.5 |
| Three months ended |  |  | Nine months ended |
| September 30, |  |  | September 30, |
| 2015 |  |  | 2016 |  |  | 2015 |  |  | 2016 |
| (In millions) |
Net sales | $ | 336.5 |  |  | $ | 356.1 |  |  | $ | 1,061.8 |  |  | $ | 1,030.6 |
Cost of sales |  | 293.3 |  |  |  | 280.6 |  |  |  | 894.7 |  |  |  | 859.2 |
Income (loss) from operations |  | (3.2 | ) |  |  | 28.0 |  |  |  | 18.6 |  |  |  | 38.2 |
Income tax expense (benefit) |  | (7.4 | ) |  |  | 0.7 |  |  |  | 147.1 |  |  |  | 3.2 |
Net income (loss) |  | (11.8 | ) |  |  | 22.2 |  |  |  | (153.2 | ) |  |  | 20.1 |

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration