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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Component of Income Taxes | The provision for income taxes and the difference between such provision for income taxes, the amount that would be expected using the U.S. federal statutory income tax rate of 35% and the comprehensive provision for income taxes are presented below.
| Years ended December 31, |
| 2014 |  |  | 2015 |  |  | 2016 |
| (In millions) |
Expected tax expense (benefit), at U.S. federal statutory income tax rate of 35% | $ | 12.1 |  |  | $ | (18.0 | ) |  | $ | 4.9 |
Rate differences on equity in earnings (losses) of Kronos |  | (7.4 | ) |  |  | (7.4 | ) |  |  | (7.4 | )
Adjustment to the reserve for uncertain tax positions, net |  | - |  |  |  | (3.0 | ) |  |  | - |
U.S. state income taxes and other, net |  | .3 |  |  |  | (.2 | ) |  |  | (.3 | )
Income tax expense (benefit) | $ | 5.0 |  |  | $ | (28.6 | ) |  | $ | (2.8 | )
Components of income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |
Currently payable (receivable): | $ | .8 |  |  | $ | .1 |  |  | $ | 1.5 |
Deferred income tax expense (benefit) |  | 4.2 |  |  |  | (28.7 | ) |  |  | (4.3 | )
Income tax expense (benefit) | $ | 5.0 |  |  | $ | (28.6 | ) |  | $ | (2.8 | )
Comprehensive provision for income taxes (benefit) allocable to: |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations | $ | 5.0 |  |  | $ | (28.6 | ) |  | $ | (2.8 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | (57.6 | ) |  |  | (25.3 | ) |  |  | 10.9 |
Currency translation |  | (11.0 | ) |  |  | (9.8 | ) |  |  | (1.8 | )
Interest rate swap |  | - |  |  |  | (.2 | ) |  |  | - |
Pension plans |  | (10.0 | ) |  |  | 1.4 |  |  |  | (2.1 | )
OPEB plans |  | (.5 | ) |  |  | (.2 | ) |  |  | (.2 | )
Total | $ | (74.1 | ) |  | $ | (62.7 | ) |  | $ | 4.0 |
Components of Net Deferred Tax Liability | The components of the net deferred tax liability at December 31, 2015 and 2016 are summarized in the following table.
| Years ended December 31, |
| 2015 |  |  | 2016 |
| Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
| (In millions) |
Tax effect of temporary differences related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inventories | $ | .5 |  |  | $ | - |  |  | $ | .5 |  |  | $ | - |
Marketable securities |  | - |  |  |  | (6.4 | ) |  |  | - |  |  |  | (17.0 | )
Property and equipment |  | - |  |  |  | (4.5 | ) |  |  | - |  |  |  | (4.4 | )
Accrued OPEB costs |  | 1.1 |  |  |  | - |  |  |  | 1.0 |  |  |  | - |
Accrued pension costs |  | 4.6 |  |  |  | - |  |  |  | 4.2 |  |  |  | - |
Accrued employee benefits |  | 2.0 |  |  |  | - |  |  |  | 1.9 |  |  |  | - |
Accrued environmental liabilities |  | 39.9 |  |  |  | - |  |  |  | 41.1 |  |  |  | - |
Goodwill |  | - |  |  |  | (2.6 | ) |  |  | - |  |  |  | (2.6 | )
Other accrued liabilities and deductible differences |  | .4 |  |  |  | - |  |  |  | .2 |  |  |  | - |
Other taxable differences |  | - |  |  |  | (4.3 | ) |  |  | - |  |  |  | (3.3 | )
Investment in Kronos Worldwide, Inc. |  | - |  |  |  | (56.2 | ) |  |  | - |  |  |  | (49.0 | )
Tax loss and tax credit carryforwards |  | .5 |  |  |  | - |  |  |  | - |  |  |  | - |
Adjusted gross deferred tax assets (liabilities) |  | 49.0 |  |  |  | (74.0 | ) |  |  | 48.9 |  |  |  | (76.3 | )
Netting of items by tax jurisdiction |  | (49.0 | ) |  |  | 49.0 |  |  |  | (48.9 | ) |  |  | 48.9 |
Net noncurrent deferred tax asset (liability) | $ | - |  |  | $ | (25.0 | ) |  | $ | - |  |  | $ | (27.4 | )
Schedule of 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) during 2014, 2015 and 2016:
| December 31, |
| 2014 |  |  | 2015 |  |  | 2016 |
| (In millions) |
Unrecognized liabilities: |  |  |  |  |  |  |  |  |  |  |
Balance at the beginning of the period | $ | 16.8 |  |  | $ | 16.8 |  |  | $ | 12.2 |
Lapse of applicable statute of limitations |  | - |  |  |  | (4.6 | ) |  |  | - |
Balance at the end of the period | $ | 16.8 |  |  | $ | 12.2 |  |  | $ | 12.2 |

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