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Investment in Kronos Worldwide, Inc. (Tables) | 12 Months Ended
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Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract] |
Changes in Carrying Value of Investment | The change in the carrying value of our investment in Kronos during the past three years is summarized below:
| Years ended December 31, |
| 2017 |  |  | 2018 |  |  | 2019 |
| (In millions) |
Balance at the beginning of the year | $ | 120.3 |  |  | $ | 229.5 |  |  | $ | 255.5 |
Equity in earnings of Kronos |  | 107.8 |  |  |  | 62.3 |  |  |  | 26.5 |
Dividends received from Kronos |  | (21.1 | ) |  |  | (23.9 | ) |  |  | (25.4 | )
Equity in Kronos' other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Currency translation |  | 17.5 |  |  |  | (10.1 | ) |  |  | (.5 | )
Defined benefit pension plans |  | 3.6 |  |  |  | (2.2 | ) |  |  | (6.7 | )
Other postretirement benefit plans |  | (.2 | ) |  |  | (.1 | ) |  |  | (.1 | )
Marketable securities |  | .9 |  |  |  | - |  |  |  | - |
Interest rate swap |  | .6 |  |  |  | - |  |  |  | - |
Other |  | .1 |  |  |  | - |  |  |  | (.9 | )
Balance at the end of the year | $ | 229.5 |  |  | $ | 255.5 |  |  | $ | 248.4 |
Selected Financial Information of Kronos Balance Sheet | Selected financial information of Kronos is summarized below:
| December 31, |
| 2018 |  |  | 2019 |
| (In millions) |
Current assets | $ | 1,201.4 |  |  | $ | 1,219.7 |
Property and equipment, net |  | 486.4 |  |  |  | 490.6 |
Investment in TiO2 joint venture |  | 81.3 |  |  |  | 90.2 |
Other noncurrent assets |  | 129.0 |  |  |  | 165.3 |
Total assets | $ | 1,898.1 |  |  | $ | 1,965.8 |
Current liabilities | $ | 233.4 |  |  | $ | 270.6 |
Long-term debt |  | 455.1 |  |  |  | 444.0 |
Accrued pension costs |  | 262.9 |  |  |  | 307.4 |
Other noncurrent liabilities |  | 106.9 |  |  |  | 127.7 |
Stockholders' equity |  | 839.8 |  |  |  | 816.1 |
Total liabilities and stockholders' equity | $ | 1,898.1 |  |  | $ | 1,965.8 |
Selected Financial Information of Kronos Income Statement |
| Years ended December 31, |
| 2017 |  |  | 2018 |  |  | 2019 |
| (In millions) |
Net sales | $ | 1,729.0 |  |  | $ | 1,661.9 |  |  | $ | 1,731.1 |
Cost of sales |  | 1,159.3 |  |  |  | 1,099.7 |  |  |  | 1,344.9 |
Income from operations |  | 347.8 |  |  |  | 330.1 |  |  |  | 145.8 |
Income tax expense (benefit) |  | (48.8 | ) |  |  | 88.8 |  |  |  | 34.0 |
Net income |  | 354.5 |  |  |  | 205.0 |  |  |  | 87.1 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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