XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.21.2

Investment in Kronos Worldwide, Inc. (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
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 first six months of 2021 is summarized below.
| Amount |
| (In millions) |
Balance at the beginning of the period | $ | 242.4 |
Equity in earnings of Kronos |  | 13.8 |
Dividends received from Kronos |  | (12.7 | )
Equity in Kronos' other comprehensive income: |  |  |
Currency translation |  | 1.3 |
Defined benefit pension plans |  | 2.1 |
Balance at the end of the period | $ | 246.9 |
Selected Financial Information of Kronos Balance Sheet | Selected financial information of Kronos is summarized below:
| December 31, |  |  | June 30, |
| 2020 |  |  | 2021 |
| (In millions) |
Current assets | $ | 1,218.3 |  |  | $ | 1,159.1 |
Property and equipment, net |  | 524.6 |  |  |  | 509.5 |
Investment in TiO2 joint venture |  | 103.3 |  |  |  | 103.5 |
Other noncurrent assets |  | 190.5 |  |  |  | 184.8 |
Total assets | $ | 2,036.7 |  |  | $ | 1,956.9 |
Current liabilities | $ | 260.2 |  |  | $ | 201.8 |
Long-term debt |  | 486.7 |  |  |  | 472.5 |
Accrued pension costs |  | 372.6 |  |  |  | 359.0 |
Other noncurrent liabilities |  | 120.7 |  |  |  | 112.4 |
Stockholders' equity |  | 796.5 |  |  |  | 811.2 |
Total liabilities and stockholders' equity | $ | 2,036.7 |  |  | $ | 1,956.9 |
Selected Financial Information of Kronos Income Statement |
| Three months ended |  |  | Six months ended |
| June 30, |  |  | June 30, |
| 2020 |  |  | 2021 |  |  | 2020 |  |  | 2021 |
| (In millions) |
Net sales | $ | 386.0 |  |  | $ | 478.6 |  |  | $ | 807.0 |  |  | $ | 943.6 |
Cost of sales |  | 290.2 |  |  |  | 369.6 |  |  |  | 623.1 |  |  |  | 738.9 |
Income from operations |  | 33.0 |  |  |  | 43.8 |  |  |  | 76.5 |  |  |  | 77.8 |
Income tax expense |  | 5.1 |  |  |  | 9.2 |  |  |  | 13.5 |  |  |  | 15.2 |
Net income |  | 18.6 |  |  |  | 25.7 |  |  |  | 45.6 |  |  |  | 45.3 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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 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
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration