10-Q Filing

KRONOS WORLDWIDE INC CIK: 1257640 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-207762`
Period End Date	20130331
Filing Date	20130508
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	kro-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 32 Cash Flow Statement 64 Stockholders Equity 9 Comprehensive Income 12

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$282.70M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.70M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$387.00M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$285.80M	USD	Point-in-time
Inventories, net	`InventoryNet`	$531.30M	USD	Point-in-time
Inventories, net	`InventoryNet`	$638.30M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$9.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$9.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$4.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$4.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.22B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.04B	USD	Point-in-time
Investment in TiO2manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$109.90M	USD	Point-in-time
Investment in TiO2manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$100.10M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$21.60M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$27.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$168.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$120.50M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$25.10M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$29.10M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$321.60M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$281.10M	USD	Point-in-time
Land	`Land`	$45.20M	USD	Point-in-time
Land	`Land`	$43.60M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$238.90M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$231.70M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.05B	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.08B	USD	Point-in-time
Mining properties	`MiningProperties`	$131.30M	USD	Point-in-time
Mining properties	`MiningProperties`	$124.80M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$41.70M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$37.30M	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.54B	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.49B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.01B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$989.80M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$522.50M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$503.20M	USD	Point-in-time
Total assets	`Assets`	$1.86B	USD	Point-in-time
Total assets	`Assets`	$2.03B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$21.10M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$21.20M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$273.20M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$266.60M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$23.10M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$31.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$10.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$10.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$328.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$329.80M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$378.90M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$278.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$42.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$24.00M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$189.20M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$181.50M	USD	Point-in-time
Accrued postretirement benefit cost	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$14.10M	USD	Point-in-time
Accrued postretirement benefit cost	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$14.00M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$30.30M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$31.40M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$636.50M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$548.00M	USD	Point-in-time
Common stock	`CommonStockValue`	$1.20M	USD	Point-in-time
Common stock	`CommonStockValue`	$1.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.40B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.40B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-199.60M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-141.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-185.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-218.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-174.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-197.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.06B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$982.50M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.03B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.86B	USD	Point-in-time
Commitments and contingencies (Notes 8 and 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 8 and 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$561.30M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$463.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$299.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$459.70M	USD	1 Quarter
Gross margin	`GrossProfit`	$261.50M	USD	1 Quarter
Gross margin	`GrossProfit`	$3.90M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$49.40M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$48.80M	USD	1 Quarter
Currency transaction gains, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.80M	USD	1 Quarter
Currency transaction gains, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$100.00K	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-3.40M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-3.20M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$209.40M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-46.90M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$2.30M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$300.00K	USD	1 Quarter
Loss on prepayment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-6.60M	USD	1 Quarter
Loss on prepayment of debt	`GainsLossesOnExtinguishmentOfDebt`	$6.60M	USD	Point-in-time
Interest expense	`InterestExpense`	$6.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.40M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$205.40M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-59.60M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-18.50M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$68.50M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-41.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$136.90M	USD	1 Quarter
Net income (loss) per basic and diluted share	`EarningsPerShareBasicAndDiluted`	$1.18	USD	1 Quarter
Net income (loss) per basic and diluted share	`EarningsPerShareBasicAndDiluted`	$-0.35	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.15	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.15	USD	1 Quarter
Weighted-average shares outstanding used in the calculation of net income (loss) per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	115.90M	shares	1 Quarter
Weighted-average shares outstanding used in the calculation of net income (loss) per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	115.90M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-41.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$136.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.90M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$24.10M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-32.70M	USD	1 Quarter
Loss on prepayment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-6.60M	USD	1 Quarter
Loss on prepayment of debt	`GainsLossesOnExtinguishmentOfDebt`	$6.60M	USD	Point-in-time
Defined benefit pension plan expense greater (less) than cash funding	`DefinedBenefitPensionExpense`	$1.40M	USD	1 Quarter
Defined benefit pension plan expense greater (less) than cash funding	`DefinedBenefitPensionExpense`	$-100.00K	USD	1 Quarter
Distributions from (contributions to) TiO2manufacturing joint venture, net	`DividendsOrDistributionsFromEquityMethodInvestments`	$9.80M	USD	1 Quarter
Distributions from (contributions to) TiO2manufacturing joint venture, net	`DividendsOrDistributionsFromEquityMethodInvestments`	$-18.80M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$400.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$2.40M	USD	1 Quarter
Accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-83.00M	USD	1 Quarter
Accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-162.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$93.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-126.10M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$500.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-800.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$33.00M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-13.70M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.90M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$16.40M	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$-59.70M	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$29.60M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.40M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.40M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.30M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-104.70M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.30M	USD	1 Quarter
Change in restricted cash, net	`IncreaseDecreaseInRestrictedCash`	$1.60M	USD	1 Quarter
Change in restricted cash, net	`IncreaseDecreaseInRestrictedCash`	$-700.00K	USD	1 Quarter
Loans	`PaymentsToFundLongtermLoansToRelatedParties`	$43.90M	USD	1 Quarter
Collections	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$27.90M	USD	1 Quarter
Proceeds from sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$21.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.80M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.30M	USD	1 Quarter
Borrowings	`ProceedsFromLongTermLinesOfCredit`	$107.40M	USD	1 Quarter
Borrowings	`ProceedsFromLongTermLinesOfCredit`	$191.80M	USD	1 Quarter
Principal payments	`RepaymentsOfLongTermDebt`	$400.00K	USD	1 Quarter
Principal payments	`RepaymentsOfLongTermDebt`	$295.30M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$17.40M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$17.40M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$89.60M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-120.90M	USD	1 Quarter
Operating, investing and financing activities	`NetCashUsedInProvidedByOperatingInvestingAndFinancingActivities`	$-34.90M	USD	1 Quarter
Operating, investing and financing activities	`NetCashUsedInProvidedByOperatingInvestingAndFinancingActivities`	$-178.50M	USD	1 Quarter
Currency translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.00M	USD	1 Quarter
Currency translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$300.00K	USD	1 Quarter
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.50M	USD	Point-in-time
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.90M	USD	Point-in-time
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$102.20M	USD	Point-in-time
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$282.70M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.50M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.90M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$102.20M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$282.70M	USD	Point-in-time
Interest	`InterestPaidNet`	$5.90M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$30.80M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$14.00M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$1.80M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$4.10M	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.06B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$982.50M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-41.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$136.90M	USD	1 Quarter
Other comprehensive loss, net	`OtherComprehensiveIncomeLossNetOfTax`	$-21.10M	USD	1 Quarter
Other comprehensive loss, net	`OtherComprehensiveIncomeLossNetOfTax`	$11.10M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$17.40M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.06B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$982.50M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-41.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$136.90M	USD	1 Quarter
Marketable securities adjustment	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-7.20M	USD	1 Quarter
Marketable securities adjustment	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$3.70M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$16.60M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-27.30M	USD	1 Quarter
Pension plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-1.70M	USD	1 Quarter
Pension plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-2.50M	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-21.10M	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$11.10M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$148.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-62.20M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.