10-Q Filing

KRONOS WORLDWIDE INC CIK: 1257640 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-007049`
Period End Date	20220331
Filing Date	20220504
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	kro-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 40 Cash Flow Statement 59 Stockholders Equity 15 Comprehensive Income 8

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$406.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$350.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.80M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.10M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$416.40M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$379.10M	USD	Point-in-time
Inventories, net	`InventoryNet`	$464.20M	USD	Point-in-time
Inventories, net	`InventoryNet`	$432.30M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$47.10M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$38.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.26B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.28B	USD	Point-in-time
Investment in TiO2 manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$105.70M	USD	Point-in-time
Investment in TiO2 manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$101.90M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$4.50M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$4.40M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$4.20M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$4.30M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$19.90M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$21.50M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$106.80M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$101.40M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$14.70M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$14.10M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$252.00M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$251.40M	USD	Point-in-time
Land	`Land`	$43.80M	USD	Point-in-time
Land	`Land`	$43.90M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$221.80M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$222.20M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.12B	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.12B	USD	Point-in-time
Mining properties	`MiningProperties`	$133.50M	USD	Point-in-time
Mining properties	`MiningProperties`	$129.60M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$80.40M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$72.70M	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.59B	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.60B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.10B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.09B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$503.40M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$503.80M	USD	Point-in-time
Total assets	`Assets`	$2.04B	USD	Point-in-time
Total assets	`Assets`	$2.01B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.40M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.40M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$275.10M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$261.00M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$12.30M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$18.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$288.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$281.10M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$449.80M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$443.80M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$282.30M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$287.40M	USD	Point-in-time
Payable to affiliate - income taxes	`DueToAffiliateNoncurrent`	$44.70M	USD	Point-in-time
Payable to affiliate - income taxes	`DueToAffiliateNoncurrent`	$44.70M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$15.80M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$17.20M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$28.10M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$26.30M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$26.30M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$28.00M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$853.80M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$840.60M	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	`AdditionalPaidInCapitalCommonStock`	$1.40B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.40B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-122.10M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-86.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-395.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-404.10M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$200.00K	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$1.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$800.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$913.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$870.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$796.50M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.01B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.04B	USD	Point-in-time
Commitments and contingencies (Notes 10 and 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 10 and 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$562.90M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$465.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$413.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$369.30M	USD	1 Quarter
Gross margin	`GrossProfit`	$95.70M	USD	1 Quarter
Gross margin	`GrossProfit`	$149.30M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$61.40M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$58.00M	USD	1 Quarter
Currency transactions, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-500.00K	USD	1 Quarter
Currency transactions, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.50M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-3.10M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-3.20M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$34.00M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$83.30M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$100.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$100.00K	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$800.00K	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$100.00K	USD	1 Quarter
Other components of net periodic pension and OPEB cost	`DefinedBenefitPlanOtherCosts`	$4.30M	USD	1 Quarter
Other components of net periodic pension and OPEB cost	`DefinedBenefitPlanOtherCosts`	$3.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.50M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$25.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$75.80M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$18.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$57.50M	USD	1 Quarter
Net income - basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$57.50M	USD	1 Quarter
Net income - basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$19.60M	USD	1 Quarter
Net income - diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$57.50M	USD	1 Quarter
Net income - diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$19.60M	USD	1 Quarter
Net income per basic share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net income per basic share	`EarningsPerShareBasic`	$0.50	USD	1 Quarter
Net income per diluted share	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Net income per diluted share	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	115.50M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	115.50M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.50M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.50M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$19.60M	USD	1 Quarter
Net income	`ProfitLoss`	$57.50M	USD	1 Quarter
Depreciation	`Depreciation`	$12.90M	USD	1 Quarter
Depreciation	`Depreciation`	$12.70M	USD	1 Quarter
Amortization of operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$1.70M	USD	1 Quarter
Amortization of operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$1.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$200.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.70M	USD	1 Quarter
Benefit plan expense greater than cash funding	`PensionAndOtherPostretirementBenefitExpense`	$1.60M	USD	1 Quarter
Benefit plan expense greater than cash funding	`PensionAndOtherPostretirementBenefitExpense`	$3.70M	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$800.00K	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$100.00K	USD	1 Quarter
Contributions to TiO2 manufacturing joint venture, net	`EquityMethodInvestmentDistributionsFromContributionsToNet`	$-3.40M	USD	1 Quarter
Contributions to TiO2 manufacturing joint venture, net	`EquityMethodInvestmentDistributionsFromContributionsToNet`	$-3.80M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-1.60M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-100.00K	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$41.20M	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$23.50M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-35.60M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$32.80M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.90M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.00M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-25.20M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$500.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.40M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$900.00K	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$-9.80M	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$-4.20M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-500.00K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-200.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$56.70M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-18.60M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.20M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$200.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$200.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$21.90M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$20.80M	USD	1 Quarter
Treasury stock acquired	`PaymentsForRepurchaseOfCommonStock`	$1.10M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.20M	USD	1 Quarter
Operating, investing and financing activities	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$24.90M	USD	1 Quarter
Operating, investing and financing activities	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-56.00M	USD	1 Quarter
Effect of currency exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-7.00M	USD	1 Quarter
Effect of currency exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-400.00K	USD	1 Quarter
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$412.60M	USD	Point-in-time
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$356.20M	USD	Point-in-time
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$362.00M	USD	Point-in-time
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$379.90M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$412.60M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$356.20M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$362.00M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$379.90M	USD	Point-in-time
Interest, net of amount capitalized	`InterestPaidNet`	$9.20M	USD	1 Quarter
Interest, net of amount capitalized	`InterestPaidNet`	$8.30M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$5.50M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$3.90M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$3.80M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$2.50M	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$800.90M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$913.60M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$870.20M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$796.50M	USD	Point-in-time
Net income	`NetIncomeLoss`	$19.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$57.50M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$8.90M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$5.60M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$20.80M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$21.90M	USD	1 Quarter
Treasury stock acquired	`TreasuryStockValueAcquiredCostMethod`	$1.10M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$800.90M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$913.60M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$870.20M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$796.50M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$19.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$57.50M	USD	1 Quarter
Currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.20M	USD	1 Quarter
Currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$6.60M	USD	1 Quarter
Total other comprehensive income, net	`OtherComprehensiveIncomeLossNetOfTax`	$8.90M	USD	1 Quarter
Total other comprehensive income, net	`OtherComprehensiveIncomeLossNetOfTax`	$5.60M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$66.40M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$25.20M	USD	1 Quarter

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