10-Q Filing

KRONOS WORLDWIDE INC CIK: 1257640 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-018320`
Period End Date	20160331
Filing Date	20160506
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	kro-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 30 Cash Flow Statement 59 Stockholders Equity 9 Comprehensive Income 11

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$167.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$92.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$121.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.50M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.30M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.80M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$252.90M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$220.80M	USD	Point-in-time
Inventories, net	`InventoryNet`	$377.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$387.20M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$8.50M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$8.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$695.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$710.80M	USD	Point-in-time
Investment in TiO2 manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$82.90M	USD	Point-in-time
Investment in TiO2 manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$83.70M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$2.10M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$2.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$14.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$15.80M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$3.10M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$3.10M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$102.40M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$104.70M	USD	Point-in-time
Land	`Land`	$38.70M	USD	Point-in-time
Land	`Land`	$37.80M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$197.40M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$202.70M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$941.60M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$969.00M	USD	Point-in-time
Mining properties	`MiningProperties`	$102.60M	USD	Point-in-time
Mining properties	`MiningProperties`	$111.10M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$29.20M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$33.60M	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.36B	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.31B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$879.10M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$913.80M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$441.30M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$429.50M	USD	Point-in-time
Total assets	`Assets`	$1.24B	USD	Point-in-time
Total assets	`Assets`	$1.24B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$3.80M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$3.70M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$192.20M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$182.10M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$5.70M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$3.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$188.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$201.70M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$337.20M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$346.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$8.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$8.30M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$206.70M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$202.70M	USD	Point-in-time
Accrued postretirement benefits cost	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$6.70M	USD	Point-in-time
Accrued postretirement benefits cost	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$7.00M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$29.40M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$24.40M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$579.10M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$597.50M	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`	$-526.00M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-547.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-399.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-397.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-335.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-412.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$461.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$454.80M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.24B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.24B	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 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$365.10M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$318.40M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$287.70M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$278.00M	USD	1 Quarter
Gross margin	`GrossProfit`	$77.40M	USD	1 Quarter
Gross margin	`GrossProfit`	$40.40M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$41.10M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$43.40M	USD	1 Quarter
Currency transaction gains, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.60M	USD	1 Quarter
Currency transaction gains, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$2.30M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-3.40M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-1.90M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-300.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$32.20M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$200.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$200.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.10M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.20M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.80M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$9.40M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-1.40M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$18.40M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Net income (loss) per basic and diluted share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net income (loss) per basic and diluted share	`EarningsPerShareBasicAndDiluted`	$0.16	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 used in the calculation of net income (loss) per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	115.90M	shares	1 Quarter
Weighted average shares used in the calculation of net income (loss) per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	115.90M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$18.40M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-200.00K	USD	1 Quarter
Benefit plan expense greater than cash funding	`PensionAndOtherPostretirementBenefitExpense`	$2.00M	USD	1 Quarter
Distributions from (contributions to) TiO2 manufacturing joint venture, net	`EquityMethodInvestmentDistributionsFromContributionsToNet`	$-800.00K	USD	1 Quarter
Distributions from (contributions to) TiO2 manufacturing joint venture, net	`EquityMethodInvestmentDistributionsFromContributionsToNet`	$11.20M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$1.60M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-3.30M	USD	1 Quarter
Accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$16.50M	USD	1 Quarter
Accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$40.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-19.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.30M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$300.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-800.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-18.60M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.90M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.10M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.20M	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$-13.30M	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$17.90M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-100.00K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-100.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-15.30M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.70M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.30M	USD	1 Quarter
Change in restricted cash, net	`IncreaseDecreaseInRestrictedCashAndInvestments`	$-700.00K	USD	1 Quarter
Change in restricted cash, net	`IncreaseDecreaseInRestrictedCashAndInvestments`	$-600.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-13.70M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.00M	USD	1 Quarter
Borrowings	`ProceedsFromLongTermLinesOfCredit`	$9.20M	USD	1 Quarter
Borrowings	`ProceedsFromLongTermLinesOfCredit`	$1.30M	USD	1 Quarter
Principal payments	`RepaymentsOfLongTermDebt`	$900.00K	USD	1 Quarter
Principal payments	`RepaymentsOfLongTermDebt`	$1.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$17.40M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$17.40M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-17.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-9.20M	USD	1 Quarter
Operating, investing and financing activities	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-38.00M	USD	1 Quarter
Operating, investing and financing activities	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-38.20M	USD	1 Quarter
Currency translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.20M	USD	1 Quarter
Currency translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.30M	USD	1 Quarter
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$167.70M	USD	Point-in-time
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$92.50M	USD	Point-in-time
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$121.40M	USD	Point-in-time
Balance at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.50M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$167.70M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$92.50M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$121.40M	USD	Point-in-time
Balance at end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.50M	USD	Point-in-time
Interest, net of amount capitalized	`InterestPaidNet`	$4.60M	USD	1 Quarter
Interest, net of amount capitalized	`InterestPaidNet`	$4.40M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$6.90M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$2.70M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$2.00M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$2.60M	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$461.90M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$454.80M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$18.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-63.60M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$14.10M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$17.40M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$461.90M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$454.80M	USD	Point-in-time

Comprehensive Income 11 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$18.40M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$14.40M	USD	1 Quarter
Currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-65.60M	USD	1 Quarter
Marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-500.00K	USD	1 Quarter
Marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-200.00K	USD	1 Quarter
Interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-2.80M	USD	1 Quarter
Total other comprehensive income (loss), net	`OtherComprehensiveIncomeLossNetOfTax`	$-63.60M	USD	1 Quarter
Total other comprehensive income (loss), net	`OtherComprehensiveIncomeLossNetOfTax`	$14.10M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-45.20M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$10.30M	USD	1 Quarter

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