10-Q Filing

KRONOS WORLDWIDE INC CIK: 1257640 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-021943`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	kro-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 33 Cash Flow Statement 62 Stockholders Equity 17 Comprehensive Income 8

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$390.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$341.50M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.50M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$330.40M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$309.40M	USD	Point-in-time
Inventories, net	`InventoryNet`	$479.40M	USD	Point-in-time
Inventories, net	`InventoryNet`	$503.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$15.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$10.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.16B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.22B	USD	Point-in-time
Investment in TiO2 manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$92.40M	USD	Point-in-time
Investment in TiO2 manufacturing joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$90.20M	USD	Point-in-time
Marketable securities	`EquitySecuritiesFvNi`	$1.80M	USD	Point-in-time
Marketable securities	`EquitySecuritiesFvNi`	$3.30M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$29.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$27.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$125.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$127.70M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$5.30M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$5.60M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$255.50M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$252.40M	USD	Point-in-time
Land	`Land`	$39.10M	USD	Point-in-time
Land	`Land`	$40.40M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$211.40M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$203.10M	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.08B	USD	Point-in-time
Equipment	`MachineryAndEquipmentGross`	$1.11B	USD	Point-in-time
Mining properties	`MiningProperties`	$98.50M	USD	Point-in-time
Mining properties	`MiningProperties`	$116.20M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$51.40M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$54.90M	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.54B	USD	Point-in-time
Gross property and equipment	`PropertyPlantAndEquipmentGross`	$1.47B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.01B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.05B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$490.60M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$459.00M	USD	Point-in-time
Total assets	`Assets`	$1.87B	USD	Point-in-time
Total assets	`Assets`	$1.97B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.50M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.40M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$259.00M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$216.10M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$13.70M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$10.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$270.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$231.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$436.30M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$444.00M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$307.40M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$301.40M	USD	Point-in-time
Payable to affiliate - income taxes	`DueToAffiliateNoncurrent`	$56.60M	USD	Point-in-time
Payable to affiliate - income taxes	`DueToAffiliateNoncurrent`	$56.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$20.30M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$22.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$20.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.00M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$27.70M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$28.20M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$879.10M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$861.30M	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`	$-132.50M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-126.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-448.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-487.80M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$1.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$816.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$851.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$839.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$782.30M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.87B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.97B	USD	Point-in-time
Commitments and contingencies (Notes 11 and 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 11 and 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$421.00M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$436.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$327.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$332.90M	USD	1 Quarter
Gross margin	`GrossProfit`	$109.30M	USD	1 Quarter
Gross margin	`GrossProfit`	$88.10M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$53.50M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$57.70M	USD	1 Quarter
Currency transactions, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$900.00K	USD	1 Quarter
Currency transactions, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$12.20M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-3.50M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-3.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$43.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$49.00M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.20M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$2.10M	USD	1 Quarter
Insurance settlement gain	`GainOnInsuranceSettlement`	$1.50M	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$-1.50M	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$600.00K	USD	1 Quarter
Other components of net periodic pension and OPEB cost	`DefinedBenefitPlanOtherCosts`	$3.80M	USD	1 Quarter
Other components of net periodic pension and OPEB cost	`DefinedBenefitPlanOtherCosts`	$4.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$43.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$35.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$12.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$27.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.30M	USD	1 Quarter
Net income per basic and diluted share	`EarningsPerShareBasicAndDiluted`	$0.26	USD	1 Quarter
Net income per basic and diluted share	`EarningsPerShareBasicAndDiluted`	$0.23	USD	1 Quarter
Weighted average shares used in the calculation of net income per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	115.60M	shares	1 Quarter
Weighted average shares used in the calculation of net income per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	115.90M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$30.30M	USD	1 Quarter
Net income	`ProfitLoss`	$27.00M	USD	1 Quarter
Depreciation	`Depreciation`	$14.90M	USD	1 Quarter
Depreciation	`Depreciation`	$10.60M	USD	1 Quarter
Amortization of operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortization`	$1.70M	USD	1 Quarter
Amortization of operating lease right-of-use assets	`OperatingLeaseRightOfUseAssetAmortization`	$1.60M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-900.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.10M	USD	1 Quarter
Benefit plan expense greater than cash funding	`PensionAndOtherPostretirementBenefitExpense`	$1.40M	USD	1 Quarter
Benefit plan expense greater than cash funding	`PensionAndOtherPostretirementBenefitExpense`	$3.00M	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$-1.50M	USD	1 Quarter
Marketable equity securities	`MarketableSecuritiesGainLoss`	$600.00K	USD	1 Quarter
Contributions to TiO2 manufacturing joint venture, net	`EquityMethodInvestmentDistributionsFromContributionsToNet`	$-2.20M	USD	1 Quarter
Contributions to TiO2 manufacturing joint venture, net	`EquityMethodInvestmentDistributionsFromContributionsToNet`	$-800.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$1.10M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-500.00K	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$38.70M	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$45.50M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$2.20M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-3.30M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.90M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.60M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-30.50M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.40M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-600.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$9.40M	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$-700.00K	USD	1 Quarter
Accounts with affiliates	`IncreaseDecreaseDueFromAffiliates`	$1.50M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-100.00K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-800.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.30M	USD	1 Quarter
Proceeds from insurance settlement	`ProceedsFromInsuranceSettlementInvestingActivities`	$1.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.80M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$100.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$100.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$20.90M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$20.80M	USD	1 Quarter
Treasury stock acquired	`PaymentsForRepurchaseOfCommonStock`	$1.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.90M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.00M	USD	1 Quarter
Operating, investing and financing activities	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-31.50M	USD	1 Quarter
Operating, investing and financing activities	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-45.50M	USD	1 Quarter
Currency translation	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.60M	USD	1 Quarter
Currency translation	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.90M	USD	1 Quarter
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$340.60M	USD	Point-in-time
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$392.30M	USD	Point-in-time
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$374.70M	USD	Point-in-time
Balance at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$342.90M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$340.60M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$392.30M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$374.70M	USD	Point-in-time
Balance at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$342.90M	USD	Point-in-time
Interest, net of amount capitalized	`InterestPaidNet`	$8.70M	USD	1 Quarter
Interest, net of amount capitalized	`InterestPaidNet`	$8.50M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$-100.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$9.20M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$2.00M	USD	1 Quarter
Accrual for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$2.30M	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.18	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.18	USD	1 Quarter
Beginning Balance	`StockholdersEquity`	$816.10M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$851.30M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$839.80M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$782.30M	USD	Point-in-time
Net income	`NetIncomeLoss`	$27.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.30M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-39.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.10M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$20.90M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$20.80M	USD	1 Quarter
Treasury stock acquired	`TreasuryStockValueAcquiredCostMethod`	$1.00M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$816.10M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$851.30M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$839.80M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$782.30M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$27.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.30M	USD	1 Quarter
Currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-41.90M	USD	1 Quarter
Currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-100.00K	USD	1 Quarter
Total other comprehensive income (loss), net	`OtherComprehensiveIncomeLossNetOfTax`	$-39.00M	USD	1 Quarter
Total other comprehensive income (loss), net	`OtherComprehensiveIncomeLossNetOfTax`	$2.10M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$32.40M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-12.00M	USD	1 Quarter

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