Cristal Acquisition and Related Divestitures (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Purchase Price Allocation

The purchase price consideration and preliminary estimated fair value of Cristal’s net assets acquired on April 10, 2019 are shown below. The assets and liabilities of Cristal's North American TiO₂ business, that was subsequently divested on May 1, 2019, are shown as held for sale in the fair value of assets acquired and liabilities assumed (refer to Note 6).

	Fair Value
Purchase Price Consideration:
Tronox Holdings plc shares issued	37,580,000
Tronox Holdings plc closing price per share on April 10, 2019	$	14.00
Total fair value of Tronox Holdings plc shares issued at acquisition date	$	526
Cash consideration paid	$	1,675
Total Purchase Price	$	2,201

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

	Fair Value
Fair Value of Assets Acquired
Accounts receivable	$	248
Inventory	693
Deferred taxes	55
Prepaid and other assets	80
Property, plant and equipment	746
Mineral leaseholds	95
Intangible assets	62
Lease right of use assets	40
Other long-term assets	42
Assets held for sale	848
Total assets acquired	$	2,909
Less: Liabilities Assumed
Accounts payable	$	102
Accrued liabilities	136
Short-term lease liabilities	13
Pension and postretirement healthcare benefits	76
Environmental liabilities	64
Asset retirement obligations	75
Long-term debt	22
Long-term lease liabilities	24
Other long-term liabilities	19
Liabilities held for sale	126
Total liabilities assumed	$	657
Less noncontrolling interest	51
Purchase price	$	2,201

Pro Forma Information

In accordance with ASC 805, the supplemental pro forma results of operations for the years ended December 31, 2019 and 2018, as if the Cristal Transaction had occurred on January 1, 2018, are as follows:

	Year Ended	Year Ended December 31
		2019		2018
Net Sales		$	3,008	$	3,339
Net income from continuing operations attributable to Tronox Holdings plc		$	18	$	32