XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ (5.9) $ 105.8
Depreciation and amortization 27.3 29.9
Gain from sale of land (1.5)  
Loss on pension plan termination 6.2  
Benefit plan expense greater than cash funding (4.2) 4.0
Deferred income taxes (23.6) 3.0
Contributions to TiO2 manufacturing joint venture, net (8.3) (4.1)
Fixed asset impairment   16.0
Other, net 4.3 2.3
Change in assets and liabilities:    
Accounts and other receivables, net (58.1) (60.5)
Inventories, net 68.6 (38.0)
Land held for development, net (8.6) 5.8
Accounts payable and accrued liabilities (84.0) (34.6)
Income taxes 0.5 1.4
Accounts with affiliates (15.2) 11.7
Other, net 7.4 (14.9)
Net cash provided by (used in) operating activities (95.1) 27.8
Cash flows from investing activities:    
Capital expenditures (34.4) (33.2)
Proceeds from land sales 1.8  
Purchases of marketable securities (51.5) (2.2)
Proceeds from disposal of marketable securities 27.4 1.9
Other, net   0.1
Net cash used in investing activities (56.7) (33.4)
Cash flows from financing activities:    
Principal payments on indebtedness (16.6) (21.4)
Valhi cash dividends paid (4.5) (4.5)
Distributions to noncontrolling interest in subsidiaries (12.7) (16.7)
Subsidiary treasury stock acquired (2.9) (2.8)
Net cash used in financing activities (36.7) (45.4)
Cash, cash equivalents and restricted cash and cash equivalents - net change from:    
Operating, investing and financing activities (188.5) (51.0)
Effect of exchange rates on cash (0.9) (8.7)
Balance at beginning of period 562.0 792.9
Balance at end of period 372.6 733.2
Cash paid for:    
Interest, net of amounts capitalized 13.3 13.0
Income taxes, net 22.7 29.9
Noncash investing activities:    
Change in accruals for capital expenditures $ 2.4 $ 2.6