Investment in TiO2 Manufacturing Joint Venture and Other Assets (Tables)

12 Months Ended

Dec. 31, 2016

Investment in TiO2 Manufacturing Joint Venture and Other Assets

	December 31,
	2015		2016
	(In millions)
Other assets:
Land held for development	$	157.2	$	138.1
Waste disposal site operating permits, net		48.1		42.9
Restricted cash equivalents		19.6		24.2
IBNR receivables		7.0		7.1
Capital lease deposit		6.2		6.2
Intangible assets		5.1		—
Other		11.8		17.9
Total	$	255.0	$	236.4

Components of Net Capitalized Permit Costs

The components of net capitalized permit costs are presented in the table below.

	December 31,
	2015		2016
	(In millions)
Net permit costs for issued permits which are being amortized:
LLRW license (expires in 2024)	$	44.7	$	39.1
Byproduct license (expires in 2018)		2.5		1.5
Other (expires 2016—2024)		.1		.1
Total amortized permits		47.3		40.7
Permits not being amortized		.8		2.2
Total	$	48.1	$	42.9

LPC

Summary of Net Distributions, Balance Sheets and Income Statements

The components of our net distributions (contributions) from LPC are shown in the table below.

	Years ended December 31,
	2014			2015			2016
	(In millions)
Distributions from LPC	$	48.0		$	48.2		$	35.0
Contributions to LPC		(37.4	)		(41.7	)		(31.4	)
Net distributions	$	10.6		$	6.5		$	3.6

Summary balance sheets of LPC are shown below:

	December 31,
	2015		2016
	(In millions)
ASSETS
Current assets	$	96.2	$	94.5
Property and equipment, net		110.1		111.6
Total assets	$	206.3	$	206.1
LIABILITIES AND PARTNERS’ EQUITY
Other liabilities, primarily current	$	37.8	$	45.2
Partners’ equity		168.5		160.9
Total liabilities and partners’ equity	$	206.3	$	206.1

Summary income statements of LPC are shown below:

	Years ended December 31,
	2014		2015		2016
	(In millions)
Revenues and other income:
Kronos	$	193.1	$	176.5	$	157.9
Tioxide		193.8		162.5		157.5
Total		386.9		339.0		315.4
Cost and expenses:
Cost of sales		386.4		338.5		314.9
General and administrative		.5		.5		.5
Total		386.9		339.0		315.4
Net income	$	—	$	—	$	—