Investment in Kronos Worldwide, Inc. (Tables)

6 Months Ended

Jun. 30, 2013

Equity Method Investments And Joint Ventures [Abstract]

Changes in Carrying Value of Investment

The change in the carrying value of our investment in Kronos during the first six months of 2013 is summarized below:

	Amount
	(In millions)
Balance at the beginning of the period	$	323.1
Equity in loss of Kronos		(22.8	)
Dividends received from Kronos		(10.6	)
Other, principally equity in Kronos’ other comprehensive loss		(4.6	)
Balance at the end of the period	$	285.1

Selected Financial Information of Kronos Balance Sheet

Selected financial information of Kronos is summarized below:

	December 31, 2012		June 30, 2013
	(In millions)
Current assets	$	1,223.4	$	925.5
Property and equipment, net		522.5		507.9
Investment in TiO2 joint venture		109.9		95.2
Other noncurrent assets		171.2		213.7
Total assets	$	2,027.0	$	1,742.3
Current liabilities	$	328.4	$	275.7
Long-term debt		378.9		286.9
Accrued pension and postretirement benefits		203.3		194.1
Other noncurrent liabilities		54.3		48.7
Stockholders’ equity		1,062.1		936.9
Total liabilities and stockholders’ equity	$	2,027.0	$	1,742.3

Selected Financial Information of Kronos Income Statement

Three months ended June  30,					Six months ended June  30,
	2012		2013			2012		2013
	(In millions)
Net sales	$	545.3	$	481.1		$	1,106.6	$	944.7
Cost of sales		382.0		471.5			681.8		931.2
Income (loss) from operations		110.6		(47.7	)		320.0		(94.6	)
Net income (loss)		64.5		(33.9	)		201.4		(75.0	)