Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract]

Components of Comprehensive Provision for Income Taxes Allocation

Years ended December 31

Income Tax Disclosure [Abstract]

Component of Income Taxes

The provision for income taxes attributable to continuing operations, the difference between such provision for income taxes, the amount that would be expected using the U.S. federal statutory income tax rate of 35% and the comprehensive provision for income taxes are presented below.

Years ended December 31

Component of Income Taxes Expenses

Years ended December 31

Components of Net Deferred Tax Liability

The components of the net deferred tax liability at December 31, 2013 and 2014 are summarized in the following table.  

	Years ended December 31
	2013						2014
	Assets			Liabilities			Assets			Liabilities
	(In millions)
Tax effect of temporary differences related to:
Inventories	$	.9		$	-		$	.8		$	-
Marketable securities		-			(88.1	)		-			(31.9	)
Property and equipment		-			(4.1	)		-			(4.6	)
Accrued OPEB costs		1.3			-			1.4			-
Accrued pension costs		1.7			-			4.4			-
Accrued environmental liabilities		40.1			-			38.9			-
Other accrued liabilities and deductible differences		2.5			-			2.6			-
Other taxable differences		-			(7.7	)		-			(6.8	)
Investment in Kronos Worldwide, Inc.		-			(106.5	)		-			(90.1	)
Tax loss and tax credit carryforwards		1.8			-			2.2			-
Adjusted gross deferred tax assets (liabilities)		48.3			(206.4	)		50.3			(133.4	)
Netting of items by tax jurisdiction		(44.5	)		44.5			(45.7	)		45.7
		3.8			(161.9	)		4.6			(87.7	)
Less net current deferred tax asset		3.8			-			4.6			-
Net noncurrent deferred tax liability	$	-		$	(161.9	)	$	-		$	(87.7	)