KRONOS INTERNATIONAL INC

CIK:0001176236|SEC Filings

Condensed Consolidated Statements Of Income (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Condensed Consolidated Statements Of Income [Abstract]
Net sales	$ 383.9	$ 298.7
Cost of sales	216.2	194.4
Gross margin	167.7	104.3
Selling, general and administrative expense	37.3	33.4
Currency transaction gains, net	0.5
Other operating income, net	6.0	2.4
Income from operations	136.9	73.3
Other income (expense):
Interest income	0.2	0.1
Loss on prepayment of debt		(3.3)
Interest expense	(6.3)	(9.3)
Income before income taxes	130.8	60.8
Income tax expense	41.0	19.7
Net income	$ 89.8	$ 41.1

Condensed Consolidated Statements Of Cash Flows (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash flows from operating activities:
Net income	$ 89.8	$ 41.1
Depreciation and amortization	10.2	9.9
Deferred income taxes	15.3	7.7
Loss on prepayment of debt		3.3
Call premium paid		(2.5)
Defined benefit pension plan expense less than cash funding	(0.1)	(1.9)
Other, net	0.4	0.2
Change in assets and liabilities:
Accounts and other receivables	(109.9)	(37.6)
Inventories	(96.2)	(35.7)
Prepaid expenses	(0.5)	(0.7)
Accounts payable and accrued liabilities	25.2	8.8
Income taxes	15.1	5.7
Accounts with affiliates	(34.6)	12.9
Other, net	1.4	(1.1)
Net cash provided by (used in) operating activities	(83.9)	10.1
Cash flows from investing activities:
Capital expenditures	(20.8)	(13.0)
Change in restricted cash, net	0.5	0.6
Net cash used in investing activities	(20.3)	(12.4)
Cash flows from financing activities:
Borrowings	107.4	113.3
Principal payments	(0.4)	(113.8)
Net cash provided by (used in) financing activities	107.0	(0.5)
Cash and cash equivalents - net change from:
Operating, investing and financing activities	2.8	(2.8)
Currency translation	0.3	2.6
Balance at beginning of period	19.9	49.8
Balance at end of period	23.0	49.6
Supplemental disclosures:
Interest (including call premium paid)		5.8
Income taxes	17.2	6.0
Accrual for capital expenditures	$ 1.3	$ 2.6

Condensed Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 23.0	$ 19.9
Restricted cash	1.8	1.9
Accounts and other receivables	293.3	180.6
Inventories	449.1	339.9
Prepaid expenses and other	4.5	3.7
Total current assets	771.7	546.0
Other assets:
Deferred financing costs, net	1.7	2.0
Deferred income taxes	117.6	130.6
Other	9.0	9.5
Total other assets	128.3	142.1
Property and equipment:
Land	42.8	41.4
Buildings	176.7	171.1
Equipment	872.9	841.3
Mining properties	120.6	114.9
Construction in progress	19.7	19.1
Total property and equipment	1,232.7	1,187.8
Less accumulated depreciation and amortization	808.3	773.7
Net property and equipment	424.4	414.1
Total assets	1,324.4	1,102.2
LIABILITIES AND STOCKHOLDER'S EQUITY
Current maturities of long-term debt	2.0	2.2
Accounts payable and accrued liabilities	195.3	212.1
Income taxes	30.0	13.4
Deferred income taxes	6.3	6.2
Total current liabilities	233.6	233.9
Noncurrent liabilities:
Long-term debt	479.5	362.9
Deferred income taxes	11.5	11.1
Accrued pension cost	91.3	90.0
Other	27.1	26.0
Total noncurrent liabilities	609.4	490.0
Stockholder's equity:
Common stock	0.3	0.3
Additional paid-in capital	1,986.5	1,983.1
Retained deficit	(1,065.2)	(1,155.0)
Notes receivable from affiliates	(281.6)	(276.7)
Accumulated other comprehensive loss	(158.6)	(173.4)
Total stockholder's equity	481.4	378.3
Total liabilities and stockholder's equity	1,324.4	1,102.2
Commitments and contingencies (Notes 6 and 9)