$KRO

KRONOS WORLDWIDE INC

CIK:0001257640|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 558.1	$ 494.4	$ 1,067.9	$ 984.2
Cost of sales	455.3	431.6	881.8	814.5
Gross margin	102.8	62.8	186.1	169.7
Selling, general and administrative expense	64.5	62.1	128.1	123.7
Other operating income (expense):
Currency transactions, net	(0.5)	9.4	(5.9)	5.0
Other operating expense, net	(0.2)	(2.7)	(1.9)	(5.2)
Income from operations	37.6	7.4	50.2	45.8
Other income (expense):
Interest and dividend income	0.3	0.3	0.5	0.7
Marketable equity securities			0.3	(1.0)
Other components of net periodic pension and OPEB cost	(0.8)	(0.6)	(1.6)	(1.1)
Interest expense	(14.2)	(12.8)	(28.5)	(24.4)
Income (loss) before income taxes	22.9	(5.7)	20.9	20.0
Income tax expense	7.7	3.5	10.5	11.1
Net income (loss)	$ 15.2	$ (9.2)	$ 10.4	$ 8.9
Net income (loss) per share - basic (in dollars per share)	$ 0.13	$ (0.08)	$ 0.09	$ 0.08
Net income (loss) per share - diluted (in dollars per share)	$ 0.13	$ (0.08)	$ 0.09	$ 0.08
Weighted average shares used in the calculation of net income (loss) per share - basic (in shares)	115.1	115.0	115.1	115.0
Weighted average shares used in the calculation of net income (loss) per share - diluted (in shares)	115.1	115.0	115.1	115.0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 10.4	$ 8.9
Depreciation	31.2	29.0
Amortization of operating lease right-of-use assets	2.3	2.0
Deferred income taxes	6.1
Benefit plan expense less than cash funding	(0.4)	(4.5)
Marketable equity securities	(0.3)	1.0
Other, net	(0.3)	(2.8)
Change in assets and liabilities:
Accounts and other receivables, net	(111.7)	(21.5)
Inventories, net	120.6	20.5
Prepaid expenses	18.5	16.3
Accounts payable and accrued liabilities	(67.8)	(83.4)
Income taxes	(10.0)	(15.6)
Accounts with affiliates	5.5	(32.9)
Other, net	(2.1)	1.3
Net cash provided by (used in) operating activities	2.0	(81.7)
Cash flows from investing activities:
Cash flows from investing activities - capital expenditures	(26.3)	(23.2)
Cash flows from financing activities:
Borrowings	283.7	306.3
Payments	(255.3)	(280.9)
Dividends paid	(11.5)	(11.5)
Net cash provided by financing activities	16.9	13.9
Cash, cash equivalents and restricted cash - net change from:
Operating, investing and financing activities	(7.4)	(91.0)
Effect of currency exchange rate changes on cash	(0.6)	4.0
Balance at beginning of period	42.5	114.7
Balance at end of period	34.5	27.7
Cash paid for:
Interest, net of amount capitalized	28.7	22.4
Income taxes	17.8	50.1
Accrual for capital expenditures	$ 1.0	$ 3.4

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 26.6	$ 33.2
Restricted cash	2.5	3.8
Accounts and other receivables, net	393.3	287.8
Inventories, net	498.3	628.6
Prepaid expenses and other	21.9	41.1
Total current assets	942.6	994.5
Other assets:
Restricted cash	5.4	5.5
Marketable securities	2.1	1.8
Operating lease right-of-use assets	19.2	19.9
Deferred income taxes	29.7	35.8
Goodwill	2.6	2.6
Other	34.8	32.4
Total other assets	93.8	98.0
Property and equipment:
Land	78.3	79.3
Buildings	271.8	279.8
Equipment	1,435.9	1,459.1
Mining properties	139.0	134.2
Construction in progress	49.6	44.5
Gross property and equipment	1,974.6	1,996.9
Less accumulated depreciation and amortization	1,267.0	1,272.6
Net property and equipment	707.6	724.3
Total assets	1,744.0	1,816.8
Current liabilities:
Accounts payable and accrued liabilities	282.2	354.4
Income taxes	3.6	14.4
Total current liabilities	285.8	368.8
Noncurrent liabilities:
Long-term debt (including affiliate debt of $53.7 at each period)	569.6	557.4
Accrued pension costs	73.7	80.9
Operating lease liabilities	15.1	15.7
Deferred income taxes	16.0	15.2
Other	32.8	27.7
Total noncurrent liabilities	707.2	696.9
Stockholders' equity:
Common stock	1.2	1.2
Additional paid-in capital	1,390.8	1,390.4
Retained deficit	(346.0)	(344.9)
Accumulated other comprehensive loss	(295.0)	(295.6)
Total stockholders' equity	751.0	751.1
Total liabilities and stockholders' equity	$ 1,744.0	$ 1,816.8