TRONOX INC

CIK:0001328910|SEC Filings

Statements of Operations Data

3 Months Ended

Mar. 31, 2012

Statements of Operations Data [Abstract]

14. Statements of Operations Data

Other Income (Expense) — The components of other income (expense) consisted of:


	Successor					Predecessor
	Three Months			Two Months		One Month
	Ended March 31,			Ended March 31,		Ended January 31,
	2012			2011		2011
Net unrealized and realized foreign currency gain (loss)	$	(2.2	)	$	0.9	$	1.5
Interest income		0.2			0.1		0.1
Other		0.6			—		—

Total	$	(1.4	)	$	1.0	$	1.6

Reorganization Income — Items resulting from the Company’s reorganization from bankruptcy are classified as “Reorganization income” on Condensed Consolidated Statements of Operations. Upon emergence from bankruptcy, the Company no longer reports reorganization income or expense. Any residual income or costs are included in “Selling, general and administrative expenses” on the Condensed Consolidated Statements of Operations.

The Company’s net charges for reorganization items were as follows:


	Predecessor
	One Month
	Ended January 31,
	2011
Legal and professional fees	$	(12.0	)
Indirect environmental claims		(24.3	)
Fees related to the Rights Offering and other debt related costs		(9.2	)
Forgiveness of debt		127.7
Gain as a result of application of fresh-start accounting		531.4

Total	$	613.6

Cash Flows Statement Data

3 Months Ended

Mar. 31, 2012

Cash Flows Statement Data [Abstract]

Cash Flows Statement Data

19. Cash Flows Statement Data

Other noncash items included in the reconciliation of net income to net cash flows from operating activities include the following:


	Successor				Predecessor
	Three Months		Two Months		One Month
	Ended March 31,		Ended March 31,		Ended January 31,
	2012		2011		2011
Workers’ compensation and insurance liability	$	0.6	$	0.2	$	0.1
Abandonment expense		0.3		0.3		—
Asset retirement obligation accretion expense		0.5		0.3		0.1
Asset retirement obligation changes in estimates		—		0.9		—
Inventory write-downs		—		0.7		—
FIN 48 liability adjustment		—		1.0		(0.4	)
Other net adjustments		0.9		—		—

Total	$	2.3	$	3.4	$	(0.2	)

Other, net, included in the reconciliation of net income to net cash flows from operating activities includes the following:


	Successor						Predecessor
	Three Months			Two Months			One Month
	Ended March 31,			Ended March 31,			Ended January 31,
	2012			2011			2011
Pension and postretirement	$	(1.5	)	$	(0.7	)	$	—
Asset retirement obligation expenditures		—			(0.4	)		—
Environmental expenditures, net of reimbursements		—			33.1			—
Other net adjustments		1.3			(0.5	)		1.0

Total	$	(0.2	)	$	31.5		$	1.0

Condensed Consolidated Balance Sheets (Unaudited) (Successor, USD $) In Millions, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Successor
Current Assets
Cash and cash equivalents	$ 222.7	$ 154.0
Accounts receivable:
Third party, net of allowance for doubtful accounts of $0.7 and $0.4	348.4	270.9
Related party	1.7	6.9
Inventories	404.4	311.2
Prepaid and other assets	18.0	21.7
Deferred income taxes	4.3	4.3
Total Current Assets	999.5	769.0
Property, Plant and Equipment, Net	558.8	554.5
Intangible Assets, Net	307.4	313.3
Other Long-Term Assets	37.3	20.6
Total Assets	1,903.0	1,657.4
Accounts payable:
Third party	134.3	126.9
Related party	72.6	74.8
Accrued liabilities	41.5	45.7
Long-term debt due within one year	4.4	5.9
Income taxes payable	42.6	27.6
Total Current Liabilities	295.4	280.9
Noncurrent Liabilities
Long-term debt	551.9	421.4
Pension and postretirement healthcare benefits	142.2	142.7
Deferred income taxes	18.4	19.1
Other	47.1	41.0
Total Noncurrent Liabilities	759.6	624.2
Contingencies and commitments (Note 13)
Stockholders' Equity
Common stock, par value $0.01 - 100,000,000 shares authorized, 15,420,567 shares issued and 15,088,815 shares outstanding at March 31, 2012 and 100,000,000 shares authorized, 15,406,803 shares issued and 15,076,691 shares outstanding at December 31, 2011	0.1	0.1
Capital in excess of par value	582.6	579.2
Retained earnings	327.8	241.5
Accumulated other comprehensive loss	(50.3)	(57.0)
Treasury stock, at cost - 98,303 shares and 94,513 shares at March 31, 2012 and December 31, 2011, respectively	(12.2)	(11.5)
Total Stockholders' Equity	848.0	752.3
Total Liabilities and Stockholders' Equity	$ 1,903.0	$ 1,657.4