Subsequent Event Subsequent Event (Notes)

12 Months Ended

Dec. 31, 2015

Subsequent Event [Line Items]

Subsequent Events [Text Block]

On February 3, 2016, (the "Distribution Date"), Grace completed the separation of GCP. As a result, beginning in the 2016 first quarter, GCP's historical financial results through the Distribution Date will be reflected in Grace's Consolidated Financial Statements as a discontinued operation. To effect the Separation, Grace distributed to its stockholders one share of GCP common stock, par value $0.01 per share, for each share of Company common stock, par value $0.01 per share outstanding as of 5:00 p.m. on January 27, 2016, the record date for the Distribution. In lieu of fractional shares of GCP, Grace stockholders received cash, which generally will be subject to income tax.

In connection with the Separation, GCP distributed $750 million to Grace. Grace used $500 million of those funds to repay $426.9 million of its U.S. dollar term loan and €67.3 million of its euro term loan. In connection with the financing GCP entered into related to the Separation, mortgages or deeds of trust will be executed with respect to GCP properties in Chicago, Illinois, and Mount Pleasant, Tennessee. Grace will have no obligations with respect to such mortgages or deeds of trust.