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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Dec. 31, 2011
Successor
Dec. 31, 2012
Successor
Jan. 31, 2011
Predecessor
Dec. 31, 2010
Predecessor
Net Sales $ 470 $ 434 $ 1,543 $ 1,832 $ 108 $ 1,218
Cost of goods sold 438 277 1,104 1,568 83 996
Gross Margin 32 157 439 264 25 222
Selling, general and administrative expenses 51 44 152 239 5 59
Litigation/arbitration settlement     10      
Provision for environmental remediation and restoration, net of reimbursements     5     47
Income (Loss) from Operations (19) 113 302 25 20 210
Interest and debt expense (27) (8) (30) (65) (3) (50)
Loss on extinguishment of debt (4)          
Other income (expense) 6 (1) (10) (7) 2 (8)
Gain on bargain purchase       1,055    
Reorganization income (expense)         613 (145)
Income (Loss) before Income Taxes (44) 104 262 1,008 632 7
Income tax benefit (provision) (1) (18) (20) 125 (1) (2)
Income from Continuing Operations     242 1,133 631 5
Income from discontinued operations           1
Net income (45) 86 242 1,133 631 6
Income attributable to noncontrolling interest 12       1      
Net Income (Loss) attributable to Tronox Limited $ (57) $ 86 $ 242 $ 1,134 $ 631 $ 6
Basic -            
Continuing operations $ (0.50) $ 1.14 $ 3.22 [1] $ 11.37 [1] $ 15.28 [1] $ 0.11 [1]
Discontinued operations           $ 0.03 [1]
Basic $ (0.50) $ 1.14 $ 3.22 [1] $ 11.37 [1] $ 15.28 [1] $ 0.14 [1]
Diluted -            
Continuing operations $ (0.50) $ 1.10 $ 3.10 [1] $ 11.10 [1] $ 15.25 [1] $ 0.11 [1]
Discontinued operations           $ 0.03 [1]
Diluted $ (0.50) $ 1.10 $ 3.10 $ 11.10 $ 15.25 $ 0.14
Weighted Average Shares Outstanding            
Basic 113,317 [2] 75,390 [2] 74,905 98,985 41,311 41,232
Diluted 113,317 [2] 78,665 [2] 78,095 101,406 41,399 41,383
[1] (1) On June 26, 2012, the Board of Directors of Tronox Limited approved a 5-to-1 share split for holders of its Class A ordinary shares and Class B ordinary shares at the close of business on July 20, 2012, by issuance of four additional shares for each share of the same class by way of bonus issue. All references to number of shares and per share data in the Successor's consolidated financial statements have been adjusted to reflect the share split, unless otherwise noted. See Note 15 for additional information regarding the Company's share split.
[2] On June 26, 2012, the Board of Directors of Tronox Limited approved a 5-to-1 stock split for holders of its Class A ordinary shares and Class B ordinary shares at the close of business on July 20, 2012, by issuance of four additional shares for each share of the same class by way of bonus issue. All references to number of shares and per share data in the unaudited condensed consolidated financial statements have been adjusted to reflect the stock split, unless otherwise noted.