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Segment Information (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Segment Reporting Information

Segment performance is evaluated based on segment operating profit (loss), which represents the results of segment operations before unallocated costs, such as general corporate expenses not identified to a specific segment, environmental provisions, net of reimbursements, related to sites no longer in operation, interest expense, other income (expense) and income tax expense or benefit.

 

    Mineral
Sands
    Pigment     Corporate
And Other
    Eliminations     Total  

Three Months Ended June 30, 2013

         

Net Sales(1)

  $ 312      $ 304      $ 35      $ (126   $ 525   

Income (loss) from operations

    68        (56     (11     8        9   

Interest and debt expense

            (35

Other income

            26   

Loss from Continuing Operations before Income Taxes

            —     

Depreciation, Depletion and Amortization

  $ 49      $ 20      $ 4      $ —       $ 73   

Capital Expenditures

  $ 18      $ 12      $ 4      $ —       $ 34   

Three Months Ended June 30, 2012

         

Net Sales(1)

  $ 89      $ 348      $ 27      $ (35   $ 429   

Income (loss) from operations

    46        37        (76     15        22   

Interest and debt expense

            (14

Other expense

            (3

Gain on bargain purchase

            1,055   

Income from Continuing Operations before Income Taxes

            1,060   

Depreciation, Depletion and Amortization

  $ 11      $ 16      $ 4      $ —       $ 31   

Capital Expenditures

  $ 20      $ 3      $ 4      $ —       $ 27   

Six Months Ended June 30, 2013

         

Net Sales(1)

  $ 610      $ 592      $ 62      $ (269   $ 995   

Income (loss) from operations

    164        (124     (35     (15     (10

Interest and debt expense

            (62

Loss on extinguishment of debt

            (4

Other expense

            32   

Income from Continuing Operations before Income Taxes

            (44

Depreciation, Depletion and Amortization

  $ 98      $ 41      $ 7      $ —       $ 146   

Capital Expenditures

  $ 49      $ 25      $ 5      $ —       $ 79   

Six Months Ended June 30, 2012

         

Net Sales(1)

  $ 172      $ 710      $ 58      $ (77   $ 863   

Income (loss) from operations

    97        146        (104     (4     135   

Interest and debt expense

            (22

Other expense

            (4

Gain on bargain purchase

            1,055   

Income from Continuing Operations before Income Taxes

            1,164   

Depreciation, Depletion and Amortization

  $ 15      $ 31      $ 7      $ —       $ 53   

Capital Expenditures

  $ 20      $ 15      $ 13      $ —       $ 48   

 

(1) Net sales by geographic region, based on country of production, were as follows:

Segment performance is evaluated based on segment operating profit (loss), which represents the results of segment operations before unallocated costs, such as general corporate expenses not identified to a specific segment, environmental provisions, net of reimbursements, related to sites no longer in operation, interest expense, other income (expense) and income tax expense or benefit.

 

    Mineral
Sands
    Pigment     Corporate
And Other
    Eliminations     Total  

Successor: Twelve Months Ended December 31, 2012

         

Net Sales

  $ 760      $ 1,246      $ 128      $ (302   $ 1,832   

Income (Loss) from operations

    156        57        (139     (49     25   

Interest and debt expense

            (65

Other income (expense)

            (7

Gain on bargain purchase

            1,055   

Income (Loss) from Continuing Operations before Income Taxes

          $ 1,008   

Total Assets

  $ 3,164      $ 1,680      $ 725      $ (58   $ 5,511   

Depreciation, Depletion and Amortization

    125        71        15        —         211   

Capital Expenditures

    96        39        31        —         166   

Successor: Eleven Months Ended December 31, 2011

         

Net Sales

  $ 160      $ 1,327      $ 133      $ (77   $ 1,543   

Income (Loss) from operations

    42        323        (54     (9     302   

Interest and debt expense

            (30

Other income (expense)

            (10

Income (Loss) from Continuing Operations before Income Taxes

          $ 262   

Total Assets

  $ 228      $ 1,217      $ 224      $ (12   $ 1,657   

Depreciation, Depletion and Amortization

    —         67        12        —         79   

Capital Expenditures

    —         117        16        —         133   

Predecessor: January 1 through January 31, 2011

         

Net Sales

  $ 8      $ 89      $ 14      $ (3   $ 108   

Income (Loss) from operations

    2        20        (1     (1     20   

Interest and debt expense

            (3

Other income

            2   

Reorganization income

            613   

Income from Continuing Operations before Income Taxes

            632   

Total Assets

  $ 221      $ 987      $ 241      $ (1   $ 1,448   

Depreciation, Depletion and Amortization

    —         3        1        —         4   

Capital Expenditures

    —         4        1        1        6   

Predecessor: Twelve Months Ended December 31, 2010

         

Net Sales

  $ 109      $ 1,005      $ 153      $ (49   $ 1,218   

Income (Loss) from operations

    7        163        40        —         210   

Interest and debt expense

            (50

Other income (expense)

            (8

Reorganization expense

            (145

Income (Loss) from Continuing Operations before Income Taxes

          $ 7   

Total Assets

  $ 152      $ 564      $ 382      $ —       $ 1,098   

Depreciation, Depletion and Amortization

    —         40        10        —         50   

Capital Expenditures

    —         37        8        —         45   
Segment Reporting Information of Revenue and Property, Plant and Equipment
(1) Net sales by geographic region, based on country of production, were as follows:

 

     Three Months Ended June 30,      Six Months Ended June 30,  
             2013                      2012                      2013                      2012          

U.S. operations

   $ 216       $ 229       $ 403       $ 459   

International operations:

           

South Africa

     144         24         254         24   

Australia

     113         118         221         243   

The Netherlands

     52         58         117         137   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 525       $ 429       $ 995       $ 863   
  

 

 

    

 

 

    

 

 

    

 

 

 

Property, plant and equipment, net and mineral leaseholds, net, by geographic region, were as follows:

 

     June 30,
2013
     December 31,
2012
 

U.S. operations

   $ 200       $ 196   

International operations:

     

South Africa

     1,082         1,263   

Australia

     1,295         1,348   

The Netherlands

     53         55   
  

 

 

    

 

 

 

Total

   $ 2,630       $ 2,862   
     Successor            Predecessor  
     Year
Ended
December 31,
2012
     Eleven Months
Ended
December 31,
2011
           One Month
Ended
January 31,
2011
     Year
Ended
December 31,
2010
 

Net Sales(1)

                

U.S. operations

   $ 843       $ 793            $ 60       $ 692   

International operations:

                

Australia

     443         475              33         317   

The Netherlands

     248         275              15         209   

South Africa

     298         —               —          —    
  

 

 

    

 

 

         

 

 

    

 

 

 

Total

   $ 1,832       $ 1,543            $ 108       $ 1,218   
  

 

 

    

 

 

         

 

 

    

 

 

 

 

(1) Based on country of production.

 

     Successor  
     December 31,
2012
     December 31,
2011
 

Net Property, Plant and Equipment and Net Mineral Leaseholds

     

U.S. operations

   $ 196       $ 184   

International operations:

     

South Africa

     1,263         —    

Australia

     1,348         304   

The Netherlands

     55         54   
  

 

 

    

 

 

 

Total

   $ 2,862       $ 542   
  

 

 

    

 

 

 

 

(1) Based on country of production.
Schedule of Total Assets By Segment

Total assets by segment were as follows:

 

     June 30,
2013
     December 31,
2012
 

Mineral Sands

   $ 2,756       $ 3,164   

Pigment

     1,823         1,680   

Corporate and Other

     1,100         725   

Eliminations

     168         (58
  

 

 

    

 

 

 

Total

   $ 5,847       $ 5,511