Business combinations, dispositions and related transactions (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of provisional fair values of the assets acquired and liabilities assumed in the acquisition

	Amount
	(In millions)
Consideration:
Cash consideration	$	185.0
Working capital adjustment		(11.0)
Earn-out liability		4.2
Total fair value of consideration		178.2
Fair value of investment in TiO2 manufacturing joint venture		178.2
Total	$	356.4
Allocation of purchase price to identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	$	21.3
Restricted cash		1.3
Accounts and other receivables, net		.2
Inventories, net		82.0
Prepaid expenses and other		.6
Other assets		10.7
Property and equipment		268.5
Accounts payable and accrued liabilities		(21.7)
Other noncurrent liabilities		(6.4)
Deferred tax liability		(2.7)
Total net identifiable assets acquired		353.8
Goodwill		2.6
Total	$	356.4

Louisiana Pigment Company, L.P. (LPC)

Summary of Net Distributions, Balance Sheets and Income Statements

	Years ended December 31,
	2022		2023		2024 (1)
	(In millions)
Distributions from LPC	$	58.3	$	52.8	$	31.2
Contributions to LPC		(68.8)		(49.7)		(33.9)
Net distributions (contributions)	$	(10.5)	$	3.1	$	(2.7)

(1)Reflects distributions and contributions from/to LPC prior to the Acquisition Date.

The summary balance sheet for LPC for the annual period prior to the Acquisition Date is shown below:

	December 31, 2023
	(In millions)
ASSETS
Current assets	$	118.5
Property and equipment, net		148.4
Total assets	$	266.9
LIABILITIES AND PARTNERS' EQUITY
Other liabilities, primarily current	$	42.1
Partners' equity		224.8
Total liabilities and partners' equity	$	266.9

Summary income statements for LPC for the annual periods prior to the Acquisition Date are shown below:

		Years ended December 31,
	2022		2023
	(In millions)
Revenues and other income:
Kronos	$	225.6	$	231.7
Venator		225.9		231.7
Total		451.5		463.4
Cost and expenses:
Cost of sales		451.1		463.0
General and administrative		.4		.4
Total		451.5		463.4
Net income	$	—	$	—