Investment in Kronos Worldwide, Inc. (Tables)

3 Months Ended

Mar. 31, 2022

Equity Method Investments And Joint Ventures [Abstract]

Changes in Carrying Value of Investment

	Amount
	(In millions)
Balance at the beginning of the period	$	264.8
Equity in earnings of Kronos		17.5
Dividends received from Kronos		(6.7)
Equity in Kronos' other comprehensive income:
Currency translation		2.0
Defined benefit pension plans		.7
Other		.6
Balance at the end of the year	$	278.9

Selected Financial Information of Kronos Balance Sheet

	December 31,		March 31,
	2021		2022
	(In millions)
Current assets	$	1,258.0	$	1,279.5
Property and equipment, net		503.4		503.8
Investment in TiO2 joint venture		101.9		105.7
Other noncurrent assets		149.5		146.3
Total assets	$	2,012.8	$	2,035.3
Current liabilities	$	288.8	$	281.1
Long-term debt		449.8		443.8
Accrued pension costs		287.4		282.3
Other noncurrent liabilities		116.6		114.5
Stockholders’ equity		870.2		913.6
Total liabilities and stockholders’ equity	$	2,012.8	$	2,035.3

Selected Financial Information of Kronos Income Statement

	Three months ended
	March 31,
	2021		2022
	(In millions)
Net sales	$	465.0	$	562.9
Cost of sales		369.3		413.6
Income from operations		34.0		83.3
Income tax expense		6.0		18.3
Net income		19.6		57.5