Income taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income taxes

Component of Income Taxes

	Years ended December 31,
	2020		2021		2022
	(In millions)
Expected tax expense, at U.S. federal statutory   income tax rate of 21%	$	2.9	$	12.8	$	8.2
Nontaxable dividends received from Kronos		(5.3)		(5.3)		(5.6)
U.S. state income taxes and other, net		(.1)		—		.2
Income tax expense (benefit)	$	(2.5)	$	7.5	$	2.8
Components of income tax expense (benefit):
Currently payable	$	—	$	—	$	.5
Deferred income tax expense (benefit)		(2.5)		7.5		2.3
Income tax expense (benefit)	$	(2.5)	$	7.5	$	2.8
Comprehensive provision (benefit) for income taxes allocable to:
Net income	$	(2.5)	$	7.5	$	2.8
Additional paid-in capital		(.1)		—		—
Other comprehensive income:
Currency translation		.9		(.4)		(1.8)
Pension plans		(.7)		3.2		6.5
OPEB plans		(.1)		—		.1
Total	$	(2.5)	$	10.3	$	7.6

Components of Net Deferred Tax Liability

	December 31,
	2021				2022
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Tax effect of temporary differences related to:
Inventories	$	.5	$	—	$	.4	$	—
Marketable securities		—		(7.0)		—		(5.3)
Property and equipment		—		(2.7)		—		(2.0)
Accrued OPEB costs		.2		—		.2		—
Accrued pension costs		.5		—		.4		—
Accrued employee benefits		1.3		—		1.3		—
Accrued environmental liabilities		26.7		—		24.3		—
Goodwill		—		(1.7)		—		(1.7)
Other accrued liabilities and deductible differences		.2		—		.2		—
Other taxable differences		—		(2.3)		—		(2.4)
Investment in Kronos Worldwide, Inc.		—		(59.8)		—		(65.5)
Adjusted gross deferred tax assets (liabilities)		29.4		(73.5)		26.8		(76.9)
Netting of items by tax jurisdiction		(29.4)		29.4		(26.8)		26.8
Net noncurrent deferred tax liability	$	—	$	(44.1)	$	—	$	(50.1)