Investment in Kronos Worldwide, Inc. (Tables)

12 Months Ended

Dec. 31, 2024

Investment in Kronos Worldwide, Inc.

Changes in Carrying Value of Investment

	Years ended December 31,
	2022		2023		2024
	(In millions)
Balance at the beginning of the period	$	264.8	$	292.2	$	247.6
Equity in earnings (loss) of Kronos		31.9		(15.0)		26.4
Dividends received from Kronos		(26.8)		(26.8)		(16.9)
Equity in Kronos' other comprehensive income (loss):
Currency translation		(8.8)		1.1		(10.5)
Defined benefit pension plans		30.9		(3.9)		3.7
Other postretirement benefit plans		—		(.1)		—
Other		.2		.1		—
Balance at the end of the period	$	292.2	$	247.6	$	250.3

Selected Financial Information of Kronos Balance Sheet

	December 31,
	2023		2024
	(In millions)
Current assets	$	1,117.4	$	1,105.3
Property and equipment, net		482.9		694.1
Investment in TiO2 joint venture		111.0		—
Other noncurrent assets		126.7		114.1
Total assets	$	1,838.0	$	1,913.5
Current liabilities	$	370.8	$	476.6
Long-term debt		440.9		429.1
Accrued pension costs		150.0		117.5
Other noncurrent liabilities		68.0		73.3
Stockholders’ equity		808.3		817.0
Total liabilities and stockholders’ equity	$	1,838.0	$	1,913.5

Selected Financial Information of Kronos Income Statement

	Years ended December 31,
	2022		2023		2024
	(In millions)
Net sales	$	1,930.2	$	1,666.5	$	1,887.1
Cost of sales		1,539.1		1,501.6		1,527.8
Income (loss) from operations		159.6		(56.0)		122.9
Income tax expense (benefit)		29.4		(23.8)		63.4
Net income (loss)		104.5		(49.1)		86.2