Investment in Kronos Worldwide, Inc. (Tables)

12 Months Ended

Dec. 31, 2014

Equity Method Investments And Joint Ventures [Abstract]

Changes in Carrying Value of Investment

The change in the carrying value of our investment in Kronos during the past three years is summarized below:

	Year ended December 31,
	2012			2013			2014
	(In millions)
Balance at the beginning of the year	$	281.3		$	323.1		$	284.5
Equity in earnings (loss) of Kronos		66.4			(31.0	)		30.2
Dividends received from Kronos		(21.1	)		(21.1	)		(21.1	)
Equity in Kronos' other comprehensive income:
Marketable securities		(.3	)		2.0			(4.2	)
Currency translation		8.6			2.0			(31.3	)
Defined benefit pension plans		(11.6	)		8.5			(20.1	)
Other postretirement benefit plans		(.2	)		1.2			(.3	)
Other		-			(.2	)		-
Balance at the end of the year	$	323.1		$	284.5		$	237.7

Selected Financial Information of Kronos Balance Sheet

Selected financial information of Kronos is summarized below:

	December 31,
	2013		2014
	(In millions)
Current assets	$	781.2	$	886.2
Property and equipment, net		536.3		479.7
Investment in TiO2 joint venture		102.3		89.0
Other noncurrent assets		199.3		187.6
Total assets	$	1,619.1	$	1,642.5
Current liabilities	$	278.0	$	237.9
Long-term debt		180.4		344.7
Accrued pension and postretirement benefits		171.6		245.2
Other noncurrent liabilities		54.0		33.6
Stockholders' equity		935.1		781.1
Total liabilities and stockholders' equity	$	1,619.1	$	1,642.5

Selected Financial Information of Kronos Income Statement

	Year ended December 31,
	2012		2013			2014
	(In millions)
Net sales	$	1,976.3	$	1,732.4		$	1,651.9
Cost of sales		1,415.9		1,620.2			1,302.2
Income (loss) from operations		359.6		(132.6	)		149.7
Net income (loss)		218.5		(102.0	)		99.2