Investment in Kronos Worldwide, Inc. (Tables)

12 Months Ended

Dec. 31, 2016

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:

	Years ended December 31,
	2014			2015			2016
	(In millions)
Balance at the beginning of the year	$	284.5		$	237.7		$	140.7
Equity in earnings (losses) of Kronos		30.2			(52.8	)		13.2
Dividends received from Kronos		(21.1	)		(21.1	)		(21.1	)
Equity in Kronos' other comprehensive income (loss):
Marketable securities		(4.2	)		0.7			.7
Currency translation		(31.3	)		(28.0	)		(5.4	)
Interest rate swap		-			(0.7	)		.1
Defined benefit pension plans		(20.1	)		4.9			(7.8	)
Other postretirement benefit plans		(0.3	)		-			(.1	)
Other		-			-			-
Balance at the end of the year	$	237.7		$	140.7		$	120.3

Selected Financial Information of Kronos Balance Sheet

Selected financial information of Kronos is summarized below:

	December 31,
	2015		2016
	(In millions)
Current assets	$	710.8	$	650.4
Property and equipment, net		429.5		434.0
Investment in TiO2 joint venture		82.9		78.9
Other noncurrent assets		19.5		16.3
Total assets	$	1,242.7	$	1,179.6
Current liabilities	$	201.7	$	182.1
Long-term debt		337.2		335.4
Accrued pension and postretirement benefits		209.4		234.2
Other noncurrent liabilities		32.5		32.9
Stockholders' equity		461.9		395.0
Total liabilities and stockholders' equity	$	1,242.7	$	1,179.6

Selected Financial Information of Kronos Income Statement

	Years ended December 31,
	2014		2015			2016
	(In millions)
Net sales	$	1,651.9	$	1,348.8		$	1,364.3
Cost of sales		1,302.2		1,156.5			1,107.3
Income (loss) from operations		149.7		(1.1	)		81.1
Income tax expense		34.5		142.8			17.9
Net income (loss)		99.2		(173.6	)		43.3