View Filing Data

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Jul. 31, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	KRONOS WORLDWIDE INC
Entity Central Index Key	0001257640
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		115,906,598

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 91.6	$ 82.5
Restricted cash	2.0	1.9
Marketable securities		20.9
Accounts and other receivables	437.9	299.9
Inventories	641.3	444.2
Prepaid expenses and other	6.1	5.7
Deferred income taxes	9.8	9.9
Total current assets	1,188.7	865.0
Other assets:
Investment in TiO2 manufacturing joint venture	108.6	89.2
Note receivable from Valhi	154.9	136.1
Marketable securities	69.6	98.4
Deferred income taxes	106.3	133.0
Other	20.8	16.7
Total other assets	460.2	473.4
Property and equipment:
Land	41.9	43.2
Buildings	220.6	226.6
Equipment	998.6	1,018.0
Mining properties	114.1	114.9
Construction in progress	31.2	27.0
Gross property and equipment	1,406.4	1,429.7
Less accumulated depreciation and amortization	939.5	944.2
Net property and equipment	466.9	485.5
Total assets	2,115.8	1,823.9
Current liabilities:
Current maturities of long-term debt	21.7	2.2
Accounts payable and accrued liabilities	339.4	294.4
Income taxes	25.0	25.2
Deferred income taxes	5.9	6.2
Total current liabilities	392.0	328.0
Noncurrent liabilities:
Long-term debt	475.3	362.9
Deferred income taxes	34.8	41.0
Accrued pension cost	119.0	127.6
Accrued postretirement benefit cost	12.9	12.7
Other	27.8	27.4
Total noncurrent liabilities	669.8	571.6
Stockholders' equity:
Common stock	1.2	1.2
Additional paid-in capital	1,399.1	1,399.0
Retained deficit	(123.5)	(290.1)
Accumulated other comprehensive loss	(222.8)	(185.8)
Total stockholders' equity	1,054.0	924.3
Total liabilities and stockholders' equity	2,115.8	1,823.9
Commitments and contingencies (Notes 8 and 11)

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Condensed Consolidated Statements of Income [Abstract]
Net sales	$ 545.3	$ 537.5	$ 1,106.6	$ 957.9
Cost of sales	382.0	340.5	681.8	614.5
Gross margin	163.3	197.0	424.8	343.4
Selling, general and administrative expense	47.1	51.1	95.9	94.8
Currency transaction gains, net	0.4	0.9	0.5	2.3
Other operating expense, net	(6.0)	(2.6)	(9.4)	(4.3)
Income from operations	110.6	144.2	320.0	246.6
Other income (expense):
Interest and dividend income	2.0	1.7	4.3	3.4
Loss on prepayment of debt	(7.2)		(7.2)	(3.3)
Interest expense	(6.7)	(8.5)	(13.0)	(18.1)
Income before income taxes	98.7	137.4	304.1	228.6
Income tax expense	34.2	48.4	102.7	79.3
Net income	$ 64.5	$ 89.0	$ 201.4	$ 149.3
Net income per basic and diluted share	$ 0.56	$ 0.77	$ 1.74	$ 1.29
Cash dividends per share	$ 0.15	$ 0.15	$ 0.30	$ 0.775
Weighted-average shares used in the calculation of net income per share	115.9	115.9	115.9	115.9

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Defined Benefit Plan Disclosure [Line Items]
Net income	$ 64.5	$ 89.0	$ 201.4	$ 149.3
Other comprehensive income (loss), net of tax:
Marketable securities adjustment	(10.7)	5.5	(17.9)	10.0
Currency translation adjustment	(39.1)	1.7	(22.5)	13.9
Total other comprehensive income (loss)	(48.1)	8.6	(37.0)	26.8
Comprehensive income	16.4	97.6	164.4	176.1
Defined Benefit Plans [Member]
Other comprehensive income (loss), net of tax:
Benefit plans	1.8	1.5	3.5	3.1
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent	1.8	1.5	3.5	3.1
Postretirement Benefits [Member]
Other comprehensive income (loss), net of tax:
Benefit plans	(0.1)	(0.1)	(0.1)	(0.2)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent	$ (0.1)	$ (0.1)	$ (0.1)	$ (0.2)

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2012 - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Retained deficit	Accumulated other comprehensive loss
Beginning balance at Dec. 31, 2011	$ 924.3	$ 1.2	$ 1,399.0	$ (290.1)	$ (185.8)
Net income	201.4			201.4
Other comprehensive income, net	(37.0)				(37.0)
Issuance of common stock	0.1		0.1
Dividends paid	(34.8)			(34.8)
Ending balance at Jun. 30, 2012	$ 1,054.0	$ 1.2	$ 1,399.1	$ (123.5)	$ (222.8)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-Publisher FASB
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+ Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income	$ 201.4	$ 149.3
Depreciation and amortization	23.9	23.8
Deferred income taxes	28.2	28.7
Loss on prepayment of debt	7.2	3.3
Call premium and interest paid on Senior Notes redeemed	(6.2)	(2.5)
Benefit plan expense greater (less) than cash funding:
Defined benefit pension plans	(0.6)	(0.8)
Other postretirement benefits	0.1	(0.1)
Distributions from (contributions to) TiO2 manufacturing joint venture, net	(19.4)	3.0
Other, net	2.4	1.8
Change in assets and liabilities:
Accounts and other receivables	(167.4)	(119.0)
Inventories	(218.0)	(17.0)
Prepaid expenses	(0.5)	1.7
Accounts payable and accrued liabilities	45.5	(5.2)
Income taxes	(0.2)	11.7
Accounts with affiliates	34.7	1.4
Other, net	1.9	0.1
Net cash provided by (used in) operating activities	(67.0)	80.2
Cash flows from investing activities:
Capital expenditures	(31.9)	(24.6)
Change in restricted cash equivalents	(2.0)	0.2
Loans to Valhi:
Loans	(68.6)	(82.9)
Collections	49.8	75.8
Proceeds from sale of marketable securities - mutual funds	21.1	162.0
Purchase of marketable securities:
Other, net		(5.1)
Net cash used in investing activities	(31.6)	(159.1)
Indebtedness:
Borrowings	501.4	113.3
Principal payments	(353.1)	(179.5)
Dividends paid	(34.8)	(89.8)
Deferred financing fees	(4.5)
Other, net		(0.1)
Net cash provided by (used in) financing activities	109.0	(156.1)
Cash and cash equivalents - net change from:
Operating, investing and financing activities	10.4	(235.0)
Currency translation	(1.3)	2.5
Balance at beginning of period	82.5	304.7
Balance at end of period	91.6	72.2
Cash paid for:
Interest (including call premium paid)	22.0	21.4
Income taxes	72.1	40.0
Accrual for capital expenditures	$ 3.2	6.7
Mutual Funds [Member]
Purchase of marketable securities:
Purchase of marketable securities		(241.3)
TIMET Common Stock [Member]
Purchase of marketable securities:
Purchase of marketable securities		(30.4)
Valhi Common Stock [Member]
Purchase of marketable securities:
Purchase of marketable securities		$ (12.8)

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2012

Organization and basis of presentation [Abstract]

Organization and basis of presentation

Note 1 – Organization and basis of presentation:

Organization – We are a majority-owned subsidiary of Valhi, Inc. (NYSE: VHI). At June 30, 2012, Valhi held approximately 50% of our outstanding common stock and NL Industries, Inc. (NYSE: NL) held an additional 30% of our common stock. Valhi owns approximately 83% of NL’s outstanding common stock. Approximately 95% of Valhi’s outstanding common stock is held by Contran Corporation and its subsidiaries. Substantially all of Contran’s outstanding voting stock is held by trusts established for the benefit of certain children and grandchildren of Harold C. Simmons (for which Mr. Simmons is the sole trustee), or is held directly by Mr. Simmons or other persons or entities related to Mr. Simmons. Consequently, Mr. Simmons may be deemed to control Contran, Valhi and us.

Basis of presentation – The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2011 that we filed with the Securities and Exchange Commission (SEC) on March 5, 2012 (2011 Annual Report). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments) in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet and Statement of Stockholders’ Equity at December 31, 2011 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2011) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Our results of operations for the interim periods ended June 30, 2012 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2011 Consolidated Financial Statements contained in our 2011 Annual Report.

Unless otherwise indicated, references in this report to “we,” “us” or “our” refer to Kronos Worldwide, Inc. and its subsidiaries (NYSE: KRO) taken as a whole.

In May 2011, we implemented a 2-for-1 split of our common stock effected in the form of a stock dividend. We have adjusted all share and per-share disclosures for all periods presented prior to May 2011 to give effect to the stock split. Cash dividends in the first quarter of 2011 include a $.50 per share special dividend.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

Marketable Securities

6 Months Ended

Jun. 30, 2012

Marketable securities [Abstract]

Marketable securities

Note 2 – Marketable securities:

Our marketable securities at June 30, 2012 consist of investments in the publicly-traded shares of related parties: Titanium Metals Corporation (TIMET), Valhi, NL and CompX International Inc. Contran, Mr. Harold Simmons and persons and other entities related to Mr. Simmons own a majority of TIMET’s outstanding common stock, and NL owns a majority of CompX’s outstanding common stock. All of our marketable securities at June 30, 2012 and December 31, 2011 are accounted for as available-for-sale, which are carried at fair value using quoted market prices in active markets for each marketable security, and represent a Level 1 input within the fair value hierarchy. See Note 12. Because we have classified all of our marketable securities as available-for-sale, any unrealized gains or losses on the securities are recognized through other comprehensive income.


Marketable security	Fair value measurement level		Market Value		Cost Basis		Unrealized gains (losses)
			(In millions)
As of December 31, 2011:
Current assets:
Mutual funds		1	$	20.9	$	21.1	$	(.2	)


Noncurrent assets:
TIMET common stock		1	$	63.6	$	73.9	$	(10.3	)
Valhi common stock		1		34.7		15.3		19.4
NL and CompX common stocks		1		.1		.1		—

Total			$	98.4	$	89.3	$	9.1

As of June 30, 2012:
Noncurrent assets:
TIMET common stock		1	$	48.0	$	73.9	$	(25.9	)
Valhi common stock		1		21.5		15.3		6.2
NL and CompX common stocks		1		.1		.1		—

Total			$	69.6	$	89.3	$	(19.7	)

At December 31, 2011 and June 30, 2012, we held approximately 4.2 million shares, or 2.4%, of TIMET’s outstanding common stock and approximately 1.7 million shares of Valhi’s common stock. At June 30, 2012, the quoted market price of TIMET’s and Valhi’s common stock was $11.31 and $12.49 per share, respectively. At December 31, 2011, such quoted market prices were $14.98 and $20.16 per share, respectively. In May 2012, Valhi implemented a 3-for-1 split of its common stock. We have adjusted all share and per-share disclosures related to our investment in Valhi stock for all periods prior to May 2012 to give effect to the stock split. The stock split had no financial statement impact to us, and our ownership interest in Valhi did not change as a result of the split. We also held a nominal number of shares of CompX and NL common stocks.

The TIMET, Valhi, CompX and NL common stocks we own are subject to the restrictions on resale pursuant to certain provisions of SEC Rule 144. In addition, as a majority-owned subsidiary of Valhi we cannot vote our shares of Valhi common stock under Delaware Corporation Law, but we do receive dividends from Valhi on these shares, when declared and paid.

With respect to our investment in TIMET, our cost basis has exceeded its market value since October 2011 but we consider such decline in market price to be temporary at June 30, 2012. We considered all available evidence in reaching this conclusion, including our ability and intent to hold this investment for a reasonable period of time sufficient for the recovery of fair value, as evidenced by the amount of liquidity we currently have with cash on hand. We will continue to monitor the quoted market price for this investment. In this regard, as of August 3, 2012, the aggregate quoted market price for our shares of TIMET common stock was $22.4 million less than our aggregate cost basis. If we conclude in the future that a decline in value of one or more of these securities was other than temporary, we would recognize impairment through an income statement charge at that time. Such income statement impairment charge would be offset in other comprehensive income by the reversal of the previously recognized unrealized losses to the extent they were previously recognized in accumulated other comprehensive income.

At December 31, 2011, we held investments in various mutual funds which had a primary investment objective of holding corporate and government debt securities from U.S. and other markets. These funds were liquidated for cash proceeds in the first quarter of 2012.

Accounts and Other Receivables

6 Months Ended

Jun. 30, 2012

Accounts and other receivables [Abstract]

Accounts and other receivables

Note 3 – Accounts and other receivables:


	December 31, 2011			June 30, 2012
	(In millions)
Trade receivables	$	247.2		$	391.7
Receivable from affiliate - Louisiana Pigment Company, L.P.		29.6			20.0
Recoverable VAT and other receivables		22.3			25.0
Refundable income taxes		2.0			2.3
Allowance for doubtful accounts		(1.2	)		(1.1	)


Total	$	299.9		$	437.9

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

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-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

+ Details

Inventories

6 Months Ended

Jun. 30, 2012

Inventories [Abstract]

Inventories

Note 4 – Inventories:


	December 31, 2011		June 30, 2012
	(In millions)
Raw materials	$	89.6	$	208.9
Work in process		17.3		16.1
Finished products		280.7		357.2
Supplies		56.6		59.1


Total	$	444.2	$	641.3

Other Noncurrent Assets

6 Months Ended

Jun. 30, 2012

Other noncurrent assets [Abstract]

Other noncurrent assets

Note 5 – Other noncurrent assets:


	December 31, 2011		June 30, 2012
	(In millions)
Deferred financing costs, net	$	2.0	$	5.8
Restricted cash		5.4		7.2
Other		9.3		7.8


Total	$	16.7	$	20.8

Accounts Payable and Accrued Liabilities

6 Months Ended

Jun. 30, 2012

Accounts payable and accrued liabilities [Abstract]

Accounts payable and accrued liabilities

Note 6 – Accounts payable and accrued liabilities:


	December 31, 2011		June 30, 2012
	(In millions)
Accounts payable	$	186.6	$	233.8
Employee benefits		35.3		26.3
Accrued sales discounts and rebates		11.9		12.2
Accrued interest		5.0		1.3
Payable to affiliates:
Income taxes, net – Valhi		8.6		9.9
Louisiana Pigment Company, L.P.		—		21.4
Other		47.0		34.5


Total	$	294.4	$	339.4

Long-term Debt

6 Months Ended

Jun. 30, 2012

Long-term debt [Abstract]

Long-term debt

Note 7 – Long-term debt:


	December 31, 2011		June 30, 2012
	(In millions)
Term loan	$	—	$	394.0
Kronos International, Inc. 6.5% Senior Secured Notes		360.6		—
Revolving European credit facility		—		99.5
Other		4.5		3.5


Total debt		365.1		497.0
Less current maturities		2.2		21.7


Total long-term debt	$	362.9	$	475.3

Term Loan – On June 13, 2012, we entered into a $400 million term loan. We used a portion of the net proceeds of the term loan to redeem the remaining outstanding 6.5% Senior Secured Notes (€279.2 million principal amount outstanding), as discussed below. The term loan was issued at 98.5% of the principal amount, or an aggregate of $394 million. The term loan provides for an additional $100 million of term loan borrowings in the future under certain conditions. The remaining net proceeds of the term loan, plus any additional term loan which might be borrowed in the future, are available for our general corporate purposes. The term loan permits the continued payment of regular quarterly dividends as well as the payment of special dividends, if any. The term loan:

•

bears interest, at our option, at LIBOR (with LIBOR no less than 1.0%) plus 4.75% or the base rate, as defined in the agreement, plus 3.75%. The average interest rate on these borrowings at June 30, 2012, and the period from issuance to June 30, 2012, was 5.75% and 6.25%, respectively;

•

requires quarterly principal repayments of $5.0 million commencing in September 2012, other mandatory principal repayments of formula-determined amounts under specified conditions with all remaining principal balance due in June 2018. Voluntary principal prepayments are permitted at any time (without penalty);

•

is collateralized by, among other things, a first priority lien on (i) 100% of the common stock of certain of our U.S. wholly-owned subsidiaries, (ii) 65% of the common stock or other ownership interest of our Canadian subsidiary (Kronos Canada, Inc.) and certain first-tier European subsidiaries (Kronos Titan GmbH and Kronos Denmark ApS) and (iii) a $362.1 million unsecured promissory note issued by our wholly-owned subsidiary, Kronos International, Inc. (KII) to us;

•

is also collateralized by a second priority lien on all of the U.S. assets which collateralize our new North American revolving facility, as discussed below;

•

contains a number of covenants and restrictions which, among other things, restrict our ability to incur additional debt, incur liens, pay dividends or merge or consolidate with, or sell or transfer substantially all of our assets to, another entity, contains other provisions and restrictive covenants customary in lending transactions of this type and requires the maintenance of a specified financial covenant (leverage to EBITDA, as defined) to be less than or equal to 3.5 to 1.0; and

•

contains customary default provisions, including a default under any of our other indebtedness in excess of $50 million.

The carrying amount of the term loan includes unamortized original issue discount of $6.0 million at June 30, 2012.

Senior Secured Notes – In March 2011, we redeemed €80 million of our €400 million 6.5% Senior Secured Notes at 102.17% of the principal amount for an aggregate of $115.7 million, including a $2.5 million call premium. During the third and fourth quarters of 2011, we repurchased in open market transactions an aggregate of €40.8 million principal amount of the Senior Notes for an aggregate of €40.6 million (an aggregate of $57.6 million when repurchased). Following such partial redemption and repurchases, €279.2 million principal amount of Senior Notes remained outstanding. We recognized a $3.3 million pre-tax interest charge related to the prepayment of the Senior Notes in the first quarter of 2011, consisting of the call premium and the write-off of unamortized deferred financing costs and original issue discount associated with the redeemed Senior Notes.

Immediately upon the June 2012 issuance of the term loan as discussed above, we sent a request to the trustee under the indenture for the Senior Notes, asking that all remaining Senior Notes be called for redemption on July 20, 2012. We also directed that a portion of the proceeds from the new term loan be irrevocably sent to the trustee, in an amount sufficient to pay the principal, call premium at 1.01083% of the principal amount and all accrued and unpaid interest due through the July 20, 2012 redemption date. Upon the trustee’s confirmation of receipt of such funds on June 14, 2012, the trustee discharged our obligations under the indenture and released the liens on all collateral thereunder. Because we were released as being the primary obligor under the indenture as of June 14, 2012, the Senior Notes were derecognized as of that date along with the funds irrevocably sent to the trustee to effect the July 20, 2012 redemption. We recognized an aggregate $7.2 million pre-tax charge related to the early extinguishment of debt in the second quarter of 2012, consisting of the call premium paid, interest from the June 14, 2012 indenture discharge date to the July 20, 2012 redemption date and the write-off of unamortized deferred financing costs and original issue discount associated with the redeemed Senior Notes.

Revolving North American credit facility – Also in June 2012, we entered into a $125 million revolving bank credit facility which matures June 2017. Borrowings under the revolving credit facility are available for our general corporate purposes. Available borrowings on this facility are based on formula-determined amounts of eligible trade receivables and inventories, as defined in the agreement, of certain of our North American subsidiaries less any outstanding letters of credit up to $15 million issued under the facility (with revolving borrowings by our Canadian subsidiary limited to $25 million). Any amounts outstanding under the revolving credit facility bear interest, at our option, at LIBOR plus a margin ranging from 1.5% to 2.0% or at the applicable base rate, as defined in the agreement, plus a margin ranging from .5% to 1.0%. The credit facility is collateralized by, among other things, a first priority lien on the borrowers’ trade receivables and inventories. The facility contains a number of covenants and restrictions which, among other things, restricts the borrowers’ ability to incur additional debt, incur liens, pay dividends or merge or consolidate with, or sell or transfer all or substantially all of their assets to, another entity, contains other provisions and restrictive covenants customary in lending transactions of this type and under certain conditions requires the maintenance of a specified financial covenant (fixed charge coverage ratio, as defined) to be at least 1.0 to 1.0. At June 30, 2012, we had no outstanding borrowings under this revolving credit facility and approximately $125 million was available for borrowing.

Revolving European credit facility – During the first six months of 2012, we borrowed €80 million ($107.4 million when borrowed) under our European credit facility. The average interest rate on these borrowings as of and for the six-months ended June 30, 2012 was 1.88% and 1.94%, respectively.

Canada – At June 30, 2012, an aggregate of Cdn. $7.3 million letters of credit were outstanding under our Canadian subsidiary’s loan agreement with the Bank of Montreal which provides solely for the issuance of up to Cdn. $10.0 million in letters of credit.

Restrictions and other – Our European credit facility described above requires the borrower to maintain minimum levels of equity, requires the maintenance of certain financial ratios, limits dividends and additional indebtedness and contains other provisions and restrictive covenants customary in lending transactions of this type. Our new term loan and North American revolving credit facility also contain restrictive covenants, as described above. We are in compliance with all of our debt covenants at June 30, 2012. We believe that we will be able to comply with the financial covenants contained in our credit facilities and term loan through their maturity; however if future operating results differ materially from our expectations we may be unable to maintain compliance. At June 30, 2012, there were no restrictions on our ability to pay dividends.

Income Taxes

6 Months Ended

Jun. 30, 2012

Income taxes [Abstract]

Income taxes

Note 8 – Income taxes:


	Six months ended June 30,
	2011			2012
	(In millions)
Expected tax expense, at U.S. Federal statutory income tax rate of 35%	$	80.0		$	106.4
Non-U.S. tax rates		(7.5	)		(11.7	)
Incremental tax on earnings of non-U.S. companies		4.7			5.7
U.S. state income taxes, net		.7			1.7
Other, net		1.4			.6


Total	$	79.3		$	102.7

Tax authorities are examining certain of our non-U.S. tax returns and have or may propose tax deficiencies, including interest and penalties. Because of the inherent uncertainties involved in settlement initiatives and court and tax proceedings, we cannot guarantee that these matters will be resolved in our favor, and therefore our potential exposure, if any, is also uncertain. In 2011 and 2012, we received notices of re-assessment from the Canadian federal and provincial tax authorities related to the years 2002 through 2004. We object to the re-assessments and believe the position is without merit. Accordingly, we are appealing the re-assessments and in connection with such appeal we were required to post letters of credit aggregating Cdn. $7.3 million (see Note 7). If the full amount of the proposed adjustment were ultimately to be assessed against us, the cash tax liability would be approximately $15.2 million. We believe we have adequate accruals for additional taxes and related interest expense which could ultimately result from tax examinations. We believe the ultimate disposition of tax examinations should not have a material adverse effect on our consolidated financial position, results of operations or liquidity. We currently estimate that our unrecognized tax benefits will not change materially during the next twelve months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Employee Benefit Plans

6 Months Ended

Jun. 30, 2012

Employee benefit plans [Abstract]

Employee benefit plans

Note 9 – Employee benefit plans:

Defined benefit plans – The components of net periodic defined benefit pension cost are presented in the table below.


	Three months ended June 30,						Six months ended June 30,
	2011			2012			2011			2012
	(In millions)
Service cost	$	2.8		$	2.6		$	5.5		$	5.2
Interest cost		6.3			5.8			12.2			11.6
Expected return on plan assets		(4.9	)		(4.6	)		(9.5	)		(9.2	)
Amortization of prior service cost		.4			.4			.8			.8
Amortization of net transition obligations		.1			.1			.2			.2
Recognized actuarial losses		1.7			2.0			3.3			4.0


Total	$	6.4		$	6.3		$	12.5		$	12.6

Postretirement benefits – The components of net periodic postretirement benefits other than pension (OPEB) cost are presented in the table below.


	Three months ended June 30,						Six months ended June 30,
	2011			2012			2011			2012
	(In millions)
Service cost	$	—		$	—		$	.1		$	.1
Interest cost		.2			.2			.3			.3
Amortization of prior service credit		(.2	)		(.1	)		(.4	)		(.3	)
Recognized actuarial loss		—			.1			.1			.2


Total	$	—		$	.2		$	.1		$	.3

Contributions – We expect our 2012 contributions for our pension and other postretirement plans to be approximately $27 million.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Other Noncurrent Liabilities

6 Months Ended

Jun. 30, 2012

Other noncurrent liabilities [Abstract]

Other noncurrent liabilities

Note 10 – Other noncurrent liabilities:


	December 31, 2011		June 30, 2012
	(In millions)
Reserve for uncertain tax positions	$	11.9	$	13.0
Employee benefits		10.2		9.6
Other		5.3		5.2

Total	$	27.4	$	27.8

Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and contingencies [Abstract]

Commitments and contingencies

Note 11 – Commitments and contingencies:

From time-to-time, we are involved in various environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to our operations. In certain cases, we have insurance coverage for these items. We currently believe the disposition of all claims and disputes, individually or in the aggregate, should not have a material adverse effect on our consolidated financial position, results of operations or liquidity beyond the accruals we have already provided.

Please refer to our 2011 Annual Report for a discussion of certain other legal proceedings to which we are a party.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Financial Instruments

6 Months Ended

Jun. 30, 2012

Financial instruments [Abstract]

Financial instruments

Note 12 – Financial instruments:

The following table summarizes the valuation of our financial instruments recorded on a fair value basis as of December 31, 2011 and June 30, 2012:


	Fair Value Measurements
	Total			Quoted Prices in Active Markets (Level 1)			Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In millions)
Asset (liability)
December 31, 2011
Currency forward contracts	$	(.8	)	$	(.8	)	$	—	$	—
Current marketable securities (See Note 2)		20.9			20.9			—		—
Noncurrent marketable securities (See Note 2)		98.4			98.4			—		—

June 30, 2012
Currency forward contracts	$	(.1	)	$	(.1	)	$	—	$	—
Noncurrent marketable securities (See Note 2)		69.6			69.6			—		—

Certain of our sales generated by our non-U.S. operations are denominated in U.S. dollars. We periodically use currency forward contracts to manage a very nominal portion of currency exchange rate risk associated with trade receivables denominated in a currency other than the holder’s functional currency or similar exchange rate risk associated with future sales. We have not entered into these contracts for trading or speculative purposes in the past, nor do we currently anticipate entering into such contracts for trading or speculative purposes in the future. Derivatives used to hedge forecasted transactions and specific cash flows associated with financial assets and liabilities denominated in currencies other than the U.S. dollar and which meet the criteria for hedge accounting are designated as cash flow hedges. Consequently, the effective portion of gains and losses is deferred as a component of accumulated other comprehensive income and is recognized in earnings at the time the hedged item affects earnings. Contracts that do not meet the criteria for hedge accounting are marked-to-market at each balance sheet date with any resulting gain or loss recognized in income currently as part of net currency transactions. The fair value of the currency forward contracts is determined using Level 1 inputs based on the currency spot forward rates quoted by banks or currency dealers.

At June 30, 2012, we had currency forward contracts to exchange:

•

an aggregate of $24.0 million for an equivalent value of Canadian dollars at exchange rates ranging from Cdn. $1.0 to Cdn. $1.03 per U.S. dollar. These contracts with Wells Fargo Bank, N.A. mature from July 2012 through December 2012 at a rate of $4.0 million per month, subject to early redemption provisions at our option; and

•

an aggregate $30.0 million for an equivalent value of Norwegian kroner at exchange rates ranging from kroner 5.99 to kroner 6.05 per U.S. dollar. These contracts with DnB Nor Bank ASA mature at a rate of $5.0 million per month in certain months from August 2012 through May 2013.

The estimated fair value of our currency forward contracts at June 30, 2012 was a $.1 million net liability, of which $.2 million is recognized as part of accounts and other receivables and $.3 million is recognized as part of accounts payable and accrued liabilities. There is also a corresponding $.1 million currency transaction loss recognized in our Condensed Consolidated Statement of Income. We are not currently using hedge accounting for our outstanding currency forward contracts at June 30, 2012, and we did not use hedge accounting for any of such contracts we previously held in 2011.

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2011 and June 30, 2012.


	December 31, 2011				June 30, 2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)
Cash, cash equivalents and restricted cash	$	89.8	$	89.8	$	100.8	$	100.8

Notes payable and long-term debt:
Fixed rate with market quotes - 6.5% Senior Secured Notes		360.6		362.6		—		—
European credit facility		—		—		99.5		99.5
Term loan		—		—		394.0		394.0
Common stockholders’ equity		924.3		2,090.9		1,054.0		1,830.2

At December 31, 2011, the estimated market price of the 6.5% Notes was approximately €1,004 per €1,000 principal amount. The fair value of our 6.5% Notes was based on quoted market prices at December 31, 2011; however, these quoted market prices represent Level 2 inputs because the markets in which the Notes trade were not active. The fair value of our common stockholders’ equity is based upon quoted market prices at each balance sheet date, which represent Level 1 inputs. The fair values of variable interest rate debt represent Level 2 inputs, and are deemed to approximate book value. Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

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-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Recent Accounting Standards

6 Months Ended

Jun. 30, 2012

Recent accounting standards [Abstract]

Recent accounting standards

Note 13 – Recent accounting standards:

In June 2011 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-05, Presentation of Comprehensive Income. ASU 2011-05 eliminates the option of presenting comprehensive income as a component of the Consolidated Statement of Stockholders’ Equity and instead requires comprehensive income to be presented as a component of the Consolidated Statement of Income or in a separate Consolidated Statement of Comprehensive Income immediately following the Consolidated Statement of Income. In accordance with ASU 2011-05, we now present our comprehensive income in a separate Condensed Consolidated Statement of Comprehensive Income. Additionally, ASU 2011-05 would have required us to present on the face of our financial statements the effect of reclassifications out of accumulative other comprehensive income on the components of net income and other comprehensive income. However, in December 2011 the FASB issued ASU 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. ASU 2011-12 defers the effective date for the requirement to present on the face of our financial statements the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income. Adoption of ASU 2011-05, as amended by ASU 2011-12, did not have a material effect on our Condensed Consolidated Financial Statements.

In December 2011 the FASB issued ASU 2011-11 Disclosures about Offsetting Assets and Liabilities. ASU 2011-11 requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. This standard will be effective for annual and interim periods beginning with our first quarter 2013 report. We do not believe the adoption of this standard will have a material effect on our Condensed Consolidated Financial Statements.

Organization and Basis of Presentation (Policy)	6 Months Ended
Organization and Basis of Presentation (Policy)	Jun. 30, 2012
Organization and basis of presentation [Abstract]
Organization	Organization – We are a majority-owned subsidiary of Valhi, Inc. (NYSE: VHI). At June 30, 2012, Valhi held approximately 50% of our outstanding common stock and NL Industries, Inc. (NYSE: NL) held an additional 30% of our common stock. Valhi owns approximately 83% of NL’s outstanding common stock. Approximately 95% of Valhi’s outstanding common stock is held by Contran Corporation and its subsidiaries. Substantially all of Contran’s outstanding voting stock is held by trusts established for the benefit of certain children and grandchildren of Harold C. Simmons (for which Mr. Simmons is the sole trustee), or is held directly by Mr. Simmons or other persons or entities related to Mr. Simmons. Consequently, Mr. Simmons may be deemed to control Contran, Valhi and us.
Basis of presentation	Basis of presentation – The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2011 that we filed with the Securities and Exchange Commission (SEC) on March 5, 2012 (2011 Annual Report). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments) in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet and Statement of Stockholders’ Equity at December 31, 2011 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2011) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Our results of operations for the interim periods ended June 30, 2012 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2011 Consolidated Financial Statements contained in our 2011 Annual Report.
Marketable Securities	Our marketable securities at June 30, 2012 consist of investments in the publicly-traded shares of related parties: Titanium Metals Corporation (TIMET), Valhi, NL and CompX International Inc. Contran, Mr. Harold Simmons and persons and other entities related to Mr. Simmons own a majority of TIMET’s outstanding common stock, and NL owns a majority of CompX’s outstanding common stock. All of our marketable securities at June 30, 2012 and December 31, 2011 are accounted for as available-for-sale, which are carried at fair value using quoted market prices in active markets for each marketable security, and represent a Level 1 input within the fair value hierarchy. See Note 12. Because we have classified all of our marketable securities as available-for-sale, any unrealized gains or losses on the securities are recognized through other comprehensive income.
Derivatives and Hedging	Certain of our sales generated by our non-U.S. operations are denominated in U.S. dollars. We periodically use currency forward contracts to manage a very nominal portion of currency exchange rate risk associated with trade receivables denominated in a currency other than the holder’s functional currency or similar exchange rate risk associated with future sales. We have not entered into these contracts for trading or speculative purposes in the past, nor do we currently anticipate entering into such contracts for trading or speculative purposes in the future. Derivatives used to hedge forecasted transactions and specific cash flows associated with financial assets and liabilities denominated in currencies other than the U.S. dollar and which meet the criteria for hedge accounting are designated as cash flow hedges. Consequently, the effective portion of gains and losses is deferred as a component of accumulated other comprehensive income and is recognized in earnings at the time the hedged item affects earnings. Contracts that do not meet the criteria for hedge accounting are marked-to-market at each balance sheet date with any resulting gain or loss recognized in income currently as part of net currency transactions. The fair value of the currency forward contracts is determined using Level 1 inputs based on the currency spot forward rates quoted by banks or currency dealers.
Recent Accounting Standards	In June 2011 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-05, Presentation of Comprehensive Income. ASU 2011-05 eliminates the option of presenting comprehensive income as a component of the Consolidated Statement of Stockholders’ Equity and instead requires comprehensive income to be presented as a component of the Consolidated Statement of Income or in a separate Consolidated Statement of Comprehensive Income immediately following the Consolidated Statement of Income. In accordance with ASU 2011-05, we now present our comprehensive income in a separate Condensed Consolidated Statement of Comprehensive Income. Additionally, ASU 2011-05 would have required us to present on the face of our financial statements the effect of reclassifications out of accumulative other comprehensive income on the components of net income and other comprehensive income. However, in December 2011 the FASB issued ASU 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. ASU 2011-12 defers the effective date for the requirement to present on the face of our financial statements the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income. Adoption of ASU 2011-05, as amended by ASU 2011-12, did not have a material effect on our Condensed Consolidated Financial Statements. In December 2011 the FASB issued ASU 2011-11 Disclosures about Offsetting Assets and Liabilities. ASU 2011-11 requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. This standard will be effective for annual and interim periods beginning with our first quarter 2013 report. We do not believe the adoption of this standard will have a material effect on our Condensed Consolidated Financial Statements.

- Definition

Disclosure of accounting policy for its derivative instruments and hedging activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08.(n))
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 39
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph n
-Article 4

+ Details

- Definition

Disclosure of accounting policy for investments in debt and equity securities that have readily determinable fair values (marketable securities). At a minimum, the disclosure might address accounting policies for investments classified as trading, available for sale, or held to maturity and may include how the entity determines whether impairments of available for sale or held to maturity investments are other than temporary, how the fair values of the entity's securities are determined, and the entity's accounting treatment for transfers between investment categories.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2196929

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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 7-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 5
-Section M

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 2, 12
-Article 5

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 7, 8, 9, 13, 14, 15, 16, 17
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10, 11
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2012

Marketable securities [Abstract]

Classification of Marketable Securities


Marketable security	Fair value measurement level		Market Value		Cost Basis		Unrealized gains (losses)
			(In millions)
As of December 31, 2011:
Current assets:
Mutual funds		1	$	20.9	$	21.1	$	(.2	)


Noncurrent assets:
TIMET common stock		1	$	63.6	$	73.9	$	(10.3	)
Valhi common stock		1		34.7		15.3		19.4
NL and CompX common stocks		1		.1		.1		—

Total			$	98.4	$	89.3	$	9.1

As of June 30, 2012:
Noncurrent assets:
TIMET common stock		1	$	48.0	$	73.9	$	(25.9	)
Valhi common stock		1		21.5		15.3		6.2
NL and CompX common stocks		1		.1		.1		—

Total			$	69.6	$	89.3	$	(19.7	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 19, 20, 21
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 17
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Number 03-1
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+ Details

Accounts and other receivables (Tables)

6 Months Ended

Jun. 30, 2012

Accounts and other receivables [Abstract]

Schedule of Accounts and Other Receivables


	December 31, 2011			June 30, 2012
	(In millions)
Trade receivables	$	247.2		$	391.7
Receivable from affiliate - Louisiana Pigment Company, L.P.		29.6			20.0
Recoverable VAT and other receivables		22.3			25.0
Refundable income taxes		2.0			2.3
Allowance for doubtful accounts		(1.2	)		(1.1	)


Total	$	299.9		$	437.9

Inventories (Tables)

6 Months Ended

Jun. 30, 2012

Inventories [Abstract]

Schedule of Inventories


	December 31, 2011		June 30, 2012
	(In millions)
Raw materials	$	89.6	$	208.9
Work in process		17.3		16.1
Finished products		280.7		357.2
Supplies		56.6		59.1


Total	$	444.2	$	641.3

Other Noncurrent Assets (Tables)

6 Months Ended

Jun. 30, 2012

Other noncurrent assets [Abstract]

Schedule of Other Noncurrent Assets


	December 31, 2011		June 30, 2012
	(In millions)
Deferred financing costs, net	$	2.0	$	5.8
Restricted cash		5.4		7.2
Other		9.3		7.8


Total	$	16.7	$	20.8

Accounts Payable and Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2012

Accounts payable and accrued liabilities [Abstract]

Components of accounts payable and accrued liabilities


	December 31, 2011		June 30, 2012
	(In millions)
Accounts payable	$	186.6	$	233.8
Employee benefits		35.3		26.3
Accrued sales discounts and rebates		11.9		12.2
Accrued interest		5.0		1.3
Payable to affiliates:
Income taxes, net – Valhi		8.6		9.9
Louisiana Pigment Company, L.P.		—		21.4
Other		47.0		34.5


Total	$	294.4	$	339.4

Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2012

Long-term debt [Abstract]

Components of long term debt


	December 31, 2011		June 30, 2012
	(In millions)
Term loan	$	—	$	394.0
Kronos International, Inc. 6.5% Senior Secured Notes		360.6		—
Revolving European credit facility		—		99.5
Other		4.5		3.5


Total debt		365.1		497.0
Less current maturities		2.2		21.7


Total long-term debt	$	362.9	$	475.3

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2012

Income taxes [Abstract]

Component of Income Taxes


	Six months ended June 30,
	2011			2012
	(In millions)
Expected tax expense, at U.S. Federal statutory income tax rate of 35%	$	80.0		$	106.4
Non-U.S. tax rates		(7.5	)		(11.7	)
Incremental tax on earnings of non-U.S. companies		4.7			5.7
U.S. state income taxes, net		.7			1.7
Other, net		1.4			.6


Total	$	79.3		$	102.7

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2012

Defined Benefit Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost

Defined benefit plans – The components of net periodic defined benefit pension cost are presented in the table below.


	Three months ended June 30,						Six months ended June 30,
	2011			2012			2011			2012
	(In millions)
Service cost	$	2.8		$	2.6		$	5.5		$	5.2
Interest cost		6.3			5.8			12.2			11.6
Expected return on plan assets		(4.9	)		(4.6	)		(9.5	)		(9.2	)
Amortization of prior service cost		.4			.4			.8			.8
Amortization of net transition obligations		.1			.1			.2			.2
Recognized actuarial losses		1.7			2.0			3.3			4.0


Total	$	6.4		$	6.3		$	12.5		$	12.6

Postretirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost

Postretirement benefits – The components of net periodic postretirement benefits other than pension (OPEB) cost are presented in the table below.


	Three months ended June 30,						Six months ended June 30,
	2011			2012			2011			2012
	(In millions)
Service cost	$	—		$	—		$	.1		$	.1
Interest cost		.2			.2			.3			.3
Amortization of prior service credit		(.2	)		(.1	)		(.4	)		(.3	)
Recognized actuarial loss		—			.1			.1			.2


Total	$	—		$	.2		$	.1		$	.3

Other Noncurrent Liabilities (Tables)

6 Months Ended

Jun. 30, 2012

Other noncurrent liabilities [Abstract]

Components of Other Noncurrent Liabilities


	December 31, 2011		June 30, 2012
	(In millions)
Reserve for uncertain tax positions	$	11.9	$	13.0
Employee benefits		10.2		9.6
Other		5.3		5.2

Total	$	27.4	$	27.8

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Financial instruments [Abstract]

Valuation of Financial Instruments Recorded on Fair Value Basis

The following table summarizes the valuation of our financial instruments recorded on a fair value basis as of December 31, 2011 and June 30, 2012:


	Fair Value Measurements
	Total			Quoted Prices in Active Markets (Level 1)			Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In millions)
Asset (liability)
December 31, 2011
Currency forward contracts	$	(.8	)	$	(.8	)	$	—	$	—
Current marketable securities (See Note 2)		20.9			20.9			—		—
Noncurrent marketable securities (See Note 2)		98.4			98.4			—		—

June 30, 2012
Currency forward contracts	$	(.1	)	$	(.1	)	$	—	$	—
Noncurrent marketable securities (See Note 2)		69.6			69.6			—		—

Financial Instruments Not Carried at Fair Value but Which Require Fair Value Disclosure

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2011 and June 30, 2012.


	December 31, 2011				June 30, 2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)
Cash, cash equivalents and restricted cash	$	89.8	$	89.8	$	100.8	$	100.8

Notes payable and long-term debt:
Fixed rate with market quotes - 6.5% Senior Secured Notes		360.6		362.6		—		—
European credit facility		—		—		99.5		99.5
Term loan		—		—		394.0		394.0
Common stockholders’ equity		924.3		2,090.9		1,054.0		1,830.2

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 19
-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 14
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Organization and Basis of Presentation (Details)	1 Months Ended	3 Months Ended	6 Months Ended
Organization and Basis of Presentation (Details)	May 31, 2011	Mar. 31, 2011 $ / shares	Jun. 30, 2012
Organization and Basis of Presentation (Textual) [Abstract]
Split of Common Stock	2
Special Dividend Included in Cash Dividend for First Quarter 2011		$ 0.50
Valhi, Inc. [Member]
Organization and Basis of Presentation (Textual) [Abstract]
Ownership percentage in subsidiary			50.00%
Ownership percentage in company			83.00%
NL Industries Inc. [Member]
Organization and Basis of Presentation (Textual) [Abstract]
Ownership percentage in subsidiary			30.00%
Contran Corporation [Member]
Organization and Basis of Presentation (Textual) [Abstract]
Ownership percentage in company			95.00%

Marketable Securities (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Classification of Marketable Securities
Marketable securities	$ 69.6	$ 98.4
Current marketable securities (See Note 2)		20.9
Cost Basis	89.3	89.3
Unrealized gains (losses)	(19.7)	9.1
TIMET Common Stock [Member]
Classification of Marketable Securities
Marketable securities	48.0	63.6
Cost Basis	73.9	73.9
Unrealized gains (losses)	(25.9)	(10.3)
NL and CompX Common Stocks [Member]
Classification of Marketable Securities
Marketable securities	0.1	0.1
Cost Basis	0.1	0.1
Valhi Common Stock [Member]
Classification of Marketable Securities
Marketable securities	21.5	34.7
Cost Basis	15.3	15.3
Unrealized gains (losses)	$ 6.2	19.4
Mutual Funds [Member]
Classification of Marketable Securities
Current marketable securities (See Note 2)		20.9
Cost Basis		21.1
Unrealized gains (losses)		$ (0.2)

Marketable Securities (Details Textual) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended
	May 31, 2012	May 31, 2011	Aug. 03, 2012 USD ($)	Jun. 30, 2012 $ / shares shares	Dec. 31, 2011 $ / shares shares
Marketable Securities (Textual) [Abstract]
Stock split conversion ratio		2
TIMET Common Stock [Member]
Marketable Securities (Textual) [Abstract]
Outstanding common stock \| shares					4.2
Percentage of common stock outstanding					2.40%
Quoted market price in excess of cost basis \| $			$ 22.4
Quoted market price of per share \| $ / shares				$ 11.31	$ 14.98
Valhi Common Stock [Member]
Marketable Securities (Textual) [Abstract]
Outstanding common stock \| shares				1.7
Quoted market price of per share \| $ / shares				$ 12.49	$ 20.16
Stock split conversion ratio	3

Accounts and other receivables (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Schedule of Accounts and Other Receivables
Allowance for Doubtful Accounts Receivable, Current	$ (1.1)	$ (1.2)
Total	437.9	299.9
Trade Receivable [Member]
Schedule of Accounts and Other Receivables
Accounts and other receivables	391.7	247.2
Recoverable VAT And Other Receivables [Member]
Schedule of Accounts and Other Receivables
Accounts and other receivables	25.0	22.3
Refundable Income Taxes [Member]
Schedule of Accounts and Other Receivables
Accounts and other receivables	2.3	2.0
Receivable from Affiliate [Member] \| Louisiana Pigment Company, L.P. [Member]
Schedule of Accounts and Other Receivables
Accounts and other receivables	$ 20.0	$ 29.6

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Components of Inventories
Raw materials	$ 208.9	$ 89.6
Work in process	16.1	17.3
Finished products	357.2	280.7
Supplies	59.1	56.6
Total	$ 641.3	$ 444.2

Other Noncurrent Assets (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Components of other noncurrent assets
Deferred financing costs, net	$ 5.8	$ 2.0
Restricted cash	7.2	5.4
Other	7.8	9.3
Total	$ 20.8	$ 16.7

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Components of accounts payable and accrued liabilities
Accounts payable	$ 233.8	$ 186.6
Employee benefits	26.3	35.3
Accrued sales discounts and rebates	12.2	11.9
Accrued interest	1.3	5.0
Payable to affiliates:
Income taxes, net	25.0	25.2
Other	34.5	47.0
Total	339.4	294.4
Valhi, Inc. [Member]
Payable to affiliates:
Payable to affiliates	9.9	$ 8.6
Louisiana Pigment Company, L.P. [Member]
Payable to affiliates:
Payable to affiliates	$ 21.4

Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Components of long term debt
Term Loan	$ 394.0
Kronos International, Inc. 6.5% Senior Secured Notes		$ 360.6
Revolving European credit facility	99.5
Other	3.5	4.5
Total debt	497.0	365.1
Less current maturities	21.7	2.2
Total long-term debt	$ 475.3	$ 362.9

Long-term Debt (Details Textual) € in Millions, $ in Millions	1 Months Ended				3 Months Ended		6 Months Ended
	Sep. 30, 2012 USD ($)	Jun. 30, 2012 CAD ($)	Mar. 31, 2011 EUR (€)	Mar. 31, 2011 USD ($)	Jun. 30, 2012 USD ($)	Mar. 31, 2011 USD ($)	Jun. 30, 2012 EUR (€)	Jun. 30, 2012 USD ($)	Dec. 31, 2011 EUR (€)	Dec. 31, 2011 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($)	Jun. 13, 2012 EUR (€)	Jun. 13, 2012 USD ($)
Long Term Debt (Textual) [Abstract]
Outstanding Amount Of Senior Secured Notes \| €													€ 279.2
Pre-tax interest changes					$ (7,200,000)			$ (7,200,000)			$ (3,300,000)
Revolving credit facility, borrowings								501,400,000			$ 113,300,000
Outstanding borrowings under this revolving credit facility												$ 99,500,000
Aggregate letter of credit outstanding amount		$ 7.3										$ 15,000,000
Canadian first-tier European subsidiaries [Member]
Long Term Debt (Textual) [Abstract]
Revolving credit facility, borrowings								25,000,000
Revolving European Credit Facility [Member]
Long Term Debt (Textual) [Abstract]
Revolving credit facility, borrowings							€ 80.0	$ 107,400,000
Percentage of average interest rate		1.88%										1.88%
Percentage of average interest rate, during period							1.94%	1.94%
Letter of Credit [Member]
Long Term Debt (Textual) [Abstract]
Issuance of letter of credit		$ 10.0
Revolving North American Credit Facility [Member]
Long Term Debt (Textual) [Abstract]
Minimum fixed charge coverage ratio to be maintained							1.0	1.0
Outstanding borrowings under this revolving credit facility												$ 0
Available for borrowing												125,000,000
Open Market Transactions [Member]
Long Term Debt (Textual) [Abstract]
Principal amount of debt redeemed or repurchased \| €									€ 40.8
Term Loan [Member]
Long Term Debt (Textual) [Abstract]
Term Loan												$ 400,000,000
Percentage of term loan issued amount to principal amount													98.50%	98.50%
Amount of Term Loan Issued														$ 394,000,000
Additional Term Loan								$ 100,000,000
Average interest rate of borrowing		5.75%										5.75%
Average interest rate of borrowing from issuance							6.25%	6.25%
Quarterly principal repayments	$ 5,000,000
Note receivable pledged as collateral with related party												$ 362,100,000
Minimum amount of debt default for using customary default provisions								$ 50,000,000
Unamortized discount balance												$ 6,000,000
Remaining principal balance due date							Jun. 30, 2018	Jun. 30, 2018
Term Loan [Member] \| Canadian first-tier European subsidiaries [Member]
Long Term Debt (Textual) [Abstract]
Term Loan Collateralization Priority							65.00%	65.00%
Term Loan [Member] \| U.S. wholly-owned subsidiaries [Member]
Long Term Debt (Textual) [Abstract]
Term Loan Collateralization Priority							100.00%	100.00%
Term Loan [Member] \| Maximum [Member]
Long Term Debt (Textual) [Abstract]
Maintenance of specified financial covenant		3.5										3.5
Term Loan [Member] \| Minimum [Member]
Long Term Debt (Textual) [Abstract]
Minimum LIBOR rate													1.00%	1.00%
Maintenance of specified financial covenant		1.0										1.0
6.5% Senior Secured Notes [Member]
Long Term Debt (Textual) [Abstract]
Percentage of Senior Secured Notes			6.50%	6.50%		6.50%							6.50%	6.50%
Outstanding Amount Of Senior Secured Notes \| €													€ 279.2
Principal amount of debt redeemed or repurchased \| €			€ 80.0
Aggregate redemption or repurchase price on principal amount				$ 115,700,000						$ 57,600,000
Repayment of debt, percentage on principal amount		1.01083%	102.17%	102.17%
Remaining principal balance due date							Jul. 20, 2012	Jul. 20, 2012
Call premium				$ 2,500,000
Pre-tax interest changes						$ 3,300,000
6.5% Senior Secured Notes [Member] \| Open Market Transactions [Member]
Long Term Debt (Textual) [Abstract]
Aggregate redemption or repurchase price on principal amount \| €									€ 40.6
Base Rate [Member] \| Revolving North American Credit Facility [Member] \| Maximum [Member]
Long Term Debt (Textual) [Abstract]
Percentage spread on base rate		1.00%										1.00%
Base Rate [Member] \| Revolving North American Credit Facility [Member] \| Minimum [Member]
Long Term Debt (Textual) [Abstract]
Percentage spread on base rate		0.50%										0.50%
Base Rate [Member] \| Term Loan [Member]
Long Term Debt (Textual) [Abstract]
Percentage spread on base rate													3.75%	3.75%
LIBOR [Member] \| Revolving North American Credit Facility [Member] \| Maximum [Member]
Long Term Debt (Textual) [Abstract]
Percentage spread on LIBOR		2.00%										2.00%
LIBOR [Member] \| Revolving North American Credit Facility [Member] \| Minimum [Member]
Long Term Debt (Textual) [Abstract]
Percentage spread on LIBOR		1.50%										1.50%
LIBOR [Member] \| Term Loan [Member]
Long Term Debt (Textual) [Abstract]
Percentage spread on LIBOR													4.75%	4.75%

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Component of Income Taxes
Expected tax expense, at U.S. Federal statutory income tax rate of 35%			$ 106.4	$ 80.0
Non-U.S. tax rates			(11.7)	(7.5)
Incremental tax on earnings of non-U.S. companies			5.7	4.7
U.S. state income taxes, net			1.7	0.7
Other, net			0.6	1.4
Total	$ 34.2	$ 48.4	$ 102.7	$ 79.3
U.S. Federal statutory income tax rate			35.00%

Income Taxes (Details Textual) - Jun. 30, 2012 $ in Millions, $ in Millions	CAD ($)	USD ($)
Income Taxes (Textual) [Abstract]
Letter of credit	$ 7.3	$ 15.0
Maximum [Member]
Income Taxes (Textual) [Abstract]
Possible cash tax liability		$ 15.2

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Employee Benefit Plans (Textual) [Abstract]
Expected contributions for pension plans in 2012	$ 27.0		$ 27.0
Defined Benefit Plans [Member]
Components of Net Periodic Benefit Cost
Service cost	2.6	$ 2.8	5.2	$ 5.5
Interest cost	5.8	6.3	11.6	12.2
Expected return on plan assets	(4.6)	(4.9)	(9.2)	(9.5)
Amortization of prior service (credit) cost	0.4	0.4	0.8	0.8
Amortization of net transition obligations	0.1	0.1	0.2	0.2
Recognized actuarial losses	2.0	1.7	4.0	3.3
Total	6.3	6.4	12.6	12.5
Postretirement Benefits [Member]
Components of Net Periodic Benefit Cost
Service cost			0.1	0.1
Interest cost	0.2	0.2	0.3	0.3
Amortization of prior service (credit) cost	(0.1)	$ (0.2)	(0.3)	(0.4)
Recognized actuarial losses	0.1		0.2	0.1
Total	$ 0.2		$ 0.3	$ 0.1

Other Noncurrent Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Components of Other Noncurrent Liabilities
Reserve for uncertain tax positions	$ 13.0	$ 11.9
Employee benefits	9.6	10.2
Other	5.2	5.3
Total	$ 27.8	$ 27.4

Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Valuation of financial instruments recorded on fair value basis
Currency forward contracts	$ (0.1)	$ (0.8)
Current marketable securities (See Note 2)		20.9
Noncurrent marketable securities (See Note 2)	69.6	98.4
Quoted Prices In Active Markets (Level 1) [Member]
Valuation of financial instruments recorded on fair value basis
Currency forward contracts	(0.1)	(0.8)
Current marketable securities (See Note 2)		20.9
Noncurrent marketable securities (See Note 2)	69.6	$ 98.4
Significant Other Observable Inputs (Level 2) [Member]
Valuation of financial instruments recorded on fair value basis
Currency forward contracts
Noncurrent marketable securities (See Note 2)
Significant Unobservable Inputs (Level 3) [Member]
Valuation of financial instruments recorded on fair value basis
Currency forward contracts
Noncurrent marketable securities (See Note 2)

Financial Instruments (Details 1) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Notes payable and long-term debt:
Common stockholders' equity	$ 1,054.0	$ 924.3
Carrying Amount [Member]
Financial instruments not carried at fair value but which require fair value disclosure
Cash, cash equivalents and restricted cash	100.8	89.8
Notes payable and long-term debt:
Term Loan	394.0
Common stockholders' equity	1,054.0	924.3
Carrying Amount [Member] \| Revolving European Credit Facility [Member]
Notes payable and long-term debt:
European credit facility	99.5
Carrying Amount [Member] \| 6.5% Senior Secured Notes [Member]
Notes payable and long-term debt:
Fixed rate with market quotes - 6.5% Senior Secured Notes		360.6
Fair Value [Member]
Financial instruments not carried at fair value but which require fair value disclosure
Cash, cash equivalents and restricted cash	100.8	89.8
Notes payable and long-term debt:
Term Loan	394.0
Common stockholders' equity	1,830.2	2,090.9
Fair Value [Member] \| Revolving European Credit Facility [Member]
Notes payable and long-term debt:
European credit facility	99.5
Fair Value [Member] \| 6.5% Senior Secured Notes [Member]
Notes payable and long-term debt:
Fixed rate with market quotes - 6.5% Senior Secured Notes		$ 362.6

Financial Instruments (Details Textual) $ in Millions	6 Months Ended
Financial Instruments (Details Textual) $ in Millions	Jun. 30, 2012 USD ($) Rate	Dec. 31, 2011 EUR (€)	Dec. 31, 2011 USD ($)
Financial Instruments (Textual) [Abstract]
Estimated fair value of currency forward contracts included in balance sheet	$ (0.1)		$ (0.8)
Estimated fair value of currency forward contracts included accounts and other receivables	0.2
Estimated fair value of currency forward contracts included accounts payable and accrued liabilities	0.3
Currency transaction loss	0.1
Wells Fargo Bank, NA [Member]
Financial Instruments (Textual) [Abstract]
Forward currency contracts aggregate exchange value	24.0
Foreign currency contracts maturing value	4.0
DnB Nor Bank ASA [Member]
Financial Instruments (Textual) [Abstract]
Forward currency contracts aggregate exchange value	30.0
Foreign currency contracts maturing value	$ 5.0
6.5% Senior Secured Notes [Member]
Financial Instruments (Textual) [Abstract]
Percentage of Senior Secured Notes		6.50%	6.50%
Debt instrument, estimated market price per euro 1,000 principal amount \| €		€ 1,004
Debt instrument base principal amount \| €		€ 1,000
Minimum [Member] \| Wells Fargo Bank, NA [Member]
Financial Instruments (Textual) [Abstract]
Forward currency contracts, exchange rate \| Rate	100.00%
Minimum [Member] \| DnB Nor Bank ASA [Member]
Financial Instruments (Textual) [Abstract]
Forward currency contracts, exchange rate \| Rate	599.00%
Maximum [Member] \| Wells Fargo Bank, NA [Member]
Financial Instruments (Textual) [Abstract]
Forward currency contracts, exchange rate \| Rate	103.00%
Maximum [Member] \| DnB Nor Bank ASA [Member]
Financial Instruments (Textual) [Abstract]
Forward currency contracts, exchange rate \| Rate	605.00%