$KRO
KRONOS WORLDWIDE INC

2013 Q3 Form 10-Q Financial Statement

#000156459013001001 Filed on November 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $419.1M $472.9M
YoY Change -11.38% -13.7%
Cost Of Revenue $371.9M $386.9M
YoY Change -3.88% 14.77%
Gross Profit $47.20M $86.00M
YoY Change -45.12% -59.22%
Gross Profit Margin 11.26% 18.19%
Selling, General & Admin $44.70M $43.30M
YoY Change 3.23% -13.23%
% of Gross Profit 94.7% 50.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.60M $11.50M
YoY Change 9.57% -4.96%
% of Gross Profit 26.69% 13.37%
Operating Expenses $83.90M $43.30M
YoY Change 93.76% -13.23%
Operating Profit -$36.70M $38.50M
YoY Change -195.32% -75.42%
Interest Expense $4.500M $7.000M
YoY Change -35.71% -13.58%
% of Operating Profit 18.18%
Other Income/Expense, Net
YoY Change
Pretax Income -$43.50M $33.80M
YoY Change -228.7% -77.42%
Income Tax -$13.60M -$1.400M
% Of Pretax Income -4.14%
Net Earnings -$29.90M $35.20M
YoY Change -184.94% -59.02%
Net Earnings / Revenue -7.13% 7.44%
Basic Earnings Per Share
Diluted Earnings Per Share -$258.0K $303.7K
COMMON SHARES
Basic Shares Outstanding 115.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.80M $110.9M
YoY Change -46.08% -29.18%
Cash & Equivalents $59.80M $110.9M
Short-Term Investments $0.00
Other Short-Term Assets $31.40M $23.20M
YoY Change 35.34% 69.34%
Inventory $393.4M $604.2M
Prepaid Expenses
Receivables $275.4M $287.7M
Other Receivables $61.50M $28.60M
Total Short-Term Assets $821.5M $1.055B
YoY Change -22.1% 25.49%
LONG-TERM ASSETS
Property, Plant & Equipment $524.0M $491.4M
YoY Change 6.63% 2.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $140.4M $194.9M
YoY Change -27.96% 3.18%
Other Assets $187.9M $23.30M
YoY Change 706.44% -85.9%
Total Long-Term Assets $852.3M $490.2M
YoY Change 73.87% -47.64%
TOTAL ASSETS
Total Short-Term Assets $821.5M $1.055B
Total Long-Term Assets $852.3M $490.2M
Total Assets $1.674B $2.036B
YoY Change -17.8% 14.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $118.7M $153.2M
YoY Change -22.52% -6.36%
Accrued Expenses $79.40M $48.00M
YoY Change 65.42% -21.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $20.70M $21.50M
YoY Change -3.72% 877.27%
Total Short-Term Liabilities $297.4M $305.5M
YoY Change -2.65% 3.63%
LONG-TERM LIABILITIES
Long-Term Debt $203.3M $416.1M
YoY Change -51.14% 3.84%
Other Long-Term Liabilities $229.4M $29.00M
YoY Change 691.03% -81.0%
Total Long-Term Liabilities $432.7M $615.1M
YoY Change -29.65% 11.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $297.4M $305.5M
Total Long-Term Liabilities $432.7M $615.1M
Total Liabilities $753.3M $920.6M
YoY Change -18.17% 3.71%
SHAREHOLDERS EQUITY
Retained Earnings -$105.7M
YoY Change
Common Stock $1.200M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $920.5M $1.116B
YoY Change
Total Liabilities & Shareholders Equity $1.674B $2.036B
YoY Change -17.8% 14.61%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$29.90M $35.20M
YoY Change -184.94% -59.02%
Depreciation, Depletion And Amortization $12.60M $11.50M
YoY Change 9.57% -4.96%
Cash From Operating Activities $75.90M $124.5M
YoY Change -39.04% -23.71%
INVESTING ACTIVITIES
Capital Expenditures -$16.10M -$13.60M
YoY Change 18.38% -3.55%
Acquisitions
YoY Change
Other Investing Activities $200.0K -$12.30M
YoY Change -101.63% 4000.0%
Cash From Investing Activities -$15.90M -$25.90M
YoY Change -38.61% 79.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -103.7M -81.80M
YoY Change 26.77% -23.69%
NET CHANGE
Cash From Operating Activities 75.90M 124.5M
Cash From Investing Activities -15.90M -25.90M
Cash From Financing Activities -103.7M -81.80M
Net Change In Cash -43.70M 16.80M
YoY Change -360.12% -59.62%
FREE CASH FLOW
Cash From Operating Activities $75.90M $124.5M
Capital Expenditures -$16.10M -$13.60M
Free Cash Flow $92.00M $138.1M
YoY Change -33.38% -22.11%

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CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
4200000
CY2012Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-114300000
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-85100000
CY2011Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-91800000
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-63500000
CY2012Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
38100000
CY2013Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
21000000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
15600000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-600000
CY2012Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-222800000
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-212600000
CY2011Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-185800000
CY2012Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-179000000
CY2012Q4 us-gaap Foreign Currency Derivatives At Fair Value Net
ForeignCurrencyDerivativesAtFairValueNet
1800000
CY2013Q3 kro Fair Value Of Currency Forward Contracts Recognized In Accounts And Other Receivables
FairValueOfCurrencyForwardContractsRecognizedInAccountsAndOtherReceivables
800000
CY2013Q3 kro Fair Value Of Currency Forward Contracts Recognized In Accounts Payable And Accrued Liabilities
FairValueOfCurrencyForwardContractsRecognizedInAccountsPayableAndAccruedLiabilities
1300000
us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
500000
CY2012Q4 kro Debt Instrument Base Principal Amount
DebtInstrumentBasePrincipalAmount
1000
CY2012Q4 kro Debt Instrument Estimated Market Price Per Base Principal Amount
DebtInstrumentEstimatedMarketPricePerBasePrincipalAmount
1017.5
CY2013Q3 us-gaap Litigation Reserve
LitigationReserve
35000000
CY2013Q3 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
35000000

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