$KRO
KRONOS WORLDWIDE INC

2017 Q4 Form 10-K Financial Statement

#000156459018005295 Filed on March 12, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $453.3M $464.5M $441.4M
YoY Change 35.84% 30.44% 23.95%
Cost Of Revenue $269.0M $312.3M $309.0M
YoY Change 8.42% 11.3% 2.79%
Gross Profit $176.3M $155.0M $132.4M
YoY Change 105.96% 105.3% 138.56%
Gross Profit Margin 38.89% 33.37% 30.0%
Selling, General & Admin $62.10M $53.00M $51.00M
YoY Change 11.69% 21.56% 13.33%
% of Gross Profit 35.22% 34.19% 38.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.50M $10.50M $10.10M
YoY Change 7.14% 6.06% -4.72%
% of Gross Profit 5.96% 6.77% 7.63%
Operating Expenses $50.60M $53.00M $51.00M
YoY Change 13.2% 21.56% 8.74%
Operating Profit $125.7M $91.60M $81.40M
YoY Change 207.33% 227.14% 846.51%
Interest Expense -$3.300M $5.000M $4.800M
YoY Change 22.22% -3.85% -5.88%
% of Operating Profit -2.63% 5.46% 5.9%
Other Income/Expense, Net -$17.40M
YoY Change
Pretax Income $112.6M $79.90M $65.40M
YoY Change 197.1% 248.91% 1067.86%
Income Tax -$11.00M $6.100M -$131.1M
% Of Pretax Income -9.77% 7.63% -200.46%
Net Earnings $47.40M $73.80M $196.5M
YoY Change 104.31% 232.43% 11458.82%
Net Earnings / Revenue 10.46% 15.89% 44.52%
Basic Earnings Per Share
Diluted Earnings Per Share $409.0K $636.8K $1.695M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $322.0M $316.7M $114.1M
YoY Change 535.11% 243.87% 44.07%
Cash & Equivalents $322.0M $318.0M $115.4M
Short-Term Investments
Other Short-Term Assets $11.70M $13.80M $9.300M
YoY Change 0.86% 2.22% 17.72%
Inventory $382.3M $335.3M $341.8M
Prepaid Expenses
Receivables $300.0M $334.5M $314.0M
Other Receivables $46.50M $20.90M $20.80M
Total Short-Term Assets $1.063B $1.021B $800.0M
YoY Change 63.36% 47.89% 14.71%
LONG-TERM ASSETS
Property, Plant & Equipment $506.4M $486.2M $466.4M
YoY Change 16.68% 8.87% 6.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $97.20M $79.40M $75.70M
YoY Change 14.49% -5.25% -4.18%
Other Assets $5.500M $123.6M $130.8M
YoY Change 150.0% 500.0% 610.87%
Total Long-Term Assets $761.9M $689.2M $672.9M
YoY Change 43.97% 25.08% 25.31%
TOTAL ASSETS
Total Short-Term Assets $1.063B $1.021B $800.0M
Total Long-Term Assets $761.9M $689.2M $672.9M
Total Assets $1.824B $1.710B $1.473B
YoY Change 54.66% 37.77% 19.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.9M $116.8M $95.80M
YoY Change 27.09% 43.84% 7.28%
Accrued Expenses $38.90M $50.80M $43.70M
YoY Change -9.74% 8.32% 0.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $100.0K $3.600M
YoY Change -80.56% -99.55% -89.29%
Total Short-Term Liabilities $231.5M $240.0M $210.9M
YoY Change 27.13% 16.22% -3.52%
LONG-TERM LIABILITIES
Long-Term Debt $473.8M $467.5M $350.8M
YoY Change 41.26% 39.14% 4.25%
Other Long-Term Liabilities $21.50M $21.70M $281.8M
YoY Change -4.02% -11.43% 20.48%
Total Long-Term Liabilities $838.6M $759.7M $632.6M
YoY Change 39.19% 30.96% 10.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $231.5M $240.0M $210.9M
Total Long-Term Liabilities $838.6M $759.7M $632.6M
Total Liabilities $1.070B $999.7M $852.1M
YoY Change 36.39% 27.09% 6.81%
SHAREHOLDERS EQUITY
Retained Earnings -$267.2M -$297.3M
YoY Change -51.61% -46.73%
Common Stock $1.400B $1.400B
YoY Change 0.01% 0.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $754.3M $710.7M $620.8M
YoY Change
Total Liabilities & Shareholders Equity $1.824B $1.710B $1.473B
YoY Change 54.66% 37.77% 19.32%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $47.40M $73.80M $196.5M
YoY Change 104.31% 232.43% 11458.82%
Depreciation, Depletion And Amortization $10.50M $10.50M $10.10M
YoY Change 7.14% 6.06% -4.72%
Cash From Operating Activities $57.80M $116.7M $60.00M
YoY Change 176.56% 123.99% 88.09%
INVESTING ACTIVITIES
Capital Expenditures -$23.60M -$14.10M -$14.70M
YoY Change 26.2% 33.02% 56.38%
Acquisitions
YoY Change
Other Investing Activities -$13.60M $0.00
YoY Change
Cash From Investing Activities -$37.20M -$14.10M -$14.70M
YoY Change 98.93% 33.02% 47.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.90M 97.10M -28.00M
YoY Change -51.36% -425.84% -1220.0%
NET CHANGE
Cash From Operating Activities 57.80M 116.7M 60.00M
Cash From Investing Activities -37.20M -14.10M -14.70M
Cash From Financing Activities -17.90M 97.10M -28.00M
Net Change In Cash 2.700M 199.7M 17.30M
YoY Change -107.8% 1606.84% -29.1%
FREE CASH FLOW
Cash From Operating Activities $57.80M $116.7M $60.00M
Capital Expenditures -$23.60M -$14.10M -$14.70M
Free Cash Flow $81.40M $130.8M $74.70M
YoY Change 105.56% 108.61% 80.87%

Facts In Submission

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CY2017 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="text-align:justify;margin-bottom:6pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 19 &#8211; Recent accounting pronouncements:</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Adopted</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:12pt;text-indent:7.69%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, <font style="font-style:italic;">Income Statement &#8211; Reporting Comprehensive Income (Topic 220)</font>, which permits a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 Tax Act.&nbsp;&nbsp;The reclassification permitted by ASU 2018-02 is optional and is not required to be adopted, but if adopted it must be adopted by us no later than the first quarter of 2019 (with early adoption permitted).&nbsp;&nbsp;Consistent with Note 1, we have considered the optional nature of ASU 2018-02 and we have elected to not adopt the reclassification.</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Pending Adoption</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:12pt;text-indent:7.69%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In May 2014, the FASB issued ASU No. 2014-09, <font style="font-style:italic;">Revenue from Contracts with Customers (Topic 606)</font>.&#160; This standard replaces existing revenue recognition guidance, which in many cases was tailored for specific industries, with a uniform accounting standard applicable to all industries and transactions.&#160; The new standard, as amended, is currently effective for us beginning with the first quarter of 2018.&#160; Entities may elect to adopt ASU No. 2014-09 retrospectively for all periods for all contracts and transactions which occurred during the period (with a few exceptions for practical expediency) or modified retrospectively with a cumulative effect recognized as of the date of adoption.&#160; We will adopt the standard in the first quarter of 2018 including the expanded disclosure requirements using the modified retrospective approach to adoption.&#160; We have completed an evaluation of our sales which generally involve single performance obligations to ship goods pursuant to customer purchase orders without further underlying contracts, and as such we believe the adoption of this standard will have a minimal effect on our revenues.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January 2016, the FASB issued ASU 2016-01, <font style="font-style:italic;">Financial Instruments-Overall (Subtopic 825-10):&nbsp;&nbsp;Recognition and Measurement of Financial Assets and Financial Liabilities</font>, which addresses certain aspects related to the recognition, measurement, presentation and disclosure of financial instruments.&nbsp;&nbsp;The ASU requires equity investments (except for those accounted for under the equity method of accounting or those that result in the consolidation of the investee) to generally be measured at fair value with changes in fair value recognized in net income.&nbsp;&nbsp;The amendment also requires a number of other changes, including among others:&nbsp;&nbsp;simplifying the impairment assessment for equity instruments without readily determinable fair values; eliminating the requirement for public business entities to disclose methods and assumptions used to determine fair value for financial instruments measured at amortized cost; requiring an exit price notion when measuring the fair value of financial instruments for disclosure purposes; and requiring separate presentation of financial assets and liabilities by measurement category and form of asset.&nbsp;&nbsp;The changes indicated above will be effective for us beginning in the first quarter of 2018, with prospective application required, and early adoption is not permitted.&nbsp;&nbsp;The most significant aspect of adopting this ASU will be the requirement to recognize changes in fair value of our available-for-sale marketable equity securities in net income (currently changes in fair value of such securities are recognized in other comprehensive income). </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued ASU 2016-02, <font style="font-style:italic;">Leases (Topic 842)</font>, which is a comprehensive rewriting of the lease accounting guidance which aims to increase comparability and transparency with regard to lease transactions.&#160;&#160; The primary change will be the recognition of lease assets for the right-of-use of the underlying asset and lease liabilities for the obligation to make payments by lessees on the balance sheet for leases currently classified as operating leases.&#160;&#160; The ASU also requires increased qualitative disclosure about leases in addition to quantitative disclosures currently required.&#160; Companies are required to use a modified retrospective approach to adoption with a practical expedient which will allow companies to continue to account for existing leases under the prior guidance unless a lease is modified, other than the requirement to recognize the right-of-use asset and lease liability for all operating leases. The changes indicated above will be effective for us beginning in the first quarter of 2019, with early adoption is permitted.&#160; We are in the process of assessing all of our current leases.&#160; We have not yet evaluated the effect this ASU will have on our Consolidated Financial Statements, but given the material amount of our future minimum payments under non-cancellable operating leases at December 31, 2017 discussed in Note 17, we expect to recognize a material right-of-use lease asset and lease liability upon adoption of the ASU.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2017, the FASB issued ASU 2017-07, <font style="font-style:italic;">Compensation - Retirement Benefits (Topic 715) Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost</font>, which requires that the service cost component of net periodic defined benefit pension and OPEB cost be reported in the same line item as other compensation costs for applicable employees incurred during the period.&nbsp;&nbsp;Other components of such net benefit cost are required to be presented in the income statement separately from the service cost component, and below income from operations (if such a subtotal is presented).&nbsp;&nbsp;These other net benefit cost components must be disclosed either on the face of the financial statements or in the notes to the financial statements.&nbsp;&nbsp;In addition only the service cost component is eligible for capitalization in assets where applicable (inventory or internally constructed fixed assets for example). The amendments in ASU 2017-06 are effective for us beginning in the first quarter of 2018, early adoption as of the beginning of an annual period is permitted, retrospective presentation is required for the income statement presentation of the service cost component and other components of net benefit cost, and prospective application is required for the capitalization in assets of the service cost component of net benefit cost.&nbsp;&nbsp;&nbsp;&nbsp;We will adopt this ASU in the first quarter of 2018.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We currently include all of our net benefit cost for defined benefit pension plans as part of compensation expense which is capitalized into inventory, we present a subtotal for income from operations and our net periodic defined benefit pension cost is currently included in the determination of income from operations.&nbsp;&nbsp;Accordingly, adoption of this standard will change the amount of our aggregate compensation cost capitalized in inventory, and change the determination of the amount we report as income from operations.&nbsp;&nbsp;As disclosed in Note 10, the service cost component represented approximately $9.9 million and $11.4 million of our total net periodic defined benefit pension costs of $22.0 million and $28.9 million in 2016 and 2017, respectively.&nbsp;&nbsp;None of the components of our net OPEB cost, or our total OPEB cost, were material in 2017.</p></div>
CY2017 us-gaap Use Of Estimates
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<div> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;text-indent:7.69%;">Management&#8217;s estimates &#8211; <font style="font-weight:normal;font-style:normal;">In preparing our financial statemen</font><font style="font-weight:normal;font-style:normal;">ts in conformity with accounting principles generally accepted in the United States of America (GAAP) we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period.&nbsp;&nbsp;Actual results may differ significantly from previously-estimated amounts under different assumptions or conditions.</font></p></div>
CY2017 us-gaap Advertising Cost Policy Expensed Advertising Cost
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CY2017 us-gaap Concentration Risk Credit Risk
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<div> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;text-indent:7.69%;">Concentrations of credit risk <font style="font-weight:normal;font-style:normal;">&#8211;</font> <font style="font-weight:normal;font-style:normal;">Sales of TiO</font><font style="font-size:8.5pt;font-weight:normal;font-style:normal;"><sub style="font-size:85%; vertical-align:bottom">2</sub></font><font style="font-weight:normal;font-style:normal;"> accounted for 92%, 93% and 94% of our net sales in 2015, 2016 and 2017, respectively.&nbsp;&nbsp;The remaining sales result from the mining and sale of ilmenite ore (a raw material used in the sulfate pigment production process), and the manufacture and sale of iron-based water treatment chemicals and certain titanium chemical products (derived from co-products of the TiO</font><font style="font-size:8.5pt;font-weight:normal;font-style:normal;"><sub style="font-size:85%; vertical-align:bottom">2</sub></font><font style="font-weight:normal;font-style:normal;"> production processes).&nbsp;&nbsp;TiO</font><font style="font-size:8.5pt;font-weight:normal;font-style:normal;"><sub style="font-size:85%; vertical-align:bottom">2</sub></font><font style="font-weight:normal;font-style:normal;"> is generally sold to the paint, plastics and paper industries.&nbsp;&nbsp;Such markets are generally considered &#8220;quality-of-life&#8221; markets whose demand for TiO</font><font style="font-size:8.5pt;font-weight:normal;font-style:normal;"><sub style="font-size:85%; vertical-align:bottom">2</sub></font><font style="font-weight:normal;font-style:normal;"> is influenced by the relative economic well-being of the various geographic regions.&nbsp;&nbsp;We sell TiO</font><font style="font-size:8.5pt;font-weight:normal;font-style:normal;"><sub style="font-size:85%; vertical-align:bottom">2</sub></font><font style="font-weight:normal;font-style:normal;"> to over 4,000 customers, with the top ten customers approximating 34% of net sales in 2015, 33% in 2016 and 34% in 2017.&nbsp;&nbsp;One customer, Behr Process Corporation, accounted for approximately 10% of our net sales in each of 2015 and 2016.&nbsp;&nbsp;We did not have sales to a single customer comprising 10% or more of our net sales in 2017.</font></p> <p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The table below shows the approximate percentage of our TiO<font style="font-size:8.5pt;"><sub style="font-size:85%; vertical-align:bottom">2</sub></font> sales by volume for our significant markets, Europe and North America, for the last three years.</p> <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:79.42%;"> <tr> <td valign="bottom" style="width:52%;"> <p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-weight:normal;font-style:normal;font-family:Times New Roman;text-transform:none;font-variant: normal;">&#160;</p></td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:16.1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2015</p></td> <td valign="bottom" style="width:1.68%;"> <p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-weight:normal;font-style:normal;font-family:Times New Roman;text-transform:none;font-variant: normal;">&#160;</p></td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:14.3%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td> <td valign="bottom" style="width:1.44%;"> <p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-weight:normal;font-style:normal;font-family:Times New Roman;text-transform:none;font-variant: normal;">&#160;</p></td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:14.48%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:52%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Europe</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12.24%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">52</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:3.86%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%&#160;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.68%;"> <p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-weight:normal;font-style:normal;font-family:Times New Roman;text-transform:none;font-variant: normal;">&#160;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:11.18%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">51</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:3.1%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%&#160;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.44%;"> <p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-weight:normal;font-style:normal;font-family:Times New Roman;text-transform:none;font-variant: normal;">&#160;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10.86%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">50</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="width:3.62%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> </tr> <tr> <td valign="bottom" style="width:52%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">North America</p></td> <td valign="bottom" style="width:12.24%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;29</p></td> <td valign="bottom" style="width:3.86%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%&#160;</p></td> <td valign="bottom" style="width:1.68%;"> <p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-weight:normal;font-style:normal;font-family:Times New Roman;text-transform:none;font-variant: normal;">&#160;</p></td> <td valign="bottom" style="width:11.18%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">29</p></td> <td valign="bottom" style="width:3.1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%&#160;</p></td> <td valign="bottom" style="width:1.44%;"> <p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-weight:normal;font-style:normal;font-family:Times New Roman;text-transform:none;font-variant: normal;">&#160;</p></td> <td valign="bottom" style="width:10.86%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">31</p></td> <td valign="bottom" style="width:3.62%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> </tr> </table></div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></div>
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UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2500000
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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UnrecognizedTaxBenefits
9700000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
300000
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
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CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
6300000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1100000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2500000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
200000
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
200000
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
200000
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
100000
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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2300000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
2300000
CY2015 kro Unrecognized Tax Benefits Increases Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromForeignCurrencyTranslation
-1300000
CY2016 kro Unrecognized Tax Benefits Increases Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromForeignCurrencyTranslation
300000
CY2017 kro Unrecognized Tax Benefits Increases Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromForeignCurrencyTranslation
700000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2100000
CY2014Q4 kro Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized Under Proposed Plan
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorizedUnderProposedPlan
200000
CY2017Q4 kro Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Future Issuance
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForFutureIssuance
155500
CY2017 kro Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Issued
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesIssued
8000
CY2015 kro Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Issued
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesIssued
8000
CY2016 kro Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Issued
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesIssued
13500
CY2014Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2000000
CY2017Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
1951000
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
74100000
CY2017 kro Number Of Customers
NumberOfCustomers
4000
CY2015 kro Entity Wide Revenue Top Customers Percentage
EntityWideRevenueTopCustomersPercentage
0.34
CY2016 kro Entity Wide Revenue Top Customers Percentage
EntityWideRevenueTopCustomersPercentage
0.33
CY2017 kro Entity Wide Revenue Top Customers Percentage
EntityWideRevenueTopCustomersPercentage
0.34
CY2017 kro Percentage Of Annual Production Capacity
PercentageOfAnnualProductionCapacity
0.33
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
14000000
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
14000000
CY2017 kro Interest Rate Swap Termination Payment Included In Cash Paid For Interest
InterestRateSwapTerminationPaymentIncludedInCashPaidForInterest
3300000
CY2017Q4 us-gaap Senior Notes
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471100000
CY2016Q4 kro Cash Cash Equivalents And Restricted Cash Fair Value Disclosure
CashCashEquivalentsAndRestrictedCashFairValueDisclosure
52300000
CY2017 us-gaap Operating Leases Rent Expense Net
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16000000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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8000000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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6700000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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5900000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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5100000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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3000000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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24300000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
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53000000
CY2017Q4 kro Cash Cash Equivalents And Restricted Cash Fair Value Disclosure
CashCashEquivalentsAndRestrictedCashFairValueDisclosure
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CY2017Q4 us-gaap Notes Payable Fair Value Disclosure
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495100000
CY2016Q4 us-gaap Loans Payable Fair Value Disclosure
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CY2016Q4 us-gaap Equity Fair Value Disclosure
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1383800000
CY2017Q4 us-gaap Equity Fair Value Disclosure
EquityFairValueDisclosure
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CY2016 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
9900000
CY2017 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
11400000
CY2016 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
22000000
CY2017 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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CY2016Q1 us-gaap Sales Revenue Net
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CY2016Q2 us-gaap Sales Revenue Net
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CY2016Q3 us-gaap Sales Revenue Net
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CY2016Q4 us-gaap Sales Revenue Net
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CY2016Q1 us-gaap Gross Profit
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CY2016Q4 us-gaap Net Income Loss
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CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
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SalesRevenueNet
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CY2017Q3 us-gaap Sales Revenue Net
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CY2017Q4 us-gaap Sales Revenue Net
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453300000
CY2017Q1 us-gaap Gross Profit
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CY2017Q2 us-gaap Gross Profit
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CY2017Q4 us-gaap Gross Profit
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CY2016Q4 us-gaap Income Tax Reconciliation Tax Contingencies
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CY2017Q3 us-gaap Gains Losses On Extinguishment Of Debt
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