$KRO
KRONOS WORLDWIDE INC

2021 Q2 Form 10-Q Financial Statement

#000156459021040828 Filed on August 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $478.6M $386.0M $421.0M
YoY Change 23.99% -20.33% -3.55%
Cost Of Revenue $369.6M $290.2M $332.9M
YoY Change 27.36% -22.61% 1.74%
Gross Profit $109.0M $95.80M $88.10M
YoY Change 13.78% -12.51% -19.4%
Gross Profit Margin 22.77% 24.82% 20.93%
Selling, General & Admin $62.90M $52.70M $53.50M
YoY Change 19.35% -8.98% -7.28%
% of Gross Profit 57.71% 55.01% 60.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.80M $14.60M $14.90M
YoY Change -12.33% 22.69% 40.57%
% of Gross Profit 11.74% 15.24% 16.91%
Operating Expenses $62.90M $56.70M $53.50M
YoY Change 10.93% -8.4% -7.28%
Operating Profit $43.80M $39.10M $43.50M
YoY Change 12.02% -17.86% -11.22%
Interest Expense $5.200M -$10.70M $7.300M
YoY Change -148.6% -327.66% 52.08%
% of Operating Profit 11.87% -27.37% 16.78%
Other Income/Expense, Net -$4.300M -$4.700M -$4.700M
YoY Change -8.51% 23.68% 23.68%
Pretax Income $34.90M $23.70M $35.40M
YoY Change 47.26% -42.05% -17.87%
Income Tax $9.200M $5.100M $8.400M
% Of Pretax Income 26.36% 21.52% 23.73%
Net Earnings $25.70M $18.60M $27.00M
YoY Change 38.17% -36.95% -10.89%
Net Earnings / Revenue 5.37% 4.82% 6.41%
Basic Earnings Per Share $0.22
Diluted Earnings Per Share $0.22 $161.0K $233.6K
COMMON SHARES
Basic Shares Outstanding 115.5M 115.7M
Diluted Shares Outstanding 115.5M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $363.8M $341.4M $341.5M
YoY Change 6.56% 3.9% 0.59%
Cash & Equivalents $370.2M $341.4M $342.9M
Short-Term Investments
Other Short-Term Assets $18.10M $10.70M $12.10M
YoY Change 69.16% -14.4% -12.32%
Inventory $429.4M $498.4M $479.4M
Prepaid Expenses
Receivables $319.6M $286.0M $305.3M
Other Receivables $28.20M $34.50M $25.10M
Total Short-Term Assets $1.159B $1.171B $1.163B
YoY Change -1.02% -4.82% -3.3%
LONG-TERM ASSETS
Property, Plant & Equipment $532.8M $494.4M $486.0M
YoY Change 7.77% 1.5% 0.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $107.0M $98.10M $94.20M
YoY Change 9.07% 7.92% 9.41%
Other Assets $158.0M $5.900M $131.2M
YoY Change 2577.97% 63.89% 3100.0%
Total Long-Term Assets $797.8M $732.7M $711.4M
YoY Change 8.88% 0.6% -1.74%
TOTAL ASSETS
Total Short-Term Assets $1.159B $1.171B $1.163B
Total Long-Term Assets $797.8M $732.7M $711.4M
Total Assets $1.957B $1.904B $1.875B
YoY Change 2.79% -2.8% -2.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.50M $96.90M $111.2M
YoY Change -9.7% -30.49% -0.54%
Accrued Expenses $48.20M $44.60M $49.10M
YoY Change 8.07% -4.9% -14.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $1.500M $1.400M
YoY Change -53.33% 0.0% -6.67%
Total Short-Term Liabilities $201.8M $230.0M $231.2M
YoY Change -12.26% -7.67% -4.19%
LONG-TERM LIABILITIES
Long-Term Debt $472.5M $445.0M $436.3M
YoY Change 6.18% -1.59% -2.13%
Other Long-Term Liabilities $26.80M $26.90M $406.0M
YoY Change -0.37% 4.26% 10.63%
Total Long-Term Liabilities $499.3M $872.4M $842.3M
YoY Change -42.77% 3.67% 88.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $201.8M $230.0M $231.2M
Total Long-Term Liabilities $499.3M $872.4M $842.3M
Total Liabilities $1.146B $1.102B $1.093B
YoY Change 3.93% 1.08% 1.55%
SHAREHOLDERS EQUITY
Retained Earnings -$126.3M
YoY Change
Common Stock $1.397B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.000M
YoY Change
Treasury Stock Shares
Shareholders Equity $811.2M $801.3M $782.3M
YoY Change
Total Liabilities & Shareholders Equity $1.957B $1.904B $1.875B
YoY Change 2.79% -2.8% -2.71%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $25.70M $18.60M $27.00M
YoY Change 38.17% -36.95% -10.89%
Depreciation, Depletion And Amortization $12.80M $14.60M $14.90M
YoY Change -12.33% 22.69% 40.57%
Cash From Operating Activities $21.40M $27.90M -$9.800M
YoY Change -23.3% 46.84% -240.0%
INVESTING ACTIVITIES
Capital Expenditures -$10.40M -$10.10M $15.30M
YoY Change 2.97% 6.32% -4.38%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.500M
YoY Change -100.0% -200.0%
Cash From Investing Activities -$10.40M -$10.10M -$13.80M
YoY Change 2.97% 4.12% -21.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000M
YoY Change
Debt Paid & Issued, Net $100.0K
YoY Change 0.0%
Cash From Financing Activities -22.80M -20.80M -21.90M
YoY Change 9.62% -7.14% 4.29%
NET CHANGE
Cash From Operating Activities 21.40M 27.90M -9.800M
Cash From Investing Activities -10.40M -10.10M -13.80M
Cash From Financing Activities -22.80M -20.80M -21.90M
Net Change In Cash -11.80M -3.000M -45.50M
YoY Change 293.33% -77.1% 44.44%
FREE CASH FLOW
Cash From Operating Activities $21.40M $27.90M -$9.800M
Capital Expenditures -$10.40M -$10.10M $15.30M
Free Cash Flow $31.80M $38.00M -$25.10M
YoY Change -16.32% 33.33% 178.89%

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6400000
CY2020Q1 kro Tax Cuts And Jobs Act Of2017 Effective Income Tax Rate Reconciliation Deduction Of Interest Income
TaxCutsAndJobsActOf2017EffectiveIncomeTaxRateReconciliationDeductionOfInterestIncome
0.30
us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
500000
us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
-400000
CY2020Q2 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
600000
CY2021Q2 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
200000
us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1000000.0
us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
400000
CY2020Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-500000
CY2021Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
300000
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-600000
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
200000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15200000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5100000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9200000
CY2020Q1 kro Cash Tax Benefit Due To Reversal Of Valuation Allowance
CashTaxBenefitDueToReversalOfValuationAllowance
500000
CY2021Q2 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
1100000

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