$KRO
KRONOS WORLDWIDE INC

2021 Q3 Form 10-Q Financial Statement

#000156459021054503 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $499.8M $416.9M
YoY Change 19.88% -4.69%
Cost Of Revenue $376.8M $336.3M
YoY Change 12.04% -3.83%
Gross Profit $123.0M $80.60M
YoY Change 52.61% -8.1%
Gross Profit Margin 24.61% 19.33%
Selling, General & Admin $64.20M $55.60M
YoY Change 15.47% -2.28%
% of Gross Profit 52.2% 68.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.60M $13.80M
YoY Change -8.7% 16.95%
% of Gross Profit 10.24% 17.12%
Operating Expenses $66.90M $58.40M
YoY Change 14.55% 2.64%
Operating Profit $56.10M $22.20M
YoY Change 152.7% -32.93%
Interest Expense -$3.700M -$7.300M
YoY Change -49.32% -258.7%
% of Operating Profit -6.6% -32.88%
Other Income/Expense, Net -$4.300M -$5.000M
YoY Change -14.0% 31.58%
Pretax Income $48.10M $9.900M
YoY Change 385.86% -59.09%
Income Tax $12.10M $1.800M
% Of Pretax Income 25.16% 18.18%
Net Earnings $36.00M $8.100M
YoY Change 344.44% -54.75%
Net Earnings / Revenue 7.2% 1.94%
Basic Earnings Per Share $0.31
Diluted Earnings Per Share $311.7K $70.13K
COMMON SHARES
Basic Shares Outstanding 115.5M 115.5M
Diluted Shares Outstanding 115.5M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $373.5M $348.4M
YoY Change 7.2% -9.69%
Cash & Equivalents $379.7M $353.9M
Short-Term Investments
Other Short-Term Assets $38.00M $21.60M
YoY Change 75.93% 20.67%
Inventory $423.6M $504.2M
Prepaid Expenses
Receivables $344.6M $294.1M
Other Receivables $39.40M $20.40M
Total Short-Term Assets $1.219B $1.189B
YoY Change 2.56% 0.15%
LONG-TERM ASSETS
Property, Plant & Equipment $503.0M $512.0M
YoY Change -1.76% 9.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $108.9M $98.70M
YoY Change 10.33% 14.24%
Other Assets $11.10M $6.400M
YoY Change 73.44% -94.23%
Total Long-Term Assets $785.4M $758.2M
YoY Change 3.59% 8.62%
TOTAL ASSETS
Total Short-Term Assets $1.219B $1.189B
Total Long-Term Assets $785.4M $758.2M
Total Assets $2.005B $1.947B
YoY Change 2.96% 3.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $147.3M $108.9M
YoY Change 35.26% -3.8%
Accrued Expenses $57.10M $59.40M
YoY Change -3.87% 5.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $1.500M
YoY Change -53.33% 0.0%
Total Short-Term Liabilities $259.7M $235.5M
YoY Change 10.28% 3.52%
LONG-TERM LIABILITIES
Long-Term Debt $461.1M $465.9M
YoY Change -1.03% 7.2%
Other Long-Term Liabilities $27.80M $28.70M
YoY Change -3.14% 15.26%
Total Long-Term Liabilities $922.8M $494.6M
YoY Change 86.58% -38.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $259.7M $235.5M
Total Long-Term Liabilities $922.8M $494.6M
Total Liabilities $1.183B $1.145B
YoY Change 3.26% 10.33%
SHAREHOLDERS EQUITY
Retained Earnings -$132.9M
YoY Change
Common Stock $1.397B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $822.0M $801.7M
YoY Change
Total Liabilities & Shareholders Equity $2.005B $1.947B
YoY Change 2.96% 3.29%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $36.00M $8.100M
YoY Change 344.44% -54.75%
Depreciation, Depletion And Amortization $12.60M $13.80M
YoY Change -8.7% 16.95%
Cash From Operating Activities $47.90M $38.00M
YoY Change 26.05% -61.15%
INVESTING ACTIVITIES
Capital Expenditures -$14.70M -$12.90M
YoY Change 13.95% 48.28%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$14.70M -$12.90M
YoY Change 13.95% 7.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.90M -20.90M
YoY Change 0.0% -7.93%
NET CHANGE
Cash From Operating Activities 47.90M 38.00M
Cash From Investing Activities -14.70M -12.90M
Cash From Financing Activities -20.90M -20.90M
Net Change In Cash 12.30M 4.200M
YoY Change 192.86% -93.34%
FREE CASH FLOW
Cash From Operating Activities $47.90M $38.00M
Capital Expenditures -$14.70M -$12.90M
Free Cash Flow $62.60M $50.90M
YoY Change 22.99% -52.21%

Facts In Submission

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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2020Q3 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020Q3 kro Comprehensive Income Loss Tax
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3200000
CY2021Q3 kro Comprehensive Income Loss Tax
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kro Comprehensive Income Loss Tax
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19400000
kro Comprehensive Income Loss Tax
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CY2020Q1 kro Tax Cuts And Jobs Act Of2017 Effective Income Tax Rate Reconciliation Deduction Of Interest Income
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CY2020Q1 kro Coronavirus Aid Relief And Economic Security Act Effective Income Tax Rate Reconciliation Deduction Of Interest Income
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CY2020Q1 kro Cash Tax Benefit Due To Reversal Of Valuation Allowance
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CY2021Q3 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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kro Incremental Tax Expense Benefit On Equity In Earnings
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us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2020Q3 kro Incremental Tax Expense Benefit On Equity In Earnings
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CY2021Q3 kro Incremental Tax Expense Benefit On Equity In Earnings
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CY2020Q3 us-gaap Income Tax Reconciliation Tax Contingencies
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us-gaap Income Tax Reconciliation Tax Contingencies
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us-gaap Income Tax Reconciliation Nondeductible Expense
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CY2021Q3 us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation Other Adjustments
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CY2020Q3 us-gaap Income Tax Expense Benefit
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CY2021Q3 us-gaap Income Tax Expense Benefit
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12100000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
27300000
CY2020Q3 us-gaap Income Tax Expense Benefit
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1800000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12100000
CY2020Q3 kro Income Tax Reconciliation Global Intangible Low Tax Income Net
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CY2021Q3 kro Income Tax Reconciliation Global Intangible Low Tax Income Net
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kro Income Tax Reconciliation Global Intangible Low Tax Income Net
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3300000
kro Income Tax Reconciliation Global Intangible Low Tax Income Net
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1600000
CY2020Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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500000
CY2021Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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600000
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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500000
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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362000000.0
CY2020Q4 kro Cash Cash Equivalents And Restricted Cash Fair Value Disclosure
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379700000
CY2021Q3 kro Cash Cash Equivalents And Restricted Cash Fair Value Disclosure
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CY2020Q4 us-gaap Senior Notes
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CY2020Q4 us-gaap Notes Payable Fair Value Disclosure
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CY2021Q3 us-gaap Senior Notes
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460400000
CY2021Q3 us-gaap Notes Payable Fair Value Disclosure
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472400000

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