Kronos Worldwide (KRO) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-31763
Entity Registrant Name	KRONOS WORLDWIDE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0294959
Entity Address, Address Line One	5430 LBJ Freeway
Entity Address, Address Line Two	Suite 1700
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240-2620
City Area Code	972
Local Phone Number	233-1700
Title of 12(b) Security	Common stock
Trading Symbol	KRO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		115,027,016
Entity Central Index Key	0001257640
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 120.7	$ 194.7
Restricted cash	1.6	2.2
Accounts and other receivables, net	348.7	312.5
Inventories, net	475.8	564.6
Prepaid expenses and other	37.9	43.4
Total current assets	984.7	1,117.4
Other assets:
Investment in TiO2 manufacturing joint venture	108.7	111
Restricted cash	5	5.2
Marketable securities	2.5	2.2
Operating lease right-of-use assets	21.8	22.7
Deferred income taxes	81.8	83.3
Other	13.3	13.3
Total other assets	233.1	237.7
Property and equipment:
Land	43.3	44.7
Buildings	231.1	236.8
Equipment	1,143.8	1,172
Mining properties	122.2	130.5
Construction in progress	22.1	22.9
Gross property and equipment	1,562.5	1,606.9
Less accumulated depreciation and amortization	1,100.9	1,124
Net property and equipment	461.6	482.9
Total assets	1,679.4	1,838
Current liabilities:
Accounts payable and accrued liabilities	251.3	355.4
Income taxes	16.6	15.4
Total current liabilities	267.9	370.8
Noncurrent liabilities:
Long-term debt	426.9	440.9
Accrued pension costs	143.6	150
Operating lease liabilities	17.9	18.6
Deferred income taxes	8.7	9
Other	21.4	21.8
Total noncurrent liabilities	637.1	658.9
Stockholders' equity:
Common stock	1.2	1.2
Additional paid-in capital	1,390.2	1,390.2
Retained deficit	(255.8)	(242)
Accumulated other comprehensive loss	(361.2)	(341.1)
Total stockholders' equity	774.4	808.3
Total liabilities and stockholders' equity	1,679.4	1,838
Related party
Noncurrent liabilities:
Payable to affiliate - income taxes	$ 18.6	$ 18.6

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 478.8	$ 426.3
Cost of sales	407.3	395.5
Gross margin	71.5	30.8
Selling, general and administrative expense	54.2	53.2
Other operating income (expense):
Currency transactions, net	5.8	5.4
Other operating expense, net	(3.6)	(1.3)
Income (loss) from operations	19.5	(18.3)
Other income (expense):
Interest and dividend income	1.3	2
Marketable equity securities	0.3	(0.7)
Other components of net periodic pension and OPEB cost	(0.3)	(0.9)
Interest expense	(9.2)	(4.2)
Income (loss) before income taxes	11.6	(22.1)
Income tax expense (benefit)	3.5	(6.9)
Net income (loss)	$ 8.1	$ (15.2)
Net income (loss) per share - basic	$ 0.07	$ (0.13)
Net income (loss) per share - diluted	$ 0.07	$ (0.13)
Weighted average shares outstanding - basic	115	115.3
Weighted average shares outstanding - diluted	115	115.3

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income (loss)	$ 8.1	$ (15.2)
Other comprehensive income (loss), net of tax:
Currency translation	(20.6)	(7)
Total other comprehensive loss, net	(20.1)	(6.6)
Comprehensive loss	(12)	(21.8)
Defined benefit pension plans
Other comprehensive income (loss), net of tax:
Defined benefit pension plans	$ 0.5	0.5
Other postretirement benefit plans
Other comprehensive income (loss), net of tax:
Defined benefit pension plans		$ (0.1)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Common stock	Additional paid-in capital	Retained deficit	Accumulated other comprehensive loss	Treasury Stock	Total
Beginning Balance at Dec. 31, 2022	$ 1.2	$ 1,394.3	$ (105.4)	$ (331.5)	$ (1.4)	$ 957.2
Net loss			(15.2)			(15.2)
Other comprehensive loss, net of tax				(6.6)		(6.6)
Dividends paid			(21.9)			(21.9)
Treasury stock acquired					(1.4)	(1.4)
Treasury stock retired		(1.3)			1.3
Ending Balance at Mar. 31, 2023	1.2	1,393	(142.5)	(338.1)	$ (1.5)	912.1
Beginning Balance at Dec. 31, 2023	1.2	1,390.2	(242)	(341.1)		808.3
Net loss			8.1			8.1
Other comprehensive loss, net of tax				(20.1)		(20.1)
Dividends paid			(21.9)			(21.9)
Ending Balance at Mar. 31, 2024	$ 1.2	$ 1,390.2	$ (255.8)	$ (361.2)		$ 774.4

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends per share	$ 0.19	$ 0.19

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 8.1	$ (15.2)
Depreciation	10.9	12.9
Amortization of operating lease right-of-use assets	1.1	1.1
Deferred income taxes	(0.2)	1.1
Benefit plan expense less than cash funding	(2.8)	(2.2)
Marketable equity securities	(0.3)	0.7
Distributions from (contributions to) TiO2 manufacturing joint venture, net	2.3	(0.7)
Other, net	2.1	0.4
Change in assets and liabilities:
Accounts and other receivables, net	(58.3)	(39)
Inventories, net	75.6	0.5
Prepaid expenses	4.4	8.1
Accounts payable and accrued liabilities	(103.7)	(60)
Income taxes	2	(2.6)
Accounts with affiliates	15.3	(15.1)
Other, net	0.2	0.2
Net cash used in operating activities	(43.3)	(109.8)
Cash flows from investing activities:
Capital expenditures	(4.7)	(16.4)
Cash flows from financing activities:
Loan from Contran	53.7
Payments on long-term debt	(52.6)	(0.2)
Deferred financing fees	(4.9)
Dividends paid	(21.9)	(21.9)
Treasury stock acquired		(1.4)
Net cash used in financing activities	(25.7)	(23.5)
Cash, cash equivalents and restricted cash - net change from:
Operating, investing and financing activities	(73.7)	(149.7)
Effect of currency exchange rate changes on cash	(1.1)	(0.7)
Balance at beginning of period	202.1	334.6
Balance at end of period	127.3	184.2
Cash paid (received) for:
Interest, net of amount capitalized	7.2	7.9
Income taxes	0.9	(2.6)
Accrual for capital expenditures	$ 0.9	$ 6.4

Organization and basis of prese

Organization and basis of presentation	3 Months Ended
	Mar. 31, 2024
Organization and basis of presentation
Organization and basis of presentation	Note 1 - Organization and basis of presentation: Organization Thomas C. Connelly (the husband of Ms. Simmons’ late sister), Basis of presentation 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.

Accounts and other receivables,

Accounts and other receivables, net	3 Months Ended
	Mar. 31, 2024
Accounts and other receivables, net
Accounts and other receivables, net	Note 2 - Accounts and other receivables, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Trade receivables ​ $ 273.6 ​ $ 330.8 Recoverable VAT and other receivables ​ 23.8 ​ 19.5 Receivables from affiliates, other: ​ ​ ​ ​ ​ ​ Louisiana Pigment Company (LPC) ​ ​ 16.9 ​ ​ - Other ​ ​ .4 ​ ​ .4 Refundable income taxes ​ 1.9 ​ 2.0 Allowance for doubtful accounts ​ (4.1) ​ (4.0) Total ​ $ 312.5 ​ $ 348.7 ​

Inventories, net

Inventories, net	3 Months Ended
	Mar. 31, 2024
Inventories, net
Inventories, net	Note 3 - Inventories, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Raw materials ​ $ 188.3 ​ $ 148.3 Work in process ​ 30.8 ​ 25.6 Finished products ​ 249.6 ​ 208.8 Supplies ​ 95.9 ​ 93.1 Total ​ $ 564.6 ​ $ 475.8 ​

Marketable securities

Marketable securities	3 Months Ended
	Mar. 31, 2024
Marketable securities
Marketable securities	Note 4 - Marketable securities: Our marketable securities consist of investments in the publicly-traded shares of our related party, Valhi. Our marketable securities are accounted for as available-for-sale securities, 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. Unrealized gains or losses on equity securities are recognized in Other income (expense) - Marketable equity securities on our Condensed Consolidated Statements of Operations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value ​ ​ ​ ​ ​ ​ ​ ​ measurement ​ Market ​ Cost ​ Unrealized Marketable security level value basis loss ​ ​ ​ (In millions) December 31, 2023: ​ ​ ​ Valhi common stock 1 ​ $ 2.2 ​ $ 3.2 ​ $ (1.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024: ​ ​ ​ ​ ​ Valhi common stock 1 ​ $ 2.5 ​ $ 3.2 ​ $ (.7) ​ At December 31, 2023 and March 31, 2024, we held approximately 144,000 shares of Valhi’s common stock. At December 31, 2023 and March 31, 2024, the per share quoted market price of Valhi’s common stock was $15.19 and $17.18, respectively. The Valhi common stock we own is subject to the restrictions on resale pursuant to certain provisions of the Securities and Exchange Commission (SEC) Rule 144. In addition, as a majority-owned subsidiary of Valhi we cannot vote our shares of Valhi common stock under Delaware General Corporation Law, but we do receive dividends from Valhi on these shares when declared and paid.

Long-term debt

Long-term debt	3 Months Ended
	Mar. 31, 2024
Long-term debt
Long-term debt	Note 5 - Long-term debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Kronos International, Inc. 9.50% Senior Secured Notes due 2029 ​ $ - ​ $ 292.3 Kronos International, Inc. 3.75% Senior Secured Notes due 2025 ​ ​ 440.9 ​ ​ 80.9 Subordinated, Unsecured Term Loan from Contran ​ - ​ 53.7 Total long-term debt ​ $ 440.9 ​ $ 426.9 ​ 9.50% Senior Secured Notes due 2029 and to make other conforming changes. KII did not receive any cash proceeds from the issuance and delivery of the New Notes in connection with the exchange. We also entered into a new $53.7 million unsecured term loan from Contran Corporation (described below) in connection with the exchange. ​ The New Notes: ● bear interest at 9.50% per annum, payable semi-annually on March 15 and September 15 of each year, payments begin on September 15, 2024 ; ● have a maturity date of March 15, 2029. Prior to March 15, 2026, we may redeem some or all of the New Notes at a price equal to 100% of the principal amount thereof, plus an applicable premium as of the date of the redemption as described in the indenture governing our New Notes plus accrued and unpaid interest. On or after March 15, 2026, we may redeem the New Notes at redemption prices ranging from 104.750% of the principal amount, declining to 100% on or after March 15, 2028, plus accrued and unpaid interest. In addition, on or before March 15, 2026, we may redeem up to 40% of the New Notes with the net proceeds of certain public or private equity offerings at 109.50% of the principal amount, plus accrued and unpaid interest, provided that following the redemption at least 50% of the New Notes remain outstanding . If we or our subsidiaries experience certain change of control events, as outlined in the indenture governing our New Notes , we would be required to make an offer to purchase the New Notes at 101% of the principal amount thereof, plus accrued and unpaid interest. We would also be required to make an offer to purchase a specified portion of the New Notes at par value, plus accrued and unpaid interest, in the event that we and our subsidiaries generate a certain amount of net proceeds from the sale of assets outside the ordinary course of business, and such net proceeds are not otherwise used for specified purposes within a specified time period as described in the indenture governing our New Notes; ● are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Kronos Worldwide, Inc. and each of our direct and indirect domestic, wholly-owned subsidiaries; ● are collateralized by a first priority lien on (i) 100% of the common stock or other ownership interests of each existing and future direct domestic subsidiary of KII and the guarantors, and (ii) 65% of the voting common stock or other ownership interests and 100% of the non-voting common stock or other ownership interests of each non-U.S. subsidiary that is directly owned by KII or any guarantor; ● contain a number of covenants and restrictions which, among other things, restrict our ability to incur or guarantee additional debt, incur liens, pay dividends or make other restricted payments, or merge or consolidate with, or sell or transfer substantially all of our assets to, another entity, and contain other provisions and restrictive covenants customary in lending transactions of this type (however, there are no ongoing financial maintenance covenants); and ● contain customary default provisions, including a default under any of our other indebtedness in excess of $50.0 million. At March 31, 2024 the carrying value of the New Notes (€276.174 million aggregate principal amount outstanding) is stated net of unamortized debt issuance costs of $5.6 million. As a result of the note exchange, in the first quarter of 2024 we recognized a non-cash pre-tax interest charge of $1.5 million included in interest expense related to the write-off of the deferred financing costs associated with the Old Notes and capitalized $5.7 million in debt issuance costs associated with the New Notes. Subordinated, Unsecured Term Loan from Contran Contran Term Loan 3.75% Senior Secured Notes due 2025 Revolving credit facility borrowings Other

Accounts payable and accrued li

Accounts payable and accrued liabilities	3 Months Ended
	Mar. 31, 2024
Accounts payable and accrued liabilities
Accounts payable and accrued liabilities	Note 6 - Accounts payable and accrued liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Accounts payable ​ $ 218.7 ​ $ 143.9 Accrued sales discounts and rebates ​ 22.5 ​ 10.5 Employee benefits ​ 24.7 ​ 23.4 Payables to affiliates: ​ ​ ​ ​ ​ ​ LPC ​ ​ 19.9 ​ ​ 21.0 Income taxes payable to Valhi ​ ​ 10.8 ​ ​ 11.6 Other ​ ​ .6 ​ ​ .6 Operating lease liabilities ​ 3.9 ​ 3.6 Other ​ 54.3 ​ 36.7 Total ​ $ 355.4 ​ $ 251.3 ​

Other noncurrent liabilities

Other noncurrent liabilities	3 Months Ended
	Mar. 31, 2024
Other noncurrent liabilities
Other noncurrent liabilities	Note 7 - Other noncurrent liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Accrued postretirement benefits ​ $ 6.4 ​ $ 6.2 Employee benefits ​ 4.9 ​ 4.7 Other ​ 10.5 ​ 10.5 Total ​ $ 21.8 ​ $ 21.4 ​

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 8 - Revenue recognition: The following table disaggregates our net sales by place of manufacture (point of origin) and to the location of the customer (point of destination), which are the categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Net sales - point of origin: ​ ​ ​ ​ ​ ​ United States ​ $ 255.8 ​ $ 240.9 Germany ​ 186.0 ​ 212.2 Canada ​ 90.9 ​ 89.3 Norway ​ 71.9 ​ 71.0 Belgium ​ 68.8 ​ 69.6 Eliminations ​ (247.1) ​ (204.2) Total ​ $ 426.3 ​ $ 478.8 ​ ​ ​ ​ ​ ​ ​ Net sales - point of destination: ​ ​ Europe ​ $ 201.1 ​ $ 214.9 North America ​ 148.6 ​ 166.0 Other ​ 76.6 ​ 97.9 Total ​ $ 426.3 ​ $ 478.8 ​

Employee benefit plans

Employee benefit plans	3 Months Ended
	Mar. 31, 2024
Employee benefit plans
Employee benefit plans	Note 9 - Employee benefit plans: The components of net periodic defined benefit pension cost are presented in the table below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Net periodic pension cost (income): ​ ​ Service cost ​ $ 1.6 ​ $ 1.7 Interest cost ​ 5.1 ​ 5.0 Expected return on plan assets ​ (4.8) ​ (5.3) Recognized actuarial losses ​ .6 ​ .6 Total ​ $ 2.5 ​ $ 2.0 ​ We expect our 2024 contributions for our pension plans to be approximately $17 million.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2024
Income taxes
Income taxes	Note 10 - Income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Expected tax expense (benefit), at U.S. federal statutory ​ $ (4.6) ​ $ 2.4 Non-U.S. tax rates ​ (.2) ​ - Incremental net tax benefit on earnings and losses of U.S. ​ - ​ (.6) Valuation allowance, net ​ .2 ​ 1.0 Global intangible low-tax income, net ​ (.5) ​ .3 Adjustment to the reserve for uncertain tax positions, net ​ ​ (1.2) ​ ​ .1 Adjustment of prior year taxes, net ​ (.4) ​ - Nondeductible expenses ​ - ​ .2 Other, net ​ (.2) ​ .1 Income tax expense (benefit) ​ $ (6.9) ​ $ 3.5 ​ ​ ​ ​ ​ ​ ​ Comprehensive provision (benefit) for income taxes allocable to: ​ ​ Net income (loss) ​ $ (6.9) ​ $ 3.5 Other comprehensive income - pension plans ​ ​ .1 ​ ​ .2 Total ​ $ (6.8) ​ $ 3.7 ​ The amount shown in the preceding table of our income tax rate reconciliation for non-U.S. tax rates represents the result determined by multiplying the pre-tax earnings or losses of each of our non-U.S. subsidiaries by the difference between the applicable statutory income tax rate for each non-U.S. jurisdiction and the U.S. federal statutory tax rate. The amount shown on such table for incremental net tax benefit on earnings and losses of U.S. and non-U.S. companies includes, as applicable, (i) deferred income taxes (or deferred income tax benefits) associated with the current-year earnings (losses) of all of our non-U.S. subsidiaries and (ii) current U.S. income taxes (or current income tax benefit), including U.S. personal holding company tax, as applicable, attributable to current-year income (losses) of one of our non-U.S. subsidiaries, which subsidiary is treated as a dual resident for U.S. income tax purposes, to the extent the current-year income (losses) of such subsidiary is subject to U.S. income tax under the U.S. dual-resident provisions of the Internal Revenue Code. During the first quarter of 2023, we recognized a non-cash deferred income tax benefit of $1.0 million relating to a decrease in our unrecognized tax benefits due to the expiration of certain statutes of limitations. Tax authorities are examining certain of our U.S. and non-U.S. tax returns and may propose tax deficiencies, including penalties and interest. 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.

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2024
Stockholders' equity
Stockholders' equity	Note 11 - Stockholders’ equity: Changes in accumulated other comprehensive loss are presented in the table below. See Note 9 for discussion of our defined benefit pension plans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Accumulated other comprehensive loss, net of tax: ​ ​ Currency translation: ​ ​ Balance at beginning of period ​ $ (269.2) ​ $ (265.5) Other comprehensive loss ​ (7.0) ​ (20.6) Balance at end of period ​ $ (276.2) ​ $ (286.1) ​ ​ ​ ​ ​ ​ ​ Defined benefit pension plans: ​ ​ Balance at beginning of period ​ $ (63.1) ​ $ (76.0) Other comprehensive income - amortization ​ .5 ​ .5 Balance at end of period ​ $ (62.6) ​ $ (75.5) ​ ​ ​ ​ ​ ​ ​ OPEB plans: ​ ​ Balance at beginning of period ​ $ .8 ​ $ .4 Other comprehensive loss - amortization ​ (.1) ​ - Balance at end of period ​ $ .7 ​ $ .4 ​ ​ ​ ​ ​ ​ ​ Total accumulated other comprehensive loss: ​ ​ Balance at beginning of period ​ $ (331.5) ​ $ (341.1) Other comprehensive loss ​ (6.6) ​ (20.1) Balance at end of period ​ $ (338.1) ​ $ (361.2) ​ ​ Our board of directors has previously authorized the repurchase of up to 2.0 million shares of our common stock in open market transactions, including block purchases, or in privately-negotiated transactions at unspecified prices and over an unspecified period of time. We may repurchase our common stock from time to time as market conditions permit. The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on market conditions, we may terminate the program prior to its completion. We use cash on hand or other sources of liquidity to acquire the shares. Repurchased shares are added to our treasury and subsequently cancelled upon approval of the board of directors. ​ In February 2023, we cancelled 133,897 shares of treasury stock purchased in the fourth quarter of 2022. During the first quarter of 2023, we acquired 159,796 shares of our common stock in market transactions for an aggregate purchase price of $1.4 million, which shares were accounted for as treasury stock at March 31, 2023 and were subsequently cancelled. At March 31, 2024, 1,017,518 shares are available for repurchase under this stock repurchase program.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and contingencies
Commitments and contingencies	Note 12 - Commitments and contingencies: We are involved in various environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to our business. At least quarterly our management discusses and evaluates the status of any pending litigation to which we are a party. The factors considered in such evaluation include, among other things, the nature of such pending cases, the status of such pending cases, the advice of legal counsel and our experience in similar cases (if any). Based on such evaluation, we make a determination as to whether we believe (i) it is probable a loss has been incurred, and if so if the amount of such loss (or a range of loss) is reasonably estimable, or (ii) it is reasonably possible but not probable a loss has been incurred, and if so if the amount of such loss (or a range of loss) is reasonably estimable, or (iii) the probability a loss has been incurred is remote. We have not accrued any amounts for litigation matters because it is not reasonably possible we have incurred a loss that would be material to our consolidated financial statements, results of operations or liquidity.

Financial instruments

Financial instruments	3 Months Ended
	Mar. 31, 2024
Financial instruments
Financial instruments	Note 13 - Financial instruments: See Note 4 for information on how we determine fair value of our marketable securities. The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 March 31, 2024 ​ Carrying ​ Fair ​ Carrying ​ Fair ​ amount ​ value ​ amount ​ value ​ (In millions) Cash, cash equivalents and restricted cash $ 202.1 ​ $ 202.1 ​ $ 127.3 ​ $ 127.3 Long-term debt: ​ ​ ​ ​ ​ ​ ​ Fixed rate 9.50% Senior Secured Notes due 2029 ​ - ​ ​ - ​ ​ 292.3 ​ ​ 318.5 Fixed rate 3.75% Senior Secured Notes due 2025 ​ 440.9 ​ ​ 424.5 ​ ​ 80.9 ​ ​ 79.9 ​ At March 31, 2024, the estimated market price of our 9.50% Senior Secured Notes due 2029 was €1,069 per €1,000 principal amount, and the estimated market price of our 3.75% Senior Secured Notes due 2025 was €987 per €1,000 principal amount. The fair values of our Senior Secured Notes were based on quoted market prices; however, these quoted market prices represented Level 2 inputs because the markets in which the Senior Secured Notes trade were not active. Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value. See Notes 2 and 6.

Other operating income (expense

Other operating income (expense), net	3 Months Ended
	Mar. 31, 2024
Other operating income (expense), net
Other operating income (expense), net	Note 14 - Other operating income (expense), net: On August 24, 2020, LPC temporarily halted production due to Hurricane Laura. Although storm damage to core processing facilities was not extensive, a variety of factors, including loss of utilities and limited access and availability of employees and raw materials, prevented the resumption of operations until September 25, 2020. The majority of our losses from property damage and our share of LPC’s lost production and other costs resulting from the disruption of operations, were covered by insurance. We recognized an aggregate gain of $1.7 million in the first quarter of 2023, which is included in other operating expense, net on our Condensed Consolidated Statement of Operations.

Recent accounting pronouncement

Recent accounting pronouncements	3 Months Ended
	Mar. 31, 2024
Recent accounting pronouncements
Recent accounting pronouncements	Note 15 - Recent accounting pronouncements: In November 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The ASU requires public companies to disclose significant segment expenses and other segment items on an annual and interim basis. The ASU also mandates public companies to provide all annual segment disclosures currently required annually in interim periods. Public entities with a single reportable segment are required to provide the new disclosures and all disclosures required under ASC 280. Public companies will also be required to disclose the title and position of the chief operating decision maker (CODM) and explain how the CODM uses the reported measure of segment profit or loss in assessing segment performance and allocation of resources. The ASU is effective for us beginning with our 2024 Annual Report, and for interim reporting, in the first quarter of 2025, with retrospective application required. We are in the process of evaluating the additional disclosure requirements across all segments. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The ASU requires additional annual disclosure and disaggregation for the rate reconciliation, income taxes paid and income tax expense by federal, state and foreign tax jurisdictions. In addition, the standard increases the disclosure requirements for items included in the rate reconciliation that meet a quantitative threshold. The ASU is effective for us beginning with our 2025 Annual Report. The ASU may be applied prospectively; however, entities have the option to apply it retrospectively. We are in the process of evaluating the additional disclosure requirements.

Restructuring costs

Restructuring costs	3 Months Ended
	Mar. 31, 2024
Restructuring costs
Restructuring costs	Note 16 – Restructuring costs: ​ In response to the extended period of reduced demand in 2023, we took measures to reduce our operating costs and improve our long-term cost structure such as the implementation of certain voluntary and involuntary workforce reductions during the third quarter of 2023 that primarily impacted our European operations. A substantial portion of our workforce reductions were accomplished through voluntary programs, for which eligible workforce reduction costs are recognized at the time both the employee and employer are irrevocably committed to the terms of the separation. These workforce reductions impacted approximately 100 employees. We recognized a total of approximately $6 million in charges primarily in the fourth quarter of 2023 related to workforce reductions we implement e sec a l f o f h e y a r with o o h y t ​ In April 2024, we announced plans to close our sulfate process line at our plant in Varennes, Canada by the third quarter of 2024. As a result of the sulfate process line closure, we expect to recognize a charge of approximately $2 million primarily to cost of sales in the second quarter of 2024 related to workforce reductions for employees impacted. In addition, approximately $15 million in non-cash charges related to the closure of the line are expected to be reflected in cost of sales in the second and third quarters of 2024. ​ A summary of the activity in our accrued restructuring costs for the first quarter of 2024 is shown in the table below (in millions): ​ ​ ​ ​ ​ Amount ​ (In millions) Accrued workforce reduction costs at December 31, 2023 $ 5.0 Workforce reduction costs accrued ​ (.1) Workforce reduction costs paid ​ (1.6) Currency translation adjustments, net ​ (.1) ​ ​ ​ Accrued workforce reduction costs at March 31, 2024 $ 3.2 ​ ​ ​ Amounts recognized in the balance sheet: ​ ​ Current liability $ 3.2 Noncurrent liability ​ - ​ ​ ​ Total $ 3.2 ​

Summary of significant accounti

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2024
Organization and basis of presentation
Organization	Organization Thomas C. Connelly (the husband of Ms. Simmons’ late sister),
Basis of Presentation	Basis of presentation 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.
Commitments and Contingencies	We are involved in various environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to our business. At least quarterly our management discusses and evaluates the status of any pending litigation to which we are a party. The factors considered in such evaluation include, among other things, the nature of such pending cases, the status of such pending cases, the advice of legal counsel and our experience in similar cases (if any). Based on such evaluation, we make a determination as to whether we believe (i) it is probable a loss has been incurred, and if so if the amount of such loss (or a range of loss) is reasonably estimable, or (ii) it is reasonably possible but not probable a loss has been incurred, and if so if the amount of such loss (or a range of loss) is reasonably estimable, or (iii) the probability a loss has been incurred is remote. We have not accrued any amounts for litigation matters because it is not reasonably possible we have incurred a loss that would be material to our consolidated financial statements, results of operations or liquidity.

Accounts and other receivable_2

Accounts and other receivables, net (Tables)	3 Months Ended
	Mar. 31, 2024
Accounts and other receivables, net
Accounts and other receivables, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Trade receivables ​ $ 273.6 ​ $ 330.8 Recoverable VAT and other receivables ​ 23.8 ​ 19.5 Receivables from affiliates, other: ​ ​ ​ ​ ​ ​ Louisiana Pigment Company (LPC) ​ ​ 16.9 ​ ​ - Other ​ ​ .4 ​ ​ .4 Refundable income taxes ​ 1.9 ​ 2.0 Allowance for doubtful accounts ​ (4.1) ​ (4.0) Total ​ $ 312.5 ​ $ 348.7 ​

Inventories, net (Tables)

Inventories, net (Tables)	3 Months Ended
	Mar. 31, 2024
Inventories, net
Schedule of Inventories, Net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Raw materials ​ $ 188.3 ​ $ 148.3 Work in process ​ 30.8 ​ 25.6 Finished products ​ 249.6 ​ 208.8 Supplies ​ 95.9 ​ 93.1 Total ​ $ 564.6 ​ $ 475.8 ​

Marketable securities (Tables)

Marketable securities (Tables)	3 Months Ended
	Mar. 31, 2024
Marketable securities
Classification of Marketable securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value ​ ​ ​ ​ ​ ​ ​ ​ measurement ​ Market ​ Cost ​ Unrealized Marketable security level value basis loss ​ ​ ​ (In millions) December 31, 2023: ​ ​ ​ Valhi common stock 1 ​ $ 2.2 ​ $ 3.2 ​ $ (1.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024: ​ ​ ​ ​ ​ Valhi common stock 1 ​ $ 2.5 ​ $ 3.2 ​ $ (.7)

Long-term debt (Tables)

Long-term debt (Tables)	3 Months Ended
	Mar. 31, 2024
Long-term debt
Components of Long Term Debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Kronos International, Inc. 9.50% Senior Secured Notes due 2029 ​ $ - ​ $ 292.3 Kronos International, Inc. 3.75% Senior Secured Notes due 2025 ​ ​ 440.9 ​ ​ 80.9 Subordinated, Unsecured Term Loan from Contran ​ - ​ 53.7 Total long-term debt ​ $ 440.9 ​ $ 426.9

Accounts payable and accrued _2

Accounts payable and accrued liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Accounts payable and accrued liabilities
Components of Accounts Payable and Accrued Liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Accounts payable ​ $ 218.7 ​ $ 143.9 Accrued sales discounts and rebates ​ 22.5 ​ 10.5 Employee benefits ​ 24.7 ​ 23.4 Payables to affiliates: ​ ​ ​ ​ ​ ​ LPC ​ ​ 19.9 ​ ​ 21.0 Income taxes payable to Valhi ​ ​ 10.8 ​ ​ 11.6 Other ​ ​ .6 ​ ​ .6 Operating lease liabilities ​ 3.9 ​ 3.6 Other ​ 54.3 ​ 36.7 Total ​ $ 355.4 ​ $ 251.3 ​

Other noncurrent liabilities (T

Other noncurrent liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Other noncurrent liabilities
Components of Other noncurrent liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, ​ 2023 2024 ​ ​ (In millions) Accrued postretirement benefits ​ $ 6.4 ​ $ 6.2 Employee benefits ​ 4.9 ​ 4.7 Other ​ 10.5 ​ 10.5 Total ​ $ 21.8 ​ $ 21.4 ​

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue From Contract With Customer [Abstract]
Disaggregation of Net Sales by Place of Manufacture and to Location of Customer	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Net sales - point of origin: ​ ​ ​ ​ ​ ​ United States ​ $ 255.8 ​ $ 240.9 Germany ​ 186.0 ​ 212.2 Canada ​ 90.9 ​ 89.3 Norway ​ 71.9 ​ 71.0 Belgium ​ 68.8 ​ 69.6 Eliminations ​ (247.1) ​ (204.2) Total ​ $ 426.3 ​ $ 478.8 ​ ​ ​ ​ ​ ​ ​ Net sales - point of destination: ​ ​ Europe ​ $ 201.1 ​ $ 214.9 North America ​ 148.6 ​ 166.0 Other ​ 76.6 ​ 97.9 Total ​ $ 426.3 ​ $ 478.8 ​

Employee benefit plans (Tables)

Employee benefit plans (Tables)	3 Months Ended
	Mar. 31, 2024
Employee benefit plans
Components of Net Periodic Benefit Cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Net periodic pension cost (income): ​ ​ Service cost ​ $ 1.6 ​ $ 1.7 Interest cost ​ 5.1 ​ 5.0 Expected return on plan assets ​ (4.8) ​ (5.3) Recognized actuarial losses ​ .6 ​ .6 Total ​ $ 2.5 ​ $ 2.0

Income taxes (Tables)

Income taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income taxes
Schedule of effective income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Expected tax expense (benefit), at U.S. federal statutory ​ $ (4.6) ​ $ 2.4 Non-U.S. tax rates ​ (.2) ​ - Incremental net tax benefit on earnings and losses of U.S. ​ - ​ (.6) Valuation allowance, net ​ .2 ​ 1.0 Global intangible low-tax income, net ​ (.5) ​ .3 Adjustment to the reserve for uncertain tax positions, net ​ ​ (1.2) ​ ​ .1 Adjustment of prior year taxes, net ​ (.4) ​ - Nondeductible expenses ​ - ​ .2 Other, net ​ (.2) ​ .1 Income tax expense (benefit) ​ $ (6.9) ​ $ 3.5 ​ ​ ​ ​ ​ ​ ​ Comprehensive provision (benefit) for income taxes allocable to: ​ ​ Net income (loss) ​ $ (6.9) ​ $ 3.5 Other comprehensive income - pension plans ​ ​ .1 ​ ​ .2 Total ​ $ (6.8) ​ $ 3.7

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' equity
Schedule of changes in accumulated other comprehensive loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2024 ​ ​ (In millions) Accumulated other comprehensive loss, net of tax: ​ ​ Currency translation: ​ ​ Balance at beginning of period ​ $ (269.2) ​ $ (265.5) Other comprehensive loss ​ (7.0) ​ (20.6) Balance at end of period ​ $ (276.2) ​ $ (286.1) ​ ​ ​ ​ ​ ​ ​ Defined benefit pension plans: ​ ​ Balance at beginning of period ​ $ (63.1) ​ $ (76.0) Other comprehensive income - amortization ​ .5 ​ .5 Balance at end of period ​ $ (62.6) ​ $ (75.5) ​ ​ ​ ​ ​ ​ ​ OPEB plans: ​ ​ Balance at beginning of period ​ $ .8 ​ $ .4 Other comprehensive loss - amortization ​ (.1) ​ - Balance at end of period ​ $ .7 ​ $ .4 ​ ​ ​ ​ ​ ​ ​ Total accumulated other comprehensive loss: ​ ​ Balance at beginning of period ​ $ (331.5) ​ $ (341.1) Other comprehensive loss ​ (6.6) ​ (20.1) Balance at end of period ​ $ (338.1) ​ $ (361.2)

Financial instruments (Tables)

Financial instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Financial instruments
Financial Instruments not Carried at Fair Value but which Require Fair Value Disclosure	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 March 31, 2024 ​ Carrying ​ Fair ​ Carrying ​ Fair ​ amount ​ value ​ amount ​ value ​ (In millions) Cash, cash equivalents and restricted cash $ 202.1 ​ $ 202.1 ​ $ 127.3 ​ $ 127.3 Long-term debt: ​ ​ ​ ​ ​ ​ ​ Fixed rate 9.50% Senior Secured Notes due 2029 ​ - ​ ​ - ​ ​ 292.3 ​ ​ 318.5 Fixed rate 3.75% Senior Secured Notes due 2025 ​ 440.9 ​ ​ 424.5 ​ ​ 80.9 ​ ​ 79.9

Restructuring costs (Tables)

Restructuring costs (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring costs
Schedule of accrued workforce reduction costs	​ ​ ​ ​ ​ Amount ​ (In millions) Accrued workforce reduction costs at December 31, 2023 $ 5.0 Workforce reduction costs accrued ​ (.1) Workforce reduction costs paid ​ (1.6) Currency translation adjustments, net ​ (.1) ​ ​ ​ Accrued workforce reduction costs at March 31, 2024 $ 3.2 ​ ​ ​ Amounts recognized in the balance sheet: ​ ​ Current liability $ 3.2 Noncurrent liability ​ - ​ ​ ​ Total $ 3.2 ​

Organization and basis of pre_2

Organization and basis of presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024
Valhi Inc | Parent Company
Organization And Basis Of Presentation [Line Items]
Parent company ownership interest	50%
Valhi Inc | NL Industries Inc.
Organization And Basis Of Presentation [Line Items]
Ownership percentage in company	83%
NL Industries Inc. | Parent Company
Organization And Basis Of Presentation [Line Items]
Parent company ownership interest	31%
Contran
Organization And Basis Of Presentation [Line Items]
Controlling interest description	Consequently, at March 31, 2024, Ms. Simmons and the Family Trust may be deemed to control Contran, and therefore may be deemed to indirectly control the wholly-owned subsidiary of Contran, Valhi, NL and us.
Contran | Valhi Inc
Organization And Basis Of Presentation [Line Items]
Ownership percentage of parent company held by related party	91%

Accounts and other receivable_3

Accounts and other receivables, net - Accounts and Other Receivables, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Allowance for doubtful accounts	$ (4)	$ (4.1)
Total	348.7	312.5
Trade receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts and other receivables	330.8	273.6
Recoverable VAT and other receivables
Accounts Notes And Loans Receivable [Line Items]
Accounts and other receivables	19.5	23.8
Refundable income taxes
Accounts Notes And Loans Receivable [Line Items]
Refundable income taxes	2	1.9
Louisiana Pigment Company (LPC) | Trade Items
Accounts Notes And Loans Receivable [Line Items]
Receivables from affiliates		16.9
Other Affiliates | Other Receivable
Accounts Notes And Loans Receivable [Line Items]
Receivables from affiliates	$ 0.4	$ 0.4

Inventories, net - Schedule of

Inventories, net - Schedule of Inventories, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventories, net
Raw materials	$ 148.3	$ 188.3
Work in process	25.6	30.8
Finished products	208.8	249.6
Supplies	93.1	95.9
Total	$ 475.8	$ 564.6

Marketable Securities - Classif

Marketable Securities - Classification of marketable securities (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Marketable securities
Market value	$ 2.5	$ 2.2
Level 1 | Common stock | Valhi
Marketable securities
Market value	2.5	2.2
Cost basis	3.2	3.2
Unrealized loss	$ (0.7)	$ (1)

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - Valhi Inc - Common stock - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Marketable securities
Investments in publicly-traded shares (in shares)	144,000	144,000
Quoted market price of per share (in dollars per share)	$ 17.18	$ 15.19

Long-term debt - Components of

Long-term debt - Components of Long-Term Debt (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Long-term debt
Total long-term debt	$ 426.9	$ 440.9
9.50% Senior Secured Notes due 2029
Long-term debt
Kronos International, Inc.	292.3
3.75% Senior Secured Notes due 2025
Long-term debt
Kronos International, Inc.	80.9	440.9
Subordinated, Unsecured Term Loan from Contran
Long-term debt
Subordinated debt	53.7
Kronos International, Inc | 9.50% Senior Secured Notes due 2029
Long-term debt
Kronos International, Inc.	292.3
Kronos International, Inc | 3.75% Senior Secured Notes due 2025
Long-term debt
Kronos International, Inc.	$ 80.9	$ 440.9

Long-term debt - Senior Notes -

Long-term debt - Senior Notes - Additional Information (Detail) $ in Millions			3 Months Ended
	Feb. 12, 2024 USD ($)	Feb. 12, 2024 EUR (€)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Feb. 12, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Senior Notes
Long-term debt
Minimum amount of debt default for using customary default provisions | $	$ 50
On or Before March 15, 2026
Long-term debt
Private equity offerings	109.50%	109.50%
3.75% Senior Secured Notes due 2025
Long-term debt
Debt instrument principal amount					€ 325,000,000
Debt instrument base principal amount				€ 1,000
Debt instrument interest rate	3.75%		3.75%	3.75%	3.75%
Interest expense | $			$ 1.5
Cash consideration to be paid for Old Note holders	$ 52.6	€ 48,750,000
Principal amount of old note exchange for new note					€ 1,000
Cash consideration paid for each of €1,000 principal amount of Old Note		€ 150
Principal amount outstanding | $			$ 80.9			$ 440.9
9.50% Senior Secured Notes due 2029
Long-term debt
Debt instrument principal amount				€ 276,174,000	€ 276,174,000
Debt instrument base principal amount				€ 1,000
Debt instrument interest rate	9.50%		9.50%	9.50%	9.50%
Debt instrument, redemption price percentage	100%	100%
Debt instrument redemption price percent if experience certain specified change of control events	101%	101%
Unamortized debt issuance costs | $			$ 5.6
Debt issuance costs | $			5.7
Principal amount of New Note executed for each €1,000 principal of old note					€ 850
Remaining outstanding					75,000,000
Principal amount outstanding | $			$ 292.3
9.50% Senior Secured Notes due 2029 | On or After March 15, 2026
Long-term debt
Debt instrument, redemption price percentage	104.75%	104.75%
9.50% Senior Secured Notes due 2029 | On or After March 15, 2028
Long-term debt
Debt instrument, redemption price percentage	100%	100%
9.50% Senior Secured Notes due 2029 | On or Before March 15, 2026
Long-term debt
Debt instrument, percentage of debt that may be redeemed	40%	40%
Redemption percentage	50%	50%
Subordinated, unsecured term loan
Long-term debt
Debt instrument principal amount	$ 53.7				€ 50,000,000
Debt instrument interest rate	11.50%				11.50%
Kronos International, Inc | 3.75% Senior Secured Notes due 2025
Long-term debt
Debt instrument principal amount				€ 75,000,000
Debt instrument interest rate			3.75%	3.75%
Principal amount outstanding | $			$ 80.9			$ 440.9
Kronos International, Inc | 9.50% Senior Secured Notes due 2029
Long-term debt
Debt instrument interest rate			9.50%	9.50%
Debt instrument, interest payment terms			bear interest at 9.50% per annum, payable semi-annually on March 15 and September 15 of each year, payments begin on September 15, 2024;
Debt instrument, frequency of periodic payment of interest			semi-annually
Debt instrument, date of first semi-annual interest payment	--03-15	--03-15
Debt instrument, date of second semi-annual interest payment	--09-15	--09-15
Debt Instrument, date of first required semi-annual payment	Sep. 15, 2024	Sep. 15, 2024
Principal amount outstanding | $			$ 292.3
Kronos International, Inc | 9.50% Senior Secured Notes due 2029 | Collateral Pledged | Direct Domestic Subsidiary of KII and Guarantors
Long-term debt
Ownership interest percentage owned by parent	100%				100%
Kronos International, Inc | 9.50% Senior Secured Notes due 2029 | Collateral Pledged | Non US Subsidiary Directly Owned by KII or any Guarantor
Long-term debt
Ownership interest percentage owned by parent	65%				65%
Kronos International, Inc | 9.50% Senior Secured Notes due 2029 | Collateral Pledged | Non US Subsidiary Directly Owned by KII or any Guarantor | Non-voting Common Stock
Long-term debt
Ownership interest percentage owned by parent	100%				100%

Long-term debt - Subordinated,

Long-term debt - Subordinated, Unsecured Term Loan from Contran and Revolving Credit Facilities - Additional Information (Detail) € in Millions, $ in Millions		3 Months Ended
	Feb. 12, 2024 USD ($)	Mar. 31, 2024 USD ($)	Feb. 12, 2024 EUR (€)
Subordinated, unsecured term loan
Long-term debt
Debt instrument principal amount	$ 53.7		€ 50
Debt instrument interest rate	11.50%		11.50%
Debt instrument basis spread on variable rate	2%
Global Revolver
Long-term debt
Maximum borrowing capacity	$ 225	$ 225
Borrowings under credit facility during the period		0
Repayments of lines of credit		0
Amount available for Borrowing		$ 225

Accounts payable and accrued _3

Accounts payable and accrued liabilities - Components of Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts payable and accrued liabilities
Accounts payable	$ 143.9	$ 218.7
Accrued sales discounts and rebates	10.5	22.5
Employee benefits	23.4	24.7
Operating lease liabilities	$ 3.6	$ 3.9
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total	Total
Other	$ 36.7	$ 54.3
Total	251.3	355.4
Other payable
Accounts payable and accrued liabilities
Current payables to affiliates	0.6	0.6
Louisiana Pigment Company, L.P.
Accounts payable and accrued liabilities
Current payables to affiliates	21	19.9
Valhi
Accounts payable and accrued liabilities
Current payables to affiliates	$ 11.6	$ 10.8

Other noncurrent liabilities -

Other noncurrent liabilities - Components of Other Noncurrent Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Other noncurrent liabilities
Accrued postretirement benefits	$ 6.2	$ 6.4
Employee benefits	4.7	4.9
Other	10.5	10.5
Total	$ 21.4	$ 21.8

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Net Sales by Place of Manufacture and to Location of Customer (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 478.8	$ 426.3
Point of origin
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	478.8	426.3
Point of origin | Reportable geographical components | United States
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	240.9	255.8
Point of origin | Reportable geographical components | Germany
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	212.2	186
Point of origin | Reportable geographical components | Canada
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	89.3	90.9
Point of origin | Reportable geographical components | Belgium
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	69.6	68.8
Point of origin | Reportable geographical components | Norway
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	71	71.9
Point of origin | Eliminations
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	(204.2)	(247.1)
Point of destination
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	478.8	426.3
Point of destination | Europe
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	214.9	201.1
Point of destination | North America
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	166	148.6
Point of destination | Other
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 97.9	$ 76.6

Employee benefit plans - Compon

Employee benefit plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]
Expected contributions for pension plans in 2024			$ 17
Foreign Pension Plans Defined Benefit | Defined benefit pension plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1.7	$ 1.6
Interest cost	5	5.1
Expected return on plan assets	(5.3)	(4.8)
Recognized actuarial losses	0.6	0.6
Total	$ 2	$ 2.5

Income taxes - Components of In

Income taxes - Components of Income Taxes and Comprehensive Provision for Income Taxes Allocation (Details) - USD ($) $ in Millions	3 Months Ended		15 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024
Income taxes
Expected tax expense (benefit), at U.S. federal statutory income tax rate of 21%	$ 2.4	$ (4.6)
U.S. Federal statutory income tax rate			21%
Non-U.S. tax rates		(0.2)
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. companies	(0.6)
Valuation allowance, net	1	0.2
Global intangible low-tax income, net	0.3	(0.5)
Adjustment to the reserve for uncertain tax positions, net	0.1	(1.2)
Adjustment of prior year taxes, net		(0.4)
Nondeductible expenses	0.2
Other, net	0.1	(0.2)
Income tax expense (benefit)	3.5	(6.9)
Comprehensive provision for income taxes (benefit) allocable to:
Net income (loss)	3.5	(6.9)
Other comprehensive income (loss):
Pension plans	0.2	0.1
Total	$ 3.7	(6.8)
Non-cash deferred income tax expense		$ 1

Stockholders' equity - Addition

Stockholders' equity - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2023	Dec. 31, 2023	Mar. 31, 2023	Mar. 31, 2024
Accumulated Other Comprehensive Income Loss [Line Items]
Number of shares authorized for repurchase				2,000,000
Treasury stock purchased	133,897
Aggregate purchase price			$ 1.4
Shares available for repurchase under the plan				1,017,518
Common stock
Accumulated Other Comprehensive Income Loss [Line Items]
Stock repurchased and acquired in market transactions		159,796
Treasury Stock, Common
Accumulated Other Comprehensive Income Loss [Line Items]
Aggregate purchase price		$ 1.4	$ 1.4

Stockholders' equity - Schedule

Stockholders' equity - Schedule of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 808.3	$ 957.2
Ending Balance	774.4	912.1
Currency translation
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(265.5)	(269.2)
Other comprehensive income (loss)	(20.6)	(7)
Ending Balance	(286.1)	(276.2)
Accumulated Defined benefit pension plans | Defined benefit pension plans
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(76)	(63.1)
Other comprehensive income (loss)	0.5	0.5
Ending Balance	(75.5)	(62.6)
Accumulated Defined benefit pension plans | OPEB Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	0.4	0.8
Other comprehensive income (loss)		(0.1)
Ending Balance	0.4	0.7
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(341.1)	(331.5)
Other comprehensive income (loss)	(20.1)	(6.6)
Ending Balance	$ (361.2)	$ (338.1)

Financial Instruments - Financi

Financial Instruments - Financial Instruments not Carried at Fair Value but which Require Fair Value Disclosure (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Feb. 12, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Financial Instrument At Fair Value [Line Items]
Cash, cash equivalents and restricted cash, Carrying amount	$ 127.3		$ 202.1	$ 184.2	$ 334.6
Cash, cash equivalents and restricted cash, Fair value	127.3		202.1
9.50% Senior Secured Notes due 2029
Financial Instrument At Fair Value [Line Items]
Principal amount outstanding	292.3
Long-term debt - Fixed rate	$ 318.5
Debt instrument interest rate	9.50%	9.50%
3.75% Senior Secured Notes due 2025
Financial Instrument At Fair Value [Line Items]
Principal amount outstanding	$ 80.9		440.9
Long-term debt - Fixed rate	$ 79.9		$ 424.5
Debt instrument interest rate	3.75%	3.75%

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - EUR (€)	Mar. 31, 2024	Feb. 12, 2024
3.75% Senior Secured Notes due 2025
Financial Instrument At Fair Value [Line Items]
Debt instrument interest rate	3.75%	3.75%
Debt instrument estimated market price per 1000 principal amount	€ 987
Debt instrument base principal amount	€ 1,000
9.50% Senior Secured Notes due 2029
Financial Instrument At Fair Value [Line Items]
Debt instrument interest rate	9.50%	9.50%
Debt instrument estimated market price per 1000 principal amount	€ 1,069
Debt instrument base principal amount	€ 1,000

Other operating income (expen_2

Other operating income (expense), net (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Other operating income (expense), net
Insurance settlement gain	$ 1.7

Restructuring costs (Detail)

Restructuring costs (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Apr. 30, 2024 USD ($)	Sep. 30, 2023 individual
Restructuring Cost and Reserve [Line Items]
Number of individuals impacted from workforce reductions | individual				100
Restructuring Charges	$ (0.1)
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 6
Sulfate Process Line at Plant in Varennes, Canada | 2nd Quarter of 2024
Restructuring Cost and Reserve [Line Items]
Cost of sales			$ 2
Sulfate Process Line at Plant in Varennes, Canada | 2nd and 3rd Quarter of 2024
Restructuring Cost and Reserve [Line Items]
Cost of sales			$ 15

Restructuring costs - Accrued w

Restructuring costs - Accrued workforce reduction cost (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring costs
Accrued workforce reduction costs at December 31, 2023	$ 5
Workforce reduction costs accrued	(0.1)
Workforce reduction costs paid	(1.6)
Currency translation adjustments, net	(0.1)
Accrued workforce reduction costs at March 31, 2024	3.2
Amounts recognized in the balance sheet:
Current liability	3.2
Accrued workforce reduction cost	$ 3.2