CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Cash flows from operating activities: |
|
|
|
| Net income (loss) |
$ 43.3
|
$ (173.6)
|
$ 99.2
|
| Depreciation and amortization |
40.5
|
42.1
|
49.2
|
| Deferred income taxes |
7.7
|
138.5
|
19.6
|
| Securities transactions, net |
|
12.0
|
|
| Benefit plan expense greater than cash funding |
5.8
|
5.1
|
0.5
|
| Distributions from TiO2 manufacturing joint venture, net |
3.6
|
6.5
|
10.6
|
| Other, net |
3.0
|
6.3
|
10.7
|
| Change in assets and liabilities: |
|
|
|
| Accounts and other receivables |
(37.4)
|
20.1
|
(27.8)
|
| Inventories |
38.8
|
(9.5)
|
(52.3)
|
| Prepaid expenses |
(1.5)
|
(1.6)
|
(0.4)
|
| Accounts payable and accrued liabilities |
(12.9)
|
(12.0)
|
(21.1)
|
| Income taxes |
3.8
|
(1.5)
|
6.3
|
| Accounts with affiliates |
(5.8)
|
19.2
|
(4.1)
|
| Other noncurrent assets |
0.3
|
0.3
|
2.6
|
| Other noncurrent liabilities |
0.4
|
0.2
|
(5.3)
|
| Net cash provided by operating activities |
89.6
|
52.1
|
87.7
|
| Cash flows from investing activities - |
|
|
|
| Capital expenditures |
(53.0)
|
(47.1)
|
(61.2)
|
| Net cash used in investing activities |
(53.0)
|
(47.1)
|
(61.2)
|
| Indebtedness: |
|
|
|
| Borrowings |
266.2
|
1.3
|
430.4
|
| Principal payments |
(270.0)
|
(3.9)
|
(265.2)
|
| Deferred financing fees |
|
|
(6.1)
|
| Dividends paid |
(69.5)
|
(69.5)
|
(69.5)
|
| Net cash provided by (used in) financing activities |
(73.3)
|
(72.1)
|
89.6
|
| Cash, cash equivalents and restricted cash – net change from: |
|
|
|
| Operating, investing and financing activities |
(36.7)
|
(67.1)
|
116.1
|
| Effect of exchange rate changes |
(5.3)
|
(8.5)
|
(10.0)
|
| Net change for the year |
(42.0)
|
(75.6)
|
106.1
|
| Balance at beginning of year |
94.3
|
169.9
|
63.8
|
| Balance at end of year |
52.3
|
94.3
|
169.9
|
| Cash paid for: |
|
|
|
| Interest, net of amounts capitalized |
18.4
|
16.6
|
14.7
|
| Income taxes |
6.6
|
1.4
|
17.5
|
| Accrual for capital expenditures |
$ 8.0
|
$ 6.8
|
$ 7.0
|