TiO2 segment information

6 Months Ended

Jun. 30, 2026

Note 2 - TiO₂ segment information:

Our chief operating decision maker (“CODM”) evaluates the TiO₂ segment’s operating performance based on net income (loss) and segment profit (a non-GAAP measure), which we define as net income (loss) before income tax expense and certain general corporate items. These general corporate items include corporate expense and the components of other income (expense) except for trade interest income which is not significant. Differences between segment profit and the amounts included in consolidated net income (loss) are shown in the table below. Substantially all depreciation expense is included in the calculation of segment profit.


		Three months ended					Six months ended
		June 30,					June 30,
		2025			2026			2025		2026

		(In millions)
Net sales		$	494.4		$	558.1	$	984.2	$	1,067.9

Segment profit		$	10.9		$	41.0	$	52.5	$	56.1
Corporate expenses			(3.3)			(3.2)		(6.3)		(5.6)
Corporate interest and dividend income			.1			.1		.3		.2
Marketable equity securities			-			-		(1.0)		.3
Other components of net periodic pension and OPEB cost			(.6)			(.8)		(1.1)		(1.6)
Interest expense			(12.8)			(14.2)		(24.4)		(28.5)
Income tax expense			(3.5)			(7.7)		(11.1)		(10.5)
Net income (loss)		$	(9.2)		$	15.2	$	8.9	$	10.4

Depreciation expense		$	15.1		$	15.8	$	29.0	$	31.2