康诺斯全球 2025年季度报告

☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OFTHE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission file number1-31763 KRONOS WORLDWIDE,INC. (Exact name of registrant as specified in its charter) 5430 LBJ Freeway,Suite1700Dallas,Texas75240-2620(Address of principal executive offices)Registrant’s telephone number, including area code: (972)233-1700 Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or15(d)of the Securities Exchange Act of 1934 during the preceding 12months and (2)has been subject to suchfiling requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File requiredto be submitted pursuant to Rule405 of Regulation S-T during the preceding 12months (or for such shorterperiod that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, smaller reporting company or an emerging growth company. See the definitions of “large acceleratedfiler,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of theExchange Act. Accelerated filer☒Smaller reporting company☐ Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒ Number of shares of the registrant’s common stock, $.01 par value per share, outstanding on November 3, 2025:115,053,116 KRONOS WORLDWIDE,INC. AND SUBSIDIARIESINDEX PartI.FINANCIAL INFORMATION Item1.Financial Statements Condensed Consolidated Balance Sheets-December31, 2024 and September 30, 2025 (unaudited)3Condensed Consolidated Statements of Operations (unaudited)-Three and nine months ended September 30, 2024 and 20255Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited)-Three and nine months ended September 30, 2024 and 20256Condensed Consolidated Statements of Stockholders’ Equity (unaudited)-Three and nine months ended September 30, 2024 and 20257Condensed Consolidated Statements of Cash Flows (unaudited)-Nine months ended September 30, 2024 and 20258Notesto Condensed Consolidated Financial Statements (unaudited)10Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations20Item3.Quantitative and Qualitative Disclosure About Market Risk32Item4.Controls and Procedures32PartII.OTHER INFORMATIONItem1A.Risk Factors33Item 6.Exhibits34Items 2, 3, 4 and 5 of PartII are omitted because there is no information to report. KRONOS WORLDWIDE,INC. AND SUBSIDIARIES (In millions, except per share data) KRONOS WORLDWIDE,INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(In millions) KRONOS WORLDWIDE,INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY(In millions) KRONOS WORLDWIDE,INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In millions) KRONOS WORLDWIDE,INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)(In millions) See accompanying notes to Condensed Consolidated Financial Statements. KRONOS WORLDWIDE,INC. AND SUBSIDIARIES NOTESTO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS September 30, 2025 (unaudited) Note1- Organization and basis of presentation: Organization-At September 30, 2025 Valhi,Inc. (NYSE: VHI) held approximately50% of our outstandingcommon stock and a wholly-owned subsidiary of NL Industries,Inc. (NYSE: NL) held approximately31% of ourcommon stock. Valhi owned approximately83% of NL’s outstanding common stock and a wholly-owned subsidiary ofContranCorporation held approximately 91%of Valhi’s outstanding common stock.A majority ofContran’soutstanding voting stock is held directly by Lisa K. Simmons and by family stockholders (Thomas C.Connelly (the husband of Ms.Simmons’ late sister),a family-owned entity and various family trusts established forthe benefit of Ms.Simmons, Mr. Connelly and their children)who arerequired to vote their shares of Contran votingstock in the same manner as Ms. Simmons.Such voting rights are personal to Ms.Simmons and last through April22,2030. The remainder of Contran’s outstanding voting stock is held by another trust (the “Family Trust”), which wasestablished for the benefit of Ms.Simmons and her late sister and their children and for which a third-party financialinstitution serves as trustee.Consequently, at September 30, 2025, Ms.Simmons and the Family Trust may be deemedto control Contran, and therefore may be deeme