Tronox Holdings plc Files 2023 Annual Report on Form 10-K

Ticker: TROX · Form: 10-K · Filed: Feb 21, 2024 · CIK: 1530804

Tronox Holdings PLC 10-K Filing Summary
FieldDetail
CompanyTronox Holdings PLC (TROX)
Form Type10-K
Filed DateFeb 21, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.01, $89 million, $261 million, $350 million, $273 million
Sentimentneutral

Sentiment: neutral

Topics: Tronox Holdings, 10-K, Annual Report, Industrial Chemicals, Financials

TL;DR

<b>Tronox Holdings plc has filed its 2023 Annual Report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Tronox Holdings plc (TROX) filed a Annual Report (10-K) with the SEC on February 21, 2024. Tronox Holdings plc filed its 2023 Annual Report on Form 10-K on February 21, 2024. The report covers the fiscal year ending December 31, 2023. The company's principal business is Industrial Inorganic Chemicals. Tronox Holdings plc is incorporated in X0. The filing includes financial data for the fiscal years 2020 through 2023.

Why It Matters

For investors and stakeholders tracking Tronox Holdings plc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Tronox's financial health, operational performance, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial statements and risk factors disclosed in the 10-K are essential for stakeholders to understand the company's exposure to market fluctuations, operational challenges, and regulatory environments within the industrial inorganic chemicals sector.

Risk Assessment

Risk Level: medium — Tronox Holdings plc shows moderate risk based on this filing. The company operates in the industrial inorganic chemicals sector, which is subject to cyclical demand, raw material price volatility, and environmental regulations, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Tronox's performance and potential challenges in the industrial inorganic chemicals market.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Period covered by the 10-K)
  • 2024-02-21 — Filing Date (Date the 10-K was filed)
  • 287 — Public Document Count (Number of documents in the filing)
  • 2023 — Fiscal Year (Year for which the report is filed)

Key Players & Entities

  • Tronox Holdings plc (company) — Filer of the 10-K report
  • 2023-12-31 (date) — Fiscal year end
  • 2024-02-21 (date) — Filing date
  • 0001530804 (company) — Central Index Key
  • 2810 (industry) — Standard Industrial Classification for Industrial Inorganic Chemicals
  • X0 (jurisdiction) — State of Incorporation
  • 001-35573 (filing_id) — SEC File Number

FAQ

When did Tronox Holdings plc file this 10-K?

Tronox Holdings plc filed this Annual Report (10-K) with the SEC on February 21, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Tronox Holdings plc (TROX).

Where can I read the original 10-K filing from Tronox Holdings plc?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Tronox Holdings plc.

What are the key takeaways from Tronox Holdings plc's 10-K?

Tronox Holdings plc filed this 10-K on February 21, 2024. Key takeaways: Tronox Holdings plc filed its 2023 Annual Report on Form 10-K on February 21, 2024.. The report covers the fiscal year ending December 31, 2023.. The company's principal business is Industrial Inorganic Chemicals..

Is Tronox Holdings plc a risky investment based on this filing?

Based on this 10-K, Tronox Holdings plc presents a moderate-risk profile. The company operates in the industrial inorganic chemicals sector, which is subject to cyclical demand, raw material price volatility, and environmental regulations, as indicated by its SIC code and the nature of its business.

What should investors do after reading Tronox Holdings plc's 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to understand Tronox's performance and potential challenges in the industrial inorganic chemicals market. The overall sentiment from this filing is neutral.

How does Tronox Holdings plc compare to its industry peers?

Tronox Holdings plc operates in the Industrial Inorganic Chemicals sector, which is characterized by the production of essential chemicals used in various industrial processes and consumer goods.

Are there regulatory concerns for Tronox Holdings plc?

The company is subject to SEC regulations for public companies, requiring regular filings like the 10-K to disclose financial and operational information.

Industry Context

Tronox Holdings plc operates in the Industrial Inorganic Chemicals sector, which is characterized by the production of essential chemicals used in various industrial processes and consumer goods.

Regulatory Implications

The company is subject to SEC regulations for public companies, requiring regular filings like the 10-K to disclose financial and operational information.

What Investors Should Do

  1. Review the full 10-K filing for detailed financial statements and management discussion.
  2. Analyze the risk factors section to understand potential challenges and uncertainties.
  3. Compare the 2023 financial performance with previous years to identify trends.

Key Dates

  • 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
  • 2024-02-21: Filing Date — Date Tronox Holdings plc submitted its 10-K to the SEC.

Year-Over-Year Comparison

This filing is the 2023 annual report, providing updated financial and operational data compared to previous filings.

Filing Stats: 4,548 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-02-21 15:01:41

Key Financial Figures

  • $0.01 — registered Ordinary Shares, par value $0.01 per share New York Stock Exchange Tr
  • $89 million — In addition to returning approximately $89 million in cash to shareholders in the form of
  • $261 million — in the form of dividends and investing $261 million of capital during 2023, we also strengt
  • $350 million — ned our liquidity position by closing a $350 million incremental term loan. We believe the a
  • $273 million — the end of 2023, we had cash on hand of $273 million and untapped short-term borrowing capac
  • $488 million — tapped short-term borrowing capacity of $488 million. Develop Our Position as a Significan
  • $2.2 billion — e applications. In 2023, we generated $2.2 billion in revenue from sales of TiO 2 . Zirc
  • $257 million — d applications. In 2023, we generated $257 million in revenue from sales of zircon. Othe
  • $345 million — erchant market. In 2023, we generated $345 million in revenue from the sale of high purity

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 26 Item 1C. Cybersecurity 26 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 50 Item 4. Mine Safety Disclosures 51 PART II Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 52 Item 6.

Selected Financial Data

Selected Financial Data 53 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 53 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 65 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 68 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 117 Item 9A.

Controls and Procedures

Controls and Procedures 118 Item 9B. Other Information 118 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 119 PART III Item 10. Directors, Executive Officers and Corporate Governance 120 Item 11.

Executive Compensation

Executive Compensation 120 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 120 Item 13. Certain Relationships and Related Transactions, and Director Independence 121 Item 14. Principal Accounting Fees and Services 121 PART IV Item 15. Exhibits, Financial Statement Schedules 122 Item 16. Form 10-K Summary 123

SIGNATURES

SIGNATURES 124 i TABLE OF CONTENTS SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS We have made statements under the captions "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations", and in other sections of this Form 10-K that are forward-looking statements. Forward-looking statements also can be identified by words such as "future," "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "will," "would," "could," "can," "may," and similar terms. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the numerous risks and uncertainties outlined in "Risk Factors." These risks and uncertainties are not exhaustive. Other sections of this Form 10-K may include additional factors, which could adversely impact our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot

Business

Item 1. Business Overview Tronox is the world's leading vertically integrated manufacturer of TiO 2 pigment. We operate titanium-bearing mineral sand mines and beneficiation and smelting operations in Australia and South Africa to produce feedstock materials that can be processed into TiO 2 for pigment, high purity titanium chemicals, including titanium tetrachloride, and ultrafine TiO 2 used in certain specialty applications. Our strategy is to be vertically integrated and produce enough feedstock materials to be as self-sufficient as possible in the production of TiO 2 at our nine pigment facilities located in the United States, Australia, Brazil, UK, France, the Netherlands, China and the Kingdom of Saudi Arabia ("KSA"). We believe that vertical integration is the best way to achieve our ultimate goal of delivering low cost, high-quality pigment to our approximately 1,200 TiO 2 customers throughout the world. The mining, beneficiation and smelting of titanium bearing mineral sands also creates meaningful quantities of co-products including zircon, pig iron and the rare-earth bearing mineral, monazite, which we also supply to customers around the world. The following chart highlights the TiO 2 value chain we participate in. The following sets forth the percentage of our revenue derived from sales of our products by geographic region for the year ended December 31, 2023. 1 TABLE OF CONTENTS The below sets forth the percentage of our revenue derived from sales of our products for the year ended December 31, 2023. For further financial information regarding our products and geographic regions, see the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations", as well as Notes 3 and 23 of notes to our consolidated financial statements, each included elsewhere in this Form 10-K. 2023 Key Strategic Initiatives The following sets forth the key strategic initiatives underway in 2023: Become the Low Cost T

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