falsedesktopGRA2020-09-30000104530920000125{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☑\tAccelerated filer\t☐\nNon-accelerated filer\t☐\tSmaller reporting company\t☐\n\t\tEmerging growth company\t☐\n", "q10k_tbl_1": "Part I. Financial Information\t\t\t\nItem 1.\tFinancial Statements (unaudited)\t\t3\n\tConsolidated Statements of Operations\t\t3\n\tConsolidated Statements of Comprehensive Income (Loss)\t\t4\n\tConsolidated Statements of Cash Flows\t\t5\n\tConsolidated Balance Sheets\t\t6\n\tConsolidated Statements of Equity\t\t7\n\tNotes to Consolidated Financial Statements\t\t\n\t1.\tBasis of Presentation and Summary of Significant Accounting and Financial Reporting Policies\t9\n\t2.\tInventories\t10\n\t3.\tDebt\t11\n\t4.\tFair Value Measurements and Risk\t12\n\t5.\tIncome Taxes\t19\n\t6.\tPension Plans and Other Retirement Plans\t20\n\t7.\tOther Balance Sheet Accounts\t21\n\t8.\tCommitments and Contingent Liabilities\t22\n\t9.\tRestructuring Expenses and Repositioning Expenses\t25\n\t10.\tOther (Income) Expense net\t27\n\t11.\tOther Comprehensive Income (Loss)\t27\n\t12.\tEarnings Per Share\t29\n\t13.\tRevenues\t30\n\t14.\tSegment Information\t32\n\t15.\tRelated Party Transactions\t34\n\t16.\tAcquisitions\t36\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t\t37\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t\t57\nItem 4.\tControls and Procedures\t\t57\nPart II. Other Information\t\t\t\nItem 1.\tLegal Proceedings\t\t58\nItem 1A.\tRisk Factors\t\t58\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t\t59\nItem 4.\tMine Safety Disclosures\t\t60\nItem 6.\tExhibits\t\t60\n\tSignatures\t\t62\n", "q10k_tbl_2": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions except per share amounts)\t2020\t2019\t2020\t2019\nNet sales\t419.4\t470.5\t1259.6\t1453.6\nCost of goods sold\t263.0\t279.5\t824.3\t864.6\nGross profit\t156.4\t191.0\t435.3\t589.0\nSelling general and administrative expenses\t68.1\t74.2\t211.1\t223.7\nResearch and development expenses\t15.6\t14.9\t49.3\t48.2\nCosts related to legacy matters\t30.6\t3.7\t36.1\t52.1\nEquity in earnings of unconsolidated affiliate\t(1.3)\t(3.8)\t(5.9)\t(13.9)\nRestructuring and repositioning expenses\t2.4\t3.4\t29.0\t12.1\nLoss on early extinguishment of debt\t39.4\t0\t39.4\t0\nInterest expense and related financing costs\t19.8\t18.6\t57.3\t58.2\nOther (income) expense net\t5.3\t(1.1)\t(12.1)\t(3.2)\nTotal costs and expenses\t179.9\t109.9\t404.2\t377.2\nIncome (loss) before income taxes\t(23.5)\t81.1\t31.1\t211.8\n(Provision for) benefit from income taxes\t30.2\t(27.3)\t8.1\t(57.0)\nNet income (loss)\t6.7\t53.8\t39.2\t154.8\nLess: Net (income) loss attributable to noncontrolling interests\t0.3\t(0.1)\t2.5\t(0.2)\nNet income (loss) attributable to W. R. Grace & Co. shareholders\t7.0\t53.7\t41.7\t154.6\nEarnings Per Share Attributable to W. R. Grace & Co. Shareholders\t\t\t\t\nBasic earnings per share:\t\t\t\t\nNet income (loss)\t0.11\t0.81\t0.63\t2.31\nWeighted average number of basic shares\t66.2\t66.7\t66.3\t66.8\nDiluted earnings per share:\t\t\t\t\nNet income (loss)\t0.11\t0.80\t0.63\t2.31\nWeighted average number of diluted shares\t66.2\t66.8\t66.3\t66.9\nDividends per common share\t0.30\t0.27\t0.90\t0.81\n", "q10k_tbl_3": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nNet income (loss)\t6.7\t53.8\t39.2\t154.8\nOther comprehensive income (loss) net of income taxes:\t\t\t\t\nDefined benefit pension and other postretirement plans\t0\t(0.1)\t(0.2)\t(0.3)\nCurrency translation adjustments\t(20.9)\t22.4\t(25.9)\t27.3\nGain (loss) from hedging activities\t3.0\t(0.5)\t1.2\t(9.6)\nTotal other comprehensive income (loss)\t(17.9)\t21.8\t(24.9)\t17.4\nComprehensive income (loss)\t(11.2)\t75.6\t14.3\t172.2\nLess: comprehensive (income) loss attributable to noncontrolling interests\t0.3\t(0.1)\t2.5\t(0.2)\nComprehensive income (loss) attributable to W. R. Grace & Co. shareholders\t(10.9)\t75.5\t16.8\t172.0\n", "q10k_tbl_4": "\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\nOPERATING ACTIVITIES\t\t\nNet income (loss)\t39.2\t154.8\nReconciliation to net cash provided by (used for) operating activities:\t\t\nDepreciation and amortization\t77.1\t75.3\nEquity in earnings of unconsolidated affiliate\t(5.9)\t(13.9)\nDividends received from unconsolidated affiliate\t10.0\t0\nCosts related to legacy matters\t36.1\t52.1\nCash paid for legacy matters\t(17.1)\t(13.8)\nProvision for (benefit from) income taxes\t(8.1)\t57.0\nCash paid for income taxes\t(35.6)\t(39.6)\nIncome tax refunds received\t7.6\t7.1\nDefined benefit pension expense\t10.2\t13.9\nCash paid under defined benefit pension arrangements\t(13.0)\t(12.3)\nLoss on early extinguishment of debt\t39.4\t0\nLoss on disposal of assets\t21.8\t2.2\nChanges in assets and liabilities excluding effect of currency translation and acquisitions:\t\t\nTrade accounts receivable\t74.6\t11.6\nInventories\t56.3\t(58.0)\nAccounts payable\t(34.3)\t13.6\nAll other items net\t0.8\t18.4\nNet cash provided by (used for) operating activities\t259.1\t268.4\nINVESTING ACTIVITIES\t\t\nCash paid for capital expenditures\t(123.8)\t(142.6)\nBusiness acquired net of cash acquired\t(2.0)\t(22.8)\nOther investing activities net\t(27.9)\t(4.4)\nNet cash provided by (used for) investing activities\t(153.7)\t(169.8)\nFINANCING ACTIVITIES\t\t\nBorrowings under credit arrangements\t12.2\t10.3\nRepayments under credit arrangements\t(31.3)\t(17.5)\nProceeds from issuance of notes\t750.0\t0\nRepayment of notes\t(700.0)\t0\nCash paid related to early extinguishment of debt\t(37.9)\t0\nCash paid for debt financing costs\t(7.9)\t0\nCash paid for repurchases of common stock\t(40.4)\t(29.8)\nProceeds from exercise of stock options\t0\t19.1\nDividends paid to shareholders\t(60.2)\t(54.6)\nOther financing activities net\t(4.2)\t(4.9)\nNet cash provided by (used for) financing activities\t(119.7)\t(77.4)\nEffect of currency exchange rate changes on cash cash equivalents and restricted cash\t0.3\t(3.3)\nNet increase (decrease) in cash cash equivalents and restricted cash\t(14.0)\t17.9\nCash cash equivalents and restricted cash beginning of period\t282.9\t201.0\nCash cash equivalents and restricted cash end of period\t268.9\t218.9\nSupplemental disclosure of cash flow information\t\t\nCash paid for interest net of amounts capitalized\t46.1\t39.1\nCapital expenditures in accounts payable\t23.2\t39.4\nExpenditures for other investing activities included in accounts payable\t0.8\t16.2\n", "q10k_tbl_5": "(In millions except par value and shares)\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\nCurrent Assets\t\t\nCash and cash equivalents\t268.7\t282.5\nRestricted cash and cash equivalents\t0.2\t0.4\nTrade accounts receivable less allowance of $3.1 (2019-$13.3)\t239.8\t307.0\nInventories\t255.7\t309.9\nOther current assets\t69.2\t235.1\nTotal Current Assets\t833.6\t1134.9\nProperties and equipment net of accumulated depreciation and amortization of $1509.9 (2019-$1497.0)\t1156.5\t1143.8\nGoodwill\t559.0\t556.9\nTechnology and other intangible assets net\t326.3\t342.8\nDeferred income taxes\t555.8\t517.6\nInvestment in unconsolidated affiliate\t167.4\t181.9\nOther assets\t51.8\t54.7\nTotal Assets\t3650.4\t3932.6\nLIABILITIES AND EQUITY\t\t\nCurrent Liabilities\t\t\nDebt payable within one year\t18.8\t23.1\nAccounts payable\t210.2\t302.3\nOther current liabilities\t266.2\t419.7\nTotal Current Liabilities\t495.2\t745.1\nDebt payable after one year\t1985.6\t1957.3\nUnfunded defined benefit pension plans\t449.4\t434.6\nUnderfunded defined benefit pension plans\t83.1\t85.2\nOther liabilities\t316.6\t308.2\nTotal Liabilities\t3329.9\t3530.4\nCommitments and Contingencies-Note 8\t\t\nEquity\t\t\nCommon stock issued par value $0.01; 300000000 shares authorized; outstanding: 66190280 (2019-66735913)\t0.7\t0.7\nPaid-in capital\t470.4\t477.9\nRetained earnings\t712.1\t730.5\nTreasury stock at cost: shares: 11266353 (2019-10720720)\t(920.6)\t(892.2)\nAccumulated other comprehensive income (loss)\t53.9\t78.8\nTotal W. R. Grace & Co. Shareholders' Equity\t316.5\t395.7\nNoncontrolling interests\t4.0\t6.5\nTotal Equity\t320.5\t402.2\nTotal Liabilities and Equity\t3650.4\t3932.6\n", "q10k_tbl_6": "(In millions)\tCommon Stock and Paid-in Capital\tRetained Earnings\tTreasury Stock\tAccumulated Other Comprehensive Income (Loss)\tNoncontrolling Interests\tTotal Equity\nBalance December 31 2019\t478.6\t730.5\t(892.2)\t78.8\t6.5\t402.2\nNet income (loss)\t0\t42.0\t0\t0\t0.1\t42.1\nRepurchase of common stock\t0\t0\t(40.4)\t0\t0\t(40.4)\nPayments in consideration of employee tax obligations related to stock-based compensation\t(4.1)\t0\t0\t0\t0\t(4.1)\nStock-based compensation\t2.9\t0\t0\t0\t0\t2.9\nShares issued\t(10.3)\t0\t10.3\t0\t0\t0\nDividends declared\t0\t(20.2)\t0\t0\t0\t(20.2)\nOther comprehensive (loss) income\t0\t0\t0\t1.4\t0\t1.4\nBalance March 31 2020\t467.1\t752.3\t(922.3)\t80.2\t6.6\t383.9\nNet income (loss)\t0\t(7.3)\t0\t0\t(2.3)\t(9.6)\nStock-based compensation\t2.9\t0\t0\t0\t0\t2.9\nShares issued\t(0.7)\t0\t1.5\t0\t0\t0.8\nDividends declared\t0\t(20.0)\t0\t0\t0\t(20.0)\nOther comprehensive (loss) income\t0\t0\t0\t(8.4)\t0\t(8.4)\nBalance June 30 2020\t469.3\t725.0\t(920.8)\t71.8\t4.3\t349.6\nNet income (loss)\t0\t7.0\t0\t0\t(0.3)\t6.7\nStock-based compensation\t2.0\t0\t0\t0\t0\t2.0\nShares issued\t(0.2)\t0\t0.2\t0\t0\t0\nDividends declared\t0\t(19.9)\t0\t0\t0\t(19.9)\nOther comprehensive (loss) income\t0\t0\t0\t(17.9)\t0\t(17.9)\nBalance September 30 2020\t471.1\t712.1\t(920.6)\t53.9\t4.0\t320.5\n", "q10k_tbl_7": "(In millions)\tCommon Stock and Paid-in Capital\tRetained Earnings\tTreasury Stock\tAccumulated Other Comprehensive Income (Loss)\tNoncontrolling Interests\tTotal Equity\nBalance December 31 2018\t481.8\t676.7\t(895.5)\t67.9\t6.1\t337.0\nNet income (loss)\t0\t24.7\t0\t0\t(0.1)\t24.6\nRepurchase of common stock\t0\t0\t(4.8)\t0\t0\t(4.8)\nPayments in consideration of employee tax obligations related to stock-based compensation\t(4.3)\t0\t0\t0\t0\t(4.3)\nStock-based compensation\t1.9\t0\t0\t0\t0\t1.9\nExercise of stock options\t(2.2)\t0\t11.4\t0\t0\t9.2\nShares issued\t(7.4)\t0\t7.1\t0\t0\t(0.3)\nDividends declared\t0\t(18.1)\t0\t0\t0\t(18.1)\nOther comprehensive (loss) income\t0\t0\t0\t8.6\t0\t8.6\nBalance March 31 2019\t469.8\t683.3\t(881.8)\t76.5\t6.0\t353.8\nNet income (loss)\t0\t76.2\t0\t0\t0.2\t76.4\nRepurchase of common stock\t0\t0\t(25.0)\t0\t0\t(25.0)\nPayments in consideration of employee tax obligations related to stock-based compensation\t(0.6)\t0\t0\t0\t0\t(0.6)\nStock-based compensation\t3.7\t0\t0\t0\t0\t3.7\nExercise of stock options\t(2.4)\t0\t11.2\t0\t0\t8.8\nShares issued\t(0.5)\t0\t1.9\t0\t0\t1.4\nDividends declared\t0\t(18.2)\t0\t0\t0\t(18.2)\nOther comprehensive (loss) income\t0\t0\t0\t(13.0)\t0\t(13.0)\nBalance June 30 2019\t470.0\t741.3\t(893.7)\t63.5\t6.2\t387.3\nNet income (loss)\t0\t53.7\t0\t0\t0.1\t53.8\nStock-based compensation\t5.8\t0\t0\t0\t0\t5.8\nExercise of stock options\t(0.4)\t0\t1.5\t0\t0\t1.1\nDividends declared\t0\t(18.1)\t0\t0\t0\t(18.1)\nOther comprehensive (loss) income\t0\t0\t0\t21.8\t0\t21.8\nBalance September 30 2019\t475.4\t776.9\t(892.2)\t85.3\t6.3\t451.7\n", "q10k_tbl_8": "(In millions)\tSeptember 30 2020\tDecember 31 2019\nRaw materials\t58.6\t64.2\nIn process\t43.0\t55.7\nFinished products\t120.4\t154.4\nOther\t33.7\t35.6\nTotal inventory\t255.7\t309.9\n", "q10k_tbl_9": "(In millions)\tSeptember 30 2020\tDecember 31 2019\n2018 U.S. dollar term loan net of unamortized debt issuance costs of $6.3 (2019-$7.2)\t924.7\t930.9\nSenior notes due 2027 net of unamortized debt issuance costs of $10.5\t739.5\t0\nSenior notes due 2024 net of unamortized debt issuance costs of $2.0 (2019-$2.4)\t298.0\t297.6\nDebt payable to unconsolidated affiliate\t35.5\t47.4\nSenior notes due 2021 net of unamortized debt issuance costs (2019-$2.7)\t0\t697.3\nOther borrowings\t6.7\t7.2\nTotal debt\t2004.4\t1980.4\nLess debt payable within one year\t18.8\t23.1\nDebt payable after one year\t1985.6\t1957.3\nWeighted average interest rates on total debt\t3.4%\t3.8%\n", "q10k_tbl_10": "\t(In millions)\nRemainder of 2020\t6.6\n2021\t17.4\n2022\t16.1\n2023\t15.7\n2024\t313.1\nThereafter\t1635.5\nTotal debt\t2004.4\n", "q10k_tbl_11": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(In millions)\tCarrying Amount\tFair Value\tCarrying Amount\tFair Value\n2018 U.S. dollar term loan\t924.7\t906.6\t930.9\t938.1\nSenior notes due 2027\t739.5\t764.7\t0\t0\nSenior notes due 2024\t298.0\t317.4\t297.6\t329.2\nSenior notes due 2021\t0\t0\t697.3\t727.1\nOther borrowings\t42.2\t42.2\t54.6\t54.6\nTotal debt\t2004.4\t2030.9\t1980.4\t2049.0\n", "q10k_tbl_12": "\tFair Value Measurements at September 30 2020 Using\t\t\t\n(In millions)\tTotal\tQuoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nLiabilities\t\t\t\t\nCurrency derivatives\t7.0\t0\t7.0\t0\nInterest rate derivatives\t6.0\t0\t6.0\t0\nVariable-to-fixed cross-currency derivatives\t19.9\t0\t19.9\t0\nTotal Liabilities\t32.9\t0\t32.9\t0\n", "q10k_tbl_13": "\tFair Value Measurements at December 31 2019 Using\t\t\t\n(In millions)\tTotal\tQuoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nAssets\t\t\t\t\nCurrency derivatives\t6.1\t0\t6.1\t0\nVariable-to-fixed cross-currency derivatives\t3.4\t0\t3.4\t0\nTotal Assets\t9.5\t0\t9.5\t0\nLiabilities\t\t\t\t\nCurrency derivatives\t0.9\t0\t0.9\t0\nInterest rate derivatives\t3.4\t0\t3.4\t0\nTotal Liabilities\t4.3\t0\t4.3\t0\n", "q10k_tbl_14": "September 30 2020 (In millions)\tAsset Derivatives\t\tLiability Derivatives\t\nBalance Sheet Location\tFair Value\t\tBalance Sheet Location\tFair Value\nDerivatives designated as hedging instruments under ASC 815:\t\t\t\t\nCurrency contracts\tOther current assets\t0\tOther current assets\t(1.4)\nCurrency contracts\tOther assets\t0\tOther liabilities\t7.3\nInterest rate contracts\tOther current assets\t0\tOther current liabilities\t2.5\nInterest rate contracts\tOther assets\t0\tOther liabilities\t3.5\nVariable-to-fixed cross-currency swaps\tOther current assets\t0\tOther current assets\t(0.8)\nVariable-to-fixed cross-currency swaps\tOther assets\t0\tOther liabilities\t20.7\nDerivatives not designated as hedging instruments under ASC 815:\t\t\t\t\nCurrency contracts\tOther current assets\t0\tOther current liabilities\t1.1\nTotal derivatives\t\t0\t\t32.9\n", "q10k_tbl_15": "December 31 2019 (In millions)\tAsset Derivatives\t\tLiability Derivatives\t\nBalance Sheet Location\tFair Value\t\tBalance Sheet Location\tFair Value\nDerivatives designated as hedging instruments under ASC 815:\t\t\t\t\nCurrency contracts\tOther current assets\t2.1\tOther current assets\t(3.1)\nCurrency contracts\tOther assets\t4.0\tOther liabilities\t4.0\nInterest rate contracts\tOther current assets\t0\tOther current liabilities\t1.0\nInterest rate contracts\tOther assets\t0\tOther liabilities\t2.4\nVariable-to-fixed cross-currency swaps\tOther current assets\t10.2\tOther current liabilities\t0\nVariable-to-fixed cross-currency swaps\tOther liabilities\t(6.8)\tOther liabilities\t0\nDerivatives not designated as hedging instruments under ASC 815:\t\t\t\t\nCurrency contracts\tOther current assets\t0\tOther current assets\t(0.2)\nCurrency contracts\tOther current assets\t0\tOther current liabilities\t0.2\nTotal derivatives\t\t9.5\t\t4.3\n", "q10k_tbl_16": "Three Months Ended September 30 2020 (In millions)\tAmount of Gain (Loss) Recognized in OCI on Derivatives\tLocation of Gain (Loss) Reclassified from Accumulated OCI into Income\tAmount of Gain (Loss) Reclassified from OCI into Income\nDerivatives in ASC 815 cash flow hedging relationships:\t\t\t\nInterest rate contracts\t(0.3)\tInterest expense\t(0.6)\nVariable-to-fixed cross-currency swaps\t1.4\tInterest expense\t(0.1)\nVariable-to-fixed cross-currency swaps\t(22.0)\tOther expense\t(22.0)\nTotal derivatives\t(20.9)\t\t(22.7)\n\t\tLocation of Gain (Loss) Recognized in Income on Derivatives\tAmount of Gain (Loss) Recognized in Income on Derivatives\nDerivatives not designated as hedging instruments under ASC 815:\t\t\t\nCurrency contracts\t\tOther expense\t(1.4)\n", "q10k_tbl_17": "Nine Months Ended September 30 2020 (In millions)\tAmount of Gain (Loss) Recognized in OCI on Derivatives\tLocation of Gain (Loss) Reclassified from Accumulated OCI into Income\tAmount of Gain (Loss) Reclassified from OCI into Income\nDerivatives in ASC 815 cash flow hedging relationships:\t\t\t\nInterest rate contracts\t(3.8)\tInterest expense\t(1.2)\nCurrency contracts(1)\t2.7\tOther expense\t3.2\nVariable-to-fixed cross-currency swaps\t7.1\tInterest expense\t4.2\nVariable-to-fixed cross-currency swaps\t(24.6)\tOther expense\t(24.6)\nTotal derivatives\t(18.6)\t\t(18.4)\n\t\tLocation of Gain (Loss) Recognized in Income on Derivatives\tAmount of Gain (Loss) Recognized in Income on Derivatives\nDerivatives not designated as hedging instruments under ASC 815:\t\t\t\nCurrency contracts\t\tOther expense\t(2.2)\n", "q10k_tbl_18": "Three Months Ended September 30 2019 (In millions)\tAmount of Gain (Loss) Recognized in OCI on Derivatives\tLocation of Gain (Loss) Reclassified from Accumulated OCI into Income\tAmount of Gain (Loss) Reclassified from OCI into Income\nDerivatives in ASC 815 cash flow hedging relationships:\t\t\t\nInterest rate contracts\t(0.5)\tInterest expense\t(0.2)\nCurrency contracts(1)\t3.8\tOther expense\t3.8\nVariable-to-fixed cross-currency swaps\t2.5\tInterest expense\t3.2\nVariable-to-fixed cross-currency swaps\t22.3\tOther expense\t22.3\nTotal derivatives\t28.1\t\t29.1\n\t\tLocation of Gain (Loss) Recognized in Income on Derivatives\tAmount of Gain (Loss) Recognized in Income on Derivatives\nDerivatives not designated as hedging instruments under ASC 815:\t\t\t\nCurrency contracts\t\tOther expense\t(1.2)\n", "q10k_tbl_19": "Nine Months Ended September 30 2019 (In millions)\tAmount of Gain (Loss) Recognized in OCI on Derivatives\tLocation of Gain (Loss) Reclassified from Accumulated OCI into Income\tAmount of Gain (Loss) Reclassified from OCI into Income\nDerivatives in ASC 815 cash flow hedging relationships:\t\t\t\nInterest rate contracts\t(3.4)\tInterest expense\t(0.2)\nCurrency contracts(1)\t4.6\tOther expense\t3.8\nVariable-to-fixed cross-currency swaps\t0.4\tInterest expense\t10.4\nVariable-to-fixed cross-currency swaps\t25.3\tOther expense\t25.3\nTotal derivatives\t26.9\t\t39.3\n\t\tLocation of Gain (Loss) Recognized in Income on Derivatives\tAmount of Gain (Loss) Recognized in Income on Derivatives\nDerivatives not designated as hedging instruments under ASC 815:\t\t\t\nCurrency contracts\t\tOther expense\t(1.1)\n", "q10k_tbl_20": "\tThree Months Ended September 30\t\t\t\n\t2020\t\t2019\t\n(In millions)\tInterest expense\tOther income (expense)\tInterest expense\tOther income (expense)\nTotal amounts of income and expense line items in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded\t(19.8)\t(5.3)\t(18.6)\t1.1\nGain (loss) on cash flow hedging relationships in ASC 815\t\t\t\t\nInterest rate contracts\t\t\t\t\nGain (loss) reclassified from accumulated OCI into income\t(0.6)\t0\t(0.2)\t0\nVariable-to-fixed cross-currency swaps\t\t\t\t\nGain (loss) reclassified from accumulated OCI into income\t(0.1)\t(22.0)\t3.2\t22.3\nCurrency contracts\t\t\t\t\nGain (loss) reclassified from accumulated OCI into income\t0\t0\t0\t3.8\nAmount excluded from effectiveness testing recognized in earnings based on amortization approach (included in above)\t0\t0\t0\t0.7\n", "q10k_tbl_21": "\tNine Months Ended September 30\t\t\t\n\t2020\t\t2019\t\n(In millions)\tInterest expense\tOther income (expense)\tInterest expense\tOther income (expense)\nTotal amounts of income and expense line items in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded\t(57.3)\t12.1\t(58.2)\t3.2\nGain (loss) on cash flow hedging relationships in ASC 815\t\t\t\t\nInterest rate contracts\t\t\t\t\nGain (loss) reclassified from accumulated OCI into income\t(1.2)\t0\t(0.2)\t0\nVariable-to-fixed cross-currency swaps\t\t\t\t\nGain (loss) reclassified from accumulated OCI into income\t4.2\t(24.6)\t10.4\t25.3\nCurrency contracts\t\t\t\t\nGain (loss) reclassified from accumulated OCI into income\t0\t3.2\t0\t3.8\nAmount excluded from effectiveness testing recognized in earnings based on amortization approach (included in above)\t0\t1.1\t0\t2.1\n", "q10k_tbl_22": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nDerivatives in ASC 815 net investment hedging relationships:\t\t\t\t\nCross-currency swap\t(8.1)\t8.1\t(5.7)\t12.4\n", "q10k_tbl_23": "(In millions)\tSeptember 30 2020\tDecember 31 2019\nOverfunded defined benefit pension plans\t9.5\t8.5\nUnderfunded defined benefit pension plans\t(83.1)\t(85.2)\nUnfunded defined benefit pension plans\t(449.4)\t(434.6)\nTotal underfunded and unfunded defined benefit pension plans\t(532.5)\t(519.8)\nPension liabilities included in other current liabilities\t(15.1)\t(14.8)\nNet funded status\t(538.1)\t(526.1)\n", "q10k_tbl_24": "\tThree Months Ended September 30\t\t\t\n\t2020\t\t2019\t\n(In millions)\tU.S.\tNon-U.S.\tU.S.\tNon-U.S.\nService cost\t4.8\t2.8\t3.9\t2.2\nInterest cost\t7.5\t1.1\t9.6\t1.4\nExpected return on plan assets\t(12.1)\t(0.3)\t(12.1)\t(0.3)\nAmortization of prior service credit\t(0.2)\t0\t(0.2)\t0\nNet periodic benefit cost (income)\t0\t3.6\t1.2\t3.3\n", "q10k_tbl_25": "\tNine Months Ended September 30\t\t\t\n\t2020\t\t2019\t\n(In millions)\tU.S.\tNon-U.S.\tU.S.\tNon-U.S.\nService cost\t14.2\t8.2\t11.8\t6.5\nInterest cost\t22.6\t3.1\t28.7\t4.1\nExpected return on plan assets\t(36.2)\t(0.8)\t(36.2)\t(0.7)\nAmortization of prior service credit\t(0.5)\t0\t(0.5)\t0\nNet periodic benefit cost (income)\t0.1\t10.5\t3.8\t9.9\n", "q10k_tbl_26": "(In millions)\tSeptember 30 2020\tDecember 31 2019\nOther Current Assets\t\t\nNon-trade accounts receivable\t29.9\t24.1\nIncome taxes receivable\t5.8\t4.2\nFair value of currency interest rate and commodity contracts (see Note 4)\t2.9\t15.6\nPlant under construction-unconsolidated affiliate (see Note 15)\t0\t173.9\nOther current assets\t30.6\t17.3\n\t69.2\t235.1\n", "q10k_tbl_27": "(In millions)\tSeptember 30 2020\tDecember 31 2019\nOther Current Liabilities\t\t\nAccrued compensation\t56.3\t53.6\nDeferred revenue (see Note 13)\t35.9\t35.0\nLiability for dam spillway replacement (see Note 8)\t20.0\t4.7\nEnvironmental contingencies (see Note 8)\t21.4\t17.8\nAccrued interest (see Note 3)\t18.2\t13.3\nPension liabilities (see Note 6)\t15.1\t14.8\nOperating lease liabilities\t9.7\t9.3\nIncome taxes payable (see Note 5)\t8.4\t8.6\nLiability to unconsolidated affiliate for plant under construction (see Note 15)\t0\t173.9\nOther accrued liabilities\t81.2\t88.7\n\t266.2\t419.7\n", "q10k_tbl_28": "(In millions)\tSeptember 30 2020\tDecember 31 2019\nOther Liabilities\t\t\nEnvironmental contingencies (see Note 8)\t89.3\t97.5\nLiability for dam spillway replacement (see Note 8)\t69.9\t61.7\nFair value of currency and interest rate contracts (see Note 4)\t31.5\t13.2\nOperating lease liabilities\t25.5\t26.2\nLegacy product liability (see Note 8)\t24.0\t24.0\nDeferred revenue (see Note 13)\t21.9\t29.5\nRetained obligations of divested businesses\t12.4\t12.7\nAsset retirement obligations\t9.5\t9.4\nDeferred income taxes\t8.0\t7.5\nUnrecognized tax benefits\t3.9\t4.1\nOther noncurrent liabilities\t20.7\t22.4\n\t316.6\t308.2\n", "q10k_tbl_29": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nCatalysts Technologies\t0\t0.1\t2.8\t2.2\nMaterials Technologies\t(0.1)\t0\t0.2\t1.2\nCorporate\t0\t0.1\t0\t(0.2)\nTotal restructuring expenses\t(0.1)\t0.2\t3.0\t3.2\n", "q10k_tbl_30": "\t(In millions)\nBalance December 31 2019\t3.8\nAccruals for severance and other costs\t3.0\nPayments\t(2.2)\nBalance September 30 2020\t4.6\n", "q10k_tbl_31": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nBusiness interruption insurance recoveries\t0\t0\t(16.3)\t0\nDefined benefit pension (income) expense other than service cost\t(4.0)\t(1.6)\t(11.8)\t(4.6)\nHurricane-related costs\t10.6\t0\t10.6\t0\nThird-party acquisition-related costs\t0.3\t1.4\t3.8\t2.7\nNet (gain) loss on sales of investments and disposals of assets\t1.0\t1.0\t3.6\t2.4\nCurrency transaction effects\t1.6\t0.1\t(0.4)\t(0.7)\nOther miscellaneous (income) expense\t(4.2)\t(2.0)\t(1.6)\t(3.0)\nTotal other (income) expense net\t5.3\t(1.1)\t(12.1)\t(3.2)\n", "q10k_tbl_32": "Three Months Ended September 30 2020 (In millions)\tPre-Tax Amount\tTax Benefit/ (Expense)\tAfter-Tax Amount\nCurrency translation adjustments\t(22.7)\t1.8\t(20.9)\nGain (loss) from hedging activities\t4.0\t(1.0)\t3.0\nOther comprehensive income (loss) attributable to W. R. Grace & Co. shareholders\t(18.7)\t0.8\t(17.9)\n", "q10k_tbl_33": "Nine Months Ended September 30 2020 (In millions)\tPre-Tax Amount\tTax Benefit/ (Expense)\tAfter-Tax Amount\nAmortization of net prior service credit included in net periodic benefit cost and other costs (credits) net\t(0.2)\t0\t(0.2)\nCurrency translation adjustments\t(27.2)\t1.3\t(25.9)\nGain (loss) from hedging activities\t2.0\t(0.8)\t1.2\nOther comprehensive income (loss) attributable to W. R. Grace & Co. shareholders\t(25.4)\t0.5\t(24.9)\n", "q10k_tbl_34": "Three Months Ended September 30 2019 (In millions)\tPre-Tax Amount\tTax Benefit/ (Expense)\tAfter-Tax Amount\nAmortization of net prior service credit included in net periodic benefit cost and other costs (credits) net\t(0.1)\t0\t(0.1)\nCurrency translation adjustments\t24.2\t(1.8)\t22.4\nGain (loss) from hedging activities\t(0.7)\t0.2\t(0.5)\nOther comprehensive income (loss) attributable to W. R. Grace & Co. shareholders\t23.4\t(1.6)\t21.8\n", "q10k_tbl_35": "Nine Months Ended September 30 2019 (In millions)\tPre-Tax Amount\tTax Benefit/ (Expense)\tAfter-Tax Amount\nAmortization of net prior service credit included in net periodic benefit cost and other costs (credits) net\t(0.4)\t0.1\t(0.3)\nCurrency translation adjustments\t30.2\t(2.9)\t27.3\nGain (loss) from hedging activities\t(13.7)\t4.1\t(9.6)\nOther comprehensive income (loss) attributable to W. R. Grace & Co. shareholders\t16.1\t1.3\t17.4\n", "q10k_tbl_36": "Nine Months Ended September 30 2020 (In millions)\tDefined Benefit Pension and Other Postretirement Plans\tCurrency Translation Adjustments\tGain (Loss) from Hedging Activities\tTotal\nBalance December 31 2019\t(0.5)\t92.7\t(13.4)\t78.8\nOther comprehensive income (loss) before reclassifications\t0\t(25.9)\t(10.6)\t(36.5)\nAmounts reclassified from accumulated other comprehensive income (loss)\t(0.2)\t0\t11.8\t11.6\nNet current-period other comprehensive income (loss)\t(0.2)\t(25.9)\t1.2\t(24.9)\nBalance September 30 2020\t(0.7)\t66.8\t(12.2)\t53.9\n", "q10k_tbl_37": "Nine Months Ended September 30 2019 (In millions)\tDefined Benefit Pension and Other Postretirement Plans\tCurrency Translation Adjustments\tGain (Loss) from Hedging Activities\tTotal\nBalance December 31 2018\t0.2\t76.2\t(8.5)\t67.9\nOther comprehensive income (loss) before reclassifications\t0\t27.3\t18.9\t46.2\nAmounts reclassified from accumulated other comprehensive income (loss)\t(0.3)\t0\t(28.5)\t(28.8)\nNet current-period other comprehensive income (loss)\t(0.3)\t27.3\t(9.6)\t17.4\nBalance September 30 2019\t(0.1)\t103.5\t(18.1)\t85.3\n", "q10k_tbl_38": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions except per share amounts)\t2020\t2019\t2020\t2019\nNumerators\t\t\t\t\nNet income (loss) attributable to W. R. Grace & Co. shareholders\t7.0\t53.7\t41.7\t154.6\nDenominators\t\t\t\t\nWeighted average common shares-basic calculation\t66.2\t66.7\t66.3\t66.8\nDilutive effect of employee stock options\t0\t0.1\t0\t0.1\nWeighted average common shares-diluted calculation\t66.2\t66.8\t66.3\t66.9\nBasic earnings per share\t0.11\t0.81\t0.63\t2.31\nDiluted earnings per share\t0.11\t0.80\t0.63\t2.31\n", "q10k_tbl_39": "Three Months Ended September 30 2020 (In millions)\tNorth America\tEurope Middle East Africa (EMEA)\tAsia Pacific\tLatin America\tTotal\nRefining Catalysts\t46.0\t74.9\t21.0\t6.6\t148.5\nPolyolefin and Chemical Catalysts\t42.1\t58.3\t52.3\t4.5\t157.2\nTotal Catalysts Technologies\t88.1\t133.2\t73.3\t11.1\t305.7\nPharma/Consumer\t15.8\t12.3\t5.1\t5.4\t38.6\nCoatings\t6.2\t16.4\t9.8\t2.9\t35.3\nChemical process\t7.4\t16.7\t9.4\t1.0\t34.5\nOther\t1.1\t4.1\t0.1\t0\t5.3\nTotal Materials Technologies\t30.5\t49.5\t24.4\t9.3\t113.7\nTotal Grace\t118.6\t182.7\t97.7\t20.4\t419.4\n", "q10k_tbl_40": "Nine Months Ended September 30 2020 (In millions)\tNorth America\tEMEA\tAsia Pacific\tLatin America\tTotal\nRefining Catalysts\t150.8\t209.0\t85.7\t20.8\t466.3\nPolyolefin and Chemical Catalysts\t124.0\t167.2\t153.6\t11.6\t456.4\nTotal Catalysts Technologies\t274.8\t376.2\t239.3\t32.4\t922.7\nPharma/Consumer\t45.4\t39.3\t16.4\t14.6\t115.7\nCoatings\t19.1\t48.9\t27.1\t6.6\t101.7\nChemical process\t21.9\t50.9\t27.6\t4.9\t105.3\nOther\t3.0\t10.9\t0.3\t0\t14.2\nTotal Materials Technologies\t89.4\t150.0\t71.4\t26.1\t336.9\nTotal Grace\t364.2\t526.2\t310.7\t58.5\t1259.6\n", "q10k_tbl_41": "Three Months Ended September 30 2019 (In millions)\tNorth America\tEMEA\tAsia Pacific\tLatin America\tTotal\nRefining Catalysts\t69.9\t70.3\t48.1\t7.6\t195.9\nPolyolefin and Chemical Catalysts\t41.7\t71.6\t48.6\t3.6\t165.5\nTotal Catalysts Technologies\t111.6\t141.9\t96.7\t11.2\t361.4\nPharma/Consumer\t8.8\t12.6\t5.0\t4.8\t31.2\nCoatings\t6.0\t16.5\t8.4\t2.8\t33.7\nChemical process\t10.1\t21.1\t7.2\t1.1\t39.5\nOther\t1.0\t3.5\t0.2\t0\t4.7\nTotal Materials Technologies\t25.9\t53.7\t20.8\t8.7\t109.1\nTotal Grace\t137.5\t195.6\t117.5\t19.9\t470.5\n", "q10k_tbl_42": "Nine Months Ended September 30 2019 (In millions)\tNorth America\tEMEA\tAsia Pacific\tLatin America\tTotal\nRefining Catalysts\t214.0\t210.6\t133.9\t27.5\t586.0\nPolyolefin and Chemical Catalysts\t140.3\t222.7\t145.6\t12.2\t520.8\nTotal Catalysts Technologies\t354.3\t433.3\t279.5\t39.7\t1106.8\nPharma/Consumer\t30.7\t45.4\t15.4\t14.5\t106.0\nCoatings\t20.0\t53.8\t26.9\t6.8\t107.5\nChemical process\t28.2\t60.7\t23.0\t4.8\t116.7\nOther\t4.7\t11.1\t0.6\t0.2\t16.6\nTotal Materials Technologies\t83.6\t171.0\t65.9\t26.3\t346.8\nTotal Grace\t437.9\t604.3\t345.4\t66.0\t1453.6\n", "q10k_tbl_43": "(In millions)\tSeptember 30 2020\tDecember 31 2019\nCurrent\t35.9\t35.0\nNoncurrent\t21.9\t29.5\nTotal\t57.8\t64.5\n", "q10k_tbl_44": "Year\tApproximate percentage of revenue related to remaining performance obligations recognized\nRemainder of 2020\t6%\n2021\t26%\n2022\t21%\n2023\t15%\nThereafter through 2030\t32%\n", "q10k_tbl_45": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nNet Sales\t\t\t\t\nCatalysts Technologies\t305.7\t361.4\t922.7\t1106.8\nMaterials Technologies\t113.7\t109.1\t336.9\t346.8\nTotal\t419.4\t470.5\t1259.6\t1453.6\nAdjusted EBIT\t\t\t\t\nCatalysts Technologies segment operating income\t67.1\t105.1\t220.8\t332.6\nMaterials Technologies segment operating income\t24.3\t26.1\t55.9\t74.2\nCorporate costs\t(18.2)\t(18.5)\t(50.5)\t(52.7)\nCertain pension costs\t(3.6)\t(4.5)\t(10.2)\t(13.9)\nTotal\t69.6\t108.2\t216.0\t340.2\n", "q10k_tbl_46": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nGrace Adjusted EBIT\t69.6\t108.2\t216.0\t340.2\nLoss on early extinguishment of debt\t(39.4)\t0\t(39.4)\t0\nCosts related to legacy matters\t(30.6)\t(3.7)\t(36.1)\t(52.1)\nRestructuring and repositioning expenses attributable to W. R. Grace & Co. shareholders(1)\t(2.4)\t(3.4)\t(26.5)\t(12.1)\nInventory write-offs(2)\t(0.1)\t0\t(19.8)\t(3.6)\nThird-party acquisition-related costs\t(0.3)\t(1.4)\t(3.8)\t(2.7)\nTaxes and interest included in equity in earnings of unconsolidated affiliate\t(0.4)\t(0.4)\t(0.6)\t(1.3)\nInterest expense net\t(19.6)\t(18.3)\t(56.2)\t(56.8)\nNet income (loss) attributable to noncontrolling interests\t(0.3)\t0.1\t(2.5)\t0.2\nIncome (loss) before income taxes\t(23.5)\t81.1\t31.1\t211.8\n", "q10k_tbl_47": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nNet Sales\t\t\t\t\nUnited States\t108.7\t124.1\t329.9\t395.9\nCanada\t9.9\t13.4\t34.3\t42.0\nTotal North America\t118.6\t137.5\t364.2\t437.9\nEurope Middle East Africa\t182.7\t195.6\t526.2\t604.3\nAsia Pacific\t97.7\t117.5\t310.7\t345.4\nLatin America\t20.4\t19.9\t58.5\t66.0\nTotal\t419.4\t470.5\t1259.6\t1453.6\n", "q10k_tbl_48": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nOperating income\t2.8\t4.4\t8.4\t15.6\nDepreciation and amortization\t(1.1)\t(0.2)\t(1.9)\t(0.4)\nInterest expense and income taxes\t(0.4)\t(0.4)\t(0.6)\t(1.3)\nEquity in earnings of unconsolidated affiliate\t1.3\t3.8\t5.9\t13.9\n", "q10k_tbl_49": "(In millions)\tSeptember 30 2020\tDecember 31 2019\nSummary Balance Sheet information:\t\t\nCurrent assets\t270.4\t300.7\nNoncurrent assets\t248.3\t237.8\nTotal assets\t518.7\t538.5\nCurrent liabilities\t185.8\t177.1\nNoncurrent liabilities\t0.3\t0.3\nTotal liabilities\t186.1\t177.4\n", "q10k_tbl_50": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nSummary Statement of Operations information:\t\t\t\t\nNet sales\t109.9\t125.7\t309.6\t357.2\nCosts and expenses applicable to net sales\t100.0\t113.3\t281.1\t312.8\nIncome before income taxes\t3.1\t8.1\t13.4\t30.6\nNet income\t2.8\t7.6\t11.9\t28.8\n", "q10k_tbl_51": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nProduct manufactured for ART\t63.4\t64.1\t194.7\t190.2\nMark-up on product manufactured for ART included as a reduction of Grace's cost of goods sold\t1.2\t1.2\t3.8\t3.7\nCharges for fixed costs; research and development; selling general and administrative services; and depreciation to ART\t13.1\t12.4\t40.5\t38.0\n", "q10k_tbl_52": "(in millions)\tSeptember 30 2020\tDecember 31 2019\nTrade accounts receivable\t23.9\t17.5\nOther current assets\t10.0\t173.9\nAccounts payable\t23.5\t37.7\nDebt payable within one year\t4.8\t9.9\nDebt payable after one year\t30.7\t37.5\nOther current liabilities\t0\t173.9\n", "q10k_tbl_53": "Analysis of Operations (In millions except per share amounts)\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n2020\t\t2019\t% Change\t2020\t2019\t% Change\nNet sales:\t\t\t\t\t\t\nCatalysts Technologies\t305.7\t361.4\t(15.4)%\t922.7\t1106.8\t(16.6)%\nMaterials Technologies\t113.7\t109.1\t4.2%\t336.9\t346.8\t(2.9)%\nTotal Grace net sales\t419.4\t470.5\t(10.9)%\t1259.6\t1453.6\t(13.3)%\nNet sales by region:\t\t\t\t\t\t\nNorth America\t118.6\t137.5\t(13.7)%\t364.2\t437.9\t(16.8)%\nEurope Middle East Africa\t182.7\t195.6\t(6.6)%\t526.2\t604.3\t(12.9)%\nAsia Pacific\t97.7\t117.5\t(16.9)%\t310.7\t345.4\t(10.0)%\nLatin America\t20.4\t19.9\t2.5%\t58.5\t66.0\t(11.4)%\nTotal net sales by region\t419.4\t470.5\t(10.9)%\t1259.6\t1453.6\t(13.3)%\nPerformance measures:\t\t\t\t\t\t\nAdjusted EBIT(A):\t\t\t\t\t\t\nCatalysts Technologies segment operating income\t67.1\t105.1\t(36.2)%\t220.8\t332.6\t(33.6)%\nMaterials Technologies segment operating income\t24.3\t26.1\t(6.9)%\t55.9\t74.2\t(24.7)%\nCorporate costs\t(18.2)\t(18.5)\t1.6%\t(50.5)\t(52.7)\t4.2%\nCertain pension costs(B)\t(3.6)\t(4.5)\t20.0%\t(10.2)\t(13.9)\t26.6%\nAdjusted EBIT\t69.6\t108.2\t(35.7)%\t216.0\t340.2\t(36.5)%\nLoss on early extinguishment of debt\t(39.4)\t0\t\t(39.4)\t0\t\nCosts related to legacy matters\t(30.6)\t(3.7)\t\t(36.1)\t(52.1)\t\nRestructuring and repositioning expenses attributable to W. R. Grace & Co. shareholders(C)\t(2.4)\t(3.4)\t\t(26.5)\t(12.1)\t\nInventory write-offs(D)\t(0.1)\t0\t\t(19.8)\t(3.6)\t\nThird-party acquisition-related costs\t(0.3)\t(1.4)\t\t(3.8)\t(2.7)\t\nTaxes and interest included in equity in earnings of unconsolidated affiliate\t(0.4)\t(0.4)\t\t(0.6)\t(1.3)\t\nInterest expense net\t(19.6)\t(18.3)\t(7.1)%\t(56.2)\t(56.8)\t1.1%\n(Provision for) benefit from income taxes\t30.2\t(27.3)\t210.6%\t8.1\t(57.0)\t114.2%\nNet income (loss) attributable to W. R. Grace & Co. shareholders\t7.0\t53.7\t(87.0)%\t41.7\t154.6\t(73.0)%\nDiluted EPS\t0.11\t0.80\t(86.3)%\t0.63\t2.31\t(72.7)%\nAdjusted EPS\t0.56\t0.98\t(42.9)%\t1.76\t3.07\t(42.7)%\n", "q10k_tbl_54": "Analysis of Operations (In millions)\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n2020\t\t2019\t% Change\t2020\t2019\t% Change\nAdjusted performance measures:\t\t\t\t\t\t\nGross Margin:\t\t\t\t\t\t\nCatalysts Technologies\t39.2%\t42.0%\t(280) bps\t38.8%\t42.8%\t(400) bps\nMaterials Technologies\t35.7%\t38.6%\t(290) bps\t31.9%\t37.0%\t(510) bps\nAdjusted Gross Margin\t38.2%\t41.2%\t(300) bps\t37.0%\t41.4%\t(440) bps\nInventory write-offs(D)\t-%\t-%\t0 bps\t(1.6)%\t(0.3)%\t(130) bps\nPension costs in cost of goods sold\t(0.9)%\t(0.6)%\t(30) bps\t(0.8)%\t(0.6)%\t(20) bps\nTotal Grace\t37.3%\t40.6%\t(330) bps\t34.6%\t40.5%\t(590) bps\nAdjusted EBIT:\t\t\t\t\t\t\nCatalysts Technologies\t67.1\t105.1\t(36.2)%\t220.8\t332.6\t(33.6)%\nMaterials Technologies\t24.3\t26.1\t(6.9)%\t55.9\t74.2\t(24.7)%\nCorporate pension and other\t(21.8)\t(23.0)\t5.2%\t(60.7)\t(66.6)\t8.9%\nTotal Grace\t69.6\t108.2\t(35.7)%\t216.0\t340.2\t(36.5)%\nDepreciation and amortization:\t\t\t\t\t\t\nCatalysts Technologies depreciation and amortization\t21.5\t20.7\t3.9%\t62.8\t61.4\t2.3%\nDepreciation and amortization included in equity in earnings of unconsolidated affiliate\t1.1\t0.2\tNM\t1.9\t0.4\tNM\nCatalysts Technologies\t22.6\t20.9\t8.1%\t64.7\t61.8\t4.7%\nMaterials Technologies\t3.6\t3.6\t-%\t10.7\t10.7\t-%\nCorporate\t1.2\t1.2\t-%\t3.6\t3.2\t12.5%\nAdjusted Depreciation and Amortization\t27.4\t25.7\t6.6%\t79.0\t75.7\t4.4%\nDepreciation and amortization included in equity in earnings of unconsolidated affiliate\t(1.1)\t(0.2)\tNM\t(1.9)\t(0.4)\tNM\nTotal Grace\t26.3\t25.5\t3.1%\t77.1\t75.3\t2.4%\nAdjusted EBITDA:\t\t\t\t\t\t\nCatalysts Technologies\t89.7\t126.0\t(28.8)%\t285.5\t394.4\t(27.6)%\nMaterials Technologies\t27.9\t29.7\t(6.1)%\t66.6\t84.9\t(21.6)%\nCorporate pension and other\t(20.6)\t(21.8)\t5.5%\t(57.1)\t(63.4)\t9.9%\nTotal Grace\t97.0\t133.9\t(27.6)%\t295.0\t415.9\t(29.1)%\nAdjusted EBIT margin:\t\t\t\t\t\t\nCatalysts Technologies\t21.9%\t29.1%\t(720) bps\t23.9%\t30.1%\t(620) bps\nMaterials Technologies\t21.4%\t23.9%\t(250) bps\t16.6%\t21.4%\t(480) bps\nTotal Grace\t16.6%\t23.0%\t(640) bps\t17.1%\t23.4%\t(630) bps\nNet income margin\t1.7%\t11.4%\t(970) bps\t3.3%\t10.6%\t(730) bps\nAdjusted EBITDA margin:\t\t\t\t\t\t\nCatalysts Technologies\t29.3%\t34.9%\t(560) bps\t30.9%\t35.6%\t(470) bps\nMaterials Technologies\t24.5%\t27.2%\t(270) bps\t19.8%\t24.5%\t(470) bps\nTotal Grace\t23.1%\t28.5%\t(540) bps\t23.4%\t28.6%\t(520) bps\n", "q10k_tbl_55": "Analysis of Operations (In millions)\tFour Quarters Ended September 30\t\n2020\t\t2019\nCalculation of Adjusted EBIT Return on Invested Capital (trailing four quarters):\t\t\nNet income (loss) attributable to W. R. Grace & Co. shareholders\t13.4\t223.7\nAdjusted EBIT\t350.3\t457.7\nReconciliation to Adjusted Invested Capital:\t\t\nTotal equity\t320.5\t451.7\nTotal debt\t2004.4\t1982.2\nUnderfunded and unfunded defined benefit pension plans\t532.5\t424.3\nLiabilities related to legacy matters\t225.7\t163.2\nCash cash equivalents and restricted cash\t(268.9)\t(218.9)\nIncome taxes net\t(541.3)\t(491.9)\nOther items\t25.9\t31.0\nAdjusted Invested Capital\t2298.8\t2341.6\nReturn on equity\t4.2%\t49.5%\nAdjusted EBIT Return on Invested Capital\t15.2%\t19.5%\n", "q10k_tbl_56": "\tThree Months Ended September 30 2020 as a Percentage Increase (Decrease) from Three Months Ended September 30 2019\t\t\t\nNet Sales Variance Analysis\tVolume\tPrice\tCurrency Translation\tTotal\nCatalysts Technologies)%\t(15.4\t(0.5)%\t0.5%\t(15.4)%\nMaterials Technologies%\t3.8\t-%\t0.4%\t4.2%\nNet sales)%\t(11.0\t(0.4)%\t0.5%\t(10.9)%\nBy Region:\t\t\t\t\nNorth America)%\t(12.5\t(1.2)%\t-%\t(13.7)%\nEurope Middle East Africa (EMEA))%\t(8.9\t0.4%\t1.9%\t(6.6)%\nAsia Pacific)%\t(16.9\t-%\t-%\t(16.9)%\nLatin America%\t12.6\t(3.6)%\t(6.5)%\t2.5%\n", "q10k_tbl_57": "\tNine Months Ended September 30 2020 as a Percentage Increase (Decrease) from Nine Months Ended September 30 2019\t\t\t\nNet Sales Variance Analysis\tVolume\tPrice\tCurrency Translation\tTotal\nCatalysts Technologies)%\t(17.2\t0.8%\t(0.2)%\t(16.6)%\nMaterials Technologies)%\t(2.1\t0.3%\t(1.1)%\t(2.9)%\nNet sales)%\t(13.6\t0.7%\t(0.4)%\t(13.3)%\nBy Region:\t\t\t\t\nNorth America)%\t(17.2\t0.4%\t-%\t(16.8)%\nEurope Middle East Africa)%\t(14.1\t1.7%\t(0.5)%\t(12.9)%\nAsia Pacific)%\t(9.4\t(0.5)%\t(0.1)%\t(10.0)%\nLatin America)%\t(6.9\t(0.7)%\t(3.8)%\t(11.4)%\n", "q10k_tbl_58": "\tThree Months Ended September 30\t\t\t\t\t\t\t\n\t2020\t\t\t\t2019\t\t\t\n(In millions except per share amounts)\tPre-Tax\tTax Effect\tAfter-Tax\tPer Share\tPre-Tax\tTax Effect\tAfter-Tax\tPer Share\nDiluted earnings per share\t\t\t\t0.11\t\t\t\t0.80\nLoss on early extinguishment of debt\t39.4\t9.8\t29.6\t0.45\t0\t0\t0\t0\nCosts related to legacy matters\t30.6\t8.3\t22.3\t0.34\t3.7\t0.9\t2.8\t0.04\nRestructuring and repositioning expenses attributable to W. R. Grace & Co. shareholders\t2.4\t2.4\t0\t0\t3.4\t1.1\t2.3\t0.03\nThird-party acquisition-related costs\t0.3\t0.3\t0\t0\t1.4\t0.3\t1.1\t0.02\nInventory write-offs\t0.1\t1.3\t(1.2)\t(0.02)\t0\t0\t0\t0\nDiscrete tax items\t\t21.0\t(21.0)\t(0.32)\t\t1.7\t(1.7)\t(0.03)\nIncome tax expense related to historical tax attributes(1)\t\t0\t0\t0\t\t(7.7)\t7.7\t0.12\nAdjusted EPS\t\t\t\t0.56\t\t\t\t0.98\n", "q10k_tbl_59": "\tNine Months Ended September 30\t\t\t\t\t\t\t\n\t2020\t\t\t\t2019\t\t\t\n(In millions except per share amounts)\tPre-Tax\tTax Effect\tAfter-Tax\tPer Share\tPre-Tax\tTax Effect\tAfter-Tax\tPer Share\nDiluted EPS\t\t\t\t0.63\t\t\t\t2.31\nLoss on early extinguishment of debt\t39.4\t9.8\t29.6\t0.45\t0\t0\t0\t0\nCosts related to legacy matters\t36.1\t9.3\t26.8\t0.40\t52.1\t14.1\t38.0\t0.57\nRestructuring and repositioning expenses attributable to W. R. Grace & Co. shareholders\t26.5\t5.3\t21.2\t0.32\t12.1\t2.7\t9.4\t0.14\nInventory write-offs\t19.8\t5.1\t14.7\t0.22\t3.6\t0\t3.6\t0.05\nThird-party acquisition-related costs\t3.8\t1.0\t2.8\t0.04\t2.7\t0.7\t2.0\t0.03\nDiscrete tax items\t\t20.1\t(20.1)\t(0.30)\t\t12.0\t(12.0)\t(0.18)\nIncome tax expense related to historical tax attributes(1)\t\t\t0\t0\t\t(10.0)\t10.0\t0.15\nAdjusted EPS\t\t\t\t1.76\t\t\t\t3.07\n", "q10k_tbl_60": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nWrite-off of plant engineering and site costs\t0\t0\t19.7\t0\nThird-party costs of manufacturing and business transformation programs\t0.8\t2.1\t4.6\t5.5\nCosts related to plant closures\t0\t0\t2.8\t0\nEmployee severance\t1.4\t1.3\t4.0\t5.2\nOther\t0.2\t0\t(2.1)\t1.4\nTotal restructuring and repositioning expenses\t2.4\t3.4\t29.0\t12.1\nLess: restructuring and repositioning expenses attributable to noncontrolling interest\t0\t0\t(2.5)\t0\nRestructuring and repositioning expenses attributable to W. R. Grace & Co. shareholders\t2.4\t3.4\t26.5\t12.1\n", "q10k_tbl_61": "(In millions)\tMaximum Borrowing Amount\tAvailable Liquidity\tExpiration Date\nSingapore\t18.0\t8.1\tApril 3 2023\nChina\t11.9\t10.5\tApril 3 2023\nUnited Arab Emirates\t11.0\t11.0\tDecember 31 2020\nOther countries\t21.3\t18.1\tApril 3 2023 as well as open-ended\nTotal\t62.2\t47.7\t\n", "q10k_tbl_62": "\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\nNet cash provided by (used for) operating activities\t259.1\t268.4\nNet cash provided by (used for) investing activities\t(153.7)\t(169.8)\nNet cash provided by (used for) financing activities\t(119.7)\t(77.4)\nEffect of currency exchange rate changes on cash cash equivalents and restricted cash\t0.3\t(3.3)\nNet increase (decrease) in cash cash equivalents and restricted cash\t(14.0)\t17.9\nCash cash equivalents and restricted cash beginning of period\t282.9\t201.0\nCash cash equivalents and restricted cash end of period\t268.9\t218.9\n", "q10k_tbl_63": "\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\nU.S. advance-funded plans\t0.5\t0.1\nU.S. pay-as-you-go plans\t6.1\t5.4\nNon-U.S. advance-funded plans\t1.0\t1.1\nNon-U.S. pay-as-you-go plans\t5.4\t5.7\nTotal cash contributions\t13.0\t12.3\n", "q10k_tbl_64": "\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\nU.S. defined contribution plan\t10.6\t10.4\nU.S. enhanced defined contribution plan\t2.6\t2.2\nTotal cash payments\t13.2\t12.6\n", "q10k_tbl_65": "Period\tTotal number of shares purchased (#)\tAverage price paid per share ($/share)\tTotal number of shares purchased as part of publicly announced plans or programs (#)\tApproximate dollar value of shares that may yet be purchased under the plans or programs ($ in millions)\n7/1/2020 - 7/31/2020\t0\t0\t0\t235.0\n8/1/2020 - 8/31/2020\t0\t0\t0\t235.0\n9/1/2020 - 9/30/2020\t0\t0\t0\t235.0\nTotal\t0\t0\t0\t\n", "q10k_tbl_66": "Exhibit No.\tDescription of Exhibit\tLocation\n3.1\tAmended and Restated Certificate of Incorporation\tExhibit 3.01 to Form 8-K (filed 2/07/14) SEC File No.: 001-13953\n3.2\tAmended and Restated By-laws\tExhibit 3.01 to Form 8-K (filed 1/23/15) SEC File No.: 001-13953\n4.1\tIndenture dated as of September 16 2014 by and among W. R. Grace & Co.-Conn. the guarantors party thereto and Wilmington Trust National Association as trustee.\tExhibit 4.1 to Form 8-K (filed 9/19/14) SEC File No.: 001-13953\n4.2\tThird Supplemental Indenture dated as of June 26 2020 by and among W. R. Grace & Co.-Conn. the guarantors party thereto and Wilmington Trust National Association as trustee.\tExhibit 4.2 to Form 8-K (filed 6/26/20) SEC File No.: 001-13953\n4.3\tForm of 4.875% Note due 2027 (included as Exhibit A to Exhibit 4.2).\tExhibit 4.3 to Form 8-K (filed 6/26/20) SEC File No.: 001-13953\n31(i).1\tCertification of Periodic Report by Principal Executive Officer under Section 302 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n31(i).2\tCertification of Periodic Report by Principal Financial Officer under Section 302 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n32\tCertification of Periodic Report by Principal Executive Officer and Principal Financial Officer under Section 906 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n95\tMine Safety Disclosure Exhibit\tFiled herewith\n", "q10k_tbl_67": "Exhibit No.\tDescription of Exhibit\tLocation\n101.INS\tInline XBRL Instance Document\tThe instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH\tInline XBRL Taxonomy Extension Schema\tFiled herewith\n101.CAL\tInline XBRL Taxonomy Extension Calculation Linkbase\tFiled herewith\n101.DEF\tInline XBRL Taxonomy Extension Definition Linkbase\tFiled herewith\n101.LAB\tInline XBRL Taxonomy Extension Label Linkbase\tFiled herewith\n101.PRE\tInline XBRL Taxonomy Extension Presentation Linkbase\tFiled herewith\n104\tCover Page Interactive Data File (formatted as Inline XBRL and included in Exhibit 101)\tFiled herewith\n"}{"bs": "q10k_tbl_5", "is": "q10k_tbl_2", "cf": "q10k_tbl_4"}None
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Note 8, "Commitments and Contingent Liabilities," To The Interim Consolidated Financial Statements in Part I of This Report Is Incorporated Herein By Reference.
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 2020
or
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission File Number 1-13953
W. R. GRACE & CO.
(Exact name of registrant as specified in its charter)
Delaware
65-0773649
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
7500 Grace Drive, Columbia, Maryland21044-4098
(Address of principal executive offices) (Zip Code)
(410)531-4000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value per share
GRA
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period 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-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☑
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Notes on references that we use in this Report. Unless the context indicates otherwise, the terms “Grace,” the “Company,” “we,” “us,” or “our” mean (i) W. R. Grace & Co. itself, or (ii) W. R. Grace & Co. and/or one or more of its consolidated subsidiaries and affiliates and, in certain cases, their respective predecessors. Unless otherwise indicated, the contents of websites that we mention are not incorporated by reference or otherwise made a part of this Report.
We refer to the U.S. Securities and Exchange Commission as the “SEC.” We refer to the Financial Accounting Standards Board as the “FASB.” The FASB issues, among other things, the Accounting Standards Codification (which we refer to as “ASC”) and Accounting Standards Updates (which we refer to as “ASU”). We refer to the U.S. Internal Revenue Service as the “IRS.”
Trademarks and other intellectual property that we discuss in this Report. GRACE®, the GRACE® logo (and any other use of the term “Grace” as a trade name) as well as the other trademarks, service marks, or trade names used in this Report are trademarks, service marks, or trade names of Grace or its operating units, except as otherwise indicated. ART® and ADVANCED REFINING TECHNOLOGIES® are trademarks, registered in the United States and/or other countries, of Advanced Refining Technologies LLC, a Delaware limited liability company, 50% owned by Grace and 50% owned by Chevron U.S.A. Inc.