Our marketable securities consist of investments in the publicly-traded shares of related parties: Valhi, NL and CompX International Inc. NL owns the majority of CompX’s outstanding common stock. All of our marketable securities are accounted for as available-for-sale securities, which are carried at fair value using quoted market prices in active markets for each marketable security and represent a Level 1 input within the fair value hierarchy. Any unrealized gains or losses on the securities are recognized in Marketable equity securities on our Condensed Consolidated Statements of Income.

	Fair value
	measurement	Market		Cost
Marketable security	level	value		basis		Unrealized loss
		(In millions)
December 31, 2019:
Valhi common stock	1	$	3.2	$	3.2	$	-
NL and CompX common stocks	1		.1		.1		-
Total		$	3.3	$	3.3	$	-

September 30, 2020:
Valhi common stock	1	$	1.9	$	3.2	$	(1.3	)
NL and CompX common stocks	1		.1		.1		-
Total		$	2.0	$	3.3	$	(1.3	)

At December 31, 2019 and September 30, 2020, we held approximately 144,000 shares of Valhi’s common stock. At December 31, 2019 and September 30, 2020, the quoted per share market price of Valhi’s common stock was $22.44 and $13.16, respectively. Valhi implemented a reverse split of its common stock at a ratio of 1-for-12 effective on June 1, 2020. We have adjusted all share and per-share disclosures related to our investment in Valhi stock for all periods prior to June 2020 to give effect to the reverse stock split. The reverse stock split had no financial statement impact to us, and our ownership interest in Valhi did not change as a result of the split. We also held a nominal number of shares of CompX and NL common stocks at December 31, 2019 and September 30, 2020.

The Valhi, CompX and NL common stocks we own are subject to the restrictions on resale pursuant to certain provisions of SEC Rule 144. In addition, as a majority-owned subsidiary of Valhi we cannot vote our shares of Valhi common stock under Delaware General Corporation law, but we do receive dividends from Valhi on these shares when declared and paid.