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Quarterly Results Of Operations
 12 Months Ended
Dec. 31, 2011
Quarterly Results Of Operations [Abstract]  
Quarterly Results Of Operations

Note 20—Quarterly results of operations (unaudited):

 

     Quarter ended  
     March 31      June 30      Sept. 30      Dec. 31  
     (In millions, except per share data)  

Year ended December 31, 2010

            

Net sales

    $ 356.8       $ 415.7       $ 413.2       $ 407.0   

Gross margin

      66.1         89.4         100.1         107.2   

Operating income

      17.6         35.4         53.3         55.5   

Net income(1)

   $ 15.1       $ 6.4       $ 18.1       $ 24.2   

Net income attributable to Valhi stockholders (1)

     13.6         4.5         14.4         17.8   

Per basic share:

            

Net income attributable to Valhi stockholders

    $ .10       $ .04       $ .13       $ .15   

Year ended December 31, 2011

            

Net sales

    $ 455.7       $ 573.1       $ 584.1       $ 471.2   

Gross margin

      148.9         200.7         212.7         195.4   

Operating income

      103.3         139.8         150.2         137.2   

Net income(2)

   $ 53.2       $ 72.9       $ 93.1       $ 75.8   

Net income attributable to Valhi stockholders (2)

     38.0         52.4         71.5         55.6   

Per basic share:

            

Net income attributable to Valhi stockholders

    $ .33       $ .46       $ .63       $ .49   

 

(1) 

We recognized the following amounts during 2010:

  •  

a $24.4 million after noncontrolling interest non-cash income tax benefit in the first quarter, see Note 12;

  •  

a $17.4 million after-tax and noncontrolling interest charge as a result of a litigation settlement in the first quarter, see Notes 9 and 17;

  •  

a $9.8 million after-tax and noncontrolling interest gain in the first quarter for insurance settlement, see Notes 15 and 17;

  •  

a $3.5 million after-tax and noncontrolling interest gain in the third quarter as a result of a legal settlement, see Note 15; and

  •  

$4.4 million charge in the third quarter to our tax provision related to a net increase in our reserves for uncertain tax positions, see Note 12.

(2) 

We recognized the following amounts during 2011:

  •  

a $2.4 million after-tax and noncontrolling interest non-cash patent litigation settlement gain in the first quarter, see Note 17;

  •  

a $1.7 million after-tax and noncontrolling interest loss on the prepayment of debt in the first quarter, see Note 9;

  •  

a $8.7 million after-tax and noncontrolling interest gain in the third quarter for insurance settlement, see Note 15;

  •  

a $.9 million after-tax and noncontrolling interest charge in the third quarter as a result of an asset held for sale write-down, see Note 7; and

  •  

$8.4 million benefit in the third quarter to our tax provision related to a net decrease in our reserves for uncertain tax positions.

The sum of the quarterly per share amounts may not equal the annual per share amounts due to relative changes in the weighted average number of shares used in the per share computations.