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Business segment information
 3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Business segment information

Note 2—Business segment information:

 

Business segment

    Entity    % controlled at
March  31, 2013		  

Chemicals

    Kronos      80 % 

Component products

    CompX      87 % 

Waste management

    WCS      100 % 

Our control of Kronos includes 50% we hold directly and 30% held directly by NL. We own 83% of NL. Our control of CompX is through NL. At March 31, 2013 we had an aggregate of 12.0 million shares of our Kronos common stock pledged as collateral for certain debt obligations of Contran. We receive a fee from Contran for pledging these Kronos shares, determined by a formula based on the market value of the shares pledged.

 

     Three months ended
March  31,		  
     2012     2013  
     (In millions)  

Net sales:

     

Chemicals

    $ 561.3      $ 463.6   

Component products

      20.4        21.5   

Waste management

      1.1        14.1   
  

 

 

    

 

 

  

Total net sales

    $ 582.8      $ 499.2   
  

 

 

    

 

 

  

Cost of sales:

     

Chemicals

    $ 300.4      $ 460.3   

Component products

      14.4        15.5   

Waste management

      7.6        10.5   
  

 

 

    

 

 

  

Total cost of sales

    $ 322.4      $ 486.3   
  

 

 

    

 

 

  

Gross margin:

     

Chemicals

    $ 260.9      $ 3.3   

Component products

      6.0        6.0   

Waste management

      (6.5 )      3.6   
  

 

 

    

 

 

  

Total gross margin

    $ 260.4      $ 12.9   
  

 

 

    

 

 

  

Operating income (loss):

     

Chemicals

    $ 211.3      $ (45.1 ) 

Component products

      1.6        1.5   

Waste management

      (9.6 )      (1.6 ) 
  

 

 

    

 

 

  

Total operating income (loss)

      203.3        (45.2 ) 

Equity in earnings of investee

      .1        (.3 ) 

General corporate items:

     

Securities earnings

      7.1        6.6   

Insurance recoveries

      1.1        .6   

Loss on prepayment of debt

      —          (6.6 ) 

General expenses, net

      (20.3 )      (9.7 ) 

Interest expense

      (13.5 )      (15.4 ) 
  

 

 

    

 

 

  

Income(loss) from continuing operations before income taxes

    $ 177.8      $ (70.0 ) 
  

 

 

    

 

 

  

 

Segment results we report may differ from amounts separately reported by our various subsidiaries and affiliates due to purchase accounting adjustments and related amortization or differences in the way we define operating income. Intersegment sales are not material.