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Business Segment Information | 9 Months Ended
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Sep. 30, 2013
Business Segment Information | Note 2—Business segment information:
Business segment |  | Entity |  | % controlled at September 30, 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 September 30, 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 September 30, |  |  | Nine months ended September 30, |
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| 2012 |  |  | 2013 |  |  | 2012 |  |  | 2013 |
| (In millions) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ |  | 472.9 |  |  | $ |  | 419.1 |  |  | $ |  | 1,579.5 |  |  | $ |  | 1,363.8 |
Component products |  | 21.4 |  |  |  | 24.2 |  |  |  | 63.9 |  |  |  | 69.7 |
Waste management |  | 14.5 |  |  |  | 4.9 |  |  |  | 16.5 |  |  |  | 29.9 |
Total net sales | $ |  | 508.8 |  |  | $ |  | 448.2 |  |  | $ |  | 1,659.9 |  |  | $ |  | 1,463.4 |
Cost of sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ |  | 387.5 |  |  | $ |  | 372.4 |  |  | $ |  | 1,070.5 |  |  | $ |  | 1,304.8 |
Component products |  | 15.1 |  |  |  | 16.7 |  |  |  | 45.1 |  |  |  | 48.6 |
Waste management |  | 8.7 |  |  |  | 10.5 |  |  |  | 24.4 |  |  |  | 31.3 |
Total cost of sales | $ |  | 411.3 |  |  | $ |  | 399.6 |  |  | $ |  | 1,140.0 |  |  | $ |  | 1,384.7 |
Gross margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ |  | 85.4 |  |  | $ |  | 46.7 |  |  | $ |  | 509.0 |  |  | $ |  | 59.0 |
Component products |  | 6.3 |  |  |  | 7.5 |  |  |  | 18.8 |  |  |  | 21.1 |
Waste management |  | 5.8 |  |  |  | (5.6 | ) |  |  | (7.9 | ) |  |  | (1.4 | )
Total gross margin | $ |  | 97.5 |  |  | $ |  | 48.6 |  |  | $ |  | 519.9 |  |  | $ |  | 78.7 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ |  | 40.4 |  |  | $ |  | (35.2 | ) |  | $ |  | 364.1 |  |  | $ |  | (125.6 | )
Component products |  | 1.7 |  |  |  | 3.0 |  |  |  | 5.4 |  |  |  | 7.4 |
Waste management |  | (1.0 | ) |  |  | (10.3 | ) |  |  | (21.9 | ) |  |  | (16.3 | )
Total operating income (loss) |  | 41.1 |  |  |  | (42.5 | ) |  |  | 347.6 |  |  |  | (134.5 | )
Equity in earnings of investee s |  | (.1 | ) |  |  | — |  |  |  | (.1 | ) |  |  | (.8 | )
General corporate items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities earnings |  | 7.3 |  |  |  | 6.6 |  |  |  | 21.5 |  |  |  | 19.9 |
Insurance recoveries |  | 1.2 |  |  |  | 2.2 |  |  |  | 2.6 |  |  |  | 3.8 |
Litigation settlement gain |  | — |  |  |  | — |  |  |  | 14.7 |  |  |  | — |
Loss on prepayment of debt |  | — |  |  |  | (2.3 | ) |  |  | (7.2 | ) |  |  | (8.9 | )
General expenses, net |  | (7.9 | ) |  |  | (10.1 | ) |  |  | (37.4 | ) |  |  | (41.4 | )
Interest expense |  | (14.6 | ) |  |  | (13.7 | ) |  |  | (42.4 | ) |  |  | (43.8 | )
Income (loss) from continuing operations before income taxes | $ |  | 27.0 |  |  | $ |  | (59.8 | ) |  | $ |  | 299.3 |  |  | $ |  | (205.7 | )
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. The operating loss of our Chemicals Segment for the third quarter and first nine months of 2013 includes a $35 million charge related to a litigation settlement, see Note 16.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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