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Business Segment Information (Tables)
 9 Months Ended
Sep. 30, 2013
Holding Percentage of Subsidiaries

 

 

 

Business segment

  

Entity

  

% controlled at

September 30, 2013

 

Chemicals

  

Kronos

  

 

  80

%

Component products

  

CompX

  

 

  87

%

Waste management

  

WCS

  

 

  100

%

 
Segment Operating Performance

 

 

Three months ended

September 30,

 

 

Nine months ended

September 30,

 

 

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 investees

 

(.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

)