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v3.19.2

Business Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Holding Percentage of Subsidiaries |
Business segment |  | Entity |  | % controlled at June 30, 2019 |
Chemicals |  | Kronos |  | 80 | %
Component products |  | CompX |  | 86 | %
Real estate management and development |  | BMI and LandWell |  | 63% - 77 | %
Segment Operating Performance |
| Three months ended June 30, |  |  | Six months ended June 30, |
| 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |
| (unaudited) |
| (In millions) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 471.8 |  |  | $ | 484.5 |  |  | $ | 902.2 |  |  | $ | 921.0 |
Component products |  | 32.4 |  |  |  | 33.7 |  |  |  | 60.8 |  |  |  | 64.9 |
Real estate management and development |  | 6.0 |  |  |  | 10.4 |  |  |  | 13.2 |  |  |  | 22.3 |
Total net sales | $ | 510.2 |  |  | $ | 528.6 |  |  | $ | 976.2 |  |  | $ | 1,008.2 |
Cost of sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 300.5 |  |  | $ | 375.4 |  |  | $ | 556.6 |  |  | $ | 703.1 |
Component products |  | 21.2 |  |  |  | 22.8 |  |  |  | 40.1 |  |  |  | 44.3 |
Real estate management and development |  | 4.5 |  |  |  | 7.2 |  |  |  | 10.2 |  |  |  | 15.8 |
Total cost of sales | $ | 326.2 |  |  | $ | 405.4 |  |  | $ | 606.9 |  |  | $ | 763.2 |
Gross margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 171.3 |  |  | $ | 109.1 |  |  | $ | 345.6 |  |  | $ | 217.9 |
Component products |  | 11.2 |  |  |  | 10.9 |  |  |  | 20.7 |  |  |  | 20.6 |
Real estate management and development |  | 1.5 |  |  |  | 3.2 |  |  |  | 3.0 |  |  |  | 6.5 |
Total gross margin | $ | 184.0 |  |  | $ | 123.2 |  |  | $ | 369.3 |  |  | $ | 245.0 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 123.6 |  |  | $ | 50.5 |  |  | $ | 234.2 |  |  | $ | 103.3 |
Component products |  | 6.0 |  |  |  | 5.6 |  |  |  | 10.4 |  |  |  | 10.0 |
Real estate management and development |  | .4 |  |  |  | 9.8 |  |  |  | 4.2 |  |  |  | 13.0 |
Total operating income |  | 130.0 |  |  |  | 65.9 |  |  |  | 248.8 |  |  |  | 126.3 |
General corporate items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities earnings |  | 8.5 |  |  |  | 3.3 |  |  |  | 16.8 |  |  |  | 6.4 |
Insurance recoveries |  | .2 |  |  |  | 4.7 |  |  |  | .4 |  |  |  | 5.0 |
Gain on land sales |  | — |  |  |  | — |  |  |  | 12.5 |  |  |  | — |
Changes in market value of Valhi common stock held by subsidiaries |  | (3.8 | ) |  |  | 1.9 |  |  |  | (4.1 | ) |  |  | 3.0 |
Other components of net periodic pension and OPEB expense |  | (3.8 | ) |  |  | (4.1 | ) |  |  | (7.5 | ) |  |  | (8.2 | )
Litigation settlement expense |  | (62.0 | ) |  |  | (19.6 | ) |  |  | (62.0 | ) |  |  | (19.6 | )
General expenses, net |  | (11.1 | ) |  |  | (10.8 | ) |  |  | (25.1 | ) |  |  | (18.7 | )
Interest expense |  | (16.0 | ) |  |  | (10.1 | ) |  |  | (31.4 | ) |  |  | (20.4 | )
Income from continuing operations before income taxes | $ | 42.0 |  |  | $ | 31.2 |  |  | $ | 148.4 |  |  | $ | 73.8 |

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