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v3.20.2

Business Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Holding Percentage of Subsidiaries |
Business segment |  | Entity |  | % controlled at June 30, 2020 |
Chemicals |  | Kronos |  | 80 | %
Component products |  | CompX |  | 86 | %
Real estate management and development |  | BMI and LandWell |  | 63 - 77 | %
Segment Operating Performance |
| Three months ended |  |  | Six months ended |
| June 30, |  |  | June 30, |
| 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |
| (In millions) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 484.5 |  |  | $ | 386.0 |  |  | $ | 921.0 |  |  | $ | 807.0 |
Component products |  | 33.7 |  |  |  | 23.8 |  |  |  | 64.9 |  |  |  | 56.1 |
Real estate management and development |  | 10.4 |  |  |  | 5.2 |  |  |  | 22.3 |  |  |  | 11.2 |
Total net sales | $ | 528.6 |  |  | $ | 415.0 |  |  | $ | 1,008.2 |  |  | $ | 874.3 |
Cost of sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 375.4 |  |  | $ | 291.1 |  |  | $ | 703.1 |  |  | $ | 624.5 |
Component products |  | 22.8 |  |  |  | 16.4 |  |  |  | 44.3 |  |  |  | 38.3 |
Real estate management and development |  | 7.2 |  |  |  | 3.5 |  |  |  | 15.8 |  |  |  | 7.8 |
Total cost of sales | $ | 405.4 |  |  | $ | 311.0 |  |  | $ | 763.2 |  |  | $ | 670.6 |
Gross margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 109.1 |  |  | $ | 94.9 |  |  | $ | 217.9 |  |  | $ | 182.5 |
Component products |  | 10.9 |  |  |  | 7.4 |  |  |  | 20.6 |  |  |  | 17.8 |
Real estate management and development |  | 3.2 |  |  |  | 1.7 |  |  |  | 6.5 |  |  |  | 3.4 |
Total gross margin | $ | 123.2 |  |  | $ | 104.0 |  |  | $ | 245.0 |  |  | $ | 203.7 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals | $ | 50.5 |  |  | $ | 35.9 |  |  | $ | 103.3 |  |  | $ | 82.7 |
Component products |  | 5.6 |  |  |  | 2.4 |  |  |  | 10.0 |  |  |  | 7.4 |
Real estate management and development |  | 9.8 |  |  |  | 1.0 |  |  |  | 13.0 |  |  |  | 20.2 |
Total operating income |  | 65.9 |  |  |  | 39.3 |  |  |  | 126.3 |  |  |  | 110.3 |
General corporate items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities earnings |  | 3.3 |  |  |  | 1.0 |  |  |  | 6.4 |  |  |  | 2.6 |
Insurance recoveries |  | 4.7 |  |  |  | - |  |  |  | 5.0 |  |  |  | 1.6 |
Changes in market value of Valhi common stock held by subsidiaries |  | 1.9 |  |  |  | (.5 | ) |  |  | 3.0 |  |  |  | (2.9 | )
Other components of net periodic pension expense |  | (4.1 | ) |  |  | (5.0 | ) |  |  | (8.2 | ) |  |  | (9.7 | )
Litigation settlement expense, net |  | (19.6 | ) |  |  | - |  |  |  | (19.6 | ) |  |  | - |
General expenses, net |  | (10.8 | ) |  |  | (9.0 | ) |  |  | (18.7 | ) |  |  | (17.1 | )
Interest expense |  | (10.1 | ) |  |  | (8.8 | ) |  |  | (20.4 | ) |  |  | (18.5 | )
Income before income taxes | $ | 31.2 |  |  | $ | 17.0 |  |  | $ | 73.8 |  |  | $ | 66.3 |

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