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v3.20.2

Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Holding Percentage of Subsidiaries |
Business segment |  | Entity |  | % controlled at September 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 |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |
|  | (In millions) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals |  | $ | 437.4 |  |  | $ | 416.9 |  |  | $ | 1,358.4 |  |  | $ | 1,223.9 |
Component products |  |  | 29.7 |  |  |  | 28.4 |  |  |  | 94.6 |  |  |  | 84.5 |
Real estate management and development |  |  | 8.1 |  |  |  | 13.3 |  |  |  | 30.5 |  |  |  | 24.5 |
Total net sales |  | $ | 475.2 |  |  | $ | 458.6 |  |  | $ | 1,483.5 |  |  | $ | 1,332.9 |
Cost of sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals |  | $ | 350.3 |  |  | $ | 337.3 |  |  | $ | 1,053.4 |  |  | $ | 961.8 |
Component products |  |  | 20.2 |  |  |  | 21.1 |  |  |  | 64.6 |  |  |  | 59.4 |
Real estate management and development |  |  | 6.3 |  |  |  | 10.5 |  |  |  | 22.0 |  |  |  | 18.3 |
Total cost of sales |  | $ | 376.8 |  |  | $ | 368.9 |  |  | $ | 1,140.0 |  |  | $ | 1,039.5 |
Gross margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals |  | $ | 87.1 |  |  | $ | 79.6 |  |  | $ | 305.0 |  |  | $ | 262.1 |
Component products |  |  | 9.5 |  |  |  | 7.3 |  |  |  | 30.0 |  |  |  | 25.1 |
Real estate management and development |  |  | 1.8 |  |  |  | 2.8 |  |  |  | 8.5 |  |  |  | 6.2 |
Total gross margin |  | $ | 98.4 |  |  | $ | 89.7 |  |  | $ | 343.5 |  |  | $ | 293.4 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemicals |  | $ | 36.3 |  |  | $ | 21.6 |  |  | $ | 139.6 |  |  | $ | 104.3 |
Component products |  |  | 4.3 |  |  |  | 2.1 |  |  |  | 14.3 |  |  |  | 9.5 |
Real estate management and development |  |  | .8 |  |  |  | 5.2 |  |  |  | 13.7 |  |  |  | 25.4 |
Total operating income |  |  | 41.4 |  |  |  | 28.9 |  |  |  | 167.6 |  |  |  | 139.2 |
General corporate items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities earnings |  |  | 2.6 |  |  |  | .9 |  |  |  | 9.0 |  |  |  | 3.5 |
Insurance recoveries |  |  | .2 |  |  |  | - |  |  |  | 5.2 |  |  |  | 1.6 |
Gain on land sales |  |  | 4.4 |  |  |  | - |  |  |  | 4.4 |  |  |  | - |
Changes in market value of Valhi common stock held by subsidiaries |  |  | (3.1 | ) |  |  | .7 |  |  |  | (.1 | ) |  |  | (2.2 | )
Other components of net periodic pension expense |  |  | (4.1 | ) |  |  | (5.2 | ) |  |  | (12.3 | ) |  |  | (14.9 | )
Litigation settlement expense, net |  |  | .3 |  |  |  | - |  |  |  | (19.3 | ) |  |  | - |
General expenses, net |  |  | (9.5 | ) |  |  | (8.4 | ) |  |  | (28.2 | ) |  |  | (25.5 | )
Interest expense |  |  | (10.3 | ) |  |  | (8.9 | ) |  |  | (30.7 | ) |  |  | (27.4 | )
Income before income taxes |  | $ | 21.9 |  |  | $ | 8.0 |  |  | $ | 95.6 |  |  | $ | 74.3 |

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