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v3.22.4

Business and Geographic Segments (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Holding Percentage of Subsidiaries | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | % controlled at |
Business segment | ​ | Entity | ​ | December 31, 2022 |
Chemicals |  | Kronos |  | 81% | ​
Component products |  | CompX |  | 87% | ​
Real estate management and development |  | BMI and LandWell |  | 63% - 77% | ​
​
Segment Operating Performance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | (In millions)
Net sales: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chemicals | ​ | $ | 1,638.8 | ​ | $ | 1,939.4 | ​ | $ | 1,930.2
Component products | ​ |  | 114.5 | ​ |  | 140.8 | ​ |  | 166.6
Real estate management and development | ​ |  | 96.4 | ​ |  | 216.2 | ​ |  | 125.7
Total net sales | ​ | $ | 1,849.7 | ​ | $ | 2,296.4 | ​ | $ | 2,222.5
Cost of sales: | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 1,291.0 | ​ | $ | 1,494.5 | ​ | $ | 1,540.2
Component products | ​ |  | 81.7 | ​ |  | 98.1 | ​ |  | 117.8
Real estate management and development | ​ |  | 64.9 | ​ |  | 123.6 | ​ |  | 74.1
Total cost of sales | ​ | $ | 1,437.6 | ​ | $ | 1,716.2 | ​ | $ | 1,732.1
Gross margin: | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 347.8 | ​ | $ | 444.9 | ​ | $ | 390.0
Component products | ​ |  | 32.8 | ​ |  | 42.7 | ​ |  | 48.8
Real estate management and development | ​ |  | 31.5 | ​ |  | 92.6 | ​ |  | 51.6
Total gross margin | ​ | $ | 412.1 | ​ | $ | 580.2 | ​ | $ | 490.4
Operating income: | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 126.5 | ​ | $ | 200.8 | ​ | $ | 174.6
Component products | ​ |  | 11.8 | ​ |  | 20.5 | ​ |  | 25.4
Real estate management and development | ​ |  | 47.8 | ​ |  | 97.3 | ​ |  | 39.4
Total operating income | ​ |  | 186.1 | ​ |  | 318.6 | ​ |  | 239.4
General corporate items: | ​ |  |  | ​ |  |  | ​ |  |
Interest income and other | ​ | ​ | 4.7 | ​ | ​ | 4.0 | ​ | ​ | 10.4
Insurance recoveries | ​ | ​ | 1.6 | ​ | ​ | .1 | ​ | ​ | .1
Gain on land sales | ​ | ​ | .5 | ​ | ​ | 16.0 | ​ | ​ | —
Other components of net periodic pension and OPEB expense | ​ |  | (20.1) | ​ |  | (17.0) | ​ |  | (13.9)
Changes in market value of Valhi common stock held by subsidiaries | ​ |  | (1.7) | ​ |  | 3.3 | ​ |  | (1.6)
General expenses, net | ​ |  | (34.3) | ​ |  | (34.7) | ​ |  | (36.6)
Interest expense | ​ |  | (36.2) | ​ |  | (32.5) | ​ |  | (27.9)
Income from continuing operations before income taxes | ​ | $ | 100.6 | ​ | $ | 257.8 | ​ | $ | 169.9
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2020 |  | 2021 | ​ | 2022
​ | ​ | (In millions)
Depreciation and amortization: |  | ​ |  |  | ​ |  |  | ​ |
Chemicals | ​ | $ | 61.9 | ​ | $ | 52.8 | ​ | $ | 53.1
Component products | ​ |  | 3.8 | ​ |  | 3.8 | ​ |  | 4.0
Real estate management and development | ​ |  | 2.8 | ​ |  | 2.7 | ​ |  | 1.4
Total | ​ | $ | 68.5 | ​ | $ | 59.3 | ​ | $ | 58.5
Capital expenditures: | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 62.8 | ​ | $ | 58.6 | ​ | $ | 63.2
Component products | ​ |  | 1.7 | ​ |  | 4.1 | ​ |  | 3.7
Real estate management and development | ​ |  | 1.0 | ​ |  | 1.4 | ​ |  | .7
Total | ​ | $ | 65.5 | ​ | $ | 64.1 | ​ | $ | 67.6
Total Assets Held by Business Segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | (In millions)
Total assets: |  | ​ |  |  | ​ |  |  | ​ |
Operating segments: |  | ​ |  |  | ​ |  |  | ​ |
Chemicals | ​ | $ | 2,400.7 | ​ | $ | 2,373.1 | ​ | $ | 2,293.5
Component products | ​ |  | 138.0 | ​ |  | 146.4 | ​ |  | 131.3
Real estate management and development | ​ |  | 171.3 | ​ |  | 259.3 | ​ |  | 219.2
Corporate and eliminations | ​ |  | 179.3 | ​ |  | 226.4 | ​ |  | 191.7
Total | ​ | $ | 2,889.3 | ​ | $ | 3,005.2 | ​ | $ | 2,835.7
​
Net Sales by Point of Origin and Point of Destination | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | (In millions)
Net sales - point of origin: |  | ​ |  |  | ​ |  |  | ​ |
United States | ​ | $ | 1,189.8 | ​ | $ | 1,409.1 | ​ | $ | 1,518.9
Germany | ​ |  | 836.0 | ​ |  | 971.7 | ​ |  | 895.4
Canada | ​ |  | 319.5 | ​ |  | 371.9 | ​ |  | 389.4
Belgium | ​ |  | 249.5 | ​ |  | 295.7 | ​ |  | 306.5
Norway | ​ |  | 211.8 | ​ |  | 257.2 | ​ |  | 273.5
Eliminations | ​ |  | (956.9) | ​ |  | (1,009.2) | ​ |  | (1,161.2)
Total | ​ | $ | 1,849.7 | ​ | $ | 2,296.4 | ​ | $ | 2,222.5
Net sales - point of destination: | ​ |  |  | ​ |  |  | ​ |  |
North America | ​ | $ | 778.2 | ​ | $ | 999.7 | ​ | $ | 985.4
Europe | ​ |  | 783.8 | ​ |  | 945.7 | ​ |  | 879.0
Asia and other | ​ |  | 287.7 | ​ |  | 351.0 | ​ |  | 358.1
Total | ​ | $ | 1,849.7 | ​ | $ | 2,296.4 | ​ | $ | 2,222.5
Net Property and Equipment by Segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2021 |  | 2022
​ |  | (In millions)
Net property and equipment: |  | ​ |  |  | ​ |  |  | ​ |
United States | ​ | $ | 67.8 | ​ | $ | 63.6 | ​ | $ | 45.8
Germany | ​ |  | 237.5 | ​ |  | 214.8 | ​ |  | 204.7
Canada | ​ |  | 88.6 | ​ |  | 91.1 | ​ |  | 88.3
Belgium | ​ |  | 108.4 | ​ |  | 107.7 | ​ |  | 101.4
Norway | ​ |  | 88.1 | ​ |  | 86.4 | ​ |  | 83.6
Total | ​ | $ | 590.4 | ​ | $ | 563.6 | ​ | $ | 523.8

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