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Business and geographic segments (Tables) | 12 Months Ended
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Dec. 31, 2023
Business and geographic segments |
Holding Percentage of Subsidiaries | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | % controlled at |
Business segment | ​ | Entity | ​ | December 31, 2023 |
Chemicals |  | Kronos |  | 81% | ​
Component products |  | CompX |  | 87% | ​
Real estate management and development |  | BMI and LandWell |  | 63% - 77% | ​
Segment Operating Performance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | (In millions)
Net sales: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chemicals | ​ | $ | 1,939.4 | ​ | $ | 1,930.2 | ​ | $ | 1,666.5
Component products | ​ |  | 140.8 | ​ |  | 166.6 | ​ |  | 161.3
Real estate management and development | ​ |  | 216.2 | ​ |  | 125.7 | ​ |  | 93.9
Total net sales | ​ | $ | 2,296.4 | ​ | $ | 2,222.5 | ​ | $ | 1,921.7
Cost of sales: | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 1,494.5 | ​ | $ | 1,540.2 | ​ | $ | 1,502.7
Component products | ​ |  | 98.1 | ​ |  | 117.8 | ​ |  | 112.1
Real estate management and development | ​ |  | 123.6 | ​ |  | 74.1 | ​ |  | 61.7
Total cost of sales | ​ | $ | 1,716.2 | ​ | $ | 1,732.1 | ​ | $ | 1,676.5
Gross margin: | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 444.9 | ​ | $ | 390.0 | ​ | $ | 163.8
Component products | ​ |  | 42.7 | ​ |  | 48.8 | ​ |  | 49.2
Real estate management and development | ​ |  | 92.6 | ​ |  | 51.6 | ​ |  | 32.2
Total gross margin | ​ | $ | 580.2 | ​ | $ | 490.4 | ​ | $ | 245.2
Operating income (loss): | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 200.8 | ​ | $ | 174.6 | ​ | $ | (41.1)
Component products | ​ |  | 20.5 | ​ |  | 25.4 | ​ |  | 25.4
Real estate management and development | ​ |  | 97.3 | ​ |  | 39.4 | ​ |  | 49.9
Total operating income | ​ |  | 318.6 | ​ |  | 239.4 | ​ |  | 34.2
General corporate items: | ​ |  |  | ​ |  |  | ​ |  |
Interest income and other | ​ | ​ | 4.0 | ​ | ​ | 10.4 | ​ | ​ | 21.3
Gain on land sales | ​ | ​ | 16.0 | ​ | ​ | — | ​ | ​ | 1.5
Other components of net periodic pension and OPEB expense | ​ |  | (17.0) | ​ |  | (13.9) | ​ |  | (11.8)
Changes in market value of Valhi common stock held by subsidiaries | ​ |  | 3.3 | ​ |  | (1.6) | ​ |  | (1.7)
General expenses, net | ​ |  | (34.6) | ​ |  | (36.5) | ​ |  | (34.7)
Interest expense | ​ |  | (32.5) | ​ |  | (27.9) | ​ |  | (28.3)
Income (loss) before income taxes | ​ | $ | 257.8 | ​ | $ | 169.9 | ​ | $ | (19.5)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2021 |  | 2022 | ​ | 2023
​ | ​ | (In millions)
Depreciation and amortization: |  | ​ |  |  | ​ |  |  | ​ |
Chemicals | ​ | $ | 52.8 | ​ | $ | 53.1 | ​ | $ | 49.9
Component products | ​ |  | 3.8 | ​ |  | 4.0 | ​ |  | 4.0
Real estate management and development | ​ |  | 2.7 | ​ |  | 1.4 | ​ |  | .2
Total | ​ | $ | 59.3 | ​ | $ | 58.5 | ​ | $ | 54.1
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures: | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 58.6 | ​ | $ | 63.2 | ​ | $ | 47.4
Component products | ​ |  | 4.1 | ​ |  | 3.7 | ​ |  | 1.1
Real estate management and development | ​ |  | 1.4 | ​ |  | .7 | ​ |  | —
Total | ​ | $ | 64.1 | ​ | $ | 67.6 | ​ | $ | 48.5
Total Assets Held by Business Segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | (In millions)
Total assets: |  | ​ |  |  | ​ |  |  | ​ |
Operating segments: |  | ​ |  |  | ​ |  |  | ​ |
Chemicals | ​ | $ | 2,373.1 | ​ | $ | 2,293.5 | ​ | $ | 2,196.8
Component products | ​ |  | 146.4 | ​ |  | 131.3 | ​ |  | 141.5
Real estate management and development | ​ |  | 259.3 | ​ |  | 219.2 | ​ |  | 200.9
Corporate and eliminations | ​ |  | 226.4 | ​ |  | 191.7 | ​ |  | 197.8
Total | ​ | $ | 3,005.2 | ​ | $ | 2,835.7 | ​ | $ | 2,737.0
Net Sales by Point of Origin and Point of Destination | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | (In millions)
Net sales - point of origin: |  | ​ |  |  | ​ |  |  | ​ |
United States | ​ | $ | 1,409.1 | ​ | $ | 1,518.9 | ​ | $ | 1,284.4
Germany | ​ |  | 971.7 | ​ |  | 895.4 | ​ |  | 726.4
Canada | ​ |  | 371.9 | ​ |  | 389.4 | ​ |  | 351.0
Norway | ​ |  | 257.2 | ​ |  | 273.5 | ​ |  | 252.1
Belgium | ​ |  | 295.7 | ​ |  | 306.5 | ​ |  | 217.1
Eliminations | ​ |  | (1,009.2) | ​ |  | (1,161.2) | ​ |  | (909.3)
Total | ​ | $ | 2,296.4 | ​ | $ | 2,222.5 | ​ | $ | 1,921.7
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales - point of destination: | ​ |  |  | ​ |  |  | ​ |  |
North America | ​ | $ | 999.7 | ​ | $ | 985.4 | ​ | $ | 871.0
Europe | ​ |  | 945.7 | ​ |  | 879.0 | ​ |  | 738.5
Other | ​ |  | 351.0 | ​ |  | 358.1 | ​ |  | 312.2
Total | ​ | $ | 2,296.4 | ​ | $ | 2,222.5 | ​ | $ | 1,921.7
Net Property and Equipment by Segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ |  | (In millions)
Net property and equipment: |  | ​ |  |  | ​ |  |  | ​ |
United States | ​ | $ | 63.6 | ​ | $ | 45.8 | ​ | $ | 40.0
Germany | ​ |  | 214.8 | ​ |  | 204.7 | ​ |  | 213.0
Belgium | ​ |  | 107.7 | ​ |  | 101.4 | ​ |  | 98.5
Norway | ​ |  | 86.4 | ​ |  | 83.6 | ​ |  | 83.5
Canada | ​ |  | 91.1 | ​ |  | 88.3 | ​ |  | 82.3
Total | ​ | $ | 563.6 | ​ | $ | 523.8 | ​ | $ | 517.3
​

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