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Business segment information (Tables) | 9 Months Ended
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Sep. 30, 2024
Business segment information |
Holding Percentage of Subsidiaries | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | % controlled at |
Business segment | ​ | Entity | ​ | September 30, 2024 |
Chemicals |  | Kronos |  | 81% | ​
Component products |  | CompX |  | 87% | ​
Real estate management and development |  | BMI and LandWell |  | 63% - 77% | ​
Segment Operating Performance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2023 |  | 2024 |  | 2023 |  | 2024
​ | ​ | (In millions)
Net sales: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chemicals | ​ | $ | 396.9 | ​ | $ | 484.7 | ​ | $ | 1,266.4 | ​ | $ | 1,464.0
Component products | ​ |  | 40.3 | ​ |  | 33.6 | ​ |  | 118.1 | ​ |  | 107.5
Real estate management and development | ​ |  | 31.7 | ​ |  | 15.3 | ​ |  | 84.2 | ​ |  | 52.4
Total net sales | ​ | $ | 468.9 | ​ | $ | 533.6 | ​ | $ | 1,468.7 | ​ | $ | 1,623.9
Cost of sales: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 362.8 | ​ | $ | 384.4 | ​ | $ | 1,158.0 | ​ | $ | 1,193.0
Component products | ​ |  | 27.7 | ​ |  | 24.1 | ​ |  | 82.5 | ​ |  | 77.2
Real estate management and development | ​ |  | 17.8 | ​ |  | 8.8 | ​ |  | 48.0 | ​ |  | 29.8
Total cost of sales | ​ | $ | 408.3 | ​ | $ | 417.3 | ​ | $ | 1,288.5 | ​ | $ | 1,300.0
Gross margin: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | 34.1 | ​ | $ | 100.3 | ​ | $ | 108.4 | ​ | $ | 271.0
Component products | ​ |  | 12.6 | ​ |  | 9.5 | ​ |  | 35.6 | ​ |  | 30.3
Real estate management and development | ​ |  | 13.9 | ​ |  | 6.5 | ​ |  | 36.2 | ​ |  | 22.6
Total gross margin | ​ | $ | 60.6 | ​ | $ | 116.3 | ​ | $ | 180.2 | ​ | $ | 323.9
Operating income (loss): | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Chemicals | ​ | $ | (21.8) | ​ | $ | 42.6 | ​ | $ | (39.5) | ​ | $ | 105.9
Component products | ​ |  | 6.6 | ​ |  | 3.3 | ​ |  | 18.0 | ​ |  | 12.1
Real estate management and development | ​ |  | 17.7 | ​ |  | 21.8 | ​ |  | 38.5 | ​ |  | 36.0
Total operating income | ​ |  | 2.5 | ​ |  | 67.7 | ​ |  | 17.0 | ​ |  | 154.0
General corporate items: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest income and other | ​ | ​ | 4.9 | ​ | ​ | 5.4 | ​ | ​ | 14.5 | ​ | ​ | 16.6
Gain on remeasurement of investment in TiO2 manufacturing joint venture | ​ | ​ | — | ​ | ​ | 64.5 | ​ | ​ | — | ​ | ​ | 64.5
Insurance recoveries | ​ | ​ | .3 | ​ | ​ | 1.1 | ​ | ​ | .4 | ​ | ​ | 1.3
Gain on land sales | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1.5 | ​ | ​ | —
Other components of net periodic pension and OPEB expense | ​ |  | (1.3) | ​ |  | (.6) | ​ |  | (10.0) | ​ |  | (1.8)
Changes in market value of Valhi common stock held by subsidiaries | ​ |  | .1 | ​ |  | 3.7 | ​ |  | (2.1) | ​ |  | 4.3
General expenses, net | ​ |  | (8.8) | ​ |  | (8.5) | ​ |  | (26.3) | ​ |  | (26.8)
Interest expense | ​ |  | (7.2) | ​ |  | (13.4) | ​ |  | (21.4) | ​ |  | (36.6)
Income (loss) before income taxes | ​ | $ | (9.5) | ​ | $ | 119.9 | ​ | $ | (26.4) | ​ | $ | 175.5

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