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Valhi stockholders' equity | 12 Months Ended
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Dec. 31, 2024
Valhi stockholders' equity |
Valhi stockholders' equity | ​ ​ Note 16 – Valhi stockholders’ equity: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shares of common stock
​ |  | Issued |  | Treasury |  | Outstanding
​ | ​ | (In millions)
Balance at December 31, 2022, 2023 and 2024 |  | 29.6 |  | (1.1) |  | 28.5
​ Valhi share repurchases and cancellations. Our board of directors previously authorized the repurchase of shares of our common stock in open market transactions, including block purchases, or in privately negotiated transactions, which may include transactions with our affiliates or subsidiaries. The aggregate number of shares authorized for repurchase is 833,333, and we have approximately 334,000 shares available for repurchase at December 31, 2024. We may purchase the stock from time to time as market conditions permit. The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on market conditions, we may terminate the program prior to completion. We will use cash on hand to acquire the shares. Repurchased shares could be retired and cancelled or may be added to our treasury stock and used for employee benefit plans, future acquisitions or other corporate purposes. We did not make any such purchases under the plan in 2022, 2023 or 2024. Treasury stock. At December 31, 2023 and 2024, NL and Kronos held approximately 1.2 million and .1 million shares of our common stock, respectively. The treasury stock we reported for financial reporting purposes at December 31, 2023 and 2024 represents our proportional interest in these shares of our common stock held by NL and Kronos, at NL’s and Kronos’ historical cost basis. The remaining portion of these shares of our common stock, which are attributable to the noncontrolling interest of NL and Kronos, are reflected in our Consolidated Balance Sheets at fair value and are classified as part of other noncurrent assets. Under Delaware Corporation Law, 100% (and not the proportionate interest) of a parent company’s shares held by a majority-owned subsidiary of the parent is considered to be treasury stock for voting purposes. As a result, our common shares outstanding for financial reporting purposes differ from those outstanding for legal purposes. Any unrealized gains or losses on the shares of our common stock attributable to the noncontrolling interest of Kronos and NL are recognized in the determination of each of Kronos and NL’s respective net income or loss. Under the principles of consolidation we eliminate any gains or losses associated with our common stock to the extent of our proportional ownership interest in each subsidiary. We recognized a loss of $1.6 million in 2022, a loss of $1.7 million in 2023 and a gain of $1.9 million in 2024 in our Consolidated Statements of Operations which represents the unrealized gain (loss) in respect of these shares attributable to the noncontrolling interest of Kronos and NL. See Note 2. Valhi director stock plan. Prior to 2022, our board of directors adopted a plan that provided for the award of stock to our board of directors, and up to a maximum of 200,000 shares could be awarded. In March 2021, our board of directors voted to replace the existing director stock plan with a new plan that would provide for the award of stock to non-employee members of our board of directors, and up to a maximum of 100,000 shares could be awarded. The new plan was approved at our May 2021 shareholder meeting, at which time the prior director stock plan terminated. We awarded 9,000 shares and 6,300 shares under this plan in 2023 and 2024, respectively, and at December 31, 2024, 78,300 shares are available for future award under this new plan. Stock plans of subsidiaries. Kronos, NL and CompX each maintain plans which provide for the award of their common stock to their board of directors. At December 31, 2024, Kronos, NL and CompX had 87,800, 185,750 and 119,650 shares of their respective common stock available for future award under respective plans. ​ Accumulated other comprehensive loss. Accumulated other comprehensive income (loss) attributable to Valhi stockholders comprises changes in equity as presented in the table below. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | (In millions)
Accumulated other comprehensive income (loss) (net of tax and noncontrolling interest): |  | ​ |  |  | ​ |  |  | ​ |
Marketable securities: |  | ​ |  |  | ​ |  |  | ​ |
Balance at beginning of year | ​ | $ | 1.7 | ​ | $ | 1.6 | ​ | $ | 1.7
Other comprehensive income: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Unrealized gain (loss) arising during the year | ​ |  | (.1) | ​ |  | .1 | ​ |  | —
Balance at end of year | ​ | $ | 1.6 | ​ | $ | 1.7 | ​ | $ | 1.7
Currency translation: | ​ |  |  | ​ |  |  | ​ |  |
Balance at beginning of year | ​ | $ | (72.2) | ​ | $ | (91.5) | ​ | $ | (88.8)
Other comprehensive income (loss) arising during the year | ​ |  | (19.3) | ​ |  | 2.7 | ​ |  | (22.9)
Balance at end of year | ​ | $ | (91.5) | ​ | $ | (88.8) | ​ | $ | (111.7)
Defined benefit pension plans: | ​ |  |  | ​ |  |  | ​ |  |
Balance at beginning of year | ​ | $ | (120.9) | ​ | $ | (55.0) | ​ | $ | (58.8)
Other comprehensive income: | ​ |  |  | ​ |  |  | ​ |  |
Amortization of prior service cost and net losses included in net periodic pension cost | ​ |  | 7.3 | ​ |  | 1.9 | ​ |  | 2.1
Net actuarial gain (loss) arising during the year | ​ |  | 58.4 | ​ |  | (10.0) | ​ |  | 7.1
Plan settlement | ​ |  | .2 | ​ |  | 4.3 | ​ |  | .2
Balance at end of year | ​ | $ | (55.0) | ​ | $ | (58.8) | ​ | $ | (49.4)
OPEB plans: | ​ |  |  | ​ |  |  | ​ |  |
Balance at beginning of year | ​ | $ | .1 | ​ | $ | 1.0 | ​ | $ | .4
Other comprehensive income: | ​ |  |  | ​ |  |  | ​ |  |
Amortization of prior service credit and net losses included in net periodic OPEB cost | ​ |  | (.5) | ​ |  | (.7) | ​ |  | (.3)
Net actuarial gain arising during the year | ​ |  | 1.4 | ​ |  | .1 | ​ |  | .1
Balance at end of year | ​ | $ | 1.0 | ​ | $ | .4 | ​ | $ | .2
Total accumulated other comprehensive loss: | ​ |  |  | ​ |  |  | ​ |  |
Balance at beginning of year | ​ | $ | (191.3) | ​ | $ | (143.9) | ​ | $ | (145.5)
Other comprehensive income (loss) | ​ |  | 47.4 | ​ |  | (1.6) | ​ |  | (13.7)
Balance at end of year | ​ | $ | (143.9) | ​ | $ | (145.5) | ​ | $ | (159.2)
​ See Note 11 for amounts related to our defined benefit pension plans and Note 10 for amounts related to our OPEB plans.

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