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Financial instruments and fair value measurements
 3 Months Ended
Mar. 31, 2013
Fair Value Disclosures [Abstract]  
Financial instruments and fair value measurements

Note 15—Financial instruments and fair value measurements:

See Note 5 for information on how we determine fair value of our marketable securities.

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure at December 31, 2012 and March 31, 2013:

 

     December 31, 2012      March 31, 2013  
     Carrying
Amount		      Fair
Value		      Carrying
Amount		      Fair
Value		  
     (in thousands)  

Cash, cash equivalents and restricted cash

    $ 85,035       $ 85,035       $ 78,994       $ 78,994   

CompX promissory note payable to TIMET Finance Management Company

      18,480         18,480         18,230         18,230   

Noncontrolling interest in CompX common stock

      13,268         23,409         13,183         20,741   

NL stockholders’ equity

      374,815         557,259         395,683         604,954   

The fair value of our noncurrent marketable securities, noncontrolling interest in CompX and NL stockholder’s equity are based upon quoted market prices at each balance sheet date, which represent Level 1 inputs as defined by ASC Topic 820-10-35. The fair value of CompX’s promissory note payable represents a Level 2 input and is deemed to approximate book value. Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value.