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Quarterly Results of Operations | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly results of operations | Note 20 – Quarterly results of operations (unaudited):
|  | Quarter ended |
|  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
|  | (In millions, except per share data) |
Year ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 28.4 |  |  | $ | 32.4 |  |  | $ | 30.0 |  |  | $ | 27.4 |
Gross margin |  |  | 9.5 |  |  |  | 11.2 |  |  |  | 9.6 |  |  |  | 7.9 |
Net income (loss) |  |  | 14.7 |  |  |  | (42.0 | ) |  |  | (14.9 | ) |  |  | 3.1 |
Amounts attributable to NL stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 14.2 |  |  | $ | (42.6 | ) |  | $ | (15.4 | ) |  | $ | 2.8 |
Income (loss) per common share |  | $ | .29 |  |  | $ | (.87 | ) |  | $ | (.32 | ) |  | $ | .06 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 31.2 |  |  | $ | 33.7 |  |  | $ | 29.7 |  |  | $ | 29.6 |
Gross margin |  |  | 9.6 |  |  |  | 11.0 |  |  |  | 9.4 |  |  |  | 9.0 |
Net income (loss) |  |  | 15.7 |  |  |  | 6.6 |  |  |  | (1.0 | ) |  |  | 6.7 |
Amounts attributable to NL stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 15.2 |  |  | $ | 5.9 |  |  | $ | (1.6 | ) |  | $ | 6.3 |
Income (loss) per common share |  | $ | .31 |  |  | $ | .12 |  |  | $ | (.03 | ) |  | $ | .13 |
We recognized the following amounts during 2018:
| • | loss of $49.0 million, net of income taxes, in the second quarter related to the litigation settlement expense (see Note 17); and
| • | loss of $.9 million in the fourth quarter, net of income taxes, included in our equity in earnings of Kronos related to Kronos’ current income tax expense on global intangible low-tax income.
We recognized the following amounts during 2019:
• | loss of $15.2 million, net of income tax expense, mainly in the second quarter related to the litigation settlement expense (see Note 17);
• | income of $3.5 million, net of income tax expense, in the third quarter related to a gain from a sale of excess property (see Note 13);
• | income of $2.4 million, net of income tax expense, in the fourth quarter related to a gain from the sale of our insurance and risk management business (see Note 13);
• | income of $4.1 million, net of income tax expense, ($.2 million, $3.7 million and $.2 million in the first, second and third quarters, respectively) related to insurance recoveries (see Note 17);
• | loss of $1.3 million included in our equity in earnings of Kronos related to Kronos’ fourth quarter recognition of a non-cash deferred income tax expense primarily related to the revaluation of Kronos’ net deferred income tax asset in Germany as a result of a decrease in the German trade tax rate (see Note 14);
• | income of $.7 million included in our equity in earnings of Kronos related to Kronos’ fourth quarter recognition of an income tax benefit related to the favorable settlement of a prior year tax matter in Germany (see Note 14); and
• | income of $.5 million, included in our equity in earnings of Kronos, related to Kronos’ insurance settlement gain recognized in the fourth quarter.
The sum of the quarterly per share amounts may not equal the annual per share amounts due to relative changes in the weighted average number of shares used in the per share computations.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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