Marketable Securities

3 Months Ended

Mar. 31, 2021

Investments Debt And Equity Securities [Abstract]

Marketable Securities

Note 4 - Marketable securities:

Our marketable securities consist of investments in the publicly-traded shares of related parties: Valhi, NL and CompX International Inc.  NL owns the majority of CompX’s outstanding common stock.  All of our marketable securities are accounted for as available-for-sale securities, which are carried at fair value using quoted market prices in active markets for each marketable security and represent a Level 1 input within the fair value hierarchy.  Any unrealized gains or losses on the securities are recognized in Other income (expense) - Marketable equity securities on our Condensed Consolidated Statements of Income.  

	Fair value
	measurement	Market		Cost
Marketable security	level	value		basis		Unrealized loss
		(In millions)
December 31, 2020:
Valhi common stock	1	$	2.1	$	3.2	$	(1.1	)
NL and CompX common stocks	1		.1		.1		-
Total		$	2.2	$	3.3	$	(1.1	)
March 31, 2021:
Valhi common stock	1	$	2.9	$	3.2	$	(.3	)
NL and CompX common stocks	1		.1		.1		-
Total		$	3.0	$	3.3	$	(.3	)

At December 31, 2020 and March 31, 2021, we held approximately 144,000 shares of Valhi’s common stock. We also held a nominal number of shares of NL and CompX common stocks.  At December 31, 2020 and March 31, 2021, the per share quoted market price of Valhi’s common stock was $15.20 and $20.51, respectively.

The Valhi, CompX and NL common stocks we own are subject to restrictions on resale pursuant to certain provisions of SEC Rule 144.  In addition, as a majority-owned subsidiary of Valhi we cannot vote our shares of Valhi common stock under Delaware General Corporation law, but we receive dividends from Valhi on these shares when declared and paid.