CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 193.7	$ 214.0
Restricted cash equivalents	15.4	8.6
Marketable securities	2.2	2.9
Accounts and other receivables, net	414.8	318.9
Inventories, net	580.1	659.8
Prepaid expenses and other	47.4	54.9
Total current assets	1,253.6	1,259.1
Other assets:
Marketable securities	5.6	6.1
Goodwill	382.3	382.3
Deferred income taxes	29.0	35.2
Note receivables - OPA	111.9	116.1
Other assets	88.6	81.9
Total other assets	617.4	621.6
Property and equipment:
Land	79.1	79.4
Buildings	308.2	311.7
Equipment	1,450.9	1,464.2
Mining properties	95.7	91.8
Construction in progress	49.5	45.0
Gross property and equipment	1,983.4	1,992.1
Less accumulated depreciation and amortization	1,244.4	1,240.5
Net property and equipment	739.0	751.6
Total assets	2,610.0	2,632.3
Current liabilities:
Current maturities of long-term debt	0.8	0.8
Accounts payable and accrued liabilities	370.1	434.1
Income taxes	15.1	14.4
Total current liabilities	386.0	449.3
Noncurrent liabilities:
Long-term debt	624.5	590.9
Accrued pension costs	76.4	80.9
Accrued environmental remediation and related costs	14.6	14.7
Deferred income taxes	56.2	55.8
Other liabilities	81.6	77.0
Total noncurrent liabilities	853.3	819.3
Equity:
Preferred stock
Common stock	0.3	0.3
Additional paid-in capital	670.3	670.3
Retained earnings	507.7	508.0
Accumulated other comprehensive loss	(102.9)	(105.8)
Treasury stock, at cost	(49.6)	(49.6)
Total Valhi stockholders' equity	1,025.8	1,023.2
Noncontrolling interest in subsidiaries	344.9	340.5
Total equity	1,370.7	1,363.7
Total liabilities and equity	2,610.0	2,632.3
Commitments and contingencies (Notes 13 and 16)