Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2021

Payables And Accruals [Abstract]

Accounts Payable and Accrued Liabilities

Note 10 – Accounts payable and accrued liabilities:

		December 31,
		2020		2021
	(In millions)
Accounts payable:
Kronos		$	111.0	$	143.6
CompX			2.6		3.4
BMI and LandWell			3.6		5.3
Other			.4		.4
Total		$	117.6	$	152.7
Current accrued liabilities:
Deferred income		$	20.1	$	125.8
Employee benefits			37.5		39.9
Accrued sales discounts and rebates			30.2		28.7
Interest			5.7		5.3
Operating lease liabilities			6.7		3.7
Environmental remediation and related costs			3.4		3.5
Other			39.4		57.9
Total		$	143.0	$	264.8
Noncurrent accrued liabilities:
Deferred income		$	58.9	$	81.6
Accrued development costs			24.6		55.4
Insurance claims and expenses			39.3		36.4
Operating lease liabilities			18.8		15.8
Other postretirement benefits			10.8		10.2
Employee benefits			6.2		6.1
Reserve for uncertain tax positions			6.8		3.5
Deferred payment obligation			1.3		—
Other			7.8		10.0
Total		$	174.5	$	219.0

The risks associated with certain of our accrued insurance claims and expenses have been reinsured, and the related IBNR receivables are recognized as noncurrent assets to the extent the related liability is classified as a noncurrent liability. See Note 7. Our reserve for uncertain tax positions is discussed in Note 14.

In 2013 and in conjunction with the acquisition of a controlling interest of our Real Estate Management and Development Segment, we issued a face value $11.1 million deferred payment obligation owed to NERT that would not bear interest until December 2023, and was collateralized by the BMI and LandWell interests acquired. The deferred payment obligation had no specified maturity date. We were required to make repayments on the deferred payment obligation, in specified amounts, whenever we received distributions from BMI and LandWell, and we were permitted to make voluntary repayments on the deferred payment obligation at any time, in each case without any penalty. For financial reporting purposes, the obligation was recorded at its acquisition date present value using a 3% discount rate from December 2023 (when it would become interest bearing at 3%). We made repayments of $9.6 million during 2020 under the terms of the obligation and recognized an accretion loss of $.8 million on the early repayment. In the first quarter of 2021 we voluntarily fully repaid the remaining $1.5 million face value outstanding under the obligation and recognized an accretion loss of $.2 million on the early payment.