Business and Geographic Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Holding Percentage of Subsidiaries

		% controlled at
Business segment	Entity	September 30, 2023
Chemicals	Kronos	81%
Component products	CompX	87%
Real estate management and development	BMI and LandWell	63% - 77%

Segment Operating Performance

	Three months ended				Nine months ended
	September 30,				September 30,
	2022		2023		2022		2023
	(In millions)
Net sales:
Chemicals	$	459.6	$	396.9	$	1,587.8	$	1,266.4
Component products		42.9		40.3		126.6		118.1
Real estate management and development		53.8		31.7		105.5		84.2
Total net sales	$	556.3	$	468.9	$	1,819.9	$	1,468.7
Cost of sales:
Chemicals	$	376.0	$	362.8	$	1,235.0	$	1,158.0
Component products		30.9		27.7		88.9		82.5
Real estate management and development		29.0		17.8		58.2		48.0
Total cost of sales	$	435.9	$	408.3	$	1,382.1	$	1,288.5
Gross margin:
Chemicals	$	83.6	$	34.1	$	352.8	$	108.4
Component products		12.0		12.6		37.7		35.6
Real estate management and development		24.8		13.9		47.3		36.2
Total gross margin	$	120.4	$	60.6	$	437.8	$	180.2
Operating income (loss):
Chemicals	$	34.3	$	(21.8)	$	189.9	$	(39.5)
Component products		6.0		6.6		20.0		18.0
Real estate management and development		29.1		17.7		32.1		38.5
Total operating income		69.4		2.5		242.0		17.0
General corporate items:
Interest income and other		3.3		4.9		5.6		14.5
Gain on land sales		—		—		—		1.5
Other components of net periodic pension and OPEB expense		(3.2)		(1.3)		(9.8)		(10.0)
Changes in market value of Valhi common stock held by subsidiaries		(4.9)		.1		(.9)		(2.1)
General expenses, net		(8.6)		(8.5)		(27.3)		(25.9)
Interest expense		(7.0)		(7.2)		(20.9)		(21.4)
Income (loss) before income taxes	$	49.0	$	(9.5)	$	188.7	$	(26.4)