Business and geographic segments (Tables)

12 Months Ended

Dec. 31, 2023

Business and geographic segments

Holding Percentage of Subsidiaries

		% controlled at
Business segment	Entity	December 31, 2023
Chemicals	Kronos	81%
Component products	CompX	87%
Real estate management and development	BMI and LandWell	63% - 77%

Segment Operating Performance

	Years ended December 31,
	2021		2022		2023
	(In millions)
Net sales:
Chemicals	$	1,939.4	$	1,930.2	$	1,666.5
Component products		140.8		166.6		161.3
Real estate management and development		216.2		125.7		93.9
Total net sales	$	2,296.4	$	2,222.5	$	1,921.7
Cost of sales:
Chemicals	$	1,494.5	$	1,540.2	$	1,502.7
Component products		98.1		117.8		112.1
Real estate management and development		123.6		74.1		61.7
Total cost of sales	$	1,716.2	$	1,732.1	$	1,676.5
Gross margin:
Chemicals	$	444.9	$	390.0	$	163.8
Component products		42.7		48.8		49.2
Real estate management and development		92.6		51.6		32.2
Total gross margin	$	580.2	$	490.4	$	245.2
Operating income (loss):
Chemicals	$	200.8	$	174.6	$	(41.1)
Component products		20.5		25.4		25.4
Real estate management and development		97.3		39.4		49.9
Total operating income		318.6		239.4		34.2
General corporate items:
Interest income and other		4.0		10.4		21.3
Gain on land sales		16.0		—		1.5
Other components of net periodic pension and OPEB expense		(17.0)		(13.9)		(11.8)
Changes in market value of Valhi common stock held by subsidiaries		3.3		(1.6)		(1.7)
General expenses, net		(34.6)		(36.5)		(34.7)
Interest expense		(32.5)		(27.9)		(28.3)
Income (loss) before income taxes	$	257.8	$	169.9	$	(19.5)

	Years ended December 31,
	2021		2022		2023
	(In millions)
Depreciation and amortization:
Chemicals	$	52.8	$	53.1	$	49.9
Component products		3.8		4.0		4.0
Real estate management and development		2.7		1.4		.2
Total	$	59.3	$	58.5	$	54.1
Capital expenditures:
Chemicals	$	58.6	$	63.2	$	47.4
Component products		4.1		3.7		1.1
Real estate management and development		1.4		.7		—
Total	$	64.1	$	67.6	$	48.5

Total Assets Held by Business Segments

	December 31,
	2021		2022		2023
	(In millions)
Total assets:
Operating segments:
Chemicals	$	2,373.1	$	2,293.5	$	2,196.8
Component products		146.4		131.3		141.5
Real estate management and development		259.3		219.2		200.9
Corporate and eliminations		226.4		191.7		197.8
Total	$	3,005.2	$	2,835.7	$	2,737.0

Net Sales by Point of Origin and Point of Destination

	Years ended December 31,
	2021		2022		2023
	(In millions)
Net sales - point of origin:
United States	$	1,409.1	$	1,518.9	$	1,284.4
Germany		971.7		895.4		726.4
Canada		371.9		389.4		351.0
Norway		257.2		273.5		252.1
Belgium		295.7		306.5		217.1
Eliminations		(1,009.2)		(1,161.2)		(909.3)
Total	$	2,296.4	$	2,222.5	$	1,921.7
Net sales - point of destination:
North America	$	999.7	$	985.4	$	871.0
Europe		945.7		879.0		738.5
Other		351.0		358.1		312.2
Total	$	2,296.4	$	2,222.5	$	1,921.7

Net Property and Equipment by Segment

	December 31,
	2021		2022		2023
	(In millions)
Net property and equipment:
United States	$	63.6	$	45.8	$	40.0
Germany		214.8		204.7		213.0
Belgium		107.7		101.4		98.5
Norway		86.4		83.6		83.5
Canada		91.1		88.3		82.3
Total	$	563.6	$	523.8	$	517.3