Business and geographic segments (Tables)

12 Months Ended

Dec. 31, 2024

Business and geographic segments

Holding Percentage of Subsidiaries

		% controlled at
Business segment	Entity	December 31, 2024
Chemicals	Kronos	81%
Component products	CompX	87%
Real estate management and development	BMI and LandWell	63% - 77%

Segment Operating Performance

	Years ended December 31,
	2022		2023		2024
	(In millions)
Net sales:
Chemicals	$	1,930.2	$	1,666.5	$	1,887.1
Component products		166.6		161.3		145.9
Real estate management and development		125.7		93.9		71.8
Total net sales	$	2,222.5	$	1,921.7	$	2,104.8
Cost of sales:
Chemicals	$	1,540.2	$	1,502.7	$	1,530.1
Component products		117.8		112.1		104.6
Real estate management and development		74.1		61.7		45.6
Total cost of sales	$	1,732.1	$	1,676.5	$	1,680.3
Gross margin:
Chemicals	$	390.0	$	163.8	$	357.0
Component products		48.8		49.2		41.3
Real estate management and development		51.6		32.2		26.2
Total gross margin	$	490.4	$	245.2	$	424.5
Operating income (loss):
Chemicals	$	174.6	$	(41.1)	$	138.5
Component products		25.4		25.4		17.0
Real estate management and development		39.4		49.9		55.2
Total operating income		239.4		34.2		210.7
General corporate items:
Interest income and other		10.4		21.3		22.0
Gain on remeasurement of investment in TiO2 manufacturing joint venture		—		—		64.5
Insurance recoveries		.1		.5		1.4
Gain on land sales		—		1.5		.5
Other components of net periodic pension and OPEB expense		(13.9)		(11.8)		(2.6)
Changes in market value of Valhi common stock held by subsidiaries		(1.6)		(1.7)		1.9
General expenses, net		(36.6)		(35.2)		(4.3)
Interest expense		(27.9)		(28.3)		(49.9)
Income (loss) before income taxes	$	169.9	$	(19.5)	$	244.2

	Years ended December 31,
	2022		2023		2024
	(In millions)
Depreciation and amortization:
Chemicals	$	53.1	$	49.9	$	62.9
Component products		4.0		4.0		3.7
Real estate management and development		1.4		.2		.1
Total	$	58.5	$	54.1	$	66.7
Capital expenditures:
Chemicals	$	63.2	$	47.4	$	29.5
Component products		3.7		1.1		1.4
Real estate management and development		.7		—		—
Total	$	67.6	$	48.5	$	30.9

Total Assets Held by Business Segments

	December 31,
	2022		2023		2024
	(In millions)
Total assets:
Operating segments:
Chemicals	$	2,293.5	$	2,196.8	$	2,268.5
Component products		131.3		141.5		117.0
Real estate management and development		219.2		200.9		216.7
Corporate and eliminations		191.7		197.8		198.0
Total	$	2,835.7	$	2,737.0	$	2,800.2

Net Sales by Point of Origin and Point of Destination

	Years ended December 31,
	2022		2023		2024
	(In millions)
Net sales - point of origin:
United States	$	1,518.9	$	1,284.4	$	1,396.1
Germany		895.4		726.4		826.6
Canada		389.4		351.0		351.5
Norway		273.5		252.1		278.6
Belgium		306.5		217.1		237.8
Eliminations		(1,161.2)		(909.3)		(985.8)
Total	$	2,222.5	$	1,921.7	$	2,104.8
Net sales - point of destination:
North America	$	985.4	$	871.0	$	914.0
Europe		879.0		738.5		842.2
Other		358.1		312.2		348.6
Total	$	2,222.5	$	1,921.7	$	2,104.8

Net Property and Equipment by Segment

	December 31,
	2022		2023		2024
	(In millions)
Net property and equipment:
United States	$	45.8	$	40.0	$	302.1
Germany		204.7		213.0		190.9
Belgium		101.4		98.5		88.6
Norway		83.6		83.5		73.6
Canada		88.3		82.3		68.2
Total	$	523.8	$	517.3	$	723.4