Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2019

Accounts Payable and Accrued Liabilities

Note 10—Accounts payable and accrued liabilities:

	December 31,
	2018		2019
	(In millions)
Accounts payable:
Kronos	$	103.2	$	137.2
CompX		3.2		2.5
BMI/LandWell		2.9		3.7
NL		1.6		.9
Other		.6		.4
Total	$	111.5	$	144.7
Current accrued liabilities:
Employee benefits	$	37.5	$	30.6
Operating lease liabilities		-		6.2
Accrued sales discounts and rebates		29.7		33.7
Deferred income		28.3		10.3
Environmental remediation and related costs		6.5		4.5
Interest		5.2		5.2
Other		33.6		40.0
Total	$	140.8	$	130.5
Noncurrent accrued liabilities:
Other postretirement benefits	$	10.3	$	10.5
Operating lease liabilities		-		22.2
Reserve for uncertain tax positions		19.1		13.6
Deferred income		15.8		47.4
Employee benefits		7.1		6.0
Insurance claims and expenses		8.1		11.0
Deferred payment obligation		9.6		9.9
Accrued development costs		7.5		8.3
Other		9.9		8.2
Total	$	87.4	$	137.1

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 bears interest at 3% per annum, commencing in December 2023, and is collateralized by the BMI and LandWell interests acquired. The deferred payment obligation has no specified maturity date. We are required to make repayments on the deferred payment obligation, in specified amounts, whenever we receive distributions from BMI and LandWell, and we may make voluntary repayments on the deferred payment obligation at any time, in each case without any penalty, but in any case only after our promissory note payable to NERT (discussed in Note 9) has been repaid in full. For financial reporting purposes, the obligation was recorded at its acquisition date present value using a 3% discount rate from December 2023 (when it becomes interest bearing at 3%).