Marketable securities

3 Months Ended

Mar. 31, 2026

Marketable securities

Marketable securities

Note 5 – Marketable securities:

Our noncurrent marketable securities are equity securities and consist of our investment in the publicly-traded shares of our immediate parent company Valhi, Inc. Our shares of Valhi common stock are accounted for as available-for-sale securities, which are carried at fair value using quoted market prices in active markets and represent a Level 1 input within the fair value hierarchy, as defined by ASC Topic 820, Fair Value Measurements and Disclosures. We record any unrealized gains or losses on the securities in other income (expense) on our Condensed Consolidated Statements of Operations.

	Fair value
	measurement	Market		Cost		Unrealized
	level	value		basis		loss, net
		(In thousands)
December 31, 2025
Noncurrent assets - Valhi common stock	1	$	14,433	$	24,347	$	(9,914)
March 31, 2026
Noncurrent assets - Valhi common stock	1	$	17,128	$	24,347	$	(7,219)

At December 31, 2025 and March 31, 2026, we held approximately 1.2 million shares of common stock our immediate parent company, Valhi, Inc. At December 31, 2025 and March 31, 2026, the quoted per share market price of Valhi common stock was $12.05 and $14.30, respectively.

The Valhi common stock we own is subject to restrictions on resale pursuant to certain provisions of the SEC Rule 144. In addition, as a majority-owned subsidiary of Valhi we cannot vote our shares of Valhi common stock under Delaware General Corporation Law, but we do receive dividends from Valhi on these shares, when declared and paid.