Marketable securities

12 Months Ended

Dec. 31, 2022

Marketable securities

Marketable securities

Note 5 - Marketable securities:

Our current marketable securities are invested in U.S. government treasuries with original maturities ranging in length from 4 months to 12 months.  The fair value of our current marketable securities are determined using Level 2 inputs (because although these securities are traded, in many cases the market is not active and the year-end valuation is generally based on the last trade of the year, which may be several days prior to December 31).

Our noncurrent marketable securities consist of investments 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.

	Fair value			Cost or
	measurement	Market		amortized		Unrealized
	level	value		cost		gain (loss)
		(In thousands)
December 31, 2021
Noncurrent assets
Valhi common stock	1	$	34,435	$	24,347	$	10,088
December 31, 2022
Current assets - fixed income securities	2	$	70,164	$	70,226	$	(62)
Noncurrent assets
Valhi common stock	1	$	26,350	$	24,347	$	2,003

At December 31, 2021 and 2022, we held approximately 1.2 million shares of our immediate parent company, Valhi. See Note 1. The per share quoted market price of Valhi common stock at December 31, 2021 and 2022 was $28.75 and $22.00, respectively.

The Valhi common stock we own is subject to the 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.