Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as December 31, 2012 and 2013:

	December 31, 2012				December 31, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Cash and cash equivalents, restricted cash equivalents and current marketable securities	$	85,035	$	85,035	$	57,639	$	57,639
CompX promissory note payable to TFMC		18,480		18,480		-		-
Noncontrolling interest in CompX common stock		13,268		23,409		13,615		23,119
NL stockholders’ equity		374,815		557,259		355,380		544,174

Level 1

Valuation of Short-Term Investments and Marketable Securities

The following table summarizes the valuation of our short-term investments and marketable securities, all classified as a noncurrent asset, by the ASC Topic 820 categories as of December 31, 2012 and 2013:

	Fair Value Measurements
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
December 31, 2012 -
Marketable securities	$	179,662	$	179,662		-		-
December 31, 2013 -
Marketable securities	$	252,677	$	252,677		-		-