Quarterly Results of Operations

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations

Note 20 - Quarterly results of operations (unaudited):

	Quarter ended
	March 31		June 30			Sept. 30		Dec. 31
	(In millions, except per share data)
Year ended December 31, 2014
Net sales	$	25.8	$	26.8		$	26.5	$	24.7
Gross margin		7.7		8.6			8.2		7.7
Net income		4.1		5.8			14.1		5.6
Net income attributable to NL stockholders		3.7		5.5			13.9		5.4
Income per common share attributable to    NL stockholders	$	.08	$	.11		$	.29	$	.11
Year ended December 31, 2015
Net sales	$	27.9	$	28.9		$	26.5	$	25.7
Gross margin		8.6		9.1			8.1		7.6
Net income (loss)		10.3		(28.8	)		1.2		(5.4	)
Net income (loss) attributable to NL stockholders		10.0		(29.2	)		.9		(5.6	)
Income (loss) per common share attributable to    NL stockholders	$	.21	$	(.60	)	$	.02	$	(.11	)

We recognized the following amounts during 2014:

· aggregate pre-tax income of $10.4 million ($.8 million, $.4 million, $8.8 million, and $.4 million in the first, second, third, and fourth quarter, respectively) related to insurance recoveries, see Note 17,

· income of $.02 per share, net of income taxes, included in our equity in Kronos related to a net reduction of Kronos’ reserve for uncertain tax positions recognized in the second quarter of 2014.

We recognized the following amounts during 2015:

· aggregate pre-tax income of $3.7 million ($3.1 million, $.3 million, $.1 million, and $.2 million in the first, second, third, and fourth quarter, respectively) related to insurance recoveries, see Note 17,

· a first quarter non-cash income tax benefit in 2015 related to a net reduction in our reserve for uncertain tax positions of $3.0 million, see Note 13,

· loss of $.65 per share, net of income taxes, included in our equity in losses of Kronos related to Kronos’ recognition of a deferred income tax asset valuation allowance related to its German and Belgian operations primarily in the second quarter,

· loss of $.07 per share, net of income taxes, primarily in the second quarter included in our equity in losses of Kronos related to certain workforce reduction charges recognized by Kronos,

· loss of $.03 per share, net of income taxes, in the third quarter included in our equity in losses of Kronos related to Kronos’ recognition of an other-than-temporary impairment charge in a marketable equity security.

The sum of the quarterly per share amounts may not equal the annual per share amounts due to relative changes in the weighted average number of shares used in the per share computations.