Marketable Securities

9 Months Ended

Sep. 30, 2017

Investments Debt And Equity Securities [Abstract]

Marketable securities

Note 4 – Marketable securities:

	Fair value measurement level	Market value		Cost basis		Unrealized gain (loss)
		(In thousands)
December 31, 2016
Valhi common stock	1	$	49,731	$	24,347	$	25,384
September 30, 2017
Valhi common stock	1	$	34,926	$	24,347	$	10,579

At December 31, 2016 and September 30, 2017, we held approximately 14.4 million shares of common stock of our immediate parent company, Valhi.  See Note 1.  We account for our investment in Valhi common stock as available-for-sale marketable equity securities and any unrealized gains or losses on the securities are recognized through other comprehensive income, net of deferred income taxes.  Our shares of Valhi common stock are carried at fair value based on quoted market prices, representing a Level 1 input within the fair value hierarchy.  At December 31, 2016 and September 30, 2017, the quoted per share market price of Valhi common stock was $3.46 and $2.43, 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.