Marketable Securities

12 Months Ended

Dec. 31, 2018

Investments Debt And Equity Securities [Abstract]

Marketable securities

Note 5 - Marketable securities:

Our marketable securities consist of investments in the publicly-traded shares of our immediate parent company Valhi, Inc. Prior to 2018, any unrealized gains or losses on the securities were recognized through other comprehensive income, net of deferred income taxes.  Beginning on January 1, 2018 with the adoption of Accounting Standards Update (“ASU”) 2016-01, our marketable equity securities continue to be carried at fair value as noted below, but any unrealized gains or losses on the securities are now recognized as a component of other income included in Marketable equity securities on our Consolidated Statements of Operations.    

	Fair value
	measurement	Market		Cost		Unrealized
	level	value		basis		gain (loss)
		(In thousands)
December 31, 2017
Noncurrent assets
Valhi common stock	1	$	88,681	$	24,347	$	64,334
December 31, 2018
Noncurrent assets
Valhi common stock	1	$	27,740	$	24,347	$	3,393

At December 31, 2017 and 2018, we held approximately 14.4 million shares of our immediate parent company, Valhi. See Note 1.  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, 2017 and 2018, the quoted market prices of Valhi common stock were $6.17 and $1.93 per share, 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.