0001564590-21-012521 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2020	Mar. 01, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	VHI
Entity Registrant Name	VALHI, INC.
Entity Central Index Key	0000059255
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,273,093
Entity Public Float			$ 25.3
Entity File Number	1-5467
Entity Tax Identification Number	87-0110150
Entity Address, Address Line One	5430 LBJ Freeway
Entity Address, Address Line Two	Suite 1700
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240-2620
City Area Code	972
Local Phone Number	233-1700
Title of 12(b) Security	Common stock
Security Exchange Name	NYSE
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
ICFR Auditor Attestation Flag	false
Documents Incorporated by Reference	The information required by Part III is incorporated by reference from the Registrant’s definitive proxy statement to be filed with the Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this report.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 518.6	$ 523.8
Restricted cash equivalents	13.9	27.0
Marketable securities	4.4	2.1
Accounts and other receivables, net	332.1	314.0
Refundable income taxes	5.7	7.9
Receivables from affiliates	4.5	7.3
Inventories, net	538.2	522.1
Other current assets	36.0	21.2
Total current assets	1,453.4	1,425.4
Other assets:
Marketable securities	2.9	6.2
Investment in TiO2 manufacturing joint venture	103.3	90.2
Goodwill	379.7	379.7
Deferred income taxes	120.2	106.0
Pension asset	8.4	7.4
Other assets	231.0	216.5
Total other assets	845.5	806.0
Property and equipment:
Land	49.6	46.2
Buildings	268.7	248.0
Equipment	1,234.8	1,166.0
Mining properties	30.2	26.2
Construction in progress	64.5	62.7
Gross property and equipment	1,647.8	1,549.1
Less accumulated depreciation and amortization	1,057.4	986.1
Net property and equipment	590.4	563.0
Total assets	2,889.3	2,794.4
Current liabilities:
Current maturities of long-term debt	2.4	4.9
Accounts payable	117.6	144.7
Accrued liabilities	143.0	130.5
Accrued litigation settlement	11.8	11.8
Payables to affiliates	27.6	20.4
Income taxes	15.7	10.2
Total current liabilities	318.1	322.5
Noncurrent liabilities:
Long-term debt	786.2	789.4
Deferred income taxes	29.6	38.1
Payables to affiliates	50.4	56.3
Long-term litigation settlement	49.4	60.1
Accrued pension costs	379.0	315.6
Accrued environmental remediation and related costs	95.2	95.2
Other liabilities	174.5	137.1
Total noncurrent liabilities	1,564.3	1,491.8
Equity:
Preferred stock, $.01 par value; 5,000 and nil shares authorized; 5,000 and nil shares issued		667.3
Common stock, $.01 par value; 500.0 million and 50.0 million shares authorized; 29.6 million shares issued and outstanding	0.3	0.3
Additional paid-in capital	668.3	3.3
Retained earnings	282.9	239.4
Accumulated other comprehensive loss	(219.4)	(220.7)
Treasury stock, at cost - 1.1 million shares	(49.6)	(49.6)
Total Valhi stockholders' equity	682.5	640.0
Noncontrolling interest in subsidiaries	324.4	340.1
Total equity	1,006.9	980.1
Total liabilities and equity	2,889.3	2,794.4
Commitments and contingencies (Notes 9, 14, 17 and 18)

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized		5,000
Preferred stock, shares issued		5,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000.0	500,000,000.0
Common stock, shares issued	29,600,000	29,600,000
Common stock, shares outstanding	29,600,000	29,600,000
Treasury stock, shares	1,100,000	1,100,000

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues and other income:
Net sales	$ 1,849.7	$ 1,897.5	$ 1,820.1
Other income, net	28.4	40.9	69.2
Total revenues and other income	1,878.1	1,938.4	1,889.3
Cost and expenses:
Cost of sales	1,437.6	1,462.9	1,210.9
Selling, general and administrative	283.6	294.2	310.0
Litigation settlement expense, net		19.3	62.0
Other components of net periodic pension expense	20.1	16.5	14.5
Interest	36.2	40.8	55.7
Total costs and expenses	1,777.5	1,833.7	1,653.1
Income from continuing operations before income taxes	100.6	104.7	236.2
Income tax expense (benefit)	15.9	26.5	(30.7)
Net income from continuing operations	84.7	78.2	266.9
Income from discontinued operations, net of tax	4.3		34.1
Net income	89.0	78.2	301.0
Noncontrolling interest in net income of subsidiaries	33.8	29.0	38.8
Net income attributable to Valhi stockholders	55.2	49.2	262.2
Amounts attributable to Valhi stockholders:
Income from continuing operations	50.9	49.2	228.1
Income from discontinued operations	4.3		34.1
Net income attributable to Valhi stockholders	$ 55.2	$ 49.2	$ 262.2
Basic and diluted net income per share:
Income from continuing operations	$ 1.79	$ 1.73	$ 8.00
Income from discontinued operations	0.15		1.20
Net income per basic and diluted share	$ 1.94	$ 1.73	$ 9.20
Basic and diluted weighted average shares outstanding	28.5	28.5	28.5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 89.0	$ 78.2	$ 301.0
Other comprehensive income (loss), net of tax:
Currency translation	12.5	(1.8)	(29.4)
Total other comprehensive income (loss), net	1.4	(19.9)	(37.1)
Comprehensive income	90.4	58.3	263.9
Comprehensive income attributable to noncontrolling interest	33.9	23.5	29.0
Comprehensive income attributable to Valhi stockholders	56.5	34.8	234.9
Defined Benefit Pension Plans
Other comprehensive income (loss), net of tax:
Pension and other postretirement benefit plan	(10.4)	(17.3)	(6.8)
OPEB
Other comprehensive income (loss), net of tax:
Pension and other postretirement benefit plan	$ (0.7)	$ (0.8)	$ (0.9)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Preferred stock	Preferred stock Cumulative Effect, Period of Adoption, Adjusted Balance	Common stock	Common stock Cumulative Effect, Period of Adoption, Adjusted Balance	Additional paid-in capital	Additional paid-in capital Cumulative Effect, Period of Adoption, Adjusted Balance	Retained earnings (deficit)	Retained earnings (deficit) Cumulative Effect, Period of Adoption, Adjustment	Retained earnings (deficit) Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Cumulative Effect, Period of Adoption, Adjusted Balance	Treasury stock	Treasury stock Cumulative Effect, Period of Adoption, Adjusted Balance	Non-controlling interest	Non-controlling interest Cumulative Effect, Period of Adoption, Adjustment	Non-controlling interest Cumulative Effect, Period of Adoption, Adjusted Balance
Balance at Dec. 31, 2017	$ 766.7	$ 5.0	$ 771.7	$ 667.3	$ 667.3	$ 0.3	$ 0.3	$ 3.3	$ 3.3	$ (17.9)	$ 2.7	$ (15.2)	$ (179.0)	$ (179.0)	$ (49.6)	$ (49.6)	$ 342.3	$ 2.3	$ 344.6
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201409Member
Net income	$ 301.0									262.2							38.8
Cash dividends	(27.1)							(0.4)		(26.7)
Dividends paid to noncontrolling interest	(20.1)																(20.1)
Other comprehensive income (loss), net	(37.1)												(27.3)				(9.8)
Equity transactions with noncontrolling interest, net	0.6							0.4					0.1				0.1
Balance at Dec. 31, 2018	989.0			667.3		0.3		3.3		220.3			(206.2)		(49.6)		353.6
Net income	78.2									49.2							29.0
Cash dividends	(27.2)							(0.3)		(26.9)
Dividends paid to noncontrolling interest	(37.7)																(37.7)
Other comprehensive income (loss), net	(19.9)												(14.5)				(5.4)
Equity transactions with noncontrolling interest, net	(2.3)							0.3		(3.2)							0.6
Balance at Dec. 31, 2019	980.1			667.3		0.3		3.3		239.4			(220.7)		(49.6)		340.1
Net income	89.0									55.2							33.8
Cash dividends	(13.6)							(2.2)		(11.4)
Dividends paid to noncontrolling interest	(49.4)																(49.4)
Other comprehensive income (loss), net	1.4												1.3				0.1
Contribution of preferred stock				$ (667.3)				667.3
Equity transactions with noncontrolling interest, net	(0.6)							(0.1)		(0.3)							(0.2)
Balance at Dec. 31, 2020	$ 1,006.9					$ 0.3		$ 668.3		$ 282.9			$ (219.4)		$ (49.6)		$ 324.4

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Stockholders Equity [Abstract]
Cash dividends per share	$ 0.48	$ 0.96	$ 0.96

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 89.0	$ 78.2	$ 301.0
Depreciation and amortization	68.5	56.8	58.4
Net (gain) loss from:
Sale of business	(4.9)	(3.0)	(58.4)
Land sales	(0.5)	(4.4)	(12.5)
Securities transactions, net	0.1	(0.3)	(12.4)
Disposal of property and equipment, net	0.2	0.3	0.3
Noncash interest expense	2.9	2.4	2.0
Benefit plan expense greater than cash funding	15.2	8.9	5.7
Deferred income taxes	(7.0)	7.4	(73.5)
Distributions from (contributions to) TiO2 manufacturing joint venture, net	(12.8)	(9.3)	4.0
Other, net	8.0	7.7	13.9
Change in assets and liabilities:
Accounts and other receivables, net	(3.1)	8.6	(11.1)
Land held for development, net	16.8	1.1	7.8
Inventories, net	13.1	(8.5)	(137.3)
Accounts payable and accrued liabilities	(32.8)	(14.6)	65.7
Income taxes	6.5	(1.4)	(18.2)
Accounts with affiliates	(4.3)	(1.2)	19.5
Other noncurrent assets	(49.5)	(6.1)	2.6
Other noncurrent liabilities	53.5	54.2	13.0
Other, net	(6.7)	0.4	(5.0)
Net cash provided by operating activities	152.2	177.2	165.5
Cash flows from investing activities:
Capital expenditures	(65.5)	(59.9)	(61.4)
Proceeds from sale of business	4.9	2.9
Cash, cash equivalents and restricted cash and cash equivalents of business at time of sale		(0.5)	(28.9)
Purchases of marketable securities	(3.4)	(4.9)	(4.4)
Proceeds from land sales		4.6	19.5
Proceeds from disposal of marketable securities	4.3	4.3	18.2
Other, net	2.7	2.8
Net cash used in investing activities	(57.0)	(50.7)	(57.0)
Indebtedness:
Borrowings		14.9
Principal payments	(58.5)	(11.2)	(12.6)
Valhi cash dividends paid	(13.6)	(27.1)	(27.1)
Distributions to noncontrolling interest in subsidiaries	(49.4)	(37.6)	(20.1)
Subsidiary treasury stock acquired	(1.0)	(3.1)
Net cash used in financing activities	(122.5)	(64.1)	(59.8)
Cash, cash equivalents and restricted cash and cash equivalents - net change from operating, investing and financing activities	(27.3)	62.4	48.7
Effect of exchange rates on cash	13.8	(2.3)	(14.4)
Net change for the year	(13.5)	60.1	34.3
Balance at beginning of year	583.8	523.7	489.4
Balance at end of year	570.3	583.8	523.7
Cash paid for:
Interest, net of amounts capitalized	33.1	37.9	53.9
Income taxes, net	24.1	33.4	68.5
Noncash investing activities:
Changes in accruals for capital expenditures	$ 5.9	9.1	5.4
Sale of investment in Amalgamated Sugar Company LLC			250.0
Receivable from sale of business		$ 0.3
Noncash financing activities:
Trade payable to affiliate converted to indebtedness			36.3
Deemed repayment of Snake River Sugar Company indebtedness			$ (250.0)

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1—Summary of significant accounting policies:

Nature of our business. Valhi, Inc. (NYSE: VHI) is primarily a holding company. We operate through our wholly-owned and majority-owned subsidiaries, including NL Industries, Inc., Kronos Worldwide, Inc., CompX International Inc., Tremont LLC, Basic Management, Inc. (“BMI”) and The LandWell Company (“LandWell”). Kronos (NYSE: KRO), NL (NYSE: NL) and CompX (NYSE American: CIX) each file periodic reports with the Securities and Exchange Commission (“SEC”). In January 2018, we sold Waste Control Specialists LLC (“WCS”), see Note 3.

Organization. We are majority owned by a wholly-owned subsidiary of Contran Corporation (“Contran”), which owns approximately 92% of our outstanding common stock at December 31, 2020. A majority of Contran's outstanding voting stock is held directly by Lisa K. Simmons and various family trusts established for the benefit of Ms. Simmons, Thomas C. Connelly (the husband of Ms. Simmons’ late sister) and their children and for which Ms. Simmons or Mr. Connelly, as applicable, serve as trustee (collectively, the “Other Trusts”). With respect to the Other Trusts for which Mr. Connelly serves as trustee, he is required to vote the shares of Contran voting stock held in such trusts in the same manner as Ms. Simmons. Such voting rights of Ms. Simmons last through April 22, 2030 and are personal to Ms. Simmons. The remainder of Contran’s outstanding voting stock is held by another trust (the “Family Trust”), which was established for the benefit of Ms. Simmons and her late sister and their children and for which a third-party financial institution serves as trustee. Consequently, at December 31, 2020, Ms. Simmons and the Family Trust may be deemed to control Contran and us.

Our results of operations in 2020 were significantly impacted by the COVID-19 pandemic, primarily in the second and third quarters, specifically through reduced demand for many of our products resulting from the rapid contraction of vast areas of the global economy. The extent of the impact of the COVID-19 pandemic on our future operations will depend on the time period and degree to which the COVID-19 pandemic persists in the global economy, including the timing and extent to which our customers’ operations continue to be impacted, our customers’ perception as to when consumer demand for their products will return to pre-pandemic levels and on any future disruptions in our operations or our suppliers’ operations, all of which are difficult to predict.

Unless otherwise indicated, references in this report to “we,” “us” or “our” refer to Valhi, Inc. and its subsidiaries, taken as a whole.

Management’s estimates. The preparation of our Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires us to make estimates and assumptions that affect the reported amounts of our assets and liabilities and disclosures of contingent assets and liabilities at each balance sheet date and the reported amounts of our revenues and expenses during each reporting period. Actual results may differ significantly from previously-estimated amounts under different assumptions or conditions.

Principles of consolidation. Our Consolidated Financial Statements include the financial position, results of operations and cash flows of Valhi and our majority-owned and wholly-owned subsidiaries. We eliminate all material intercompany accounts and balances. Changes in ownership are accounted for as equity transactions with no gain or loss recognized on the transaction unless there is a change in control.

Foreign currency translation. The financial statements of our foreign subsidiaries are translated to U.S. dollars. The functional currency of our foreign subsidiaries is generally the local currency of the country. Accordingly, we translate the assets and liabilities at year-end exchange rates, while we translate their revenues and expenses at average exchange rates prevailing during the year. We accumulate the resulting translation adjustments in stockholders’ equity as part of accumulated other comprehensive income (loss), net of related deferred income taxes and noncontrolling interest. We recognize currency transaction gains and losses in income.

Cash and cash equivalents. We classify bank time deposits and highly-liquid investments with original maturities of three months or less as cash equivalents.

Restricted cash and cash equivalents. We classify cash and cash equivalents that have been segregated or are otherwise limited in use as restricted. Such restrictions principally include amounts pledged as collateral with respect to performance obligations or letters of credit required by regulatory agencies for various environmental remediation sites, cash held in escrow under various hold-back agreements with third-party homebuilders associated with our Real Estate Management and Development Segment and cash pledged under debt agreement covenants or legal settlements. To the extent the restricted amount relates to a recognized liability, we classify the

restricted amount as current or noncurrent according to the corresponding liability. To the extent the restricted amount does not relate to a recognized liability, we classify restricted cash as a current asset. Restricted cash and cash equivalents classified as a current asset are presented separately on our Consolidated Balance Sheets, and restricted cash and cash equivalents classified as a noncurrent asset are presented as a component of other assets on our Consolidated Balance Sheets, as disclosed in Note 7.

Marketable securities and securities transactions. We carry marketable debt and equity securities at fair value. ASC Topic 820, Fair Value Measurements and Disclosures, establishes a consistent framework for measuring fair value and (with certain exceptions) this framework is generally applied to all financial statement items required to be measured at fair value. The standard requires fair value measurements to be classified and disclosed in one of the following three categories:

●

Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

●

Level 2—Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the assets or liability; and

●

Level 3—Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable.

We classify all of our marketable securities as available-for-sale. Any unrealized gains or losses on our marketable securities are recognized in Marketable equity securities on our Consolidated Statements of Income. See Notes 6 and 19. We base realized gains and losses upon the specific identification of the securities sold.

Accounts receivable. We provide an allowance for doubtful accounts for known and estimated potential losses arising from our sales to customers based on a periodic review of these accounts.

Inventories and cost of sales. We state inventories at the lower of cost or net realizable value. We generally base inventory costs for all inventory categories on average cost that approximates the first-in, first-out method. Inventories include the costs for raw materials, the cost to manufacture the raw materials into finished goods and overhead. Depending on the inventory’s stage of completion, our manufacturing costs can include the costs of packing and finishing, utilities, maintenance, depreciation, shipping and handling, and salaries and benefits associated with our manufacturing process. We allocate fixed manufacturing overhead costs based on normal production capacity. Unallocated overhead costs resulting from periods with abnormally low production levels are charged to expense as incurred. As inventory is sold to third parties, we recognize the cost of sales in the same period the sale occurs. We periodically review our inventory for estimated obsolescence or instances when inventory is no longer marketable for its intended use, and we record any write-down equal to the difference between the cost of inventory and its estimated net realizable value based on assumptions about alternative uses, market conditions and other factors.

Land held for development. Land held for development relates to BMI and LandWell. The primary asset of LandWell is certain real property in Henderson, Nevada some of which we are developing for residential lots in a master planned community. Land held for development was recorded at the estimated acquisition date fair value based on a value per developable acre at the time of purchase. Development costs, including infrastructure improvements, real estate taxes, capitalized interest and other costs, some of which may be allocated, are capitalized during the period incurred. We allocate costs to each parcel sold on a pro-rata basis associated with the relevant development activity, and the land basis of parcels expected to be sold within one year are presented separately in current assets on our Consolidated Balance Sheets. As land parcels are sold, costs of land sales, including land and development costs, are allocated based on specific identification, relative sales value, square footage or a combination of these methods. All sales and marketing activities and general overhead are charged to selling, general and administrative expense as incurred.

Investment in TiO₂ manufacturing joint venture. We account for our investment in a 50%-owned manufacturing joint venture by the equity method. Distributions received from such investee are classified for statement of cash flow purposes using the “nature of distribution” approach under ASC Topic 230. See Note 7.

Leases. We enter into various arrangements (or leases) that convey the rights to use and control identified underlying assets for a period of time in exchange for consideration. We lease various manufacturing facilities, land and equipment. From time to time, we may also enter into an arrangement in which the right to use and control an identified underlying asset is embedded in another type of contract.

We determine if an arrangement is a lease (including leases embedded in another type of contract) at inception. All of our leases are classified as operating leases. Operating leases are included in operating lease right-of-use assets, current operating lease liabilities and noncurrent operating lease liabilities in our Consolidated Balance Sheet. See Note 7. As permitted by ASC Topic 842, Leases , we elected the practical expedients related to nonlease components (in which nonlease components associated with a lease and

paid by us to the lessor, such as property taxes, insurance and maintenance, are treated as a lease component and considered part of minimum lease rental payments), and short-term leases (in which leases with an original maturity of 12 months or less are excluded from the recognition requirements of ASC 842).

Right-of-use assets represent our right to use an underlying asset for the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. The right-of-use operating lease assets and liabilities are recognized based on the estimated present value of lease payments over the lease term as of the respective lease commencement dates. We use an estimated incremental borrowing rate to determine the present value of lease payments (unless we can determine the rate implicit in the lease, which is generally not the case). Our incremental borrowing rate for each of our leases is derived from available information, including our current debt and credit facilities and U.S. and European yield curves as well as publicly available data for instruments with similar characteristics, adjusted for factors such as collateralization and term.

Our leases generally do not include termination or purchase options. Certain of our leases include an option to renew the lease after expiration of the initial lease term, but we have not included such renewal periods in our lease term because it is not reasonably certain that we would exercise the renewal option. Our leases generally have fixed lease payments, with no contingent or incentive payments. Certain of our leases include variable lease payments that depend on a specified index or rate. Our lease agreements do not contain any residual value guarantees.

Goodwill and other intangible assets; amortization expense. Goodwill represents the excess of cost over fair value of individual net assets acquired in business combinations. Goodwill is not subject to periodic amortization. We amortize other intangible assets by the straight-line method over their estimated lives and state them net of accumulated amortization. We evaluate goodwill for impairment, annually or when events or changes in circumstances indicate the carrying value may not be recoverable. We evaluate other intangible assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. See Note 8.

Property and equipment; depreciation expense. We state property and equipment at acquisition cost, including capitalized interest on borrowings during the actual construction period of major capital projects. In 2018, 2019 and 2020 we capitalized $1.1 million, $.8 million and $.8 million, respectively, of interest costs. We compute depreciation of property and equipment for financial reporting purposes (including mining equipment) principally by the straight-line method over the estimated useful lives of the assets as follows:

Asset		Useful lives
Buildings and improvements		10 to 40 years
Machinery and equipment		3 to 20 years
Mine development costs		Units-of-production

We use accelerated depreciation methods for income tax purposes, as permitted. Upon the sale or retirement of an asset, we remove the related cost and accumulated depreciation from the accounts and recognize any gain or loss in income currently.

We expense expenditures for maintenance, repairs and minor renewals as incurred that do not improve or extend the life of the assets, including planned major maintenance.

We have a governmental concession with an unlimited term to operate our ilmenite mines in Norway. Mining properties consist of buildings and equipment used in our Norwegian ilmenite mining operations. While we own the land and ilmenite reserves associated with the mining operations, such land and reserves were acquired for nominal value and we have no material asset recognized for the land and reserves related to our mining operations.

We perform impairment tests when events or changes in circumstances indicate the carrying value may not be recoverable. We consider all relevant factors. We perform the impairment test by comparing the estimated future undiscounted cash flows (exclusive of interest expense) associated with the asset or asset group to the asset’s net carrying value to determine if a write-down to fair value is required.

Long-term debt. We state long-term debt net of any unamortized original issue premium, discount or deferred financing costs (other than deferred financing costs associated with revolving credit facilities, which are recognized as an asset). We classify amortization of deferred financing costs and any premium or discount associated with the issuance of indebtedness as interest expense, and compute amortization by either the interest method or the straight-line method over the term of the applicable issue. See Note 9.

Employee benefit plans. Accounting and funding policies for our defined benefit pension and defined contribution retirement plans are described in Note 11. We also provide certain postretirement benefits other than pensions (OPEB), consisting of health care and life insurance benefits, to certain U.S. and Canadian retired employees, which are not material. See Note 10.

Income taxes. We and our qualifying subsidiaries are members of Contran’s consolidated U.S federal income tax group (the “Contran Tax Group”). We and certain of our qualifying subsidiaries also file consolidated income tax returns with Contran in various U.S. state jurisdictions. As a member of the Contran Tax Group, we are jointly and severally liable for the federal income tax liability of Contran and the other companies included in the Contran Tax Group for all periods in which we are included in the Contran Tax Group. See Note 17. As a member of the Contran Tax Group, we are a party to a tax sharing agreement which provides that we compute our tax provision for U.S. income taxes on a separate-company basis using the tax elections made by Contran. Pursuant to the tax sharing agreement, we make payments to or receive payments from Contran in amounts we would have paid to or received from the U.S. Internal Revenue Service or the applicable state tax authority had we not been a member of the Contran Tax Group. We received net cash payments for income taxes from Contran of $5.8 million in 2018 and made cash payments for income taxes to Contran of $7.4 million and $6.3 million in 2019 and 2020, respectively.

We recognize deferred income tax assets and liabilities for the expected future tax consequences of temporary differences between the income tax and financial reporting carrying amounts of assets and liabilities, including investments in our subsidiaries and affiliates who are not members of the Contran Tax Group and undistributed earnings of our Chemicals Segment’s non-U.S. subsidiaries which are not deemed to be permanently reinvested. At December 31, 2020, we continue to assert indefinite reinvestment as it relates to our outside basis difference attributable to our Chemicals Segment’s investments in non-U.S. subsidiaries, other than post-1986 undistributed earnings of our Chemicals Segment’s European subsidiaries and all undistributed earnings of our Chemicals Segment’s Canadian subsidiary, which are not subject to permanent reinvestment plans. It is not practical for us to determine the amount of the unrecognized deferred income tax liability related to our investments in our Chemicals Segment’s non-U.S. subsidiaries which are permanently reinvested due to the complexities associated with our organizational structure, changes in the Tax Cuts and Jobs Act (2017 Tax Act) and the U.S. taxation of such investments in the states in which we operate. Deferred income tax assets and liabilities for each tax-paying jurisdiction in which we operate are netted and presented as either a noncurrent deferred income tax asset or liability, as applicable. We periodically evaluate our deferred tax assets in the various taxing jurisdictions in which we operate and adjust any related valuation allowance based on the estimate of the amount of such deferred tax assets that we believe does not meet the more-likely-than-not recognition criteria.

The U.S. Federal tax code imposes a tax on global intangible low-tax income (GILTI). We record GILTI tax as a current period expense when incurred under the period cost method. While our future global operations depend on a number of different factors, we do expect to have future U.S. inclusions in taxable income related to GILTI.

We account for the tax effects of a change in tax law as a component of the income tax provision related to continuing operations in the period of enactment, including the tax effects of any deferred income taxes originally established through a financial statement component other than continuing operations (i.e. other comprehensive income). Changes in applicable income tax rates over time as a result of changes in tax law, or times in which a deferred income tax asset valuation allowance is initially recognized in one year and subsequently reversed in a later year, can give rise to “stranded” tax effects in accumulated other comprehensive income in which the net accumulated income tax (benefit) remaining in accumulated other comprehensive income does not correspond to the then-applicable income tax rate applied to the pre-tax amount which resides in accumulated other comprehensive income. As permitted by GAAP, our accounting policy is to remove any such stranded tax effect remaining in accumulated other comprehensive income, by recognizing an offset to our provision for income taxes related to continuing operations, only at the time when there is no remaining pre-tax amount in accumulated other comprehensive income. For accumulated other comprehensive income related to currency translation, this would occur only upon the sale or complete liquidation of one of our Chemicals Segment’s non-U.S. subsidiaries. For defined pension benefit plans and OPEB plans, this would occur whenever one of our subsidiaries which previously sponsored a defined benefit pension or OPEB plan had terminated such a plan and had no future obligation or plan asset associated with such a plan.

We record a reserve for uncertain tax positions where we believe it is more-likely-than-not our position will not prevail with the applicable tax authorities. The amount of the benefit associated with our uncertain tax positions that we recognize is limited to the largest amount for which we believe the likelihood of realization is greater than 50%. We accrue penalties and interest on the difference between tax positions taken on our tax returns and the amount of benefit recognized for financial reporting purposes. We classify our reserves for uncertain tax positions in a separate current or noncurrent liability, depending on the nature of the tax position. See Note 14.

Environmental remediation and related costs. We record liabilities related to environmental remediation and related costs when estimated future expenditures are probable and reasonably estimable. We adjust these accruals as further information becomes available to us or as circumstances change. We generally do not discount estimated future expenditures to their present value due to the uncertainty of the timing of the ultimate payout. We recognize any recoveries of remediation costs from other parties when we deem their receipt to be probable. We expense any environmental remediation related legal costs as incurred. At December 31, 2019 and 2020 we had not recognized any material receivables for recoveries. See Note 18.

Revenue recognition. Chemicals and Component Products Segments - Our sales involve single performance obligations to ship our products pursuant to customer purchase orders. In some cases, the purchase order is supported by an underlying master sales agreement, but our purchase order acceptance generally evidences the contract with our customer by specifying the key terms of product and quantity ordered, price and delivery and payment terms. In accordance with ASC 606, Revenue from Contracts with Customers, we record revenue when we satisfy our performance obligations to our customers by transferring control of our products to them, which generally occurs at point of shipment or upon delivery. Such transfer of control is also evidenced by transfer of legal title and other risks and rewards of ownership (giving the customer the ability to direct the use of, and obtain substantially all of the benefits of, the product), and our customers becoming obligated to pay us and it is probable we will receive payment. In certain arrangements we provide shipping and handling activities after the transfer of control to our customer (e.g. when control transfers prior to delivery). In such arrangements shipping and handling are considered fulfillment activities, and accordingly, such costs are accrued when the related revenue is recognized.

Revenue is recorded in an amount that reflects the net consideration we expect to receive in exchange for our products. Prices for our products are based on terms specified in published list prices and purchase orders, which generally do not include financing components, noncash consideration or consideration paid to our customers. As our standard payment terms are less than one year, we have elected the practical expedient under ASC 606 and we have not assessed whether a contract has a significant financing component. We state sales net of price, early payment and distributor discounts as well as volume rebates (collectively, variable consideration). Variable consideration, to the extent present, is recognized as the amount to which we are most-likely to be entitled, using all information (historical, current and forecasted) that is reasonably available to us, and only to the extent that a significant reversal in the amount of the cumulative revenue recognized is not probable of occurring in a future period. Differences, if any, between estimates of the amount of variable consideration to which we will be entitled and the actual amount of such variable consideration have not been material in the past. We report any tax assessed by a governmental authority that we collect from our customers that is both imposed on and concurrent with our revenue-producing activities (such as sales, use, value added and excise taxes) on a net basis (meaning we do not recognize these taxes either in our revenues or in our costs and expenses).

Frequently, we receive orders for products to be delivered over dates that may extend across reporting periods. We invoice for each delivery upon shipment and recognize revenue for each distinct shipment when all sales recognition criteria for that shipment have been satisfied. As scheduled delivery dates for these orders are within a one year period, under the optional exemption provided by ASC 606, we do not disclose sales allocated to future shipments of partially completed contracts.

Real Estate Management and Development Segment – Revenues from our Real Estate Management and Development Segment involve providing utility services, among other things, to an industrial park located in Henderson, Nevada and we are responsible for the delivery of water to the City of Henderson and various other users through a water distribution system we own. These sales involve single performance obligations and we record revenue when we satisfy our performance obligations to our customers generally after the service is performed and our customers become obligated to pay us and it is probable we will receive payment. Revenue is recorded in an amount that reflects the net consideration we expect to receive in exchange for our services. Prices for our products are based on contracted rates and do not include financing components, noncash consideration or consideration paid to our customers. As our standard payment terms are less than one year, we have elected the practical expedient under ASC 606 and we have not assessed whether a contract has a significant financing component.

Our revenues also are related to efforts to develop certain real estate in Henderson, Nevada, including approximately 2,100 acres zoned for residential/planned community purposes and approximately 400 acres zoned for commercial and light industrial use. Contracts for land sales are negotiated on an individual basis, involve single performance obligations, and generally require us to complete property development and improvements after title passes to the buyer and we have received all or a substantial portion of the selling price. We recognize land sales revenue associated with the residential/planned community over time using cost based input methods. Land sales associated with the residential/planned community have variable consideration components which are based on a percentage of the builder’s ultimate selling price of a residential housing unit to their customer (generally 3.5% of such sales price). The amount we recognize when a parcel is sold to a home builder is the amount to which we are most-likely to be entitled, using all information (historical, current and forecasted) that is reasonably available to us, and only to the extent that a significant reversal in the amount of the cumulative revenue recognized is not probable of occurring in a future period. By recognizing revenue over time using cost based input methods, revenues (including variable consideration) and profits are recognized in the same proportion of our progress towards completion of our contractual obligations, with our progress measured by costs incurred as a percentage of total costs estimated to be incurred relative to the parcels sold. Estimates of total costs expected to be incurred require significant management judgment, and the amount of revenue and profits that have been recognized to date are subject to revisions throughout the development period. The impact on the amount of revenue recognized resulting from any future change in the estimate of total costs estimated to be incurred would be accounted for prospectively in accordance with GAAP. We record estimated deferred revenue on the amount to which we are most-likely to be entitled and deferred revenue is recognized into revenue as the housing units are sold.

Selling, general and administrative expenses; shipping and handling costs; advertising costs; research and development costs. Selling, general and administrative expenses include costs related to marketing, sales, distribution, shipping and handling, research and development, legal, environmental remediation and administrative functions such as accounting, treasury and finance, and includes costs for salaries and benefits not associated with our manufacturing process, travel and entertainment, promotional materials and professional fees. Shipping and handling costs of our Chemicals Segment were approximately $105 million in 2018, $111 million in 2019 and $112 million in 2020. Shipping and handling costs of our Component Products segment are not material. We expense advertising and research and development costs as incurred. Advertising costs were approximately $1 million in 2018, $2 million in 2019 and $1 million in 2020. Research, development and certain sales technical support costs were approximately $16 million in 2018, $17 million in 2019 and $16 million in 2020.

Business and Geographic Segments

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Business and Geographic Segments

Note 2—Business and geographic segments:

Business segment	Entity	% controlled at December 31 2020
Chemicals	Kronos	80	%
Component products	CompX	86	%
Real estate management and development	BMI and LandWell	63% - 77	%

Our control of Kronos includes 50% we hold directly and 30% held directly by NL. We own 83% of NL. Our control of CompX is through NL. We own 63% of BMI. Our control of LandWell includes the 27% we hold directly and 50% held by BMI. See Note 3.

We are organized based upon our operating subsidiaries. Our operating segments are defined as components of our consolidated operations about which separate financial information is available that is regularly evaluated by our chief operating decision maker in determining how to allocate resources and in assessing performance. Each operating segment is separately managed and each operating segment represents a strategic business unit offering different products.

We have the following three consolidated reportable operating segments.

●

Chemicals—Our Chemicals Segment is operated through our majority control of Kronos. Kronos is a leading global producer and marketer of value-added titanium dioxide pigments (“TiO₂”). TiO₂ is used to impart whiteness, brightness, opacity and durability to a wide variety of products, including paints, plastics, paper, fibers and ceramics. Additionally, TiO₂is a critical component of everyday applications, such as coatings, plastics and paper, as well as many specialty products such as inks, foods and cosmetics. See Note 7.

●

Component Products—We operate in the component products industry through our majority control of CompX. CompX is a leading manufacturer of security products used in the recreational transportation, postal, office and institutional furniture, tool storage, healthcare and a variety of other industries. CompX is also a leading manufacturer of stainless steel exhaust systems, gauges, throttle controls, wake enhancement systems, trim tabs and related hardware and accessories for the recreational marine industry. All CompX production facilities are in the United States.

●

Real Estate Management and Development—We operate in real estate management and development through our majority control of BMI and LandWell. BMI provides utility services to certain industrial and municipal customers and owns real property in Henderson, Nevada. LandWell is engaged in efforts to develop certain land holdings for commercial, industrial and residential purposes in Henderson, Nevada.

We evaluate segment performance based on segment operating income, which we define as income before income taxes and interest expense, exclusive of certain non-recurring items (such as gains or losses on disposition of business units and other long-lived assets outside the ordinary course of business and certain legal settlements) and certain general corporate income and expense items (including securities transactions gains and losses and interest and dividend income), which are not attributable to the operations of the reportable operating segments. The accounting policies of our reportable operating segments are the same as those described in Note 1. Segment results we report may differ from amounts separately reported by our various subsidiaries and affiliates due to purchase accounting adjustments and related amortization or differences in how we define operating income. Intersegment sales are not material.

Interest income included in the calculation of segment operating income is not material in 2018, 2019 or 2020. Capital expenditures include additions to property and equipment. Depreciation and amortization related to each reportable operating segment

includes amortization of any intangible assets attributable to the segment. Amortization of deferred financing costs and any premium or discount associated with the issuance of indebtedness is included in interest expense.

Segment assets are comprised of all assets attributable to each reportable operating segment, including goodwill and other intangible assets. Our investment in the TiO₂ manufacturing joint venture (see Note 7) is included in the Chemicals Segment’s assets. Corporate assets are not attributable to any operating segment and consist principally of cash and cash equivalents, restricted cash and restricted cash equivalents and marketable securities.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net sales:
Chemicals	$	1,661.9		$	1,731.2		$	1,638.8
Component products		118.2			124.2			114.5
Real estate management and development		40.0			42.1			96.4
Total net sales	$	1,820.1		$	1,897.5		$	1,849.7
Cost of sales:
Chemicals	$	1,101.7		$	1,346.8		$	1,291.0
Component products		79.9			85.3			81.7
Real estate management and development		29.3			30.8			64.9
Total cost of sales	$	1,210.9		$	1,462.9		$	1,437.6
Gross margin:
Chemicals	$	560.2		$	384.4		$	347.8
Component products		38.3			38.9			32.8
Real estate management and development		10.7			11.3			31.5
Total gross margin	$	609.2		$	434.6		$	412.1
Operating income:
Chemicals	$	342.9		$	160.1		$	126.5
Component products		17.8			17.8			11.8
Real estate management and development		10.0			14.8			47.8
Total operating income		370.7			192.7			186.1
General corporate items:
Securities earnings		38.5			11.2			4.7
Insurance recoveries		1.3			7.7			1.6
Gain on land sales		12.5			4.4			.5
Gain on sale of business		-			3.0			-
Other components of net periodic pension and OPEB expense		(14.5	)		(16.5	)		(20.1	)
Litigation settlement expense, net		(62.0	)		(19.3	)		-
Changes in market value of Valhi common stock held by subsidiaries		(12.2	)		(.2	)		(1.7	)
General expenses, net		(42.4	)		(37.5	)		(34.3	)
Interest expense		(55.7	)		(40.8	)		(36.2	)
Income from continuing operations before income taxes	$	236.2		$	104.7		$	100.6

Infrastructure reimbursements and land related income is included in the determination of Real Estate Management and Development operating income. See Notes 7 and 13.

	Years ended December 31,
	2018		2019		2020
	(In millions)
Depreciation and amortization:
Chemicals	$	52.0	$	50.2	$	61.9
Component products		3.5		3.7		3.8
Real estate management and development		2.9		2.9		2.8
Total	$	58.4	$	56.8	$	68.5
Capital expenditures:
Chemicals	$	56.3	$	55.1	$	62.8
Component products		3.1		3.2		1.7
Waste management⁽¹⁾		.1		-		-
Real estate management and development		1.9		1.6		1.0
Total	$	61.4	$	59.9	$	65.5

	December 31,
	2018		2019		2020
	(In millions)
Total assets:
Operating segments:
Chemicals	$	2,266.6	$	2,331.8	$	2,400.7
Component products		120.4		132.5		138.0
Real estate management and development		218.5		191.6		171.3
Corporate and eliminations		104.1		138.5		179.3
Total	$	2,709.6	$	2,794.4	$	2,889.3

⁽¹⁾Denotes discontinued operations

Geographic information. We attribute net sales to the place of manufacture (point-of-origin) and the location of the customer (point-of-destination); we attribute property and equipment to their physical location. At December 31, 2020 the net assets of our non-U.S. subsidiaries included in consolidated net assets approximated $565 million (in 2019 the total was $563 million).

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net sales - point of origin:
United States	$	997.6		$	1,164.8		$	1,189.8
Germany		886.1			883.6			836.0
Canada		307.2			328.7			319.5
Belgium		272.2			270.7			249.5
Norway		209.6			192.2			211.8
Eliminations		(852.6	)		(942.5	)		(956.9	)
Total	$	1,820.1		$	1,897.5		$	1,849.7
Net sales - point of destination:
North America	$	698.7		$	740.1		$	778.2
Europe		817.6			824.2			783.8
Asia and other		303.8			333.2			287.7
Total	$	1,820.1		$	1,897.5		$	1,849.7

	December 31,
	2018		2019		2020
	(In millions)
Net property and equipment:
United States	$	74.5	$	72.0	$	67.8
Germany		245.8		233.6		237.5
Canada		66.1		73.1		88.6
Norway		81.0		87.9		88.1
Belgium		96.1		96.4		108.4
Total	$	563.5	$	563.0	$	590.4

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Business Combinations, Dispositions and Related Transactions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Combinations, Dispositions and Related Transactions

Note 3—Business combinations, dispositions and related transactions:

Kronos Worldwide, Inc.

Prior to 2018, Kronos’ board of directors authorized the repurchase of up to 2.0 million shares of its common stock in open market transactions, including block purchases, or in privately-negotiated transactions at unspecified prices and over an unspecified period of time. Kronos may repurchase its common stock from time to time as market conditions permit. The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on market conditions, Kronos may terminate the program prior to its completion. Kronos uses cash on hand or other sources of liquidity to acquire the shares. Repurchased shares are added to Kronos’ treasury shares and subsequently cancelled upon approval of the Kronos board of directors. Kronos did not make any repurchases under the plan during 2018. In 2019 and 2020, Kronos acquired 264,992 and 122,489 shares, respectively, of its common stock in market transactions for an aggregate purchase price of $3.0 million and $1.0 million, respectively, and subsequently cancelled all of such shares. At December 31, 2020 approximately 1.56 million shares are available for repurchase under these authorizations.

CompX International Inc.

Prior to 2018, CompX’s board of directors authorized various repurchases of its Class A common stock in open market transactions, including block purchases, or in privately-negotiated transactions at unspecified prices and over an unspecified period of time. CompX may repurchase its common stock from time to time as market conditions permit. The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on market conditions, CompX may terminate the program prior to its completion. CompX would generally use cash on hand to acquire the shares. Repurchased shares will be added to CompX’s treasury and cancelled. CompX did not make any repurchases under the plan during 2018, 2019 or 2020, and at December 31, 2020 approximately 678,000 shares were available for purchase under these authorizations.

Discontinued Operations —Waste Control Specialists LLC

Pursuant to an agreement we entered into in December 2017, on January 26, 2018 we completed the sale of our Waste Management Segment to JFL-WCS Partners, LLC ("JFL Partners"), an entity sponsored by certain investment affiliates of J.F. Lehman & Company, for consideration consisting of the assumption of all of WCS' third-party indebtedness and other liabilities. We recognized a pre-tax gain of approximately $58 million primarily in the first quarter of 2018 on the transaction ($34.7 million, or $1.22 per diluted share, net of tax) because the carrying value of the liabilities of the business assumed by the purchaser exceeded the carrying value of the assets sold at the time of the sale in large part due to the previously-reported long-lived asset impairment of $170.6 million recognized in the second quarter of 2017. We recognized a pre-tax gain of $4.9 million ($4.3 million or $.15 per diluted share, net of tax) in the fourth quarter of 2020 related to proceeds received from JFL Partners in final settlement of an earn-out provision in the sale agreement. Our Waste Management Segment, which operated in the low-level radioactive, hazardous, toxic and other waste disposal industry historically struggled to generate sufficient recurring disposal volumes to generate positive operating results or cash flows. The sale enabled us to focus more effort on continuing to develop our remaining segments which we believe have greater opportunity for higher returns.

In accordance with GAAP, the Waste Management Segment has been reclassified as discontinued operations in our Consolidated Statements of Income. Also in accordance with GAAP, we have not reclassified our Consolidated Statement of Cash Flows to reflect the Waste Management Segment as discontinued operations.

Selected financial data for the operations of the disposed Waste Management Segment for the period prior to completing the sale is presented below.

	Year ended
	December 31,
	2018
	(In millions)

Net sales:	$	4.6

Operating loss	$	(.4	)
Termination fee		-
Other expense, net		-
Interest expense, net		(.3	)
Loss before taxes		(.7	)
Income tax benefit		(.1	)
Net loss	$	(.6	)

Pre-tax gain on disposal	$	58.4
Income tax expense		23.7
After-tax gain on disposal		34.7

Total	$	34.1

Net cash provided by operating activities	$	2.3

Net cash used in investing activities		(.1	)

Accounts and Other Receivables, Net

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts and Other Receivables, Net

Note 4—Accounts and other receivables, net:

	December 31,
	2019			2020
	(In millions)
Trade accounts receivable:
Kronos	$	270.5		$	294.8
CompX		11.9			10.8
BMI/LandWell		1.6			1.2
VAT and other receivables		31.2			27.2
Allowance for doubtful accounts		(1.2	)		(1.9	)
Total	$	314.0		$	332.1

Inventories, Net

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories, Net

Note 5—Inventories, net:

	December 31,
	2019		2020
	(In millions)
Raw materials:
Chemicals	$	124.4	$	133.2
Component products		2.9		3.2
Total raw materials		127.3		136.4
Work in process:
Chemicals		39.0		36.8
Component products		11.8		11.7
Total in-process products		50.8		48.5
Finished products:
Chemicals		270.7		270.0
Component products		3.6		3.5
Total finished products		274.3		273.5
Supplies (chemicals)		69.7		79.8
Total	$	522.1	$	538.2

Marketable Securities

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Marketable Securities

Note 6—Marketable securities:

	Market value		Cost basis		Unrealized gains (losses), net
	(In millions)
December 31, 2019:
Current assets	$	2.1	$	2.1	$	-

Noncurrent assets	$	6.2	$	6.2	$	-
December 31, 2020:
Current assets	$	4.4	$	4.4	$	-

Noncurrent assets	$	2.9	$	2.9	$	-

	Fair Value Measurements
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
December 31, 2019:
Current assets	$	2.1	$	-	$	2.1
Noncurrent assets:
Fixed income securities	$	4.9	$	-	$	4.9
Common stocks and exchange traded funds		1.3		1.3		-
Total	$	6.2	$	1.3	$	4.9
December 31, 2020:
Current assets	$	4.4	$	-	$	4.4
Noncurrent assets:
Fixed income securities	$	2.7	$	-	$	2.7
Common stocks		.2		.2		-
Total	$	2.9	$	.2	$	2.7

Amalgamated Sugar. Prior to 2018, we transferred control of the refined sugar operations previously conducted by our wholly-owned subsidiary, The Amalgamated Sugar Company, to Snake River Sugar Company, an Oregon agricultural cooperative formed by certain sugar beet growers in Amalgamated’s areas of operations. Pursuant to the transaction, we contributed substantially all of the net assets of our refined sugar operations to The Amalgamated Sugar Company LLC, a limited liability company controlled by Snake River, on a tax-deferred basis in exchange for a non-voting ownership interest in the LLC. The cost basis of the net assets we transferred to the LLC was approximately $34 million. When we transferred control of our operations to Snake River in return for our interest in the LLC, we recognized a gain in earnings equal to the difference between $250 million (the fair value of our investment in the LLC as evidenced by its $250 million redemption price, as discussed below) and the $34 million cost basis of the net assets we contributed to the LLC, net of applicable deferred income taxes. Therefore, the cost basis of our investment in the LLC was $250 million. As part of this transaction, Snake River made certain loans to us aggregating $250 million. These loans were collateralized by our interest in the LLC. We and Snake River shared in distributions from the LLC up to an aggregate of $26.7 million per year (the “base” level), with a preferential 95% share going to us. Additionally, Snake River agreed that the annual amount of distributions we received from the LLC would exceed the annual amount of interest payments we owed to Snake River on our $250 million in loans from Snake River by at least $1.8 million on an annual basis.

On May 30, 2018, we entered into an agreement with Snake River, completed on August 31, 2018, in which we sold our interest in Amalgamated for consideration consisting of $12.5 million in cash and the deemed payment in full of our $250 million in loans from Snake River. As a result, in the third quarter of 2018 we recognized a securities transaction gain of $12.5 million related to the sale and our $250 million in loans were deemed repaid in full.

Other. The fair value of our marketable securities are either determined using Level 1 inputs (because the securities are actively traded) or 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).

Investment in TiO2 Manufacturing Joint Venture and Other Assets

12 Months Ended

Dec. 31, 2020

Investments In And Advances To Affiliates Schedule Of Investments [Abstract]

Investment in TiO2 Manufacturing Joint Venture and Other Assets

Note 7—Investment in TiO₂ manufacturing joint venture and other assets:

	December 31,
	2019		2020
	(In millions)
Other assets:
Land held for development	$	125.3	$	96.0
Operating lease right-of-use assets		29.0		26.1
Restricted cash and cash equivalents		33.0		37.8
IBNR receivables		8.5		37.1
Note receivables - OPA		8.8		25.3
Other		11.9		8.7
Total	$	216.5	$	231.0

Investment in TiO₂ manufacturing joint venture. Our Chemicals Segment owns a 50% interest in Louisiana Pigment Company, L.P. (LPC). LPC is a manufacturing joint venture whose other 50%-owner is Venator Investments LLC (Venator Investments). Venator Investments is a wholly-owned subsidiary of Venator Group, of which Venator Materials PLC owns 100% and is the ultimate parent. LPC owns and operates a chloride-process TiO₂ plant near Lake Charles, Louisiana.

Kronos and Venator Investments are both required to purchase one-half of the TiO₂ produced by LPC, unless Kronos and Venator Investments agree otherwise. LPC operates on a break-even basis and, accordingly, we report no equity in earnings of LPC. Each owner’s acquisition transfer price for its share of the TiO₂ produced is equal to its share of the joint venture’s production costs and interest expense, if any. Kronos’ share of net cost is reported as cost of sales as the related TiO₂ acquired from LPC is sold. We report distributions Kronos receives from LPC, which generally relate to excess cash generated by LPC from its non-cash production costs, and contributions Kronos makes to LPC, which generally relate to cash required by LPC when it builds working capital, as part of our cash flows from operating activities in our Consolidated Statements of Cash Flows. The components of our net cash distributions from (contributions to) LPC are shown in the table below.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Distributions from LPC	$	34.3		$	40.6		$	32.7
Contributions to LPC		(30.3	)		(49.9	)		(45.5	)
Net distributions (contributions)	$	4.0		$	(9.3	)	$	(12.8	)

Summary balance sheets of LPC are shown below:

	December 31,
	2019		2020
	(In millions)
ASSETS
Current assets	$	94.6	$	105.8
Property and equipment, net		121.3		134.1
Total assets	$	215.9	$	239.9
LIABILITIES AND PARTNERS' EQUITY
Other liabilities, primarily current	$	32.8	$	30.6
Partners' equity		183.1		209.3
Total liabilities and partners' equity	$	215.9	$	239.9

Summary income statements of LPC are shown below:

	Years ended December 31,
	2018		2019		2020
	(In millions)
Revenues and other income:
Kronos	$	165.9	$	176.2	$	167.8
Venator Investments		167.0		177.0		168.3
Total		332.9		353.2		336.1
Cost and expenses:
Cost of sales		332.5		352.8		335.7
General and administrative		.4		.4		.4
Total		332.9		353.2		336.1
Net income	$	-	$	-	$	-

Leases. We enter into various operating leases for manufacturing facilities, land and equipment. Our operating leases are included in operating lease right-of-use assets, current operating lease liabilities and noncurrent operating lease liabilities in our Consolidated Balance Sheet. See Note 10. Our Chemicals Segment’s principal German operating subsidiary leases the land under its Leverkusen TiO₂ production facility pursuant to a lease with Bayer AG that expires in 2050. The Leverkusen facility itself, which Kronos owns and which represents approximately one-third of its current TiO₂ production capacity, is located within Bayer’s extensive manufacturing complex.

During 2019 and 2020, our operating lease expense approximated $8.2 million and $7.6 million, respectively, (which amount approximates the amount of cash paid during the period for our operating leases included in the determination of our cash flows from operating activities). During 2019 and 2020, variable lease expense and short-term lease expense were not material. During 2019 and 2020, we entered into new operating leases which resulted in the recognition of $1.6 million and $2.5 million, respectively, in right-of-use operating lease assets and corresponding liabilities on our Consolidated Balance Sheet. At December 31, 2019 and 2020, the weighted average remaining lease term of our operating leases was approximately 14 years and 15 years, respectively, and the weighted average discount rate associated with such leases was approximately 4.6% and 4.8%, respectively. Such average remaining lease term is weighted based on each arrangement’s lease obligation, and such average discount rate is weighted based on each arrangement’s total remaining lease payments.

At December 31, 2020, maturities of our operating lease liabilities were as follows:

Years ending December 31,	Amount
	(In millions)
2021	$	7.4
2022		4.1
2023		2.7
2024		1.8
2025		1.3
2026 and thereafter		20.1
Total remaining lease payments		37.4
Less imputed interest		11.9
Total lease obligations		25.5
Less current obligations		6.7
Long term lease obligations	$	18.8

With respect to our land lease associated with our Chemical Segment’s Leverkusen facility, we periodically establish the amount of rent for such land lease by agreement with Bayer for periods of at least two years at a time. The lease agreement provides for no formula, index or other mechanism to determine changes in the rent of such land lease; rather, any change in the rent is subject solely to periodic negotiation between Bayer and us. As such, we will account for any change in the rent associated with such lease as

a lease modification. Of the $25.5 million total lease obligations at December 31, 2020, approximately $7.6 million relates to our Leverkusen facility land lease.

At December 31, 2020, we have no significant lease commitments that have not yet commenced.

Prior to the adoption of ASC 842, net rent expense approximated $15 million in 2018.

Land held for development. The land held for development relates to BMI and LandWell and is discussed in Note 1.

Note receivables – OPA. Under an Owner Participation Agreement (“OPA”) entered into by LandWell with the Redevelopment Agency of the City of Henderson, Nevada, if LandWell develops certain real property for commercial and residential purposes in a master planned community in Henderson, Nevada, the cost of certain public infrastructure may be reimbursed to us through tax increment. The maximum reimbursement under the OPA is $209 million, and is subject to, among other things, completing construction of approved qualifying public infrastructure, transferring title of such infrastructure to the City of Henderson, receiving approval from the Redevelopment Agency of the funds expended to be eligible for tax increment reimbursement and the existence of a sufficient property tax valuation base and property tax rates in order to generate tax increment reimbursement funds. We are entitled to receive 75% of the tax increment generated by the master planned community through 2036, subject to the qualifications and limitations indicated above. The OPA note receivables represent public infrastructure costs previously incurred for which the Redevelopment Agency has provided its approval for tax increment reimbursement but we have not yet received such reimbursement through tax increment receipts, and are evidenced by a promissory note issued to LandWell by the City of Henderson.

Prior to 2018, due to the significant uncertainty of the timing and amount of any of such potential tax increment reimbursements, we recognized any such tax increment reimbursements only when received. However, due to growth in the master planned community and the increase in tax increment funds to which we are entitled, we determined in the first quarter of 2018 the tax increment reimbursements expected to be collected in the future would at least be sufficient to support recognizing the promissory note issued by the City of Henderson to LandWell. During 2018, we recognized $3.1 million of other income relating to the existing promissory note as of January 1, 2018. During 2019 and 2020, we received approval for additional tax increment reimbursement of $8.8 million (primarily in the second quarter), and $19.1 million (all in the first quarter), respectively, which were recognized as other income and are evidenced by a promissory note issued to LandWell by the City of Henderson. The note receivables bear interest at 6% annually and the note expires in 2036. Any unpaid balances in 2036 are forfeited. See Note 13.

Other. We have certain related party transactions with LPC, as more fully described in Note 17.

IBNR receivables relate to certain insurance liabilities, the risk of which we have reinsured with certain third party insurance carriers. We report the insurance liabilities related to these IBNR receivables which have been reinsured as part of noncurrent accrued insurance claims and expenses. Certain of our insurance liabilities are classified as current liabilities and the related IBNR receivables are classified with other current assets. See Notes 10 and 17.

Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

Note 8—Goodwill:

We have assigned goodwill to each of our reporting units (as that term is defined in ASC Topic 350-20-20, Goodwill) which corresponds to our operating segments. All of our goodwill related to our Chemicals Segment is from our various step acquisitions of NL and Kronos which occurred prior to 2018, as goodwill was determined prior to the adoption of the equity transaction framework provisions of ASC Topic 810. Substantially all of the net goodwill related to the Component Products Segment was generated from CompX’s acquisitions of certain business units and the step acquisitions of CompX. The Component Products Segment goodwill is assigned to the security products reporting unit within that operating segment.

	Operating segment
	Chemicals		Component Products		Total
	(In millions)
Balance at December 31, 2018, 2019 and 2020	$	352.6	$	27.1	$	379.7

We test for goodwill impairment at the reporting unit level. In determining the estimated fair value of the reporting units, we use appropriate valuation techniques, such as discounted cash flows and, with respect to our Chemicals Segment, we consider quoted market prices, a Level 1 input, while discounted cash flows are a Level 3 input. We also consider control premiums when assessing fair value using quoted market prices. If the carrying amount of the reporting unit’s net assets exceeds its fair value, an impairment charge is recorded for the amount by which such carrying amount exceeds the reporting unit’s fair value (not to exceed the amount of goodwill

recognized). We review goodwill for each of our reporting units for impairment during the third quarter of each year. Goodwill is also evaluated for impairment at other times whenever an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. If the fair value of an evaluated asset is less than its book value, the asset is written down to fair value.

In 2018, 2019 and 2020, no goodwill impairment was indicated as part of our annual impairment review of goodwill. As permitted by GAAP, during 2018, 2019 and 2020 we used the qualitative assessment of ASC 350-20-35 for the Component Products security products reporting unit’s annual impairment test and determined it was not necessary to perform a quantitative goodwill impairment test. During 2016, we used the quantitative assessment of ASC 350-20-35 for security products reporting unit’s annual impairment test using discounted cash flows to determine the estimated fair value of the security products reporting unit. Such discounted cash flows are a Level 3 input as defined by ASC 820-10-35.

Prior to 2018, we recorded an aggregate $16.5 million goodwill impairment, mostly with respect to our Component Products Segment. Our consolidated gross goodwill at December 31, 2020 is $396.2 million.

Long-Term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Note 9—Long-term debt:

	December 31,
	2019			2020
	(In millions)
Valhi:
Contran credit facility	$	313.0		$	270.7
Subsidiary debt:
Kronos:
Senior Secured Notes		442.6			485.7
Tremont:
Promissory note payable		2.0			-
BMI:
Bank loan Western Alliance Bank		17.2			16.3
LandWell:
Note payable to Western Alliance Business Trust		15.0			14.2
Note payable to the City of Henderson		1.6			-
Other		2.9			1.7
Total subsidiary debt		481.3			517.9
Total debt		794.3			788.6
Less current maturities		(4.9	)		(2.4	)
Total long-term debt	$	789.4		$	786.2

Valhi— Contran credit facility—We have an unsecured revolving credit facility with Contran which, as amended, provides for borrowings from Contran of up to $320 million. The facility, as amended, bears interest at prime plus 1% (4.25% at December 31, 2020), and is due on demand, but in any event no earlier than December 31, 2022. The facility contains no financial covenants or other financial restrictions. Valhi pays an unused commitment fee quarterly to Contran on the available balance (except during periods during which Contran would be a net borrower from Valhi). The average interest rate on the credit facility for the year ended December 31, 2020 was 4.5%. During 2020 we made no borrowings and we repaid $42.3 million under this facility and at December 31, 2020 an additional $49.3 million was available for borrowings under this facility.

Kronos—Senior Notes—On September 13, 2017, Kronos International, Inc. (“KII”), Kronos’ wholly-owned subsidiary, issued €400 million aggregate principal amount of its 3.75% Senior Secured Notes due September 15, 2025 (the “Senior Notes”), at par value ($477.6 million when issued). The Senior Notes:

●

bear interest at 3.75% per annum, payable semi-annually on March 15 and September 15 of each year, payments began on March 15, 2018;

●

have a maturity date of September 15, 2025. Prior to September 15, 2020, Kronos had an option to redeem some or all of the Senior Notes at a price equal to 100% of the principal amount thereof, plus a “make-whole” premium (as defined in the indenture governing the Senior Notes). On or after September 15, 2020, Kronos may redeem the Senior Notes at redemption prices ranging from 102.813% of the principal amount, declining to 100% on or after September 15, 2023. In addition, on or before September 15, 2020, Kronos had an option to redeem up to 40% of the Senior Notes with the net proceeds of certain public or private equity offerings at 103.75% of the principal amount but Kronos did not elect this option. If Kronos experiences certain specified change of control events, it would be required to make an offer to purchase the Senior Notes at 101% of the principal amount. Kronos would also be required to make an offer to purchase a specified portion of the Senior Notes at par value in the event that it generates a certain amount of net proceeds from the sale of assets outside the ordinary course of business, and such net proceeds are not otherwise used for specified purposes within a specified time period;

●

are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Kronos Worldwide, Inc. and each of its direct and indirect domestic, wholly-owned subsidiaries;

●

are collateralized by a first priority lien on (i) 100% of the common stock or other ownership interests of each existing and future direct domestic subsidiary of KII and the guarantors, and (ii) 65% of the voting common stock or other ownership interests and 100% of the non-voting common stock or other ownership interests of each foreign subsidiary that is directly owned by KII or any guarantor;

●

contain a number of covenants and restrictions which, among other things, restrict Kronos’ ability to incur or guarantee additional debt, incur liens, pay dividends or make other restricted payments, or merge or consolidate with, or sell or transfer substantially all of its assets to, another entity, and contain other provisions and restrictive covenants customary in lending transactions of this type (however, there are no ongoing financial maintenance covenants); and

●

contain customary default provisions, including a default under any of Kronos’ other indebtedness in excess of $50.0 million.

The carrying value of the Senior Notes at December 31, 2020 is stated net of unamortized debt issuance costs of $4.7 million (at December 31, 2019 the balance was $5.3 million).

Revolving North American credit facility—Kronos has a $125 million revolving bank credit facility that, as amended, matures in January 2022. Borrowings under the revolving credit facility are available for Kronos’ general corporate purposes. Available borrowings on this facility are based on formula-determined amounts of eligible trade receivables and inventories, as defined in the agreement, of certain of Kronos’ North American subsidiaries less any outstanding letters of credit up to $15 million issued under the facility (with revolving borrowings by Kronos’ Canadian subsidiary limited to $25 million). Any amounts outstanding under the revolving credit facility bear interest, at Kronos’ option, at LIBOR plus a margin ranging from 1.5% to 2.0% or at the applicable base rate, as defined in the agreement, plus a margin ranging from .5% to 1.0%. The credit facility is collateralized by, among other things, a first priority lien on the borrowers’ trade receivables and inventories. The facility contains a number of covenants and restrictions which, among other things, restricts the borrowers’ ability to incur additional debt, incur liens, pay dividends or merge or consolidate with, or sell or transfer all or substantially all of their assets to, another entity, contains other provisions and restrictive covenants customary in lending transactions of this type and under certain conditions requires the maintenance of a specified financial covenant (fixed charge coverage ratio, as defined) to be at least 1.0 to 1.0.

Kronos had no borrowings or repayments under this facility in 2019 and 2020. At December 31, 2019, Kronos had approximately $107.6 million available for borrowing under this revolving facility.

Revolving European credit facility— Kronos’ operating subsidiaries in Germany, Belgium, Norway and Denmark have a €90 million secured revolving credit facility that, as amended, matures in September 2022. Outstanding borrowings bear interest at the Euro Interbank Offered Rate (EURIBOR) plus 1.60% per annum. The facility is collateralized by the accounts receivable and inventories of the borrowers, plus a limited pledge of all of the other assets of the Belgian borrower. The facility contains certain restrictive covenants that, among other things, restrict the ability of the borrowers to incur debt, incur liens, pay dividends or merge or consolidate with, or sell or transfer all or substantially all of the assets to, another entity, and requires the maintenance of certain financial ratios. In addition, the credit facility contains customary cross-default provisions with respect to other debt and obligations of the borrowers, KII and its other subsidiaries.

Kronos had no borrowing or repayments under this facility during 2019 and 2020 and at December 31, 2020, there were no outstanding borrowings under this facility. Kronos’ European revolving credit facility requires the maintenance of certain financial ratios, and one of such requirements is based on the ratio of net debt to last twelve months earnings before income tax, interest, depreciation and amortization expense (EBITDA) of the borrowers. Based upon the borrowers’ last twelve months EBITDA as of December 31, 2020 and the net debt to EBITDA financial test, the full €90 million ($110.3 million) was available for borrowing at December 31, 2020.

Other. In 2013, and in conjunction with the acquisition of a controlling interest of our Real Estate Management and Development Segment, Tremont issued a $19.1 million promissory note with the seller, Nevada Environmental Response Trust (“NERT”). The note bore interest at 3% per annum, with interest payable annually and all principal due in December 2023. The

promissory note was collateralized by the BMI and LandWell interests acquired as well as the real property acquired from NERT as part of the transaction. The note could be prepaid at any time without penalty. We were required to make mandatory prepayments on the note in specified amounts whenever we received distributions from BMI or LandWell, or in the event we sold any of the real property acquired. We made principal prepayments of $7.4 million during 2019 under the terms of the note, and in 2020 we fully repaid (without penalty) the remaining principal balance of $2.0 million on the note.

In February 2017, a wholly-owned subsidiary of BMI entered into a $20.5 million loan agreement with Western Alliance Bank. The proceeds were used to refinance the $8.5 million outstanding bank note payable to Meadows Bank and to finance improvements to BMI’s water delivery system. The agreement requires semi-annual payments of principal and interest on June 1 and December 1 aggregating $1.9 million annually beginning on June 1, 2017 through the maturity date in June 2032. The agreement bears interest at 5.34% and is collateralized by certain real property, including the water delivery system, and revenue streams under the City of Henderson water contract. The carrying value of the loan is stated net of debt issuance costs of $.6 million at December 31, 2020.

Prior to 2018, LandWell entered into a $3.9 million promissory note payable to the City of Henderson, Nevada. The note required semi-annual principal payments of $250,000 payable solely from cash received from certain specified revenue sources with any remaining unpaid balance due in October 2020, see Note 18. The loan bore interest at a 3% fixed rate. We made payments of $.4 million during 2019 using receipts from the specified revenue sources and in January 2020, LandWell fully repaid this note using proceeds from the new loan discussed below.

In December 2019, LandWell entered into a $15.0 million loan agreement with Western Alliance Business Trust. The proceeds will be used to finance certain public infrastructure costs incurred by LandWell under the OPA Landwell has with the Redevelopment Agency of the City of Henderson, Nevada as more fully discussed in Note 7, and to repay the City of Henderson note discussed above. The agreement requires semi-annual payments of principal and interest on April 15 and October 15 aggregating $1.3 million annually beginning on April 15, 2020 through the maturity date in April 2036 and is payable from the tax increment reimbursement funds received under the OPA. The agreement bears interest at a fixed 4.76% rate and is collateralized by all tax increment reimbursement funds LandWell receives under the OPA.

Aggregate maturities of long-term debt at December 31, 2020

Aggregate maturities of debt at December 31, 2020 are presented in the table below.

Years ending December 31,	Amount
	(In millions)
Gross amounts due each year:
2021	$	2.4
2022		273.2
2023		2.2
2024		1.9
2025		492.5
2026 and thereafter		21.9
Subtotal	$	794.1
Less amounts representing original issue discount and debt issuance costs		(5.5	)
Total long-term debt	$	788.6

We are in compliance with all of our debt covenants at December 31, 2020.

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Accounts Payable and Accrued Liabilities

Note 10—Accounts payable and accrued liabilities:

	December 31,
	2019		2020
	(In millions)
Accounts payable:
Kronos	$	137.2	$	111.0
CompX		2.5		2.6
BMI/LandWell		3.7		3.6
NL		.9		-
Other		.4		.4
Total	$	144.7	$	117.6
Current accrued liabilities:
Employee benefits	$	30.6	$	37.5
Operating lease liabilities		6.2		6.7
Accrued sales discounts and rebates		33.7		30.2
Deferred income		10.3		20.1
Environmental remediation and related costs		4.5		3.4
Interest		5.2		5.7
Other		40.0		39.4
Total	$	130.5	$	143.0
Noncurrent accrued liabilities:
Other postretirement benefits	$	10.5	$	10.8
Operating lease liabilities		22.2		18.8
Reserve for uncertain tax positions		13.6		6.8
Deferred income		47.4		58.9
Employee benefits		6.0		6.2
Insurance claims and expenses		11.0		39.3
Deferred payment obligation		9.9		1.3
Accrued development costs		8.3		24.6
Other		8.2		7.8
Total	$	137.1	$	174.5

The risks associated with certain of our accrued insurance claims and expenses have been reinsured, and the related IBNR receivables are recognized as noncurrent assets to the extent the related liability is classified as a noncurrent liability. See Note 7. Our reserve for uncertain tax positions is discussed in Note 14.

In 2013 and in conjunction with the acquisition of a controlling interest of our Real Estate Management and Development Segment, we issued a face value $11.1 million deferred payment obligation owed to NERT that bears interest at 3% per annum, commencing in December 2023, and is collateralized by the BMI and LandWell interests acquired. The deferred payment obligation has no specified maturity date. We are required to make repayments on the deferred payment obligation, in specified amounts, whenever we receive distributions from BMI and LandWell, and we may make voluntary repayments on the deferred payment obligation at any time, in each case without any penalty, but in any case only after our promissory note payable to NERT (discussed in Note 9) has been repaid in full. For financial reporting purposes, the obligation was recorded at its acquisition date present value using a 3% discount rate from December 2023 (when it becomes interest bearing at 3%). We made repayments of $9.6 million during 2020 under the terms of the obligation and recognized an accretion loss of $.8 million on the early repayment. In 2021 we fully repaid the remaining $1.5 million face value outstanding under the obligation.

Defined Contribution and Defined Benefit Retirement

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Defined Contribution and Defined Benefit Retirement

Note 11—Defined contribution and defined benefit retirement:

Defined contribution plans. Certain of our subsidiaries maintain various defined contribution pension plans for our employees worldwide. Defined contribution plan expense approximated $6.6 million in 2018, $6.5 million in 2019 and $6.6 million in 2020.

Defined benefit plans. Kronos and NL sponsor various defined benefit pension plans worldwide. The benefits under our defined benefit plans are based upon years of service and employee compensation. Our funding policy is to contribute annually the minimum

amount required under ERISA (or equivalent foreign) regulations plus additional amounts as we deem appropriate. We recognize an asset or liability for the over or under funded status of each of our individual defined benefit pension plans on our Consolidated Balance Sheets. Changes in the funded status of these plans are recognized either in net income, to the extent they are reflected in periodic benefit cost, or through other comprehensive income (loss).

In accordance with applicable U.K. pension regulations, we entered into an agreement in March 2021 for the bulk annuity purchase, or “buy-in” with a specialist insurer of defined benefit pension plans. Following the buy-in, individual policies will replace the bulk annuity policy in a “buy-out” which is expected to be completed in late 2021 or early 2022. The buy-out is expected to be completed with existing plan funds. At the completion of the buy-out we will remove the assets and liabilities of the U.K. pension plan from our Consolidated Financial Statements and a plan settlement gain or loss (which we are currently unable to estimate) will be included in net periodic pension cost. At December 31, 2020 the U.K. plan had a benefit obligation of $12.2 million, plan assets of $17.3 million and a pension plan asset of $5.2 million was recognized in our Consolidated Balance Sheet.

We expect to contribute the equivalent of approximately $18 million to all of our defined benefit pension plans during 2021. Benefit payments to plan participants out of plan assets are expected to be the equivalent of:

2021	$ 27.5 million
2022	28.9 million
2023	28.7 million
2024	30.6 million
2025	30.6 million
Next 5 years	177.6 million

The funded status of our U.S. defined benefit pension plans is presented in the table below.

	Years ended December 31,
	2019			2020
	(In millions)
Change in projected benefit obligations ("PBO"):
Balance at beginning of the year	$	57.6		$	60.6
Interest cost		2.3			1.9
Actuarial losses		4.9			5.0
Benefits paid		(4.2	)		(4.3	)
Balance at end of the year	$	60.6		$	63.2
Change in plan assets:
Fair value at beginning of the year	$	43.2		$	48.4
Actual return on plan assets		5.5			6.8
Employer contributions		3.9			2.4
Benefits paid		(4.2	)		(4.3	)
Fair value at end of the year	$	48.4		$	53.3
Funded status	$	(12.2	)	$	(9.9	)
Amounts recognized in the Consolidated Balance Sheets:
Accrued pension costs:
Current	$	(.3	)	$	(.2	)
Noncurrent		(11.9	)		(9.7	)
Total		(12.2	)		(9.9	)
Accumulated other comprehensive loss — actuarial loss		38.5			36.7
Total	$	26.3		$	26.8
Accumulated benefit obligations ("ABO")	$	60.6		$	63.2

The total net underfunded status of our U.S. defined benefit pension plans decreased from $12.2 million at December 31, 2019 to $9.9 million at December 31, 2020 due to the change in our plan assets during 2020 exceeding the change in our PBO during 2020. The increase in our PBO in 2020 was primarily attributable to actuarial losses due to the decrease in discount rates from year end 2019. The increase in our plan assets in 2020 was primarily attributable to net plan asset returns in 2020 and employer contributions.

The components of our net periodic defined benefit pension cost for U.S. plans are presented in the table below. The amounts shown below for the amortization of unrecognized actuarial losses for 2018, 2019 and 2020 were recognized as components of our accumulated other comprehensive income (loss) at December 31, 2017, 2018 and 2019, respectively, net of deferred income taxes and noncontrolling interest.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net periodic pension benefit cost (credit) for U.S. plans
Interest cost	$	2.2		$	2.3		$	1.9
Expected return on plan assets		(3.4	)		(2.3	)		(2.1	)
Amortization of unrecognized net actuarial loss		2.0			2.2			2.1
Total	$	.8		$	2.2		$	1.9

Information concerning our U.S. defined benefit pension plans (for which the ABO of all of the plans exceeds the fair value of plan assets as of the indicated date) is presented in the table below.

	December 31,
	2019		2020
	(In millions)
Plans for which the ABO exceeds plan assets:
Projected benefit obligations	$	60.6	$	63.2
Accumulated benefit obligations		60.6		63.2
Fair value of plan assets		48.4		53.3

The discount rate assumptions used in determining the actuarial present value of the benefit obligation for our U.S. defined benefit pension plans as of December 31, 2019 and 2020 are 3.1% and 2.2%, respectively. The impact of assumed increases in future compensation levels does not have an effect on the benefit obligation as the plans are frozen with regards to compensation.

The weighted-average rate assumptions used in determining the net periodic pension cost for our U.S. defined benefit pension plans for 2018, 2019 and 2020 are presented in the table below. The impact of assumed increases in future compensation levels does not have an effect on the periodic pension cost as the plans are frozen with regards to compensation.

	Years ended December 31,
	2018			2019			2020
Discount rate		3.5	%		4.1	%		3.1	%
Long-term return on plan assets		7.5	%		5.5	%		4.5	%

Variances from actuarially assumed rates will result in increases or decreases in accumulated pension obligations, pension expense and funding requirements in future periods.

The funded status of our non-U.S. defined benefit pension plans is presented in the table below.

	Years ended December 31,
	2019			2020
	(In millions)
Change in PBO:
Balance at beginning of the year	$	667.2		$	746.4
Service cost		12.8			13.3
Interest cost		13.5			10.1
Participants' contributions		1.6			1.9
Actuarial loss		82.0			47.5
Plan settlement		(1.0	)		-
Change in currency exchange rates		(6.6	)		58.8
Benefits paid		(23.1	)		(22.2	)
Balance at end of the year	$	746.4		$	855.8
Change in plan assets:
Fair value at beginning of the year	$	410.7		$	450.0
Actual return on plan assets		47.0			19.2
Employer contributions		15.5			16.0
Participants' contributions		1.6			1.9
Change in currency exchange rates		(1.7	)		29.9
Benefits paid		(23.1	)		(22.2	)
Fair value at end of the year	$	450.0		$	494.8
Funded status	$	(296.4	)	$	(361.0	)
Amounts recognized in the Consolidated Balance Sheets:
Pension asset	$	7.4		$	8.4
Accrued pension costs:
Noncurrent		(303.8	)		(369.4	)
Total		(296.4	)		(361.0	)
Accumulated other comprehensive loss:
Actuarial loss	286.8				307.0
Prior service cost		1.0			.7
Total		287.8			307.7
Total	$	(8.6	)	$	(53.3	)
ABO	$	720.3		$	838.2

The total net underfunded status of our non-U.S. defined benefit pension plans increased from $296.4 million at December 31, 2019 to $361.0 million at December 31, 2020 due to the change in our PBO during 2020 exceeding the change in plan assets during 2020. The increase in our PBO in 2020 was primarily attributable to actuarial losses due to the decrease in discount rates from year end 2019 and unfavorable foreign currency fluctuations resulting primarily from the weakening of the U.S. dollar relative to the euro. The increase in our plan assets in 2020 was primarily attributable to net plan asset returns in 2020, employer contributions and favorable foreign currency fluctuations resulting primarily from the weakening of the U.S. dollar relative to the euro.

The components of our net periodic pension benefit cost for our foreign plans are presented in the table below. The amounts shown below for the amortization of unrecognized prior service cost and actuarial losses for 2018, 2019 and 2020 were recognized as components of our accumulated other comprehensive income (loss) at December 31, 2017, 2018 and 2019, respectively, net of deferred income taxes and noncontrolling interest.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net periodic pension cost for foreign plans:
Service cost	$	11.6		$	12.8		$	13.3
Interest cost		13.8			13.5			10.1
Expected return on plan assets		(12.7	)		(11.9	)		(9.0	)
Amortization of unrecognized:
Prior service cost		.2			.2			.2
Net actuarial loss		13.2			12.8			17.3
Total	$	26.1		$	27.4		$	31.9

Information concerning certain of our non-U.S. defined benefit pension plans (for which the ABO exceeds the fair value of plan assets as of the indicated date) is presented in the table below.

	December 31,
	2019		2020
	(In millions)
Plans for which the ABO exceeds plan assets:
Projected benefit obligations	$	685.4	$	800.2
Accumulated benefit obligations		663.3		777.4
Fair value of plan assets		381.7		430.8

The key actuarial assumptions used to determine our foreign benefit obligations as of December 31, 2019 and 2020 are as follows:

	December 31,
	2019			2020
Discount rate		1.4	%		1.0	%
Increase in future compensation levels		2.6	%		2.6	%

A summary of our key actuarial assumptions used to determine foreign net periodic benefit cost for 2018, 2019 and 2020 are as follows:

	Years ended December 31,
	2018			2019			2020
Discount rate		2.1	%		2.1	%		1.4	%
Increase in future compensation levels		2.6	%		2.6	%		2.6	%
Long-term return on plan assets		3.0	%		2.9	%		2.0	%

Variances from actuarially assumed rates will result in increases or decreases in accumulated pension obligations, pension expense and funding requirements in future periods.

The amounts shown for all of our periodic defined benefit plans for unrecognized actuarial losses and prior service cost at December 31, 2019 and 2020 have not been recognized as components of our periodic defined benefit pension cost as of those dates. These amounts will be recognized as components of our periodic defined benefit cost in future years. These amounts, net of deferred income taxes and noncontrolling interest, are recognized in our accumulated other comprehensive income (loss) at December 31, 2019 and 2020. We expect approximately $21.0 million and $.2 million of the unrecognized actuarial losses and prior service cost,

respectively, will be recognized as components of our periodic defined benefit pension cost in 2021. The table below details the changes in other comprehensive income (loss) during 2018, 2019 and 2020.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial gain (loss)	$	(27.0	)	$	(47.2	)	$	(37.7	)
Amortization of unrecognized:
Prior service cost		.2			.2			.2
Net actuarial losses		15.2			15.0			19.4
Total	$	(11.6	)	$	(32.0	)	$	(18.1	)

Prior to 2018, substantially all of the assets attributable to our U.S. plan were invested in the Combined Master Retirement Trust (CMRT), a collective investment trust sponsored by Contran to permit the collective investment by certain master trusts that fund certain employee benefit plans sponsored by Contran and certain of its affiliates, including us. For 2018, the long-term rate of return assumption for our U.S. plan assets was 7.5%, based on the long-term asset mix of the assets of the CMRT and the expected long-term rates of return for such asset components as well as advice from Contran’s actuaries. During 2018, Contran and the other employer-sponsors (including us) implemented a restructuring of the CMRT, in which a substantial part of each plan’s units in the CMRT were redeemed in exchange for a pro-rata portion of a substantial part of the CMRT’s investments. Following such restructuring, the plans held directly in the aggregate the investments previously held directly by the CMRT which had been exchanged for CMRT units as part of the restructuring. Certain investments held directly by the CMRT were not part of such restructuring and remained investments of the CMRT at December 31, 2018. During 2019, the remaining investments of the CMRT allocable to our U.S. plan were transferred and are held as direct investments of our U.S. plan at December 31, 2019 and December 31, 2020. Such restructuring was implemented in part so each plan could more easily align the composition of its plan asset portfolio with the plan’s benefit obligations.

In determining the expected long-term rate of return on plan asset assumptions, we consider the long-term asset mix (e.g. equity vs. fixed income) for the assets for each of our plans and the expected long-term rates of return for such asset components. In addition, we receive third-party advice about appropriate long-term rates of return. Such assumed asset mixes are summarized below:

●

In Germany, the composition of our plan assets is established to satisfy the requirements of the German insurance commissioner. Our German pension plan assets represent an investment in a large collective investment fund established and maintained by Bayer AG in which several pension plans, including our German pension plans and Bayer’s pension plans, have invested. Our plan assets represent a very nominal portion of the total collective investment fund maintained by Bayer. These plan assets are a Level 3 in the fair value hierarchy because there is not an active market that approximates the value of our investment in the Bayer investment fund. We estimate the fair value of the Bayer plan assets based on periodic reports we receive from the managers of the Bayer fund and using a model we developed with assistance from our third-party actuary that uses estimated asset allocations and correlates such allocation to similar asset mixes in fund indexes quoted on an active market. We periodically evaluate the results of our valuation model against actual returns in the Bayer fund and adjust the model as needed. The Bayer fund periodic reports are subject to audit by the German pension regulator.

●

In Canada, we currently have a plan asset target allocation of 20% to 30% to equity securities and 70% to 80% to fixed income securities. We expect the long-term rate of return for such investments to approximate the applicable equity or fixed income index. The Canadian assets are Level 1 inputs because they are traded in active markets.

●

In Norway, we currently have a plan asset target allocation of 15% to equity securities, 62% to fixed income securities, 14% to real estate and the remainder primarily to other investments and liquid investments such as money markets. The expected long-term rate of return for such investments is approximately 5%, 3%, 4% and 7%, respectively. The majority of Norwegian plan assets are Level 1 inputs because they are traded in active markets; however approximately 14% of our Norwegian plan assets are invested in real estate and other investments not actively traded and are therefore a Level 3 input.

●

In the U.S. we currently have a plan asset target allocation of 38% to equity securities, 54% to fixed income securities, and the remainder is allocated to multi-asset strategies. The expected long-term rate of return for such investments is approximately 9%, 3% and 2%, respectively (before plan administrative expenses). The majority of U.S. plan assets are Level 1 inputs because they are traded in active markets, and approximately 34% of our U.S. plan assets are invested in funds that are valued at net asset value (NAV) and not subject to classification in the fair value hierarchy

●

We also have plan assets in Belgium and the United Kingdom. The Belgian plan assets are invested in certain individualized fixed income insurance contracts for the benefit of each plan participant as required by the local regulators and are therefore a Level 3 input. The United Kingdom plan assets consist of marketable securities which are Level 1 inputs because they trade in active markets.

We regularly review our actual asset allocation for each plan, and will periodically rebalance the investments in each plan to more accurately reflect the targeted allocation and/or maximize the overall long-term return when considered appropriate.

The composition of our pension plan assets by asset category and fair value level at December 31, 2019 and 2020 is shown in the tables below.

	Fair Value Measurements at December 31, 2019
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Assets measured at NAV
	(In millions)
Germany	$	264.5	$	-	$	-	$	264.5	$	-
Canada:
Local currency equities		8.3		8.3		-		-		-
Non local currency equities		16.3		16.3		-		-		-
Local currency fixed income		80.9		80.9		-		-		-
Cash and other		.6		.6		-		-		-
Norway:
Local currency equities		1.6		1.6		-		-		-
Non local currency equities		4.2		4.2		-		-		-
Local currency fixed income		22.8		14.1		8.7		-		-
Non local currency fixed income		8.3		8.3		-		-		-
Real estate		6.6		-		-		6.6		-
Cash and other		8.2		7.4		-		.8		-
U.S.						-		-
Equities		19.2		5.4		-		.6		13.2
Fixed income		23.3		23.3		-		-		-
Cash and other		6.0		4.6		-		-		1.4
Other		27.6		16.6		-		11.0		-
Total	$	498.4	$	191.6	$	8.7	$	283.5	$	14.6

	Fair Value Measurements at December 31, 2020
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Assets measured at NAV
	(In millions)
Germany	$	292.5	$	-	$	-	$	292.5	$	-
Canada:
Local currency equities		.2		.2		-		-		-
Non local currency equities		26.6		26.6		-		-		-
Local currency fixed income		87.3		87.3		-		-		-
Cash and other		.9		.9		-		-		-
Norway:
Local currency equities		3.2		3.2		-		-		-
Non local currency equities		6.3		6.3		-		-		-
Local currency fixed income		26.4		16.3		10.1		-		-
Non local currency fixed income		7.7		7.7		-		-		-
Real estate		7.1		-		-		7.1		-
Cash and other		5.5		4.8		-		.7		-
U.S.
Equities		20.9		3.1		-		.7		17.1
Fixed income		26.8		26.8		-		-		-
Cash and other		5.7		4.4		-		-		1.3
Other		31.1		17.3		-		13.8		-
Total	$	548.2	$	204.9	$	10.1	$	314.8	$	18.4

A rollforward of the change in fair value of Level 3 assets follows.

	Years ended December 31,
	2019			2020
	(In millions)
Fair value at beginning of year	$	259.6		$	283.5
Gain on assets held at end of year		30.2			4.4
Loss on assets sold during the year		(1.1	)		-
Assets purchased		16.0			14.4
Assets sold		(14.9	)		(14.2	)
Transfer in		-			-
Currency exchange rate fluctuations		(6.3	)		26.7
Fair value at end of year	$	283.5		$	314.8

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Disaggregation of Sales

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Disaggregation of Sales

Note 12 –Disaggregation of Sales

The following table disaggregates the net sales of our Chemicals Segment by place of manufacture (point of origin) and the location of the customer (point of destination), which are the categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net sales - point of origin:
Germany	$	886.1		$	883.6		$	836.0
United States		839.4			998.5			978.8
Canada		307.2			328.7			319.5
Belgium		272.2			270.7			249.5
Norway		209.6			192.2			211.8
Eliminations		(852.6	)		(942.5	)		(956.8	)
Total	$	1,661.9		$	1,731.2		$	1,638.8

Net sales - point of destination:
Europe	$	817.2		$	823.5		$	783.2
North America		542.0			575.6			569.3
Other		302.7			332.1			286.3
Total	$	1,661.9		$	1,731.2		$	1,638.8

The following table disaggregates the net sales of our Component Products and Real Estate Management and Development Segments by major product line, which are the categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows for these segments are affected by economic factors.

	Years ended December 31,
	2018		2019		2020
	(In millions)
Component Products:
Net sales:
Security products	$	98.4	$	99.3	$	87.9
Marine components		19.8		24.9		26.6
Total	$	118.2	$	124.2	$	114.5
Real Estate Management and Development:
Net sales:
Land sales	$	32.3	$	33.5	$	87.0
Water delivery		5.6		6.8		7.6
Utility and other		2.1		1.8		1.8
Total	$	40.0	$	42.1	$	96.4

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Other Income, Net

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Other Income, Net

Note 13—Other income, net:

	Years ended December 31,
	2018			2019			2020
	(In millions)
Securities earnings:
Dividends and interest	$	26.1		$	10.9		$	4.8
Securities transactions, net		12.4			.3			(.1	)
Total		38.5			11.2			4.7
Gain on land sales		12.5			4.4			4.5
Gain on sale of business		-			3.0			-
Insurance recoveries		1.3			7.7			1.6
Currency transactions, net		10.1			2.0			(4.0	)
Disposal of property and equipment, net		(.3	)		(.3	)		(.2	)
Infrastructure reimbursements		4.3			9.2			19.7
Other, net		2.8			3.7			2.1
Total	$	69.2		$	40.9		$	28.4

Dividends and interest income includes distributions from The Amalgamated Sugar Company LLC of $16.9 million in 2018. Securities transactions, net in 2018 includes a $12.5 million gain on the sale of our investment in The Amalgamated Sugar Company LLC. See Note 6.

Infrastructure reimbursements related to the OPA are discussed in Note 7.

Insurance recoveries relate primarily to amounts NL received from certain of its former insurance carriers, and relate principally to the recovery of prior lead pigment and asbestos litigation defense costs. NL has agreements with certain of its former insurance carriers pursuant to which the carriers reimburse it for a portion of its future lead pigment litigation defense costs, and one such carrier reimburses NL for a portion of its future asbestos litigation defense costs. We are not able to determine how much NL will ultimately recover from these carriers for defense costs incurred, because of certain issues that arise regarding which defense costs qualify for reimbursement. While NL continues to seek additional insurance recoveries for lead pigment and asbestos litigation matters, we do not know the extent to which it will be successful in obtaining additional reimbursement for either defense costs or indemnity. In 2019, NL recognized $5.1 million in insurance recoveries which represented recovery of past and future litigation defense costs primarily related to a single insurance recovery settlement. In the fourth quarter of 2019 and the first quarter of 2020, Kronos recognized a gain of $2.6 million and $1.5 million, respectively, related to an insurance settlement for a property damage claim.

In the first quarter of 2018 we sold two parcels of land not used in our operating activities. We sold the first parcel for net proceeds of $18.9 million, and recognized a pre-tax gain on the sale of $11.9 million. We were required under our debt agreement with NERT to use a portion of the net proceeds received for the property to pay down our note balance and accordingly we made $2.2 million in principal payments on our debt, see Note 9. In addition, in 2018 NL sold excess property with a nominal book value for proceeds of $.6 million. In the third quarter of 2019, NL sold excess property for net proceeds of $4.6 million and recognized a pre-tax gain of $4.4 million. In the fourth quarter of 2019, NL sold its insurance and risk management business for proceeds of $3.25 million and recognized a pre-tax gain of $3.0 million on the sale. In the third quarter of 2020, BMI recognized a pre-tax gain of $4.0 million related to proceeds received associated with a prior land sale.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 14—Income taxes:

	Years ended December 31,
	2018			2019			2020
	(In millions)
Pre-tax income (loss):
United States	$	(22.5	)	$	23.5		$	45.2
Non-U.S. subsidiaries		258.7			81.2			55.4
Total	$	236.2		$	104.7		$	100.6
Expected tax expense at U.S. federal statutory income tax rate of 21%	$	49.6		$	22.0		$	21.1
Non-U.S. tax rates		20.8			5.2			.5
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. tax group companies		(167.8	)		(4.5	)		(8.7	)
Valuation allowance		-			4.5			3.8
Transition tax		(2.1	)		-			-
Global intangible low-tax income, net		4.0			1.8			2.2
Tax rate changes		58.8			4.7			(.2	)
U.S. state income taxes, net		.6			(.3	)		.9
Adjustment to the reserve for uncertain tax positions, net		4.1			(5.1	)		(3.8	)
Nondeductible expenses		3.0			1.5			1.0
Canada - Germany APA		(1.4	)		-			-
Refund of prior tax payments, net		-			(2.1	)		-
Other, net		(.3	)		(1.2	)		(.9	)
Income tax expense (benefit)	$	(30.7	)	$	26.5		$	15.9
Components of income tax expense (benefit):
Currently payable:
U.S. federal and state	$	34.1		$	4.3		$	13.3
Non-U.S.		51.1			22.0			14.9
Total		85.2			26.3			28.2
Deferred income taxes (benefit):
U.S. federal and state		(145.5	)		(4.1	)		(10.3	)
Non-U.S.		29.6			4.3			(2.0	)
Total		(115.9	)		.2			(12.3	)
Income tax expense (benefit)	$	(30.7	)	$	26.5		$	15.9
Comprehensive provision for income taxes (benefit) allocable to:
Income (loss) from continuing operations	$	(30.7	)	$	26.5		$	15.9
Discontinued operations		23.7			-			.6
Retained earnings-change in accounting principle		1.1			-			-
Other comprehensive income (loss):
Currency translation		(4.2	)		(.2	)		1.6
Pension plans		(4.7	)		(15.6	)		(7.3	)
Other		(.4	)		(.5	)		(.4	)
Total	$	(15.2	)	$	10.2		$	10.4

The amount shown in the preceding table of our income tax rate reconciliation for non-U.S. tax rates represents the result determined by multiplying the pre-tax earnings or losses of each of our non-U.S. subsidiaries by the difference between the applicable statutory income tax rate for each non-U.S. jurisdiction and the U.S. federal statutory tax rate. The amount shown on such table for incremental net tax benefit on earnings and losses on non-U.S. and non-tax group companies includes, as applicable, (i) deferred income taxes (or deferred income tax benefits) associated with the current year earnings of all our Chemicals Segment’s non-U.S. subsidiaries, (ii) current U.S. income taxes (or current income tax benefit), including U.S. personal holding company tax, as applicable, attributable to current-year income (losses) of one of Kronos’ non-U.S. subsidiaries, which subsidiary is treated as a dual resident for U.S. income

tax purposes, to the extent the current-year income (losses) of such subsidiary is subject to U.S. income tax under the U.S. dual-resident provisions of the Internal Revenue Code, (iii) deferred income taxes associated with our direct investment in Kronos and (iv) current and deferred income taxes associated with distributions and earnings from our investment in LandWell and BMI.

The components of the net deferred income taxes at December 31, 2019 and 2020 are summarized in the following table.

	December 31,
	2019						2020
	Assets			Liabilities			Assets			Liabilities
	(In millions)
Tax effect of temporary differences related to:
Inventories	$	3.7		$	-		$	1.9		$	-
Property and equipment		-			(61.8	)		-			(67.2	)
Lease assets (liabilities)		5.9			(6.1	)		6.3			(6.5	)
Accrued OPEB costs		2.8			-			3.0			-
Accrued pension costs		80.6			-			100.5			-
Accrued environmental liabilities		33.8			-			31.0			-
Other deductible differences		8.3			-			9.2			-
Other taxable differences		-			(13.7	)		-			(13.1	)
Investments in subsidiaries and affiliates		2.6			(54.4	)		2.7			(48.1	)
Tax on unremitted earnings of non-U.S. subsidiaries		-			(10.8	)		-			(12.0	)
Tax loss and tax credit carryforwards		91.2			-			100.4			-
Valuation allowance		(14.2	)		-			(17.5	)		-
Adjusted gross deferred tax assets (liabilities)		214.7			(146.8	)		237.5			(146.9	)
Netting of items by tax jurisdiction		(108.7	)		108.7			(117.3	)		117.3
Net noncurrent deferred tax asset (liability)	$	106.0		$	(38.1	)	$	120.2		$	(29.6	)

Tax authorities are examining certain of our U.S. and non-U.S. tax returns and have or may propose tax deficiencies, including penalties and interest. Because of the inherent uncertainties involved in settlement initiatives and court and tax proceedings, we cannot guarantee that these tax matters, if any, will be resolved in our favor, and therefore our potential exposure, if any, is also uncertain.

Our Chemicals Segment has substantial net operating loss (NOL) carryforwards in Germany (the equivalent of $531 million for German corporate purposes at December 31, 2020) and in Belgium (the equivalent of $20 million for Belgian corporate tax purposes at December 31, 2020). At December 31, 2020, we have concluded that no deferred income tax asset valuation allowance is required to be recognized with respect to such carryforwards, principally because (i) such carryforwards have an indefinite carryforward period, (ii) we have utilized a portion of such carryforwards during the most recent three-year period and (iii) we currently expect to utilize the remainder of such carryforwards over the long term. However, prior to the complete utilization of such carryforwards, if we were to generate additional losses in our German or Belgian operations for an extended period of time, or if applicable law were to change such that the carryforward period was no longer indefinite, it is possible that we might conclude the benefit of such carryforwards would no longer meet the more-likely-than-not recognition criteria, at which point we would be required to recognize a valuation allowance against some or all of the then-remaining tax benefit associated with the carryforwards.

Prior to the enactment of the 2017 Tax Act the undistributed earnings of our Chemicals Segment’s European subsidiaries were deemed to be permanently reinvested (we had not made a similar determination with respect to the undistributed earnings of our Chemicals Segment’s Canadian subsidiary). Pursuant to the one time repatriation tax (Transition Tax) provisions of the 2017 Tax Act which imposed a one-time repatriation tax on post-1986 undistributed earnings, we recognized a provisional current income tax expense of $76.2 million in the fourth quarter of 2017 based on information available at that date. During the third quarter of 2018, in conjunction with finalizing our federal income tax return and based on additional information that became available (including proposed regulations issued by the IRS in August 2018 with respect to the Transition Tax), we recognized a provisional income tax benefit of $2.1 million which amount is recorded as a measurement-period adjustment, reducing the provisional income tax expense recognized in the fourth quarter of 2017. We elected to pay such tax over an eight year period beginning in 2018. At December 31, 2020, the balance of our unpaid Transition Tax is $56.3 million, which will be paid in annual installments over the remainder of the eight year period. Of such $56.3 million, $50.4 million is recorded as a noncurrent payable to affiliate (income taxes payable to Contran) classified as a noncurrent liability in our Consolidated Balance Sheet, and $5.9 million is included with our current payable to affiliate (income taxes payable to Contran) classified as a current liability (a portion of our noncurrent income tax payable to affiliate was reclassified to our current payable to affiliate for the portion of our 2020 Transition Tax installment due within the next twelve months).

The 2017 Tax Act amended the rules limiting the deduction for business interest expense beginning in 2018. The limitation applies to all taxpayers and our annual deduction for business interest expense is limited to the sum of our business interest income and 30% of our adjusted taxable income as defined under the 2017 Tax Act. Any business interest expense not allowed as a deduction as a result of the limitation may be carried forward indefinitely and is treated as interest paid in the carryforward year subject to the respective year’s limitation. We determined that our interest expense for 2018, 2019 and 2020 was limited under these provisions. The limitation in 2018 resulted in part because of the loss we recognized on the sale of WCS for income tax purposes and the limitation in 2019 and 2020 are primarily attributable to lower earnings. We have concluded we are required to recognize a non-cash deferred income tax asset valuation allowance under the more-likely-than-not recognition criteria with respect to a portion of our deferred tax asset attributable to the nondeductible amount of business interest expense carryforward. Consequently, our provision for income taxes includes a non-cash deferred income tax expense of $6.8 million in 2018, $4.5 million in 2019 and $3.3 million in 2020 for the amount of deferred income tax asset that does not meet the more-likely-than-not recognition criteria. In accordance with the ASC 740 guidance regarding intra-period allocation of income taxes, the full amount of non-cash deferred income tax expense in 2018 is classified as part of the income taxes associated with the pre-tax gain we recognized for financial reporting purposes on the sale of WCS which is classified as part of discontinued operations (see Note 3 to our Consolidated Financial Statements and Discontinued Operations —Waste Control Specialists LLC).

In the fourth quarter of 2019, we recognized an income tax benefit of $3.0 million primarily related to the favorable settlement of a prior year tax matter in Germany, with $1.5 million recognized as a current cash tax benefit and $1.5 million recognized as a non-cash deferred income tax benefit related to an increase to our German net operating loss carryforward. In addition, we recognized a non-cash deferred income tax expense of $4.7 million primarily related to the revaluation of our net deferred income tax asset in Germany resulting from a decrease in the German trade tax rate.

As a result of prior audits in certain jurisdictions, which are now settled, in 2008 we filed Advance Pricing Agreement Requests with the tax authorities in the U.S., Canada and Germany. These requests had been under review with the respective tax authorities since 2008 and prior to 2016, it was uncertain whether an agreement would be reached between the tax authorities and whether we would agree to execute and finalize such agreements. During the first quarter of 2018, our German subsidiary executed and finalized the related Advance Pricing Agreement with the Competent Authority for Germany effective for tax years 2005 - 2017. In the first quarter of 2018, we recognized a net $1.4 million non-cash income tax benefit related to an APA tax settlement payment between our German and Canadian subsidiaries.

We recognized a non-cash deferred income tax benefit of $1.8 million in 2018 related to a decrease in our effective state income tax rate; this decrease is a direct result of the sale of our interest in the Amalgamated Sugar Company LLC which reduced the number of state jurisdictions in which we are required to file.

We recognize deferred income taxes with respect to the excess of the financial reporting carrying amount over the income tax basis of our direct investment in Kronos common stock because the exemption under GAAP to avoid such recognition of deferred income taxes is not available to us. At December 31, 2020, we have recognized a deferred income tax liability with respect to our direct investment in Kronos of $35.5 million. There is a maximum amount (or cap) of such deferred income taxes we are required to recognize with respect to our direct investment in Kronos. The maximum amount of such deferred income tax liability we would be required to have recognized (the cap) is $155.4 million. During 2020, we recognized a non-cash deferred income tax benefit with respect to our direct investment in Kronos of $2.4 million for the decrease in the deferred income taxes required to be recognized with respect to the excess of the financial reporting carrying amount over the income tax basis of our direct investment in Kronos common stock, to the extent such decrease related to our equity in Kronos’ net income during such period. We recognized a similar non-cash deferred income tax expense of $.1 million in 2019 and $4.9 million in 2018. A portion of the net change with respect to the excess of the financial reporting carrying amount over the income tax basis of our direct investment in Kronos common stock during such periods related to our equity in Kronos’ other comprehensive income (loss) items, and the amounts shown in the table above for income tax expense (benefit) allocated to other comprehensive income (loss) items includes amounts related to our equity in Kronos’ other comprehensive income (loss) items. Due to uncertainties and complexities of the 2017 Tax Act, we were still evaluating the impact of the one-time deemed repatriation of the post-1986 undistributed earnings of our non-U.S. subsidiaries up through December 31, 2017 as it relates to the income tax basis of our direct investment in Kronos at December 31, 2017. During the third quarter of 2018, in conjunction with finalizing our federal income tax return and based on additional information that became available (including proposed regulations issued by the IRS in August 2018 with respect to the Transition Tax), we recognized an adjustment, which was treated as a measurement period adjustment, to the deferred income taxes we recognized at December 31, 2017 associated with our direct investment in Kronos common stock (before revaluation of our deferred tax liability related to the decrease in the corporate income tax rate). Such adjustment resulted in an investment basis adjustment under the income tax regulations which increased the income tax basis of our direct investment in Kronos attributable to the income recognition related to the deemed repatriation of the post-1986 undistributed earnings of our non-U.S. subsidiaries in 2017. Such adjustment resulted in a non-cash deferred tax measurement period adjustment decreasing the deferred income taxes we recognize with respect to the excess of the financial reporting carrying amount over the income tax basis of our direct investment in Kronos common stock. Including the impact of the non-cash deferred tax revaluation adjustment discussed above, we recognized a net non-cash deferred income tax benefit of $112 million in the third quarter of 2018 related to the incremental tax on Kronos. We completed our analysis related to the impact of the 2017 Tax Act as it related to the income tax basis of our direct investment in Kronos as of September 30, 2018.

We believe we have adequate accruals for additional taxes and related interest expense which could ultimately result from tax examinations. We believe the ultimate disposition of tax examinations should not have a material adverse effect on our consolidated financial position, results of operations or liquidity.

On March 27, 2020, the “Coronavirus Aid, Relief and Economic Security (CARES) Act” was signed into law in response to the COVID-19 pandemic. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, modifications to the limitation of business interest for tax years beginning in 2019 and 2020 and technical corrections to tax depreciation methods for qualified improvement property. The modification to the business interest provisions increases the business interest limitation from 30% of adjusted taxable income to 50% of adjusted taxable income which increases our allowable interest expense deduction for 2019 and 2020. Consequently, in the first quarter of 2020 we recognized a cash tax benefit of $1.0 million related to the reversal of the valuation allowance recognized in 2019 for the portion of the disallowed interest expense we did not expect to fully utilize at December 31, 2019 and we have considered such modifications in our 2020 provision for income taxes. Other provisions of the CARES Act did not have a material impact on our provision for income taxes in 2020.

The following table shows the changes in the amount of our uncertain tax positions (exclusive of the effect of interest and penalties) during 2018, 2019 and 2020:

	Years ended December 31,
	2018			2019			2020
	(In millions)
Unrecognized tax benefits:
Amount at beginning of year	$	17.1		$	21.0		$	13.8
Net increase (decrease):
Tax positions taken in prior periods		1.3			(5.6	)		(.3	)
Tax positions taken in current period		4.5			.7			.6
Lapse due to applicable statute of limitations		(1.8	)		-			(4.8	)
Settlement with taxing authorities		-			(2.2	)		-
Changes in currency exchange rates		(.1	)		(.1	)		.3
Amount at end of year	$	21.0		$	13.8		$	9.6

If our uncertain tax positions were recognized, a benefit of $9.4 million at December 31, 2020, would affect our effective income tax rate. We currently estimate that our unrecognized tax benefits will decrease by approximately $3.6 million, excluding interest, during the next twelve months related to the expiration of certain statutes of limitations.

We and Contran file income tax returns in U.S. federal and various state and local jurisdictions. We also file income tax returns in various foreign jurisdictions, principally in Germany, Canada, Belgium and Norway. Our U.S. income tax returns prior to 2017 are generally considered closed to examination by applicable tax authorities. Our non-U.S. income tax returns are generally considered closed to examination for years prior to: 2011 for Norway; 2015 for Canada; 2016 for Germany; and 2017 for Belgium.

We accrue interest and penalties on our uncertain tax positions as a component of our provision for income taxes. We accrued interest and penalties of $1.3 million during each of 2018 and 2019 and $.8 million during 2020, and at December 31, 2019 and 2020 we had $1.9 million and $1.3 million, respectively, accrued for interest and an immaterial amount accrued for penalties for our uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Noncontrolling Interest in Subsidiaries

12 Months Ended

Dec. 31, 2020

Noncontrolling Interest [Abstract]

Noncontrolling Interest in Subsidiaries

Note 15—Noncontrolling interest in subsidiaries:

	December 31,
	2019		2020
	(In millions)
Noncontrolling interest in net assets:
Kronos Worldwide	$	216.6	$	212.3
NL Industries		65.8		67.1
CompX International		22.7		23.5
BMI		20.1		14.7
LandWell		14.9		6.8
Total	$	340.1	$	324.4

	Years ended December 31,
	2018			2019		2020
	(In millions)
Noncontrolling interest in net income (loss) of subsidiaries:
Kronos Worldwide	$	39.9		$	16.9	$	12.1
NL Industries		(7.0	)		4.4		2.5
CompX International		2.0			2.2		1.4
BMI		1.5			2.2		7.6
LandWell		2.4			3.3		10.2
Total	$	38.8		$	29.0	$	33.8

Valhi Stockholder's Equity

12 Months Ended

Dec. 31, 2020

Stockholders Equity Note [Abstract]

Valhi Stockholders' Equity

Note 16—Valhi stockholders’ equity:

	Shares of common stock
	Issued		Treasury			Outstanding
	(In millions)
Balance at December 31, 2018, 2019 and 2020		29.6		(1.1	)		28.5

Reverse stock split. On May 28, 2020 following stockholder approval at our annual meeting, our board of directors approved a reverse stock split of our common stock at a ratio of 1-for-12, which was effective on June 1, 2020. All share and per-share disclosures for all periods presented in our consolidated financial statements have been adjusted to give effect to the reverse stock split (except where otherwise indicated) and we have adjusted our stockholders’ equity at December 31, 2017, 2018 and 2019 to reflect the split by reclassifying $3.3 million from common stock to additional paid-in capital representing $.01 per share par value of each share of common stock eliminated as a result of the reverse stock split.

Valhi common stock. We issued a nominal number of shares of Valhi common stock during 2018, 2019 and 2020, associated with annual stock awards to members of our board of directors.

Valhi share repurchases and cancellations. Prior to 2018, our board of directors authorized the repurchase of shares of our common stock in open market transactions, including block purchases, or in privately negotiated transactions, which may include transactions with our affiliates or subsidiaries. As adjusted for the 1-for-12 reverse stock split of our common stock effected in June 2020, the aggregate number of shares authorized for repurchase is 833,333, and we have approximately 334,000 shares available for repurchase at December 31, 2020. We may purchase the stock from time to time as market conditions permit. The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on market conditions, we may terminate the program prior to completion. We will use cash on hand to acquire the shares. Repurchased shares could be retired and cancelled or may be added to our treasury stock and used for employee benefit plans, future acquisitions or other corporate purposes. We did not make any such purchases under the plan in 2018, 2019 or 2020.

Treasury stock. At December 31, 2019 and 2020, NL and Kronos held approximately 1.2 million and .1 million shares of our common stock, respectively. The treasury stock we reported for financial reporting purposes at December 31, 2019 and 2020 represents our proportional interest in these shares of our common stock held by NL and Kronos, at NL’s and Kronos’ historical cost basis. The remaining portion of these shares of our common stock, which are attributable to the noncontrolling interest of NL and Kronos, are reflected in our consolidated balance sheet at fair value and are classified as part of other noncurrent assets. Under Delaware Corporation Law, 100% (and not the proportionate interest) of a parent company’s shares held by a majority-owned subsidiary of the parent is considered to be treasury stock for voting purposes. As a result, our common shares outstanding for financial reporting purposes differ from those outstanding for legal purposes. Any unrealized gains or losses on the shares of our common stock attributable to the noncontrolling interest of Kronos and NL are recognized in the determination of each of Kronos and NL’s respective net income or loss. Under the principles of consolidation we eliminate any gains or losses associated with our common stock to the extent of our proportional ownership interest in each subsidiary. We recognized losses of $12.2 million in 2018, $.2 million in 2019 and $1.7 million in 2020 in our Consolidated Statement of Income which represents the unrealized loss in respect of these shares attributable to the noncontrolling interest of Kronos and NL. See Note 2.

Preferred stock. At December 31, 2017, our outstanding preferred stock consisted of 5,000 shares of our Series A Preferred Stock having a liquidation preference of $133,466.75 per share, or an aggregate liquidation preference of $667.3 million. The outstanding shares of Series A Preferred Stock were held by Contran and represented all of the shares of Series A Preferred Stock we were authorized to issue. The preferred stock had a par value of $.01 per share and paid a non-cumulative cash dividend at an annual rate of 6% of the aggregate liquidation preference only when authorized and declared by our board of directors. The shares of Series A Preferred Stock were non-convertible, and the shares did not carry any redemption or call features (either at our option or the option of the holder). A holder of the Series A shares did not have any voting rights, except in limited circumstances, and was not entitled to a preferential dividend right that is senior to our shares of common stock. We had not declared any dividends on the Series A Preferred Stock since its issuance. Effective August 10, 2020, we, Contran and a wholly owned subsidiary of Contran entered into a contribution agreement pursuant to which, on August 10, 2020, the 6% Series A Preferred Stock was voluntarily contributed to our capital for no consideration and without the issuance of additional securities by us. Our independent directors approved acceptance of such contribution and entering into the contribution agreement. The contribution has no impact on our consolidated financial position, results of operations or liquidity and the contribution did not have any tax consequences to us. On August 10, 2020, following the contribution of the 6% Series A Preferred Stock to us, we filed a Certificate of Elimination with the Secretary of State of Delaware and, as a result, the 5,000 shares that were designated as 6% Series A Preferred Stock have been returned to the status of authorized but unissued shares of the preferred stock, $.01 par value per share, without designation as to series.

Valhi long-term incentive compensation plan. Prior to 2018, our board of directors adopted a plan that provides for the award of stock to our board of directors, and up to a maximum of 200,000 shares could be awarded. Under the plan, we awarded 14,500 shares in 2018 and 50,000 shares in each of 2019 and 2020, and at December 31, 2020, 24,000 shares are available for future award under this new plan. The share numbers under the plan have not been adjusted for the reverse stock split in 2020.

Stock plans of subsidiaries. Kronos, NL and CompX each maintain plans which provide for the award of their common stock to their board of directors. At December 31, 2020, Kronos, NL and CompX had 127,400, 79,900 and 149,050 shares of their respective common stock available for future award under respective plans.

Accumulated other comprehensive income (loss). Accumulated other comprehensive income (loss) attributable to Valhi stockholders comprises changes in equity as presented in the table below.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Accumulated other comprehensive income (loss) (net of tax and noncontrolling interest):
Marketable securities:
Balance at beginning of year	$	1.7		$	1.7		$	1.7
Other comprehensive income:
Unrealized gain arising during the year		-			-			.1
Balance at end of year	$	1.7		$	1.7		$	1.8
Currency translation:
Balance at beginning of year	$	(54.1	)	$	(75.6	)	$	(76.8	)
Other comprehensive gain (loss) arising during the year		(21.5	)		(1.2	)		9.4
Balance at end of year	$	(75.6	)	$	(76.8	)	$	(67.4	)
Defined benefit pension plans:
Balance at beginning of year	$	(129.0	)	$	(134.0	)	$	(146.6	)
Other comprehensive income (loss):
Amortization of prior service cost and net losses included in net periodic pension cost		7.6			7.2			9.8
Net actuarial loss arising during the year		(12.6	)		(19.8	)		(17.3	)
Balance at end of year	$	(134.0	)	$	(146.6	)	$	(154.1	)
OPEB plans:
Balance at beginning of year	$	2.4		$	1.7		$	1.0
Other comprehensive loss:
Amortization of prior service credit and net losses included in net periodic OPEB cost		(.8	)		(.8	)		(.8	)
Net actuarial gain arising during the year		.1			.1			.1
Balance at end of year	$	1.7		$	1.0		$	.3
Total accumulated other comprehensive loss:
Balance at beginning of year	$	(179.0	)	$	(206.2	)	$	(220.7	)
Other comprehensive income (loss)		(27.2	)		(14.5	)		1.3
Balance at end of year	$	(206.2	)	$	(220.7	)	$	(219.4	)

See Note 11 for amounts related to our defined benefit pension plans and Note 10 for amounts related to our OPEB plans.

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

Note 17—Related party transactions:

We may be deemed to be controlled by Ms. Simmons and the Family Trust. See Note 1. Corporations that may be deemed to be controlled by or affiliated with such individuals sometimes engage in (a) intercorporate transactions such as guarantees, management and expense sharing arrangements, shared fee arrangements, joint ventures, partnerships, loans, options, advances of funds on open account, and sales, leases and exchanges of assets, including securities issued by both related and unrelated parties and (b) common investment and acquisition strategies, business combinations, reorganizations, recapitalizations, securities repurchases, and purchases and sales (and other acquisitions and dispositions) of subsidiaries, divisions or other business units, which transactions have involved both related and unrelated parties and have included transactions which resulted in the acquisition by one related party of a publicly-held noncontrolling interest in another related party. While no transactions of the type described above are planned or proposed with respect to us other than as set forth in these financial statements, we continuously consider, review and evaluate, and understand that Contran and related entities consider, review and evaluate such transactions. Depending upon the business, tax and other objectives then relevant, it is possible that we might be a party to one or more such transactions in the future.

From time to time, we may have loans and advances outstanding between us and various related parties, including Contran, pursuant to term and demand notes. We generally enter into these loans and advances for cash management purposes. When we loan funds to related parties, we are generally able to earn a higher rate of return on the loan than we would earn if we invested the funds in other instruments. While certain of these loans may be of a lesser credit quality than cash equivalent instruments otherwise available to us, we believe we have evaluated the credit risks involved and appropriately reflect those credit risks in the terms of the applicable loans. When we borrow from related parties, we are generally able to pay a lower rate of interest than we would pay if we borrowed from unrelated parties. See Note 9 for more information on the Valhi credit facility with Contran. We paid Contran $18.9 million, $19.9 million and $14.2 million in interest on borrowings and unused commitment fees under credit facilities in 2018, 2019 and 2020, respectively.

We and a subsidiary of Contran guaranteed (i) Tremont’s obligation under its $2.0 million promissory note payable to NERT discussed in Note 9 and (ii) Tremont’s $9.9 million ($11.1 million face value) deferred payment obligation discussed in Note 10. In connection with the payment in full of the promissory note in 2020 and the deferred payment obligation in 2021, the guaranty obligations were released.

Under the terms of various intercorporate services agreements (“ISAs”) we enter into with Contran, employees of Contran provide us certain management, tax planning, financial and administrative services on a fee basis. Such charges are based upon estimates of the time devoted by the Contran employees to our affairs, and the compensation and other expenses associated with those persons. Because of the number of companies affiliated with Contran, we believe we benefit from cost savings and economies of scale gained by not having certain management, financial and administrative staffs duplicated at all of our subsidiaries, thus allowing certain Contran employees to provide services to multiple companies but only be compensated by Contran. We negotiate fees annually, and agreements renew quarterly. The net ISA fees charged to us by Contran aggregated $39.6 million in 2018, $43.9 million in 2019 and $41.3 million in 2020.

At December 31, 2020, we had an aggregate 21.7 million shares of our Kronos common stock pledged as collateral for certain debt obligations of Contran. We receive a fee from Contran for pledging these Kronos shares, determined by a formula based on the market value of the shares pledged. We received $3.1 million in 2018, $1.9 million in 2019 and $1.4 million in 2020 from Contran for this pledge.

Contran and certain of its subsidiaries and affiliates, including us, purchase certain of their insurance policies as a group, with the costs of the jointly-owned policies being apportioned among the participating companies. Tall Pines Insurance Company, our subsidiary, underwrites certain insurance policies for Contran and certain of its subsidiaries and affiliates, including us. Tall Pines purchases reinsurance from third-party insurance carriers with an A.M. Best Company rating of generally at least A-(excellent) for substantially all of the risks it underwrites. EWI RE, Inc., our subsidiary, brokered certain of our insurance policies, provided claims and risk management services and, where appropriate, engaged certain third-party risk management consultants prior to NL’s sale of EWI’s insurance and risk management business to a third party in November 2019. Consistent with insurance industry practices, Tall Pines receives commissions from reinsurance underwriters and/or assesses fees for certain of the policies that it underwrites, and prior to November 2019 EWI received commissions from the insurance and reinsurance underwriters for the policies that it brokered. We received cash payments under the group insurance program from Contran and certain other affiliates not members of our consolidated financial reporting group of $5.4 million in 2018 and $.7 million in 2019. These amounts principally represent insurance premiums paid to Tall Pines or EWI, including amounts paid to EWI that EWI then remitted, net of brokerage commissions, to insurers. These amounts also include payments to insurers or reinsurers through EWI for the reimbursement of claims within our applicable deductible or retention ranges that such insurers and reinsurers paid to third parties on our behalf, as well as amounts for claims and risk management services and various other third-party fees and expenses incurred by the program. Following the sale of EWI’s insurance and risk management business, Contran engaged the third-party insurance broker that purchased the business to provide many of the services previously provided by EWI and we continue to utilize Tall Pines to underwrite certain insurance risks. The aggregate amount paid under the group insurance program by us, our subsidiaries and our joint venture in 2020 was $23.1 million. The aggregate amount paid under the program in 2020 principally represents premiums for insurance, but also includes payments to insurers or reinsurers for the reimbursement of claims within our applicable deductible or retention ranges that such insurers or reinsurers paid to third parties on our behalf, and amounts for claims and risk management services and various other third-party fees and expenses incurred by the program. We expect these relationships will continue in 2021.

With respect to certain of such jointly-owned policies, it is possible that unusually large losses incurred by one or more insureds during a given policy period could leave the other participating companies without adequate coverage under that policy for the balance of the policy period. As a result, and in the event that the available coverage under a particular policy would become exhausted by one or more claims, Contran and certain of its subsidiaries and affiliates, including us, have entered into a loss sharing agreement under which any uninsured loss arising because the available coverage had been exhausted by one or more claims will be shared ratably amongst those entities that had submitted claims under the relevant policy. We believe the benefits in the form of reduced premiums and broader coverage associated with the group coverage for such policies justify the risk associated with the potential for any uninsured loss.

Contran and certain of its subsidiaries participate in a combined information technology data recovery program that Contran provides from a data recovery center that it established. Pursuant to the program, Contran and certain of its subsidiaries, as a group, share information technology data recovery services. The program apportions its costs among the participating companies. We paid Contran $.3 million in 2018, $.2 million in 2019 and $.3 million in 2020 for such services. Under the terms of a sublease agreement between Contran and Kronos, Kronos leases certain office space from Contran. Kronos paid Contran $.1 million in 2019 and $.4 million in 2020 for such rent and related ancillary services. We expect that these relationships with Contran will continue in 2021.

Receivables from and payables to affiliates are summarized in the table below.

	December 31,
	2019		2020
	(In millions)
Current receivables from affiliates:
Contran trade items	$	.4	$	1.7
Louisiana Pigment Company, L.P.		4.7		-
Other		2.2		2.8
Total	$	7.3	$	4.5
Current payables to affiliates:
Louisiana Pigment Company, L.P.	$	16.4	$	19.3
Contran income taxes		4.0		8.3
Total	$	20.4	$	27.6
Noncurrent payable to affiliates:
Contran - income taxes	$	56.3	$	50.4
Payables to affiliate included in long-term debt
Valhi - Contran credit facility	$	313.0	$	270.7

Amounts payable to LPC are generally for the purchase of TiO₂, while amounts receivable from LPC are generally from the sale of TiO₂ feedstock. See Note 7. Purchases of TiO₂ from LPC were $165.9 million in 2018, $176.2 million in 2019 and $167.8 million in 2020. Sales of feedstock to LPC were $66.9 million in 2018, $84.1 million in 2019 and $84.2 million in 2020. The noncurrent payable to Contran for income taxes is discussed in Note 14.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 18—Commitments and contingencies:

Lead pigment litigation

NL’s former operations included the manufacture of lead pigments for use in paint and lead-based paint. NL, other former manufacturers of lead pigments for use in paint and lead-based paint (together, the “former pigment manufacturers”), and the Lead Industries Association (LIA), which discontinued business operations in 2002, have been named as defendants in various legal proceedings seeking damages for personal injury, property damage and governmental expenditures allegedly caused by the use of lead-based paints. Certain of these actions have been filed by or on behalf of states, counties, cities or their public housing authorities and school districts, and certain others have been asserted as class actions. These lawsuits seek recovery under a variety of theories, including public and private nuisance, negligent product design, negligent failure to warn, strict liability, breach of warranty, conspiracy/concert of action, aiding and abetting, enterprise liability, market share or risk contribution liability, intentional tort, fraud and misrepresentation, violations of state consumer protection statutes, supplier negligence and similar claims.

The plaintiffs in these actions generally seek to impose on the defendants responsibility for lead paint abatement and health concerns associated with the use of lead-based paints, including damages for personal injury, contribution and/or indemnification for

medical expenses, medical monitoring expenses and costs for educational programs. To the extent the plaintiffs seek compensatory or punitive damages in these actions, such damages are generally unspecified. In some cases, the damages are unspecified pursuant to the requirements of applicable state law. A number of cases are inactive or have been dismissed or withdrawn. Most of the remaining cases are in various pre-trial stages. Some are on appeal following dismissal or summary judgment rulings or a trial verdict in favor of either the defendants or the plaintiffs.

NL believes that these actions are without merit, and intends to continue to deny all allegations of wrongdoing and liability and to defend against all actions vigorously. Other than with respect to the Santa Clara, California public nuisance case discussed below, we do not believe it is probable we have incurred any liability with respect to all of the lead pigment litigation cases to which NL is a party, and with respect to all such lead pigment litigation cases to which NL is a party, other than with respect to the Santa Clara case discussed below, we believe liability to NL that may result, if any, in this regard cannot be reasonably estimated, because:

●

NL has never settled any of the market share, intentional tort, fraud, nuisance, supplier negligence, breach of warranty, conspiracy, misrepresentation, aiding and abetting, enterprise liability, or statutory cases (other than the Santa Clara case discussed below),

●

no final, non-appealable adverse verdicts have ever been entered against NL, and

●

NL has never ultimately been found liable with respect to any such litigation matters, including over 100 cases over a thirty-year period for which NL was previously a party and for which NL has been dismissed without any finding of liability.

Accordingly, other than with respect to the Santa Clara case discussed below, we have not accrued any amounts for any of the pending lead pigment and lead-based paint litigation cases filed by or on behalf of states, counties, cities or their public housing authorities and school districts, or those asserted as class actions. In addition, we have determined that liability to NL which may result, if any, cannot be reasonably estimated at this time because there is no prior history of a loss of this nature on which an estimate could be made and there is no substantive information available upon which an estimate could be based.

In the matter titled County of Santa Clara v. Atlantic Richfield Company, et al. (Superior Court of the State of California, County of Santa Clara, Case No. 1-00-CV-788657) on July 24, 2019, an order approving a global settlement agreement entered into among all of the plaintiffs and the three defendants remaining in the case (the Sherwin Williams Company, ConAgra Grocery Products and NL) was entered by the court and the case was dismissed with prejudice. The global settlement agreement provides that an aggregate $305 million will be paid collectively by the three co-defendants in full satisfaction of all claims resulting in a dismissal of the case with prejudice and the resolution of (i) all pending and future claims by the plaintiffs in the case, and (ii) all potential claims for contribution or indemnity between NL and its co-defendants in respect to the case. In the agreement, NL expressly denies any and all liability and the dismissal of the case with prejudice was entered by the court without a final judgment of liability entered against NL. The settlement agreement fully concludes this matter.

Under the terms of the global settlement agreement, each defendant must pay an aggregate $101.7 million to the plaintiffs as follows: $25.0 million within sixty days of the court’s approval of the settlement and dismissal of the case, and the remaining $76.7 million in six annual installments beginning on the first anniversary of the initial payment ($12.0 million for the first five installments and $16.7 million for the sixth installment). NL’s sixth installment will be made with funds already on deposit at the court, which is classified as restricted cash and included in other assets on our Consolidated Balance Sheets, that are committed to the settlement, including all accrued interest at the date of payment, with any remaining balance to be paid by NL (and any amounts on deposit in excess of the final payment would be returned to NL). Pursuant to the settlement agreement, also during the third quarter of 2019 NL placed an additional $9.0 million into an escrow account which is classified as restricted cash and included in other assets on our Consolidated Balance Sheets.

As previously disclosed during the second quarter of 2018 and based on the terms of a May 2018 settlement agreement between NL and the plaintiffs which had an aggregate cost of $80 million to NL, we determined that the loss to NL could be reasonably estimated and recognized a net $62 million pre-tax charge with respect to this matter ($45 million for the amount to be paid by NL upon approval of the terms of the settlement and $17 million for the net present value of the five payments aggregating $20 million to be paid by NL in installments beginning four years from such approval). The May 2018 settlement was never approved by the court and was superseded in July 2019 by the global settlement agreement discussed above.

At June 30, 2019, based on the terms of the global settlement agreement approved by the court in July 2019 we increased the amount accrued for the litigation settlement and a final immaterial adjustment was made to the litigation settlement accrual in the third quarter of 2019. For financial reporting purposes, using a discount rate of 1.9% per annum, we discounted the aggregate $101.7 million settlement to the estimated net present value of $96.3 million. We recognized litigation settlement expense of $19.3 million ($19.6 million expense in the second quarter of 2019 and $.3 million credit in the third quarter of 2019). NL made the initial $25.0 million payment in September 2019 and the first annual installment payment of $12.0 million in September 2020. We recognized an aggregate of $.6 million in accretion expense in the second half of 2019 and an aggregate of $1.3 million in 2020.

New cases may continue to be filed against us. We cannot assure you that we will not incur liability in the future in respect of any of the pending or possible litigation in view of the inherent uncertainties involved in court and jury rulings. In the future, if new information regarding such matters becomes available to us (such as a final, non-appealable adverse verdict against us or otherwise ultimately being found liable with respect to such matters), at that time we would consider such information in evaluating any remaining cases then-pending against us as to whether it might then have become probable we have incurred liability with respect to these matters, and whether such liability, if any, could have become reasonably estimable. The resolution of any of these cases could result in the recognition of a loss contingency accrual that could have a material adverse impact on our net income for the interim or annual period during which such liability is recognized and a material adverse impact on our consolidated financial condition and liquidity.

Environmental matters and litigation

Our operations are governed by various environmental laws and regulations. Certain of our businesses are and have been engaged in the handling, manufacture or use of substances or compounds that may be considered toxic or hazardous within the meaning of applicable environmental laws and regulations. As with other companies engaged in similar businesses, certain of our past and current operations and products have the potential to cause environmental or other damage. Our businesses have implemented and continue to implement various policies and programs in an effort to minimize these risks. Our policy is to maintain compliance with applicable environmental laws and regulations at all of our plants and to strive to improve environmental performance. From time to time, our businesses may be subject to environmental regulatory enforcement under U.S. and non-U.S. statutes, the resolution of which typically involves the establishment of compliance programs. It is possible that future developments, such as stricter requirements of environmental laws and enforcement policies, could adversely affect our production, handling, use, storage, transportation, sale or disposal of such substances. We believe that all of our facilities are in substantial compliance with applicable environmental laws.

Certain properties and facilities used in NL’s former operations, including divested primary and secondary lead smelters and former mining locations, are the subject of civil litigation, administrative proceedings or investigations arising under federal and state environmental laws and common law. Additionally, in connection with past operating practices, we are currently involved as a defendant, potentially responsible party (“PRP”) or both, pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, as amended by the Superfund Amendments and Reauthorization Act (“CERCLA”), and similar state laws in various governmental and private actions associated with waste disposal sites, mining locations, and facilities that we or our predecessors, our subsidiaries or their predecessors currently or previously owned, operated or used, certain of which are on the United States Environmental Protection Agency’s (“EPA”) Superfund National Priorities List or similar state lists. These proceedings seek cleanup costs, damages for personal injury or property damage and/or damages for injury to natural resources. Certain of these proceedings involve claims for substantial amounts. Although we may be jointly and severally liable for these costs, in most cases we are only one of a number of PRPs who may also be jointly and severally liable, and among whom costs may be shared or allocated. In addition, we are occasionally named as a party in a number of personal injury lawsuits filed in various jurisdictions alleging claims related to environmental conditions alleged to have resulted from our operations.

Obligations associated with environmental remediation and related matters are difficult to assess and estimate for numerous reasons including the:

●

complexity and differing interpretations of governmental regulations,

●

number of PRPs and their ability or willingness to fund such allocation of costs,

●

financial capabilities of the PRPs and the allocation of costs among them,

●

solvency of other PRPs,

●

multiplicity of possible solutions,

●

number of years of investigatory, remedial and monitoring activity required,

●

uncertainty over the extent, if any, to which our former operations might have contributed to the conditions allegedly giving rise to such personal injury, property damage, natural resource and related claims, and

●

number of years between former operations and notice of claims and lack of information and documents about the former operations.

In addition, the imposition of more stringent standards or requirements under environmental laws or regulations, new developments or changes regarding site cleanup costs or the allocation of costs among PRPs, solvency of other PRPs, the results of future testing and analysis undertaken with respect to certain sites or a determination that we are potentially responsible for the release of hazardous substances at other sites, could cause our expenditures to exceed our current estimates. We cannot assure you that actual

costs will not exceed accrued amounts or the upper end of the range for sites for which estimates have been made, and we cannot assure you that costs will not be incurred for sites where no estimates presently can be made. Further, additional environmental and related matters may arise in the future. If we were to incur any future liability, this could have a material adverse effect on our consolidated financial statements, results of operations and liquidity.

We record liabilities related to environmental remediation and related matters (including costs associated with damages for personal injury or property damage and/or damages for injury to natural resources) when estimated future expenditures are probable and reasonably estimable. We adjust such accruals as further information becomes available to us or as circumstances change. Unless the amounts and timing of such estimated future expenditures are fixed and reasonably determinable, we generally do not discount estimated future expenditures to their present value due to the uncertainty of the timing of the payout. We recognize recoveries of costs from other parties, if any, as assets when their receipt is deemed probable. At December 31, 2019 and 2020, we had not recognized any material receivables for recoveries.

We do not know and cannot estimate the exact time frame over which we will make payments for our accrued environmental and related costs. The timing of payments depends upon a number of factors, including but not limited to the timing of the actual remediation process; which in turn depends on factors outside of our control. At each balance sheet date, we estimate the amount of our accrued environmental and related costs which we expect to pay within the next twelve months, and we classify this estimate as a current liability. We classify the remaining accrued environmental costs as a noncurrent liability.

The table below presents a summary of the activity in our accrued environmental costs during 2018, 2019, and 2020.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Balance at the beginning of the year	$	117.5		$	103.4		$	99.7
Additions charged to expense, net		3.1			.3			.7
Payments, net		(17.2	)		(4.0	)		(1.9	)
Changes in currency exchange rates and other		-			-			.1
Balance at the end of the year	$	103.4		$	99.7		$	98.6
Amounts recognized in our Consolidated Balance Sheet at the end of the year:
Current liabilities	$	6.5		$	4.5		$	3.4
Noncurrent liabilities		96.9			95.2			95.2
Total	$	103.4		$	99.7		$	98.6

NL. On a quarterly basis, NL evaluates the potential range of its liability for environmental remediation and related costs at sites where it has been named as a PRP or defendant. At December 31, 2020, NL had accrued approximately $93 million related to approximately 32 sites associated with remediation and related matters that it believes are at the present time and/or in their current phase reasonably estimable. The upper end of the range of reasonably possible costs to NL for remediation and related matters for which NL believes it is possible to estimate costs is approximately $114 million, including the amount currently accrued.

NL believes that it is not reasonably possible to estimate the range of costs for certain sites. At December 31, 2020, there were approximately five sites for which NL is not currently able to reasonably estimate a range of costs. For these sites, generally the investigation is in the early stages, and NL is unable to determine whether or not NL actually had any association with the site, the nature of its responsibility, if any, for the contamination at the site and the extent of contamination at and cost to remediate the site. The timing and availability of information on these sites is dependent on events outside of NL’s control, such as when the party alleging liability provides information to NL. At certain of these previously inactive sites, NL has received general and special notices of liability from the EPA and/or state agencies alleging that NL, sometimes with other PRPs, are liable for past and future costs of remediating environmental contamination allegedly caused by former operations. These notifications may assert that NL, along with any other alleged PRPs, are liable for past and/or future clean-up costs. As further information becomes available to us for any of these sites which would allow us to estimate a range of costs, we would at that time adjust our accruals. Any such adjustment could result in the recognition of an accrual that would have a material effect on our consolidated financial statements, results of operations and liquidity.

Other. We have also accrued approximately $6 million at December 31, 2020 for other environmental cleanup matters. This accrual is near the upper end of the range of our estimate of reasonably possible costs for such matters.

Insurance coverage claims

We are involved in certain legal proceedings with a number of our former insurance carriers regarding the nature and extent of the carriers’ obligations to us under insurance policies with respect to certain lead pigment and asbestos lawsuits. The issue of whether insurance coverage for defense costs or indemnity or both will be found to exist for our lead pigment and asbestos litigation depends upon a variety of factors and we cannot assure you that such insurance coverage will be available.

We have agreements with three former insurance carriers pursuant to which the carriers reimburse us for a portion of our future lead pigment litigation defense costs, and one such carrier reimburses us for a portion of our future asbestos litigation defense costs. We are not able to determine how much we will ultimately recover from these carriers for defense costs incurred by us because of certain issues that arise regarding which defense costs qualify for reimbursement. While we continue to seek additional insurance recoveries, we do not know if we will be successful in obtaining reimbursement for either defense costs or indemnity. Accordingly, we recognize insurance recoveries in income only when receipt of the recovery is probable and we are able to reasonably estimate the amount of the recovery.

Other litigation

In addition to the litigation described above, we and our affiliates are involved in various other environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to our present and former businesses. In certain cases, we have insurance coverage for these items, although we do not expect any additional material insurance coverage for our environmental claims. We currently believe that the disposition of all of these various other claims and disputes (including asbestos-related claims), individually or in the aggregate, should not have a material adverse effect on our consolidated financial position, results of operations or liquidity beyond the accruals already provided.

Other matters

Concentrations of credit risk—Sales of TiO₂ accounted for approximately 94% of our Chemicals Segment’s sales in 2018 and 2019 and 93% in 2020. The remaining sales result from the mining and sale of ilmenite ore (a raw material used in the sulfate pigment production process), and the manufacture and sale of iron-based water treatment chemicals and certain titanium chemical products (derived from co-products of the TiO₂ production processes). TiO₂ is generally sold to the paint, plastics and paper industries. Such markets are generally considered “quality-of-life” markets whose demand for TiO₂ is influenced by the relative economic well-being of the various geographic regions. Our Chemicals Segment sells TiO₂ to over 4,000 customers, with the top ten customers approximating 33% of our Chemicals Segment’s net sales in 2018, 36% in 2019 and 34% in 2020. Our Chemicals Segment did not have sales to a single customer comprising 10% or more of its net sales in 2018. In 2019 and 2020 one customer accounted for approximately 10% of our Chemicals Segment’s net sales. The table below shows the approximate percentage of our Chemicals Segment’s TiO₂ sales by volume for its significant markets, Europe and North America, for the last three years.

	2018			2019			2020
Europe		44	%		46	%		46	%
North America		37	%		34	%		36	%

Our Component Products Segment’s products are sold primarily in North America to original equipment manufacturers. The ten largest customers related to our Component Product’s Segment accounted for approximately 44% of our Component Products Segment’s sales in 2018, 47% in 2019 and 48% in 2020. One customer of the security products reporting unit accounted for approximately 13% of the Component Products Segment’s total sales in 2018, 14% in 2019 and 17% in 2020.

Our Real Estate Management and Development Segment’s revenues are land sales income and water and electric delivery fees. During 2018 we had sales to three customers that each exceeded 10% of our Real Estate Management and Development Segment’s net sales all related to land sales. During 2019 we had sales to three customers that each exceeded 10% of our Real Estate Management and Development Segment’s net sales related to land sales and one customer related to water delivery sales. During 2020 we had sales to one customer that each exceeded 10% of our Real Estate Management and Development Segment’s net sales all related to land sales.

Long-term contracts—Our Chemicals Segment has long-term supply contracts that provide for certain of its TiO₂ feedstock requirements through 2023. The agreements require Kronos to purchase certain minimum quantities of feedstock with minimum purchase commitments aggregating approximately $1.2 billion over the life of the contracts in years subsequent to December 31, 2020. In addition, our Chemicals Segment has other long-term supply and service contracts that provide for various raw materials and services. These agreements require Kronos to purchase certain minimum quantities or services with minimum purchase commitments aggregating approximately $86 million at December 31, 2020.

Income taxes—Prior to 2018, NL made certain pro-rata distributions to its stockholders in the form of shares of Kronos common stock. All of NL’s distributions of Kronos common stock were taxable to NL and NL recognized a taxable gain equal to the difference between the fair market value of the Kronos shares distributed on the various dates of distribution and NL’s adjusted tax basis in the shares at the dates of distribution. NL transferred shares of Kronos common stock to us in satisfaction of the tax liability related to NL’s gain on the transfer or distribution of these shares of Kronos common stock and the tax liability generated from the use of Kronos shares to settle the tax liability. To date, we have not paid the liability to Contran because Contran has not paid the liability to the applicable tax authority. The income tax liability will become payable to Contran, and by Contran to the applicable tax authority, when the shares of Kronos transferred or distributed by NL to us are sold or otherwise transferred outside the Contran Tax Group or in the event of certain restructuring transactions involving us. We have recognized deferred income taxes for our investment in Kronos common stock.

We are a party to a tax sharing agreement with Contran providing for the allocation of tax liabilities and tax payments as described in Note 1. Under applicable law, we, as well as every other member of the Contran Tax Group, are each jointly and severally liable for the aggregate federal income tax liability of Contran and the other companies included in the Contran Tax Group for all periods in which we are included in the Contran Tax Group. Contran has agreed, however, to indemnify us for any liability for income taxes of the Contran Tax Group in excess of our tax liability computed in accordance with the tax sharing agreement.

Financial Instruments

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Financial Instruments

Note 19—Financial instruments:

The following table summarizes the valuation of our short-term investments and financial instruments by the ASC Topic 820 categories as of December 31, 2019 and 2020:

	Fair Value Measurements
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Asset (liability)
December 31, 2019:
Marketable securities:
Current	$	2.1	$	-	$	2.1
Noncurrent		6.2		1.3		4.9
December 31, 2020:
Marketable securities:
Current	$	4.4	$	-	$	4.4
Noncurrent		2.9		.2		2.7

See Note 6 for information on how we determine the fair value of our marketable securities.

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2019 and 2020:

	December 31, 2019				December 31, 2020
	Carrying amount		Fair value		Carrying amount		Fair value
	(In millions)
Cash, cash equivalents and restricted cash equivalents	$	583.8	$	583.8	$	570.3	$	570.3
Deferred payment obligation		9.9		9.9		1.3		1.3
Long-term debt (excluding capitalized leases):
Kronos Senior Notes		442.6		457.0		485.7		499.9
Valhi credit facility with Contran		313.0		313.0		270.7		270.7
Tremont promissory note payable		2.0		2.0		-		-
BMI bank note payable		17.2		17.9		16.3		16.9
LandWell note payable to the City of Henderson		1.6		1.6		-		-
LandWell bank note payable		15.0		15.0		14.2		14.2

At December 31, 2020, the estimated market price of Kronos’ Senior Notes was €1,019 per €1,000 principal amount. The fair value of Kronos’ Senior Notes was based on quoted market prices; however, these quoted market prices represent Level 2 inputs because the markets in which the Senior Notes trade were not active. Fair values of variable interest rate debt and other fixed-rate debt are deemed to approximate book value. Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value. See Notes 4 and 10.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2020

Accounting Changes And Error Corrections [Abstract]

Recent Accounting Pronouncements

Note 20—Recent accounting pronouncements:

In December 2019, The Financial Accounting Standards Board issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which changes the accounting for certain income tax transactions and reduces complexity in accounting for income taxes in certain areas. The ASU introduces new guidance including providing a policy election for an entity to not allocate consolidated current and deferred tax expense when a member of a consolidated tax return is not subject to income tax in its separate financial statements and is a disregarded entity by the taxing authority; and providing guidance to evaluate whether a step-up in tax basis of goodwill relates to a business combination in which book goodwill was recognized or a separate transaction. The ASU also changes existing guidance in a number of areas, including: the method of making an intraperiod allocation of total income tax expense if there is a loss in continuing operations and gains outside of continuing operations; determining when a deferred tax liability is recognized after an investor in a non-U.S. entity transitions to or from the equity method of accounting; accounting for tax law changes and year-to-date losses in interim periods; and determining how to apply the income tax guidance to franchise taxes that are partially based on income. We adopted this ASU as of January 1, 2020. The adoption of this ASU did not have a material effect on our Consolidated Financial Statements.

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2020

Disclosure Quarterly Results Of Operations Schedule Of Quarterly Results Of Operations [Abstract]

Quarterly Results of Operations (Unaudited)

Note 21—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, 2019
Net sales	$	479.6	$	528.6		$	475.2	$	414.1
Gross margin		121.8		123.2			98.4		91.2
Operating income		60.4		65.9			41.4		25.0
Net income from continuing operations		28.4		18.2			17.2		14.4
Amounts attributable to Valhi stockholders:
Net income	$	18.2	$	7.1		$	13.1	$	10.8
Basic and diluted income per share	$	.64	$	.25		$	.46	$	.38
Year ended December 31, 2020
Net sales	$	459.3	$	415.0		$	458.6	$	516.8
Gross margin		99.7		104.0			89.7		118.7
Operating income		71.0		39.3			28.9		46.9
Net income from continuing operations		37.9		(4.2	)		19.4		31.6
Amounts attributable to Valhi stockholders:
Income from continuing operations	$	24.4	$	(9.1	)	$	15.4	$	20.2
Income from discontinued operations		-		-			-		4.3
Net income	$	24.4	$	(9.1	)	$	15.4	$	24.5
Earnings per share:
Income from continuing operations	$	.86	$	(.32	)	$	.54	$	.71
Income from discontinued operations		-		-			-		.15
Basic and diluted income per share	$	.86	$	(.32	)	$	.54	$	.86

We recognized the following amounts during 2019:

•

a pre-tax charge of $19.3 million related to a litigation settlement expense primarily recognized in the second quarter (see Note 18);

•

pre-tax income from tax increment infrastructure reimbursement of $8.8 million primarily recognized in the second quarter (see Note 7);

•

pre-tax insurance recoveries of $7.7 million primarily related to a single insurance recovery settlement recognized in the second quarter (see Note 13);

•

a pre-tax gain on sale of land of $4.4 million in the third quarter (see Note 13); and

•

a pre-tax gain of $3.0 million related to NL’s sale of its insurance and risk management business recognized in the fourth quarter (see Note 13).

We recognized the following amounts during 2020:

•

pre-tax income from tax increment infrastructure reimbursement of $19.1 million recognized in the first quarter (see Note 7);

•

a pre-tax gain of $4.0 million recognized in the third quarter for proceeds received related to a prior land sale (see Note 13); and

•

a pre-tax gain of $4.9 million for the settlement of an earn-out provision related to the sale of our Waste Management Segment recognized in the fourth quarter (see Note 3).

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.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Nature of our Business

Organization

Unless otherwise indicated, references in this report to “we,” “us” or “our” refer to Valhi, Inc. and its subsidiaries, taken as a whole.

Management's Estimates

Principles of Consolidation

Foreign Currency Translation

Cash and Cash Equivalents

Cash and cash equivalents. We classify bank time deposits and highly-liquid investments with original maturities of three months or less as cash equivalents.

Restricted Cash and Cash Equivalents

Marketable Securities and Securities Transactions

●

Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

●

Level 2—Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the assets or liability; and

●

Level 3—Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable.

Accounts Receivable

Accounts receivable. We provide an allowance for doubtful accounts for known and estimated potential losses arising from our sales to customers based on a periodic review of these accounts.

Inventories and Cost of Sales

Land Held for Development

Investment In TiO2 Manufacturing Joint Venture

Leases

Goodwill and Other Intangible Assets; Amortization Expense

Property and Equipment; Depreciation Expense

Asset		Useful lives
Buildings and improvements		10 to 40 years
Machinery and equipment		3 to 20 years
Mine development costs		Units-of-production

We expense expenditures for maintenance, repairs and minor renewals as incurred that do not improve or extend the life of the assets, including planned major maintenance.

Long-Term Debt

Employee Benefit Plans

Income Taxes

Environmental Remediation and Related Costs

Revenue Recognition

Selling, General and Administrative Expenses; Shipping and Handling Costs; Advertising Costs; Research and Development Costs

Recent accounting pronouncements

Business and Geographic Segments (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Holding Percentage of Subsidiaries

Business segment	Entity	% controlled at December 31 2020
Chemicals	Kronos	80	%
Component products	CompX	86	%
Real estate management and development	BMI and LandWell	63% - 77	%

Segment Operating Performance

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net sales:
Chemicals	$	1,661.9		$	1,731.2		$	1,638.8
Component products		118.2			124.2			114.5
Real estate management and development		40.0			42.1			96.4
Total net sales	$	1,820.1		$	1,897.5		$	1,849.7
Cost of sales:
Chemicals	$	1,101.7		$	1,346.8		$	1,291.0
Component products		79.9			85.3			81.7
Real estate management and development		29.3			30.8			64.9
Total cost of sales	$	1,210.9		$	1,462.9		$	1,437.6
Gross margin:
Chemicals	$	560.2		$	384.4		$	347.8
Component products		38.3			38.9			32.8
Real estate management and development		10.7			11.3			31.5
Total gross margin	$	609.2		$	434.6		$	412.1
Operating income:
Chemicals	$	342.9		$	160.1		$	126.5
Component products		17.8			17.8			11.8
Real estate management and development		10.0			14.8			47.8
Total operating income		370.7			192.7			186.1
General corporate items:
Securities earnings		38.5			11.2			4.7
Insurance recoveries		1.3			7.7			1.6
Gain on land sales		12.5			4.4			.5
Gain on sale of business		-			3.0			-
Other components of net periodic pension and OPEB expense		(14.5	)		(16.5	)		(20.1	)
Litigation settlement expense, net		(62.0	)		(19.3	)		-
Changes in market value of Valhi common stock held by subsidiaries		(12.2	)		(.2	)		(1.7	)
General expenses, net		(42.4	)		(37.5	)		(34.3	)
Interest expense		(55.7	)		(40.8	)		(36.2	)
Income from continuing operations before income taxes	$	236.2		$	104.7		$	100.6

	Years ended December 31,
	2018		2019		2020
	(In millions)
Depreciation and amortization:
Chemicals	$	52.0	$	50.2	$	61.9
Component products		3.5		3.7		3.8
Real estate management and development		2.9		2.9		2.8
Total	$	58.4	$	56.8	$	68.5
Capital expenditures:
Chemicals	$	56.3	$	55.1	$	62.8
Component products		3.1		3.2		1.7
Waste management⁽¹⁾		.1		-		-
Real estate management and development		1.9		1.6		1.0
Total	$	61.4	$	59.9	$	65.5

Total Assets Held by Business Segments

	December 31,
	2018		2019		2020
	(In millions)
Total assets:
Operating segments:
Chemicals	$	2,266.6	$	2,331.8	$	2,400.7
Component products		120.4		132.5		138.0
Real estate management and development		218.5		191.6		171.3
Corporate and eliminations		104.1		138.5		179.3
Total	$	2,709.6	$	2,794.4	$	2,889.3

⁽¹⁾Denotes discontinued operations

Net Sales by Point of Origin and Point of Destination

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net sales - point of origin:
United States	$	997.6		$	1,164.8		$	1,189.8
Germany		886.1			883.6			836.0
Canada		307.2			328.7			319.5
Belgium		272.2			270.7			249.5
Norway		209.6			192.2			211.8
Eliminations		(852.6	)		(942.5	)		(956.9	)
Total	$	1,820.1		$	1,897.5		$	1,849.7
Net sales - point of destination:
North America	$	698.7		$	740.1		$	778.2
Europe		817.6			824.2			783.8
Asia and other		303.8			333.2			287.7
Total	$	1,820.1		$	1,897.5		$	1,849.7

Net Property and Equipment by Segment

	December 31,
	2018		2019		2020
	(In millions)
Net property and equipment:
United States	$	74.5	$	72.0	$	67.8
Germany		245.8		233.6		237.5
Canada		66.1		73.1		88.6
Norway		81.0		87.9		88.1
Belgium		96.1		96.4		108.4
Total	$	563.5	$	563.0	$	590.4

Business Combinations, Dispositions and Related Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Waste Control Specialists

Schedule of Operations of Disposed Waste Management Segment

Selected financial data for the operations of the disposed Waste Management Segment for the period prior to completing the sale is presented below.

	Year ended
	December 31,
	2018
	(In millions)

Net sales:	$	4.6

Operating loss	$	(.4	)
Termination fee		-
Other expense, net		-
Interest expense, net		(.3	)
Loss before taxes		(.7	)
Income tax benefit		(.1	)
Net loss	$	(.6	)

Pre-tax gain on disposal	$	58.4
Income tax expense		23.7
After-tax gain on disposal		34.7

Total	$	34.1

Net cash provided by operating activities	$	2.3

Net cash used in investing activities		(.1	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Accounts and Other Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Components of Accounts and Other Receivables

	December 31,
	2019			2020
	(In millions)
Trade accounts receivable:
Kronos	$	270.5		$	294.8
CompX		11.9			10.8
BMI/LandWell		1.6			1.2
VAT and other receivables		31.2			27.2
Allowance for doubtful accounts		(1.2	)		(1.9	)
Total	$	314.0		$	332.1

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories, Net

	December 31,
	2019		2020
	(In millions)
Raw materials:
Chemicals	$	124.4	$	133.2
Component products		2.9		3.2
Total raw materials		127.3		136.4
Work in process:
Chemicals		39.0		36.8
Component products		11.8		11.7
Total in-process products		50.8		48.5
Finished products:
Chemicals		270.7		270.0
Component products		3.6		3.5
Total finished products		274.3		273.5
Supplies (chemicals)		69.7		79.8
Total	$	522.1	$	538.2

Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Schedule of Marketable Securities

	Market value		Cost basis		Unrealized gains (losses), net
	(In millions)
December 31, 2019:
Current assets	$	2.1	$	2.1	$	-

Noncurrent assets	$	6.2	$	6.2	$	-
December 31, 2020:
Current assets	$	4.4	$	4.4	$	-

Noncurrent assets	$	2.9	$	2.9	$	-

Schedule of Marketable Securities and Fair Value Measurements

	Fair Value Measurements
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
December 31, 2019:
Current assets	$	2.1	$	-	$	2.1
Noncurrent assets:
Fixed income securities	$	4.9	$	-	$	4.9
Common stocks and exchange traded funds		1.3		1.3		-
Total	$	6.2	$	1.3	$	4.9
December 31, 2020:
Current assets	$	4.4	$	-	$	4.4
Noncurrent assets:
Fixed income securities	$	2.7	$	-	$	2.7
Common stocks		.2		.2		-
Total	$	2.9	$	.2	$	2.7

Investment in TiO2 Manufacturing Joint Venture and Other Assets (Tables)

12 Months Ended

Dec. 31, 2020

Other Noncurrent Assets

	December 31,
	2019		2020
	(In millions)
Other assets:
Land held for development	$	125.3	$	96.0
Operating lease right-of-use assets		29.0		26.1
Restricted cash and cash equivalents		33.0		37.8
IBNR receivables		8.5		37.1
Note receivables - OPA		8.8		25.3
Other		11.9		8.7
Total	$	216.5	$	231.0

Schedule of Maturities of Operating Lease Liabilities

At December 31, 2020, maturities of our operating lease liabilities were as follows:

Years ending December 31,	Amount
	(In millions)
2021	$	7.4
2022		4.1
2023		2.7
2024		1.8
2025		1.3
2026 and thereafter		20.1
Total remaining lease payments		37.4
Less imputed interest		11.9
Total lease obligations		25.5
Less current obligations		6.7
Long term lease obligations	$	18.8

LPC

Summary of Net Distributions, Balance Sheets and Income Statements

The components of our net cash distributions from (contributions to) LPC are shown in the table below.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Distributions from LPC	$	34.3		$	40.6		$	32.7
Contributions to LPC		(30.3	)		(49.9	)		(45.5	)
Net distributions (contributions)	$	4.0		$	(9.3	)	$	(12.8	)

Summary balance sheets of LPC are shown below:

	December 31,
	2019		2020
	(In millions)
ASSETS
Current assets	$	94.6	$	105.8
Property and equipment, net		121.3		134.1
Total assets	$	215.9	$	239.9
LIABILITIES AND PARTNERS' EQUITY
Other liabilities, primarily current	$	32.8	$	30.6
Partners' equity		183.1		209.3
Total liabilities and partners' equity	$	215.9	$	239.9

Summary income statements of LPC are shown below:

	Years ended December 31,
	2018		2019		2020
	(In millions)
Revenues and other income:
Kronos	$	165.9	$	176.2	$	167.8
Venator Investments		167.0		177.0		168.3
Total		332.9		353.2		336.1
Cost and expenses:
Cost of sales		332.5		352.8		335.7
General and administrative		.4		.4		.4
Total		332.9		353.2		336.1
Net income	$	-	$	-	$	-

Goodwill (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The Component Products Segment goodwill is assigned to the security products reporting unit within that operating segment.

	Operating segment
	Chemicals		Component Products		Total
	(In millions)
Balance at December 31, 2018, 2019 and 2020	$	352.6	$	27.1	$	379.7

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

	December 31,
	2019			2020
	(In millions)
Valhi:
Contran credit facility	$	313.0		$	270.7
Subsidiary debt:
Kronos:
Senior Secured Notes		442.6			485.7
Tremont:
Promissory note payable		2.0			-
BMI:
Bank loan Western Alliance Bank		17.2			16.3
LandWell:
Note payable to Western Alliance Business Trust		15.0			14.2
Note payable to the City of Henderson		1.6			-
Other		2.9			1.7
Total subsidiary debt		481.3			517.9
Total debt		794.3			788.6
Less current maturities		(4.9	)		(2.4	)
Total long-term debt	$	789.4		$	786.2

Aggregate Maturities of Long-Term Debt

Aggregate maturities of debt at December 31, 2020 are presented in the table below.

Years ending December 31,	Amount
	(In millions)
Gross amounts due each year:
2021	$	2.4
2022		273.2
2023		2.2
2024		1.9
2025		492.5
2026 and thereafter		21.9
Subtotal	$	794.1
Less amounts representing original issue discount and debt issuance costs		(5.5	)
Total long-term debt	$	788.6

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 1
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+ Details

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

	December 31,
	2019		2020
	(In millions)
Accounts payable:
Kronos	$	137.2	$	111.0
CompX		2.5		2.6
BMI/LandWell		3.7		3.6
NL		.9		-
Other		.4		.4
Total	$	144.7	$	117.6
Current accrued liabilities:
Employee benefits	$	30.6	$	37.5
Operating lease liabilities		6.2		6.7
Accrued sales discounts and rebates		33.7		30.2
Deferred income		10.3		20.1
Environmental remediation and related costs		4.5		3.4
Interest		5.2		5.7
Other		40.0		39.4
Total	$	130.5	$	143.0
Noncurrent accrued liabilities:
Other postretirement benefits	$	10.5	$	10.8
Operating lease liabilities		22.2		18.8
Reserve for uncertain tax positions		13.6		6.8
Deferred income		47.4		58.9
Employee benefits		6.0		6.2
Insurance claims and expenses		11.0		39.3
Deferred payment obligation		9.9		1.3
Accrued development costs		8.3		24.6
Other		8.2		7.8
Total	$	137.1	$	174.5

Defined Contribution and Defined Benefit Retirement (Tables) - Defined Benefit Pension Plans

12 Months Ended

Dec. 31, 2020

Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)

The table below details the changes in other comprehensive income (loss) during 2018, 2019 and 2020

	Years ended December 31,
	2018			2019			2020
	(In millions)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial gain (loss)	$	(27.0	)	$	(47.2	)	$	(37.7	)
Amortization of unrecognized:
Prior service cost		.2			.2			.2
Net actuarial losses		15.2			15.0			19.4
Total	$	(11.6	)	$	(32.0	)	$	(18.1	)

Composition of Pension Plan Assets

The composition of our pension plan assets by asset category and fair value level at December 31, 2019 and 2020 is shown in the tables below.

	Fair Value Measurements at December 31, 2019
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Assets measured at NAV
	(In millions)
Germany	$	264.5	$	-	$	-	$	264.5	$	-
Canada:
Local currency equities		8.3		8.3		-		-		-
Non local currency equities		16.3		16.3		-		-		-
Local currency fixed income		80.9		80.9		-		-		-
Cash and other		.6		.6		-		-		-
Norway:
Local currency equities		1.6		1.6		-		-		-
Non local currency equities		4.2		4.2		-		-		-
Local currency fixed income		22.8		14.1		8.7		-		-
Non local currency fixed income		8.3		8.3		-		-		-
Real estate		6.6		-		-		6.6		-
Cash and other		8.2		7.4		-		.8		-
U.S.						-		-
Equities		19.2		5.4		-		.6		13.2
Fixed income		23.3		23.3		-		-		-
Cash and other		6.0		4.6		-		-		1.4
Other		27.6		16.6		-		11.0		-
Total	$	498.4	$	191.6	$	8.7	$	283.5	$	14.6

	Fair Value Measurements at December 31, 2020
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Assets measured at NAV
	(In millions)
Germany	$	292.5	$	-	$	-	$	292.5	$	-
Canada:
Local currency equities		.2		.2		-		-		-
Non local currency equities		26.6		26.6		-		-		-
Local currency fixed income		87.3		87.3		-		-		-
Cash and other		.9		.9		-		-		-
Norway:
Local currency equities		3.2		3.2		-		-		-
Non local currency equities		6.3		6.3		-		-		-
Local currency fixed income		26.4		16.3		10.1		-		-
Non local currency fixed income		7.7		7.7		-		-		-
Real estate		7.1		-		-		7.1		-
Cash and other		5.5		4.8		-		.7		-
U.S.
Equities		20.9		3.1		-		.7		17.1
Fixed income		26.8		26.8		-		-		-
Cash and other		5.7		4.4		-		-		1.3
Other		31.1		17.3		-		13.8		-
Total	$	548.2	$	204.9	$	10.1	$	314.8	$	18.4

Schedule of Rollforward of Change in Fair Value of Level 3 Assets

A rollforward of the change in fair value of Level 3 assets follows.

	Years ended December 31,
	2019			2020
	(In millions)
Fair value at beginning of year	$	259.6		$	283.5
Gain on assets held at end of year		30.2			4.4
Loss on assets sold during the year		(1.1	)		-
Assets purchased		16.0			14.4
Assets sold		(14.9	)		(14.2	)
Transfer in		-			-
Currency exchange rate fluctuations		(6.3	)		26.7
Fair value at end of year	$	283.5		$	314.8

U.S.

Schedule of Defined Benefit Plan Expected Future Payments

Benefit payments to plan participants out of plan assets are expected to be the equivalent of:

2021	$ 27.5 million
2022	28.9 million
2023	28.7 million
2024	30.6 million
2025	30.6 million
Next 5 years	177.6 million

Schedule of Funded Status

The funded status of our U.S. defined benefit pension plans is presented in the table below.

	Years ended December 31,
	2019			2020
	(In millions)
Change in projected benefit obligations ("PBO"):
Balance at beginning of the year	$	57.6		$	60.6
Interest cost		2.3			1.9
Actuarial losses		4.9			5.0
Benefits paid		(4.2	)		(4.3	)
Balance at end of the year	$	60.6		$	63.2
Change in plan assets:
Fair value at beginning of the year	$	43.2		$	48.4
Actual return on plan assets		5.5			6.8
Employer contributions		3.9			2.4
Benefits paid		(4.2	)		(4.3	)
Fair value at end of the year	$	48.4		$	53.3
Funded status	$	(12.2	)	$	(9.9	)
Amounts recognized in the Consolidated Balance Sheets:
Accrued pension costs:
Current	$	(.3	)	$	(.2	)
Noncurrent		(11.9	)		(9.7	)
Total		(12.2	)		(9.9	)
Accumulated other comprehensive loss — actuarial loss		38.5			36.7
Total	$	26.3		$	26.8
Accumulated benefit obligations ("ABO")	$	60.6		$	63.2

Components of Net Periodic Defined Benefit Cost (Credit)

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net periodic pension benefit cost (credit) for U.S. plans
Interest cost	$	2.2		$	2.3		$	1.9
Expected return on plan assets		(3.4	)		(2.3	)		(2.1	)
Amortization of unrecognized net actuarial loss		2.0			2.2			2.1
Total	$	.8		$	2.2		$	1.9

Schedule of Plans for which Accumulated Benefit Obligations Exceeds Plan Assets

Information concerning our U.S. defined benefit pension plans (for which the ABO of all of the plans exceeds the fair value of plan assets as of the indicated date) is presented in the table below.

	December 31,
	2019		2020
	(In millions)
Plans for which the ABO exceeds plan assets:
Projected benefit obligations	$	60.6	$	63.2
Accumulated benefit obligations		60.6		63.2
Fair value of plan assets		48.4		53.3

Summary of Actuarial Assumptions Used to Determine the Benefit Obligation and Net Benefit Cost

	Years ended December 31,
	2018			2019			2020
Discount rate		3.5	%		4.1	%		3.1	%
Long-term return on plan assets		7.5	%		5.5	%		4.5	%

Non U.S.

Schedule of Funded Status

The funded status of our non-U.S. defined benefit pension plans is presented in the table below.

	Years ended December 31,
	2019			2020
	(In millions)
Change in PBO:
Balance at beginning of the year	$	667.2		$	746.4
Service cost		12.8			13.3
Interest cost		13.5			10.1
Participants' contributions		1.6			1.9
Actuarial loss		82.0			47.5
Plan settlement		(1.0	)		-
Change in currency exchange rates		(6.6	)		58.8
Benefits paid		(23.1	)		(22.2	)
Balance at end of the year	$	746.4		$	855.8
Change in plan assets:
Fair value at beginning of the year	$	410.7		$	450.0
Actual return on plan assets		47.0			19.2
Employer contributions		15.5			16.0
Participants' contributions		1.6			1.9
Change in currency exchange rates		(1.7	)		29.9
Benefits paid		(23.1	)		(22.2	)
Fair value at end of the year	$	450.0		$	494.8
Funded status	$	(296.4	)	$	(361.0	)
Amounts recognized in the Consolidated Balance Sheets:
Pension asset	$	7.4		$	8.4
Accrued pension costs:
Noncurrent		(303.8	)		(369.4	)
Total		(296.4	)		(361.0	)
Accumulated other comprehensive loss:
Actuarial loss	286.8				307.0
Prior service cost		1.0			.7
Total		287.8			307.7
Total	$	(8.6	)	$	(53.3	)
ABO	$	720.3		$	838.2

Components of Net Periodic Defined Benefit Cost (Credit)

The components of our net periodic pension benefit cost for our foreign plans are presented in the table below.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net periodic pension cost for foreign plans:
Service cost	$	11.6		$	12.8		$	13.3
Interest cost		13.8			13.5			10.1
Expected return on plan assets		(12.7	)		(11.9	)		(9.0	)
Amortization of unrecognized:
Prior service cost		.2			.2			.2
Net actuarial loss		13.2			12.8			17.3
Total	$	26.1		$	27.4		$	31.9

Schedule of Plans for which Accumulated Benefit Obligations Exceeds Plan Assets

Information concerning certain of our non-U.S. defined benefit pension plans (for which the ABO exceeds the fair value of plan assets as of the indicated date) is presented in the table below.

	December 31,
	2019		2020
	(In millions)
Plans for which the ABO exceeds plan assets:
Projected benefit obligations	$	685.4	$	800.2
Accumulated benefit obligations		663.3		777.4
Fair value of plan assets		381.7		430.8

Summary of Actuarial Assumptions Used to Determine the Benefit Obligation and Net Benefit Cost

The key actuarial assumptions used to determine our foreign benefit obligations as of December 31, 2019 and 2020 are as follows:

	December 31,
	2019			2020
Discount rate		1.4	%		1.0	%
Increase in future compensation levels		2.6	%		2.6	%

A summary of our key actuarial assumptions used to determine foreign net periodic benefit cost for 2018, 2019 and 2020 are as follows:

	Years ended December 31,
	2018			2019			2020
Discount rate		2.1	%		2.1	%		1.4	%
Increase in future compensation levels		2.6	%		2.6	%		2.6	%
Long-term return on plan assets		3.0	%		2.9	%		2.0	%

Disaggregation of Sales (Tables)

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Schedule of Disaggregates of Net Sales

	Years ended December 31,
	2018			2019			2020
	(In millions)
Net sales - point of origin:
Germany	$	886.1		$	883.6		$	836.0
United States		839.4			998.5			978.8
Canada		307.2			328.7			319.5
Belgium		272.2			270.7			249.5
Norway		209.6			192.2			211.8
Eliminations		(852.6	)		(942.5	)		(956.8	)
Total	$	1,661.9		$	1,731.2		$	1,638.8

Net sales - point of destination:
Europe	$	817.2		$	823.5		$	783.2
North America		542.0			575.6			569.3
Other		302.7			332.1			286.3
Total	$	1,661.9		$	1,731.2		$	1,638.8

	Years ended December 31,
	2018		2019		2020
	(In millions)
Component Products:
Net sales:
Security products	$	98.4	$	99.3	$	87.9
Marine components		19.8		24.9		26.6
Total	$	118.2	$	124.2	$	114.5
Real Estate Management and Development:
Net sales:
Land sales	$	32.3	$	33.5	$	87.0
Water delivery		5.6		6.8		7.6
Utility and other		2.1		1.8		1.8
Total	$	40.0	$	42.1	$	96.4

Other Income, Net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Schedule of Components of Other Income

	Years ended December 31,
	2018			2019			2020
	(In millions)
Securities earnings:
Dividends and interest	$	26.1		$	10.9		$	4.8
Securities transactions, net		12.4			.3			(.1	)
Total		38.5			11.2			4.7
Gain on land sales		12.5			4.4			4.5
Gain on sale of business		-			3.0			-
Insurance recoveries		1.3			7.7			1.6
Currency transactions, net		10.1			2.0			(4.0	)
Disposal of property and equipment, net		(.3	)		(.3	)		(.2	)
Infrastructure reimbursements		4.3			9.2			19.7
Other, net		2.8			3.7			2.1
Total	$	69.2		$	40.9		$	28.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Component of Income Taxes Expenses

	Years ended December 31,
	2018			2019			2020
	(In millions)
Pre-tax income (loss):
United States	$	(22.5	)	$	23.5		$	45.2
Non-U.S. subsidiaries		258.7			81.2			55.4
Total	$	236.2		$	104.7		$	100.6
Expected tax expense at U.S. federal statutory income tax rate of 21%	$	49.6		$	22.0		$	21.1
Non-U.S. tax rates		20.8			5.2			.5
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. tax group companies		(167.8	)		(4.5	)		(8.7	)
Valuation allowance		-			4.5			3.8
Transition tax		(2.1	)		-			-
Global intangible low-tax income, net		4.0			1.8			2.2
Tax rate changes		58.8			4.7			(.2	)
U.S. state income taxes, net		.6			(.3	)		.9
Adjustment to the reserve for uncertain tax positions, net		4.1			(5.1	)		(3.8	)
Nondeductible expenses		3.0			1.5			1.0
Canada - Germany APA		(1.4	)		-			-
Refund of prior tax payments, net		-			(2.1	)		-
Other, net		(.3	)		(1.2	)		(.9	)
Income tax expense (benefit)	$	(30.7	)	$	26.5		$	15.9
Components of income tax expense (benefit):
Currently payable:
U.S. federal and state	$	34.1		$	4.3		$	13.3
Non-U.S.		51.1			22.0			14.9
Total		85.2			26.3			28.2
Deferred income taxes (benefit):
U.S. federal and state		(145.5	)		(4.1	)		(10.3	)
Non-U.S.		29.6			4.3			(2.0	)
Total		(115.9	)		.2			(12.3	)
Income tax expense (benefit)	$	(30.7	)	$	26.5		$	15.9
Comprehensive provision for income taxes (benefit) allocable to:
Income (loss) from continuing operations	$	(30.7	)	$	26.5		$	15.9
Discontinued operations		23.7			-			.6
Retained earnings-change in accounting principle		1.1			-			-
Other comprehensive income (loss):
Currency translation		(4.2	)		(.2	)		1.6
Pension plans		(4.7	)		(15.6	)		(7.3	)
Other		(.4	)		(.5	)		(.4	)
Total	$	(15.2	)	$	10.2		$	10.4

Components of Net Deferred Tax Asset (Liability)

The components of the net deferred income taxes at December 31, 2019 and 2020 are summarized in the following table.

	December 31,
	2019						2020
	Assets			Liabilities			Assets			Liabilities
	(In millions)
Tax effect of temporary differences related to:
Inventories	$	3.7		$	-		$	1.9		$	-
Property and equipment		-			(61.8	)		-			(67.2	)
Lease assets (liabilities)		5.9			(6.1	)		6.3			(6.5	)
Accrued OPEB costs		2.8			-			3.0			-
Accrued pension costs		80.6			-			100.5			-
Accrued environmental liabilities		33.8			-			31.0			-
Other deductible differences		8.3			-			9.2			-
Other taxable differences		-			(13.7	)		-			(13.1	)
Investments in subsidiaries and affiliates		2.6			(54.4	)		2.7			(48.1	)
Tax on unremitted earnings of non-U.S. subsidiaries		-			(10.8	)		-			(12.0	)
Tax loss and tax credit carryforwards		91.2			-			100.4			-
Valuation allowance		(14.2	)		-			(17.5	)		-
Adjusted gross deferred tax assets (liabilities)		214.7			(146.8	)		237.5			(146.9	)
Netting of items by tax jurisdiction		(108.7	)		108.7			(117.3	)		117.3
Net noncurrent deferred tax asset (liability)	$	106.0		$	(38.1	)	$	120.2		$	(29.6	)

Changes in Uncertain Tax Positions

	Years ended December 31,
	2018			2019			2020
	(In millions)
Unrecognized tax benefits:
Amount at beginning of year	$	17.1		$	21.0		$	13.8
Net increase (decrease):
Tax positions taken in prior periods		1.3			(5.6	)		(.3	)
Tax positions taken in current period		4.5			.7			.6
Lapse due to applicable statute of limitations		(1.8	)		-			(4.8	)
Settlement with taxing authorities		-			(2.2	)		-
Changes in currency exchange rates		(.1	)		(.1	)		.3
Amount at end of year	$	21.0		$	13.8		$	9.6

Noncontrolling Interest in Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2020

Noncontrolling Interest [Abstract]

Noncontrolling Interest in Net Assets of Subsidiaries

	December 31,
	2019		2020
	(In millions)
Noncontrolling interest in net assets:
Kronos Worldwide	$	216.6	$	212.3
NL Industries		65.8		67.1
CompX International		22.7		23.5
BMI		20.1		14.7
LandWell		14.9		6.8
Total	$	340.1	$	324.4

Schedule of Noncontrolling Interest in Net Income of Subsidiaries

	Years ended December 31,
	2018			2019		2020
	(In millions)
Noncontrolling interest in net income (loss) of subsidiaries:
Kronos Worldwide	$	39.9		$	16.9	$	12.1
NL Industries		(7.0	)		4.4		2.5
CompX International		2.0			2.2		1.4
BMI		1.5			2.2		7.6
LandWell		2.4			3.3		10.2
Total	$	38.8		$	29.0	$	33.8

Valhi Stockholder's Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders Equity Note [Abstract]

Schedule of Common Stock Outstanding

	Shares of common stock
	Issued		Treasury			Outstanding
	(In millions)
Balance at December 31, 2018, 2019 and 2020		29.6		(1.1	)		28.5

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) attributable to Valhi stockholders comprises changes in equity as presented in the table below.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Accumulated other comprehensive income (loss) (net of tax and noncontrolling interest):
Marketable securities:
Balance at beginning of year	$	1.7		$	1.7		$	1.7
Other comprehensive income:
Unrealized gain arising during the year		-			-			.1
Balance at end of year	$	1.7		$	1.7		$	1.8
Currency translation:
Balance at beginning of year	$	(54.1	)	$	(75.6	)	$	(76.8	)
Other comprehensive gain (loss) arising during the year		(21.5	)		(1.2	)		9.4
Balance at end of year	$	(75.6	)	$	(76.8	)	$	(67.4	)
Defined benefit pension plans:
Balance at beginning of year	$	(129.0	)	$	(134.0	)	$	(146.6	)
Other comprehensive income (loss):
Amortization of prior service cost and net losses included in net periodic pension cost		7.6			7.2			9.8
Net actuarial loss arising during the year		(12.6	)		(19.8	)		(17.3	)
Balance at end of year	$	(134.0	)	$	(146.6	)	$	(154.1	)
OPEB plans:
Balance at beginning of year	$	2.4		$	1.7		$	1.0
Other comprehensive loss:
Amortization of prior service credit and net losses included in net periodic OPEB cost		(.8	)		(.8	)		(.8	)
Net actuarial gain arising during the year		.1			.1			.1
Balance at end of year	$	1.7		$	1.0		$	.3
Total accumulated other comprehensive loss:
Balance at beginning of year	$	(179.0	)	$	(206.2	)	$	(220.7	)
Other comprehensive income (loss)		(27.2	)		(14.5	)		1.3
Balance at end of year	$	(206.2	)	$	(220.7	)	$	(219.4	)

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Receivables from and Payables to Affiliates

Receivables from and payables to affiliates are summarized in the table below.

	December 31,
	2019		2020
	(In millions)
Current receivables from affiliates:
Contran trade items	$	.4	$	1.7
Louisiana Pigment Company, L.P.		4.7		-
Other		2.2		2.8
Total	$	7.3	$	4.5
Current payables to affiliates:
Louisiana Pigment Company, L.P.	$	16.4	$	19.3
Contran income taxes		4.0		8.3
Total	$	20.4	$	27.6
Noncurrent payable to affiliates:
Contran - income taxes	$	56.3	$	50.4
Payables to affiliate included in long-term debt
Valhi - Contran credit facility	$	313.0	$	270.7

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Change in Accrued Environmental Remediation and Related Costs

The table below presents a summary of the activity in our accrued environmental costs during 2018, 2019, and 2020.

	Years ended December 31,
	2018			2019			2020
	(In millions)
Balance at the beginning of the year	$	117.5		$	103.4		$	99.7
Additions charged to expense, net		3.1			.3			.7
Payments, net		(17.2	)		(4.0	)		(1.9	)
Changes in currency exchange rates and other		-			-			.1
Balance at the end of the year	$	103.4		$	99.7		$	98.6
Amounts recognized in our Consolidated Balance Sheet at the end of the year:
Current liabilities	$	6.5		$	4.5		$	3.4
Noncurrent liabilities		96.9			95.2			95.2
Total	$	103.4		$	99.7		$	98.6

Approximate Percentage of TiO2 Sales by Volume for Segments

The table below shows the approximate percentage of our Chemicals Segment’s TiO

	2018			2019			2020
Europe		44	%		46	%		46	%
North America		37	%		34	%		36	%

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Short-term Investments and Financial Instruments Carried at Fair Value

The following table summarizes the valuation of our short-term investments and financial instruments by the ASC Topic 820 categories as of December 31, 2019 and 2020:

	Fair Value Measurements
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Asset (liability)
December 31, 2019:
Marketable securities:
Current	$	2.1	$	-	$	2.1
Noncurrent		6.2		1.3		4.9
December 31, 2020:
Marketable securities:
Current	$	4.4	$	-	$	4.4
Noncurrent		2.9		.2		2.7

Financial Instruments not Carried at Fair Value

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2019 and 2020:

	December 31, 2019				December 31, 2020
	Carrying amount		Fair value		Carrying amount		Fair value
	(In millions)
Cash, cash equivalents and restricted cash equivalents	$	583.8	$	583.8	$	570.3	$	570.3
Deferred payment obligation		9.9		9.9		1.3		1.3
Long-term debt (excluding capitalized leases):
Kronos Senior Notes		442.6		457.0		485.7		499.9
Valhi credit facility with Contran		313.0		313.0		270.7		270.7
Tremont promissory note payable		2.0		2.0		-		-
BMI bank note payable		17.2		17.9		16.3		16.9
LandWell note payable to the City of Henderson		1.6		1.6		-		-
LandWell bank note payable		15.0		15.0		14.2		14.2

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Quarterly Results Of Operations Schedule Of Quarterly Results Of Operations [Abstract]

Schedule of Quarterly Results of Operations

	Quarter ended
	March 31		June 30			Sept. 30		Dec. 31
	(In millions, except per share data)
Year ended December 31, 2019
Net sales	$	479.6	$	528.6		$	475.2	$	414.1
Gross margin		121.8		123.2			98.4		91.2
Operating income		60.4		65.9			41.4		25.0
Net income from continuing operations		28.4		18.2			17.2		14.4
Amounts attributable to Valhi stockholders:
Net income	$	18.2	$	7.1		$	13.1	$	10.8
Basic and diluted income per share	$	.64	$	.25		$	.46	$	.38
Year ended December 31, 2020
Net sales	$	459.3	$	415.0		$	458.6	$	516.8
Gross margin		99.7		104.0			89.7		118.7
Operating income		71.0		39.3			28.9		46.9
Net income from continuing operations		37.9		(4.2	)		19.4		31.6
Amounts attributable to Valhi stockholders:
Income from continuing operations	$	24.4	$	(9.1	)	$	15.4	$	20.2
Income from discontinued operations		-		-			-		4.3
Net income	$	24.4	$	(9.1	)	$	15.4	$	24.5
Earnings per share:
Income from continuing operations	$	.86	$	(.32	)	$	.54	$	.71
Income from discontinued operations		-		-			-		.15
Basic and diluted income per share	$	.86	$	(.32	)	$	.54	$	.86

We recognized the following amounts during 2019:

•

a pre-tax charge of $19.3 million related to a litigation settlement expense primarily recognized in the second quarter (see Note 18);

•

pre-tax income from tax increment infrastructure reimbursement of $8.8 million primarily recognized in the second quarter (see Note 7);

•

pre-tax insurance recoveries of $7.7 million primarily related to a single insurance recovery settlement recognized in the second quarter (see Note 13);

•

a pre-tax gain on sale of land of $4.4 million in the third quarter (see Note 13); and

•

a pre-tax gain of $3.0 million related to NL’s sale of its insurance and risk management business recognized in the fourth quarter (see Note 13).

We recognized the following amounts during 2020:

•

pre-tax income from tax increment infrastructure reimbursement of $19.1 million recognized in the first quarter (see Note 7);

•

a pre-tax gain of $4.0 million recognized in the third quarter for proceeds received related to a prior land sale (see Note 13); and

•

a pre-tax gain of $4.9 million for the settlement of an earn-out provision related to the sale of our Waste Management Segment recognized in the fourth quarter (see Note 3).

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.

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020 USD ($) a	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage owned manufacturing joint venture under equity method investment	50.00%
Capitalized interest costs on property and equipment	$ 800,000	$ 800,000	$ 1,100,000
Percentage of likelihood for recognition of uncertain tax positions	50.00%
Recognition of receivables for recoveries	$ 0	0
Standard payment terms	less than one year
Shipping and handling costs	$ 1,437,600,000	1,462,900,000	1,210,900,000
Advertising costs	1,000,000	2,000,000	1,000,000
Research, development and certain sales technical support costs	16,000,000	17,000,000	16,000,000
Chemicals
Basis Of Presentation And Significant Accounting Policies [Line Items]
Shipping and handling costs	1,291,000,000.0	1,346,800,000	1,101,700,000
Shipping and Handling \| Chemicals
Basis Of Presentation And Significant Accounting Policies [Line Items]
Shipping and handling costs	$ 112,000,000	111,000,000	105,000,000
Residential/Planned Community
Basis Of Presentation And Significant Accounting Policies [Line Items]
Area of real estate property \| a	2,100
Commercial and Light Industrial Use
Basis Of Presentation And Significant Accounting Policies [Line Items]
Area of real estate property \| a	400
Residential Housing Unit
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of sales price	3.50%
Contran
Basis Of Presentation And Significant Accounting Policies [Line Items]
Net cash payments received from/paid to tax group parent	$ 6,300,000	$ 7,400,000	$ (5,800,000)
Contran \| Valhi Incorporation
Basis Of Presentation And Significant Accounting Policies [Line Items]
Parent company ownership interest	92.00%

Summary of Significant Accounting Policies - Computation of Depreciation of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2020
Buildings and improvements \| Minimum
Property Plant And Equipment [Line Items]
Property and equipment useful life	10 years
Buildings and improvements \| Maximum
Property Plant And Equipment [Line Items]
Property and equipment useful life	40 years
Machinery and equipment \| Minimum
Property Plant And Equipment [Line Items]
Property and equipment useful life	3 years
Machinery and equipment \| Maximum
Property Plant And Equipment [Line Items]
Property and equipment useful life	20 years
Mine development costs
Property Plant And Equipment [Line Items]
Property and equipment useful life	Units-of-production

Summary of Significant Accounting Policies - Additional Information (Detail 1)	Dec. 31, 2020
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue recognition period	1 year

Business and Geographic Segments - Holding Percentage of Subsidiaries (Detail)	Dec. 31, 2020
Chemicals \| Kronos Worldwide, Inc.
Segment Reporting Information [Line Items]
Controlling interest in subsidiary	80.00%
Component Products \| CompX
Segment Reporting Information [Line Items]
Parent company ownership interest	86.00%
Real Estate Management And Development \| BMI
Segment Reporting Information [Line Items]
Parent company ownership interest	63.00%
Real Estate Management And Development \| LandWell \| Aggregate General And Limited Interests
Segment Reporting Information [Line Items]
Controlling interest in subsidiary	77.00%

Business and Geographic Segments - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) Segment	Dec. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| Segment	3
Non-U.S. subsidiaries
Segment Reporting Information [Line Items]
Net assets of non-U.S. subsidiaries \| $	$ 565	$ 563
Kronos Worldwide, Inc. \| Valhi Incorporation
Segment Reporting Information [Line Items]
Direct ownership percentage by parent	50.00%
Kronos Worldwide, Inc. \| NL
Segment Reporting Information [Line Items]
Indirect controlling interest in subsidiary	30.00%
NL \| Valhi Incorporation
Segment Reporting Information [Line Items]
Direct ownership percentage by parent	83.00%
LandWell \| Valhi Incorporation
Segment Reporting Information [Line Items]
Direct ownership percentage by parent	27.00%
LandWell \| BMI
Segment Reporting Information [Line Items]
Indirect controlling interest in subsidiary	50.00%
BMI \| Valhi Incorporation
Segment Reporting Information [Line Items]
Direct ownership percentage by parent	63.00%

Business and Geographic Segments - Segment Operating Performance (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 516.8	$ 458.6	$ 415.0	$ 459.3	$ 414.1	$ 475.2	$ 528.6	$ 479.6	$ 1,849.7	$ 1,897.5	$ 1,820.1
Cost of sales									1,437.6	1,462.9	1,210.9
Gross margin	118.7	89.7	104.0	99.7	91.2	98.4	123.2	121.8	412.1	434.6	609.2
Operating income	$ 46.9	$ 28.9	$ 39.3	$ 71.0	25.0	$ 41.4	65.9	$ 60.4	186.1	192.7	370.7
Securities earnings									4.7	11.2	38.5
Insurance recoveries							7.7		1.6	7.7	1.3
Gain on land sales									0.5	4.4	12.5
Gain on sale of business					$ 3.0				4.9	3.0	58.4
Other components of net periodic pension and OPEB expense									(20.1)	(16.5)	(14.5)
Litigation settlement expense, net							$ (19.3)			(19.3)	(62.0)
Changes in market value of Valhi common stock held by subsidiaries									(1.7)	(0.2)	(12.2)
General expenses, net									(34.3)	(37.5)	(42.4)
Interest expense									(36.2)	(40.8)	(55.7)
Income from continuing operations before income taxes									100.6	104.7	236.2
Depreciation and amortization									68.5	56.8	58.4
Capital expenditures									65.5	59.9	61.4
Chemicals
Segment Reporting Information [Line Items]
Net sales									1,638.8	1,731.2	1,661.9
Cost of sales									1,291.0	1,346.8	1,101.7
Gross margin									347.8	384.4	560.2
Operating income									126.5	160.1	342.9
Chemicals \| Operating Segment
Segment Reporting Information [Line Items]
Depreciation and amortization									61.9	50.2	52.0
Capital expenditures									62.8	55.1	56.3
Component Products
Segment Reporting Information [Line Items]
Net sales									114.5	124.2	118.2
Cost of sales									81.7	85.3	79.9
Gross margin									32.8	38.9	38.3
Operating income									11.8	17.8	17.8
Component Products \| Operating Segment
Segment Reporting Information [Line Items]
Depreciation and amortization									3.8	3.7	3.5
Capital expenditures									1.7	3.2	3.1
Real Estate Management And Development
Segment Reporting Information [Line Items]
Net sales									96.4	42.1	40.0
Cost of sales									64.9	30.8	29.3
Gross margin									31.5	11.3	10.7
Operating income									47.8	14.8	10.0
Real Estate Management And Development \| Operating Segment
Segment Reporting Information [Line Items]
Depreciation and amortization									2.8	2.9	2.9
Capital expenditures									$ 1.0	$ 1.6	1.9
Waste Management \| Operating Segment
Segment Reporting Information [Line Items]
Capital expenditures											$ 0.1

Business and Geographic Segments - Total Assets Held by Business Segments (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total assets	$ 2,889.3	$ 2,794.4	$ 2,709.6
Corporate and eliminations
Segment Reporting Information [Line Items]
Total assets	179.3	138.5	104.1
Chemicals \| Operating Segment
Segment Reporting Information [Line Items]
Total assets	2,400.7	2,331.8	2,266.6
Component Products \| Operating Segment
Segment Reporting Information [Line Items]
Total assets	138.0	132.5	120.4
Real Estate Management And Development \| Operating Segment
Segment Reporting Information [Line Items]
Total assets	$ 171.3	$ 191.6	$ 218.5

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Business and Geographic Segments - Net Sales by Point of Origin and Point of Destination (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 516.8	$ 458.6	$ 415.0	$ 459.3	$ 414.1	$ 475.2	$ 528.6	$ 479.6	$ 1,849.7	$ 1,897.5	$ 1,820.1
Point of Origin
Segment Reporting Information [Line Items]
Net sales									1,849.7	1,897.5	1,820.1
Point of Destination
Segment Reporting Information [Line Items]
Net sales									1,849.7	1,897.5	1,820.1
United States \| Point of Origin
Segment Reporting Information [Line Items]
Net sales									1,189.8	1,164.8	997.6
Germany \| Point of Origin
Segment Reporting Information [Line Items]
Net sales									836.0	883.6	886.1
Canada \| Point of Origin
Segment Reporting Information [Line Items]
Net sales									319.5	328.7	307.2
Belgium \| Point of Origin
Segment Reporting Information [Line Items]
Net sales									249.5	270.7	272.2
Norway \| Point of Origin
Segment Reporting Information [Line Items]
Net sales									211.8	192.2	209.6
North America \| Point of Destination
Segment Reporting Information [Line Items]
Net sales									778.2	740.1	698.7
Europe \| Point of Destination
Segment Reporting Information [Line Items]
Net sales									783.8	824.2	817.6
Asia and other \| Point of Destination
Segment Reporting Information [Line Items]
Net sales									287.7	333.2	303.8
Geography Eliminations \| Point of Origin
Segment Reporting Information [Line Items]
Net sales									$ (956.9)	$ (942.5)	$ (852.6)

Business and Geographic Segments - Net Property and Equipment by Segment (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net property and equipment:
Net property and equipment	$ 590.4	$ 563.0	$ 563.5
United States
Net property and equipment:
Net property and equipment	67.8	72.0	74.5
Germany
Net property and equipment:
Net property and equipment	237.5	233.6	245.8
Canada
Net property and equipment:
Net property and equipment	88.6	73.1	66.1
Norway
Net property and equipment:
Net property and equipment	88.1	87.9	81.0
Belgium
Net property and equipment:
Net property and equipment	$ 108.4	$ 96.4	$ 96.1

Business Combinations, Dispositions and Related Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2020	Mar. 31, 2018	Jun. 30, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Waste Management
Business Combinations Discontinued Operations And Related Transactions [Line Items]
Pre-tax gain from disposal of discontinued operations	$ 4.9					$ 58.4
Impairment of long lived assets held for use			$ 170.6
Gain from disposal of discontinued operations, net of tax						$ 34.7
Waste Management \| Discontinued Operations
Business Combinations Discontinued Operations And Related Transactions [Line Items]
Pre-tax gain from disposal of discontinued operations	4.9	$ 58.0
Gain from disposal of discontinued operations, net of tax	$ 4.3	$ 34.7
Gain on disposal of discontinued operations, per diluted share, net of tax	$ 0.15	$ 1.22
Kronos Worldwide, Inc.
Business Combinations Discontinued Operations And Related Transactions [Line Items]
Repurchase of common stock							2,000,000.0
Repurchased shares				122,489	264,992	0
Shares available for purchase	1,560,000			1,560,000
Stock repurchase, aggregate purchase price				$ 1.0	$ 3.0
CompX \| Class A
Business Combinations Discontinued Operations And Related Transactions [Line Items]
Repurchased shares				0	0	0
Shares available for purchase	678,000			678,000

Business Combinations, Dispositions and Related Transactions - Schedule of Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2018
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total	$ 4.3	$ 4.3	$ 34.1
Waste Management
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net sales:			4.6
Operating loss			(0.4)
Interest expense, net			(0.3)
Loss before taxes			(0.7)
Income tax benefit			(0.1)
Net loss			(0.6)
Pre-tax gain on disposal	$ 4.9		58.4
Income tax expense			23.7
After-tax gain on disposal			34.7
Total			34.1
Net cash provided by operating activities			2.3
Net cash used in investing activities			$ (0.1)

Accounts and Other Receivables, Net - Components of Accounts and Other Receivables (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Trade accounts receivable:
VAT and other receivables	$ 27.2	$ 31.2
Allowance for doubtful accounts	(1.9)	(1.2)
Total	332.1	314.0
Trade Accounts Receivable \| Kronos Worldwide, Inc.
Trade accounts receivable:
Accounts receivable	294.8	270.5
Trade Accounts Receivable \| CompX
Trade accounts receivable:
Accounts receivable	10.8	11.9
Trade Accounts Receivable \| BMI and LandWell
Trade accounts receivable:
Accounts receivable	$ 1.2	$ 1.6

Inventories, Net - Inventories, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory [Line Items]
Raw materials	$ 136.4	$ 127.3
Work in process	48.5	50.8
Finished products	273.5	274.3
Supplies (chemicals)	79.8	69.7
Total	538.2	522.1
Chemicals
Inventory [Line Items]
Raw materials	133.2	124.4
Work in process	36.8	39.0
Finished products	270.0	270.7
Component Products
Inventory [Line Items]
Raw materials	3.2	2.9
Work in process	11.7	11.8
Finished products	$ 3.5	$ 3.6

Marketable Securities - Schedule of Marketable Securities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Market value, available for sale securities, current	$ 2.1		$ 4.4
Market value, available for sale securities, noncurrent	6.2		2.9
Non Current Assets
Schedule Of Available For Sale Securities [Line Items]
Market value, available for sale securities, noncurrent	6.2		2.9
Cost basis	6.2		2.9
Unrealized gains (losses), net	0.0	$ 0.0
Current Assets
Schedule Of Available For Sale Securities [Line Items]
Cost basis	2.1		$ 4.4
Unrealized gains (losses), net	$ 0.0	$ 0.0

Marketable Securities - Schedule of Marketable Securities and Fair Value Measurements (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, current	$ 4.4	$ 2.1
Marketable securities, noncurrent	2.9	6.2
Fixed Income Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent	2.7	4.9
Common Stocks and Exchange Traded Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent		1.3
Common stock
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent	0.2
Quoted Prices in Active Markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent	0.2	1.3
Quoted Prices in Active Markets (Level 1) \| Common Stocks and Exchange Traded Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent		1.3
Quoted Prices in Active Markets (Level 1) \| Common stock
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent	0.2
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, current	4.4	2.1
Marketable securities, noncurrent	2.7	4.9
Significant Other Observable Inputs (Level 2) \| Fixed Income Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent	$ 2.7	$ 4.9

Marketable Securities - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	May 30, 2018	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Available For Sale Securities [Line Items]
Marketable securities			$ 2.9	$ 6.2
Securities transaction gain recognized			(0.1)	$ 0.3	$ 12.4
Sale of investment in Amalgamated Sugar Company LLC					250.0
Deemed repayment of snake river sugar company indebtedness					250.0
Amalgamated Sugar Company LLC
Schedule Of Available For Sale Securities [Line Items]
Net of assets transferred to the LLC					34.0
Marketable securities					250.0
Cost of the investment in LLC					$ 250.0
Percentage of share from profit of LLC					95.00%
Amalgamated Sugar Company LLC \| Base Level
Schedule Of Available For Sale Securities [Line Items]
Distributions from LLC - aggregate annual base level					$ 26.7
Snake River
Schedule Of Available For Sale Securities [Line Items]
Loan issued by Snake River					250.0
Securities transaction gain recognized	$ 12.5	$ 12.5			$ 12.5
Sale of investment in Amalgamated Sugar Company LLC	$ 250.0
Deemed repayment of snake river sugar company indebtedness		$ 250.0
Snake River \| Amalgamated Sugar Company LLC
Schedule Of Available For Sale Securities [Line Items]
Minimum amount annual distributions received from Amalgamated Sugar LLC will exceed Snake River loan interest payments			$ 1.8

Investment in TiO2 Manufacturing Joint Venture and Other Assets - Other Noncurrent Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other assets:
Land held for development	$ 96.0	$ 125.3
Operating lease right-of-use assets	26.1	29.0
Restricted cash and cash equivalents	37.8	33.0
IBNR receivables	37.1	8.5
Note receivables - OPA	25.3	8.8
Other	8.7	11.9
Total	$ 231.0	$ 216.5

Investment in TiO2 Manufacturing Joint Venture and Other Assets - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Assets Non Current [Line Items]
Percentage owned manufacturing joint venture under equity method investment			50.00%
Operating lease expense			$ 7,600,000	$ 8,200,000	$ 15,000,000
Operating lease, right-of-use asset			2,500,000	1,600,000
Operating lease, liability			$ 2,500,000	$ 1,600,000
Weighted average remaining lease term			15 years	14 years
Weighted average discount rate associated with leases			4.80%	4.60%
Operating lease liability			$ 25,500,000
Operating lease not yet commenced, description			At December 31, 2020, we have no significant lease commitments that have not yet commenced.
Infrastructure reimbursement	$ 19,100,000	$ 8,800,000	$ 19,700,000	$ 9,200,000	4,300,000
City Of Henderson
Other Assets Non Current [Line Items]
Infrastructure reimbursement			$ 19,100,000	$ 8,800,000	$ 3,100,000
Annual interest rate				6.00%
City Of Henderson \| Notes Payable
Other Assets Non Current [Line Items]
Debt instrument expiry year				2036
OPA \| City of Henderson Redevelopment Agency
Other Assets Non Current [Line Items]
Tax increment reimbursement percentage			75.00%
OPA \| Maximum \| City of Henderson Redevelopment Agency
Other Assets Non Current [Line Items]
Reimbursement revenue			$ 209,000,000
Chemicals \| Leverkusen TiO2 production facility
Other Assets Non Current [Line Items]
Operating lease liability			$ 7,600,000
LPC
Other Assets Non Current [Line Items]
Percentage owned manufacturing joint venture under equity method investment			50.00%
LPC \| Chemicals
Other Assets Non Current [Line Items]
Percentage owned manufacturing joint venture under equity method investment			50.00%
Venator Materials PLC \| Tioxide Group
Other Assets Non Current [Line Items]
Parent company ownership interest			100.00%

Investment in TiO2 Manufacturing Joint Venture and Other Assets - Components of Net Distributions from LPC (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Investment Holdings [Line Items]
Net distributions (contributions)	$ (12.8)	$ (9.3)	$ 4.0
LPC
Summary Of Investment Holdings [Line Items]
Distributions from LPC	32.7	40.6	34.3
Contributions to LPC	(45.5)	(49.9)	(30.3)
Net distributions (contributions)	$ (12.8)	$ (9.3)	$ 4.0

Investment in TiO2 Manufacturing Joint Venture and Other Assets - Summary of Financial Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial Information [Line Items]
Current assets	$ 1,453.4	$ 1,425.4
Property and equipment, net	590.4	563.0	$ 563.5
Total assets	2,889.3	2,794.4	2,709.6
Other liabilities, primarily current	39.4	40.0
Total liabilities and equity	2,889.3	2,794.4
Net sales	1,878.1	1,938.4	1,889.3
Cost of sales	1,437.6	1,462.9	1,210.9
General and administrative	283.6	294.2	310.0
Total costs and expenses	1,777.5	1,833.7	1,653.1
Net income	89.0	78.2	301.0
LPC
Financial Information [Line Items]
Current assets	105.8	94.6
Property and equipment, net	134.1	121.3
Total assets	239.9	215.9
Other liabilities, primarily current	30.6	32.8
Partners' equity	209.3	183.1
Total liabilities and equity	239.9	215.9
Net sales	336.1	353.2	332.9
Cost of sales	335.7	352.8	332.5
General and administrative	0.4	0.4	0.4
Total costs and expenses	336.1	353.2	332.9
Net income	0.0	0.0	0.0
LPC \| Kronos Worldwide, Inc.
Financial Information [Line Items]
Net sales	167.8	176.2	165.9
LPC \| Venator Investments LLC
Financial Information [Line Items]
Net sales	$ 168.3	$ 177.0	$ 167.0

Investment in TiO2 Manufacturing Joint Venture and Other Assets - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Gross amounts due each year:
2021	$ 7.4
2022	4.1
2023	2.7
2024	1.8
2025	1.3
2026 and thereafter	20.1
Total remaining lease payments	37.4
Less imputed interest	11.9
Total lease obligations	$ 25.5
Operating Lease, Liability, Statement of Financial Position [Extensible List]	vhi:AccruedAndOtherLiabilitiesMember
Less current obligations	$ 6.7	$ 6.2
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent
Long term lease obligations	$ 18.8	$ 22.2
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Goodwill - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 379.7	$ 379.7	$ 379.7
Chemicals
Goodwill [Line Items]
Goodwill	352.6	352.6	352.6
Component Products
Goodwill [Line Items]
Goodwill	$ 27.1	$ 27.1	$ 27.1

Goodwill - Additional Information (Detail) - USD ($)	12 Months Ended
Goodwill - Additional Information (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Aggregate goodwill impairment	$ 0	$ 0	$ 0
Consolidated gross goodwill	$ 396,200,000
Component Products
Goodwill [Line Items]
Aggregate goodwill impairment				$ 16,500,000

Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Long-term debt
Total debt	$ 788.6	$ 794.3
Less current maturities	(2.4)	(4.9)
Total long-term debt	786.2	789.4
VALHI, INC. \| Contran Credit Facility
Long-term debt
Total debt	270.7	313.0
Kronos Worldwide, Inc. \| 3.75% Senior Secured Notes due September 15, 2025 \| Kronos International, Inc
Long-term debt
Total debt	485.7	442.6
Tremont \| Promissory Note
Long-term debt
Total debt		2.0
BMI \| Bank loan \| Western Alliance Bank
Long-term debt
Total debt	16.3	17.2
LandWell \| Unsecured Debt
Long-term debt
Total debt		1.6
LandWell \| Unsecured Debt \| Western Alliance Bank
Long-term debt
Total debt	14.2	15.0
Other Subsidiary \| Other
Long-term debt
Total debt	1.7	2.9
Subsidiary
Long-term debt
Total debt	$ 517.9	$ 481.3

Long-Term Debt - Valhi Contran Credit Facility - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Borrowings of credit facility	$ 0
Repaid credit facility	42,300,000
VALHI, INC. \| Contran Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 320,000,000
Debt instrument, Interest rate at period end	4.25%
Debt due date, start date	Dec. 31, 2022
Amount available for borrowing	$ 49,300,000
Debt instrument basis spread on variable rate	1.00%
Debt instrument, Interest rate during period	4.50%

Long-Term Debt - Kronos Term Loans - Additional Information (Detail) - Kronos Worldwide, Inc. - Kronos International, Inc - 3.75% Senior Secured Notes due September 15, 2025		12 Months Ended
	Sep. 13, 2017 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 13, 2017 EUR (€)
Debt Instrument [Line Items]
Debt instrument principal amount	$ 477,600,000			€ 400,000,000
Debt instrument maturity date	Sep. 15, 2025
Debt instrument interest rate	3.75%			3.75%
Debt instrument, interest payment terms		bear interest at 3.75% per annum,
Debt instrument, frequency of periodic payment of interest		semi-annually
Debt Instrument, date of first required semi-annual payment	Mar. 15, 2018
Debt instrument redemption price percent if experiences certain specified change of control events	101.00%
Debt instrument, redemption, description		have a maturity date of September 15, 2025. Prior to September 15, 2020, Kronos had an option to redeem some or all of the Senior Notes at a price equal to 100% of the principal amount thereof, plus a “make-whole” premium (as defined in the indenture governing the Senior Notes). On or after September 15, 2020, Kronos may redeem the Senior Notes at redemption prices ranging from 102.813% of the principal amount, declining to 100% on or after September 15, 2023. In addition, on or before September 15, 2020, Kronos had an option to redeem up to 40% of the Senior Notes with the net proceeds of certain public or private equity offerings at 103.75% of the principal amount but Kronos did not elect this option. If Kronos experiences certain specified change of control events, it would be required to make an offer to purchase the Senior Notes at 101% of the principal amount. Kronos would also be required to make an offer to purchase a specified portion of the Senior Notes at par value in the event that it generates a certain amount of net proceeds from the sale of assets outside the ordinary course of business, and such net proceeds are not otherwise used for specified purposes within a specified time period
Maximum amount of other indebtedness default before triggering customary default provisions	$ 50,000,000.0
Unamortized debt issuance costs		$ 4,700,000	$ 5,300,000
Collateral Pledged \| Direct Domestic Subsidiary of KII and Guarantors
Debt Instrument [Line Items]
Parent company ownership interest	100.00%			100.00%
Collateral Pledged \| Foreign Subsidiary Directly Owned by KII or any Guarantor
Debt Instrument [Line Items]
Parent company ownership interest	65.00%			65.00%
Non-voting Common Stock \| Collateral Pledged \| Foreign Subsidiary Directly Owned by KII or any Guarantor
Debt Instrument [Line Items]
Parent company ownership interest	100.00%			100.00%
Prior to September 15, 2020
Debt Instrument [Line Items]
Debt instrument, redemption price percentage	100.00%
On or After September 15, 2020
Debt Instrument [Line Items]
Debt instrument, redemption price percentage	102.813%
On or After September 15, 2023
Debt Instrument [Line Items]
Debt instrument, redemption price percentage	100.00%
On or Before September 15, 2020
Debt Instrument [Line Items]
Debt instrument, redemption price percentage	103.75%
On or Before September 15, 2020 \| Maximum
Debt Instrument [Line Items]
Debt instrument, percentage of debt that may be redeemed	40.00%

Long-Term Debt - Revolving Credit Facility - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2017 USD ($)
Line Of Credit Facility [Line Items]
Revolving credit facility, borrowings	$ 0
Kronos Worldwide, Inc. \| Revolving North American Credit Facility
Line Of Credit Facility [Line Items]
Line of credit maximum borrowing capacity	$ 125,000,000
Fixed charge coverage ratio, minimum value	100.00%
Revolving credit facility, borrowings	$ 0	$ 0
Repayment of credit facility	$ 0	0
Kronos Worldwide, Inc. \| Revolving North American Credit Facility \| Maturity Date Option 1
Line Of Credit Facility [Line Items]
Line of credit, maturity month and year	2022-01
Kronos Worldwide, Inc. \| Revolving North American Credit Facility \| Minimum \| Variable Rate
Line Of Credit Facility [Line Items]
Interest rate on outstanding borrowings	1.50%
Kronos Worldwide, Inc. \| Revolving North American Credit Facility \| Minimum \| Base Rate Option
Line Of Credit Facility [Line Items]
Interest rate on outstanding borrowings	0.50%
Kronos Worldwide, Inc. \| Revolving North American Credit Facility \| Maximum \| Variable Rate
Line Of Credit Facility [Line Items]
Interest rate on outstanding borrowings	2.00%
Kronos Worldwide, Inc. \| Revolving North American Credit Facility \| Maximum \| Base Rate Option
Line Of Credit Facility [Line Items]
Interest rate on outstanding borrowings	1.00%
Kronos Worldwide, Inc. \| North American Revolving Credit Facility
Line Of Credit Facility [Line Items]
Amount available for borrowing		107,600,000
Kronos Worldwide, Inc. \| Letter Of Credit \| Revolving North American Credit Facility
Line Of Credit Facility [Line Items]
Line of credit maximum borrowing capacity				$ 15,000,000
Kronos Worldwide, Inc. \| Canadian Subsidiary Revolving Borrowings Maximum \| Revolving North American Credit Facility
Line Of Credit Facility [Line Items]
Line of credit maximum borrowing capacity				$ 25,000,000
Kronos Worldwide, Inc. \| European Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit maximum borrowing capacity \| €			€ 90,000,000
Revolving credit facility, borrowings	$ 0	0
Repayment of credit facility	0	$ 0
Amount available for borrowing	$ 110,300,000		€ 90,000,000
Line of credit maturity month and year	2022-09
Outstanding borrowings under revolving credit facility	$ 0
Kronos Worldwide, Inc. \| European Revolving Credit Facility \| EURIBOR
Line Of Credit Facility [Line Items]
Interest rate on outstanding borrowings	1.60%

Long-Term Debt - Other - Additional Information (Detail) - Promissory Note - Tremont - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal prepayments of note	$ 2.2
Nevada Environmental Response Trust
Debt Instrument [Line Items]
Interest rate		3.00%
Principal prepayments of note		$ 2.0	$ 7.4
Principal amount of promissory note		$ 19.1
Debt instrument maturity month and year		2023-12

Long-Term Debt - Notes Payable to BMI - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Repayment of note payable		$ 58.5	$ 11.2	$ 12.6
BMI \| Bank note payable \| Meadows Bank
Debt Instrument [Line Items]
Repayment of note payable	$ 8.5
BMI \| 2017 Bank Loan \| Bank note payable \| Western Alliance Bank
Debt Instrument [Line Items]
Principal amount of loan agreement	20.5
Frequency of debt instrument payment		semi-annual
Debt instrument, payment terms		The agreement requires semi-annual payments of principal and interest on June 1 and December 1 aggregating $1.9 million annually beginning on June 1, 2017 through the maturity date in June 2032.
Periodic principal and interest payments	$ 1.9
Loans maturity period	2032-06
Interest rate	5.34%
Debt issuance cost		$ 0.6

Long-Term Debt - Notes Payable Landwell - Additional Information (Detail) - LandWell - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Western Alliance Business Trust
Debt Instrument [Line Items]
Interest rate terms	The agreement requires semi-annual payments of principal and interest on April 15 and October 15 aggregating $1.3 million annually beginning on April 15, 2020 through the maturity date in April 2036 and is payable from the tax increment reimbursement funds received under the OPA.
Frequency of debt instrument payment	semi-annual
Long-term promissory note fixed interest rate	4.76%
Principal amount of loan agreement		$ 15,000,000.0
Periodic principal and interest payments	$ 1,300,000
Loans maturity period	2036-04
Note payable to the City of Henderson
Debt Instrument [Line Items]
Debt instrument			$ 3,900,000
Periodic principal payments	$ 250,000
Interest rate terms	The loan bore interest at a 3% fixed rate.
Frequency of debt instrument payment	semi-annual
Long-term promissory note fixed interest rate	3.00%
Payment of notes payable using receipts from specified revenues sources		$ 400,000

Long-Term Debt - Aggregate Maturities of Long-Term Debt (Detail) $ in Millions	Dec. 31, 2020 USD ($)
Disclosure Longterm Debt Aggregate Maturities Of Long Term Debt [Abstract]
2021	$ 2.4
2022	273.2
2023	2.2
2024	1.9
2025	492.5
2026 and thereafter	21.9
Subtotal	794.1
Less amounts representing original issue discount and debt issuance costs	(5.5)
Total long-term debt	$ 788.6

Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts payable:
Accounts payable	$ 117.6	$ 144.7
Current accrued liabilities:
Employee benefits	37.5	30.6
Operating lease liabilities	6.7	6.2
Accrued sales discounts and rebates	30.2	33.7
Deferred income	20.1	10.3
Environmental remediation and related costs	3.4	4.5	$ 6.5
Interest	5.7	5.2
Other	39.4	40.0
Total	143.0	130.5
Noncurrent accrued liabilities:
Other postretirement benefits	10.8	10.5
Operating lease liabilities	18.8	22.2
Reserve for uncertain tax positions	6.8	13.6
Deferred income	58.9	47.4
Employee benefits	6.2	6.0
Insurance claims and expenses	39.3	11.0
Deferred payment obligation	1.3	9.9
Accrued development costs	24.6	8.3
Other	7.8	8.2
Total	174.5	137.1
Kronos Worldwide, Inc.
Accounts payable:
Accounts payable	111.0	137.2
CompX
Accounts payable:
Accounts payable	2.6	2.5
BMI/LandWell
Accounts payable:
Accounts payable	3.6	3.7
NL
Accounts payable:
Accounts payable		0.9
Other
Accounts payable:
Accounts payable	$ 0.4	$ 0.4

Accounts Payable and Accrued Liabilities - Additional Information (Detail) - Basic Management Inc And LandWell $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2014	Dec. 31, 2013 USD ($)
Accounts Payable And Accrued Liabilities [Line Items]
Early repayment of obligation	$ 9.6
Recognized accretion expense	$ 0.8
Forecast
Accounts Payable And Accrued Liabilities [Line Items]
Debt instrument principal amount		$ 1.5
Deferred Payment \| Present Value \| Measurement Input, Discount Rate
Accounts Payable And Accrued Liabilities [Line Items]
Discount rate			0.03
Real Estate Management And Development \| Deferred Payment \| Face Value
Accounts Payable And Accrued Liabilities [Line Items]
Business combination consideration transferred, deferred payment obligation				$ 11.1
Interest rate				3.00%

Defined Contribution and Defined Benefit Retirement - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan expense	$ 6.6	$ 6.5	$ 6.6
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit fair value of plan assets	548.2	498.4
Expected contribution	18.0
Expect to recognize unrecognized actuarial gains (losses)	21.0
Expect to recognize prior service credit\cost	0.2
Defined Benefit Pension Plans \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit fair value of plan assets	314.8	283.5	259.6
Defined Benefit Pension Plans \| Non U.S.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan benefit obligation	855.8	746.4	667.2
Defined benefit fair value of plan assets	494.8	450.0	$ 410.7
Net underfunded status	$ 361.0	$ 296.4
Discount rate	1.00%	1.40%
Long-term return on plan assets	2.00%	2.90%	3.00%
Defined Benefit Pension Plans \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan benefit obligation	$ 12.2
Defined benefit fair value of plan assets	17.3
Defined benefit pension plan assets	$ 5.2
Defined Benefit Pension Plans \| Canada \| Equity Securities \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan asset allocation	20.00%
Defined Benefit Pension Plans \| Canada \| Equity Securities \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan asset allocation	30.00%
Defined Benefit Pension Plans \| Canada \| Fixed Income Funds \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan asset allocation	70.00%
Defined Benefit Pension Plans \| Canada \| Fixed Income Funds \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan asset allocation	80.00%
Defined Benefit Pension Plans \| Norway \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan asset allocation		14.00%
Defined Benefit Pension Plans \| Norway \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	5.00%
Percentage of plan asset allocation	15.00%
Defined Benefit Pension Plans \| Norway \| Fixed Income Funds
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	3.00%
Percentage of plan asset allocation	62.00%
Defined Benefit Pension Plans \| Norway \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit fair value of plan assets	$ 7.1	$ 6.6
Long-term return on plan assets	4.00%
Percentage of plan asset allocation	14.00%
Defined Benefit Pension Plans \| Norway \| Real Estate \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit fair value of plan assets	$ 7.1	6.6
Defined Benefit Pension Plans \| Norway \| Other Investments And Liquid Funds
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	7.00%
Defined Benefit Pension Plans \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan benefit obligation	$ 63.2	60.6	$ 57.6
Defined benefit fair value of plan assets	53.3	48.4	$ 43.2
Net underfunded status	$ 9.9	$ 12.2
Discount rate	2.20%	3.10%
Long-term return on plan assets	4.50%	5.50%	7.50%
Defined Benefit Pension Plans \| U.S. \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan asset allocation	34.00%
Defined Benefit Pension Plans \| U.S. \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	9.00%
Percentage of plan asset allocation	38.00%
Defined Benefit Pension Plans \| U.S. \| Fixed Income Funds
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	3.00%
Percentage of plan asset allocation	54.00%
Defined Benefit Pension Plans \| U.S. \| CMRT
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	2.00%

Defined Contribution and Defined Benefit Retirement - Schedule of Defined Benefit Plan Expected Future Payments (Detail) - Defined Benefit Pension Plans $ in Millions	Dec. 31, 2020 USD ($)
Pension Plans Postretirement And Other Employee Benefits [Line Items]
2021	$ 27.5
2022	28.9
2023	28.7
2024	30.6
2025	30.6
Next 5 years	$ 177.6

Defined Contribution and Defined Benefit Retirement - Schedule of Funded Status (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amounts recognized in the Consolidated Balance Sheets:
Pension asset	$ 8.4	$ 7.4
Noncurrent	(379.0)	(315.6)
Defined Benefit Pension Plans
Change in plan assets:
Fair value at beginning of the year	498.4
Fair value at end of the year	548.2	498.4
Defined Benefit Pension Plans \| U.S.
Change in benefit obligation:
Balance at beginning of the year	60.6	57.6
Interest cost	1.9	2.3	$ 2.2
Actuarial losses	5.0	4.9
Benefits paid	(4.3)	(4.2)
Balance at end of the year	63.2	60.6	57.6
Change in plan assets:
Fair value at beginning of the year	48.4	43.2
Actual return on plan assets	6.8	5.5
Employer contributions	2.4	3.9
Benefits paid	(4.3)	(4.2)
Fair value at end of the year	53.3	48.4	43.2
Funded status	(9.9)	(12.2)
Amounts recognized in the Consolidated Balance Sheets:
Current	(0.2)	(0.3)
Noncurrent	(9.7)	(11.9)
Total recognized in balance sheet	(9.9)	(12.2)
Accumulated other comprehensive (income) loss:
Accumulated other comprehensive loss Actuarial loss	36.7	38.5
Total amount recognized in balance sheet and AOCI	26.8	26.3
Accumulated benefit obligations ("ABO")	$ 63.2	$ 60.6
Defined Benefit Plan, Funding Status [Extensible List]	us-gaap:FundedPlanMember	us-gaap:FundedPlanMember
Defined Benefit Pension Plans \| Non U.S.
Change in benefit obligation:
Balance at beginning of the year	$ 746.4	$ 667.2
Service cost	13.3	12.8	11.6
Interest cost	10.1	13.5	13.8
Participants' contributions	1.9	1.6
Actuarial losses	47.5	82.0
Plan settlement		(1.0)
Change in currency exchange rates	58.8	(6.6)
Benefits paid	(22.2)	(23.1)
Balance at end of the year	855.8	746.4	667.2
Change in plan assets:
Fair value at beginning of the year	450.0	410.7
Actual return on plan assets	19.2	47.0
Employer contributions	16.0	15.5
Participants' contributions	1.9	1.6
Change in currency exchange rates	29.9	(1.7)
Benefits paid	(22.2)	(23.1)
Fair value at end of the year	494.8	450.0	$ 410.7
Funded status	(361.0)	(296.4)
Amounts recognized in the Consolidated Balance Sheets:
Pension asset	8.4	7.4
Noncurrent	(369.4)	(303.8)
Total recognized in balance sheet	(361.0)	(296.4)
Accumulated other comprehensive (income) loss:
Accumulated other comprehensive loss Actuarial loss	307.0	286.8
Accumulated other comprehensive (income) loss - Prior service credit	0.7	1.0
Accumulated other comprehensive loss, Total	307.7	287.8
Total amount recognized in balance sheet and AOCI	(53.3)	(8.6)
Accumulated benefit obligations ("ABO")	$ 838.2	$ 720.3
Defined Benefit Plan, Funding Status [Extensible List]	us-gaap:FundedPlanMember	us-gaap:FundedPlanMember

Defined Contribution and Defined Benefit Retirement - Components of Net Periodic Defined Benefit Pension Benefit Cost (Credit) (Detail) - Defined Benefit Pension Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S.
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 1.9	$ 2.3	$ 2.2
Expected return on plan assets	(2.1)	(2.3)	(3.4)
Amortization of unrecognized net actuarial loss	2.1	2.2	2.0
Total	1.9	2.2	0.8
Non U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	13.3	12.8	11.6
Interest cost	10.1	13.5	13.8
Expected return on plan assets	(9.0)	(11.9)	(12.7)
Amortization of unrecognized prior service credit	0.2	0.2	0.2
Amortization of unrecognized net actuarial loss	17.3	12.8	13.2
Total	$ 31.9	$ 27.4	$ 26.1

Defined Contribution and Defined Benefit Retirement - Schedule of Plans for which Accumulated Benefit Obligations Exceeds Plan Assets (Detail) - Defined Benefit Pension Plans - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
U.S.
Plans for which the ABO exceeds plan assets:
Projected benefit obligations	$ 63.2	$ 60.6
Accumulated benefit obligations	63.2	60.6
Fair value of plan assets	53.3	48.4
Non U.S.
Plans for which the ABO exceeds plan assets:
Projected benefit obligations	800.2	685.4
Accumulated benefit obligations	777.4	663.3
Fair value of plan assets	$ 430.8	$ 381.7

Defined Contribution and Defined Benefit Retirement - Summary of Actuarial Assumptions Used to Determine Net Periodic Benefit Cost (Credit) (Detail) - Defined Benefit Pension Plans	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S.
Pension Plans Postretirement And Other Employee Benefits [Line Items]
Discount rate	3.10%	4.10%	3.50%
Long-term return on plan assets	4.50%	5.50%	7.50%
Non U.S.
Pension Plans Postretirement And Other Employee Benefits [Line Items]
Discount rate	1.40%	2.10%	2.10%
Increase in future compensation levels	2.60%	2.60%	2.60%
Long-term return on plan assets	2.00%	2.90%	3.00%

Defined Contribution and Defined Benefit Retirement - Summary of Actuarial Assumptions Used to Benefit Obligations (Detail) - Defined Benefit Pension Plans - Non U.S.	Dec. 31, 2020	Dec. 31, 2019
Pension Plans Postretirement And Other Employee Benefits [Line Items]
Discount rate	1.00%	1.40%
Increase in future compensation levels	2.60%	2.60%

Defined Contribution and Defined Benefit Retirement - Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) (Detail) - Defined Benefit Pension Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Plans Postretirement And Other Employee Benefits [Line Items]
Net actuarial gain (loss)	$ (37.7)	$ (47.2)	$ (27.0)
Amortization of unrecognized prior service cost (credit)	0.2	0.2	0.2
Amortization of unrecognized net actuarial loss	19.4	15.0	15.2
Total	$ (18.1)	$ (32.0)	$ (11.6)

Defined Contribution and Defined Benefit Retirement - Composition of Pension Plan Assets (Detail) - Defined Benefit Pension Plans - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 548.2	$ 498.4
Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	204.9	191.6
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	10.1	8.7
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	314.8	283.5	$ 259.6
Assets measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Plan assets	18.4	14.6
Non U.S.
Defined Benefit Plan Disclosure [Line Items]
Plan assets	494.8	450.0	410.7
Germany
Defined Benefit Plan Disclosure [Line Items]
Plan assets	292.5	264.5
Germany \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	292.5	264.5
Canada \| Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0.2	8.3
Canada \| Non Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	26.6	16.3
Canada \| Local Currency Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	87.3	80.9
Canada \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0.9	0.6
Canada \| Quoted Prices in Active Markets (Level 1) \| Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0.2	8.3
Canada \| Quoted Prices in Active Markets (Level 1) \| Non Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	26.6	16.3
Canada \| Quoted Prices in Active Markets (Level 1) \| Local Currency Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	87.3	80.9
Canada \| Quoted Prices in Active Markets (Level 1) \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0.9	0.6
Norway \| Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.2	1.6
Norway \| Non Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	6.3	4.2
Norway \| Local Currency Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	26.4	22.8
Norway \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	5.5	8.2
Norway \| Non Local Currency Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7.7	8.3
Norway \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7.1	6.6
Norway \| Quoted Prices in Active Markets (Level 1) \| Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.2	1.6
Norway \| Quoted Prices in Active Markets (Level 1) \| Non Local Currency Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	6.3	4.2
Norway \| Quoted Prices in Active Markets (Level 1) \| Local Currency Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	16.3	14.1
Norway \| Quoted Prices in Active Markets (Level 1) \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	4.8	7.4
Norway \| Quoted Prices in Active Markets (Level 1) \| Non Local Currency Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7.7	8.3
Norway \| Significant Other Observable Inputs (Level 2) \| Local Currency Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	10.1	8.7
Norway \| Significant Unobservable Inputs (Level 3) \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0.7	0.8
Norway \| Significant Unobservable Inputs (Level 3) \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7.1	6.6
Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	31.1	27.6
Other \| Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	17.3	16.6
Other \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Plan assets	13.8	11.0
U.S.
Defined Benefit Plan Disclosure [Line Items]
Plan assets	53.3	48.4	$ 43.2
U.S. \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	5.7	6.0
U.S. \| Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	20.9	19.2
U.S. \| Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	26.8	23.3
U.S. \| Quoted Prices in Active Markets (Level 1) \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	4.4	4.6
U.S. \| Quoted Prices in Active Markets (Level 1) \| Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.1	5.4
U.S. \| Quoted Prices in Active Markets (Level 1) \| Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets	26.8	23.3
U.S. \| Significant Unobservable Inputs (Level 3) \| Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0.7	0.6
U.S. \| Assets measured at NAV \| Cash and Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets	1.3	1.4
U.S. \| Assets measured at NAV \| Equities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 17.1	$ 13.2

Defined Contribution and Defined Benefit Retirement - Schedule of Rollforward of Change in Fair Value of Level 3 Assets (Detail) - Defined Benefit Pension Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Reconciliation Of Changes In Fair Value Of Assets And Liabilities [Line Items]
Fair value at beginning of the year	$ 498.4
Fair value at end of the year	548.2	$ 498.4
Significant Unobservable Inputs (Level 3)
Schedule Of Reconciliation Of Changes In Fair Value Of Assets And Liabilities [Line Items]
Fair value at beginning of the year	283.5	259.6
Gain on assets held at end of year	4.4	30.2
Loss on assets sold during the year		(1.1)
Assets purchased	14.4	16.0
Assets sold	(14.2)	(14.9)
Currency exchange rate fluctuations	26.7	(6.3)
Fair value at end of the year	$ 314.8	$ 283.5

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Disaggregation of Sales - Schedule of Disaggregates of Net Sales of our Chemicals Segment (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Net sales	$ 516.8	$ 458.6	$ 415.0	$ 459.3	$ 414.1	$ 475.2	$ 528.6	$ 479.6	$ 1,849.7	$ 1,897.5	$ 1,820.1
Point of Origin
Disaggregation Of Revenue [Line Items]
Net sales									1,849.7	1,897.5	1,820.1
Point of Origin \| Germany
Disaggregation Of Revenue [Line Items]
Net sales									836.0	883.6	886.1
Point of Origin \| U.S.
Disaggregation Of Revenue [Line Items]
Net sales									1,189.8	1,164.8	997.6
Point of Origin \| Canada
Disaggregation Of Revenue [Line Items]
Net sales									319.5	328.7	307.2
Point of Origin \| Belgium
Disaggregation Of Revenue [Line Items]
Net sales									249.5	270.7	272.2
Point of Origin \| Norway
Disaggregation Of Revenue [Line Items]
Net sales									211.8	192.2	209.6
Point of Origin \| Eliminations
Disaggregation Of Revenue [Line Items]
Net sales									(956.9)	(942.5)	(852.6)
Point of Destination
Disaggregation Of Revenue [Line Items]
Net sales									1,849.7	1,897.5	1,820.1
Point of Destination \| Europe
Disaggregation Of Revenue [Line Items]
Net sales									783.8	824.2	817.6
Point of Destination \| North America
Disaggregation Of Revenue [Line Items]
Net sales									778.2	740.1	698.7
Chemicals
Disaggregation Of Revenue [Line Items]
Net sales									1,638.8	1,731.2	1,661.9
Chemicals \| Point of Origin
Disaggregation Of Revenue [Line Items]
Net sales									1,638.8	1,731.2	1,661.9
Chemicals \| Point of Origin \| Germany
Disaggregation Of Revenue [Line Items]
Net sales									836.0	883.6	886.1
Chemicals \| Point of Origin \| U.S.
Disaggregation Of Revenue [Line Items]
Net sales									978.8	998.5	839.4
Chemicals \| Point of Origin \| Canada
Disaggregation Of Revenue [Line Items]
Net sales									319.5	328.7	307.2
Chemicals \| Point of Origin \| Belgium
Disaggregation Of Revenue [Line Items]
Net sales									249.5	270.7	272.2
Chemicals \| Point of Origin \| Norway
Disaggregation Of Revenue [Line Items]
Net sales									211.8	192.2	209.6
Chemicals \| Point of Origin \| Eliminations
Disaggregation Of Revenue [Line Items]
Net sales									(956.8)	(942.5)	(852.6)
Chemicals \| Point of Destination
Disaggregation Of Revenue [Line Items]
Net sales									1,638.8	1,731.2	1,661.9
Chemicals \| Point of Destination \| Europe
Disaggregation Of Revenue [Line Items]
Net sales									783.2	823.5	817.2
Chemicals \| Point of Destination \| North America
Disaggregation Of Revenue [Line Items]
Net sales									569.3	575.6	542.0
Chemicals \| Point of Destination \| Other
Disaggregation Of Revenue [Line Items]
Net sales									$ 286.3	$ 332.1	$ 302.7

Disaggregation of Sales - Schedule of Disaggregates of Net Sales of our Component Products and Real Estate Management and Development Segments (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Net sales	$ 516.8	$ 458.6	$ 415.0	$ 459.3	$ 414.1	$ 475.2	$ 528.6	$ 479.6	$ 1,849.7	$ 1,897.5	$ 1,820.1
Component Products
Disaggregation Of Revenue [Line Items]
Net sales									114.5	124.2	118.2
Real Estate Management And Development
Disaggregation Of Revenue [Line Items]
Net sales									96.4	42.1	40.0
Real Estate Management And Development \| Land Sales
Disaggregation Of Revenue [Line Items]
Net sales									87.0	33.5	32.3
Real Estate Management And Development \| Water Delivery
Disaggregation Of Revenue [Line Items]
Net sales									7.6	6.8	5.6
Real Estate Management And Development \| Utility and Other
Disaggregation Of Revenue [Line Items]
Net sales									1.8	1.8	2.1
Security Products \| Component Products
Disaggregation Of Revenue [Line Items]
Net sales									87.9	99.3	98.4
Marine Components \| Component Products
Disaggregation Of Revenue [Line Items]
Net sales									$ 26.6	$ 24.9	$ 19.8

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Other Income, Net - Schedule of Components of Other Income (Detail) - USD ($) $ in Millions	3 Months Ended					12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Securities earnings:
Dividends and interest						$ 4.8	$ 10.9	$ 26.1
Securities transactions, net						(0.1)	0.3	12.4
Total						4.7	11.2	38.5
Gain on land sales	$ 4.0			$ 4.4		4.5	4.4	12.5
Gain on sale of business			$ 3.0			4.9	3.0	58.4
Insurance recoveries					$ 7.7	1.6	7.7	1.3
Currency transactions, net						(4.0)	2.0	10.1
Disposal of property and equipment, net						(0.2)	(0.3)	(0.3)
Infrastructure reimbursement		$ 19.1			$ 8.8	19.7	9.2	4.3
Other, net						2.1	3.7	2.8
Total						$ 28.4	$ 40.9	$ 69.2

Other Income, Net - Additional Information (Detail) $ in Thousands		3 Months Ended							12 Months Ended
	May 30, 2018 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Mar. 31, 2018 USD ($) Parcel	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Disclosure Other Income Net Additional Information Detail [Line Items]
Dividends and interest income									$ 4,800	$ 10,900	$ 26,100
Gain on securities transaction recognized									(100)	300	12,400
Insurance recoveries						$ 7,700			1,600	7,700	1,300
Number of land parcels \| Parcel								2
Net proceeds										4,600	19,500
Pre-tax gain on sale of land		$ 4,000						$ 11,900
Gain on sale of business				$ 3,000					$ 4,900	3,000	58,400
Kronos Worldwide, Inc.
Disclosure Other Income Net Additional Information Detail [Line Items]
Gain on insurance settlement related to property damage claim			$ 1,500	2,600
Tremont
Disclosure Other Income Net Additional Information Detail [Line Items]
Net proceeds								18,900
Tremont \| Promissory Note
Disclosure Other Income Net Additional Information Detail [Line Items]
Principal payment of debt								$ 2,200
Amalgamated Sugar Company LLC
Disclosure Other Income Net Additional Information Detail [Line Items]
Dividends and interest income											16,900
Snake River
Disclosure Other Income Net Additional Information Detail [Line Items]
Gain on securities transaction recognized	$ 12,500						$ 12,500				12,500
NL
Disclosure Other Income Net Additional Information Detail [Line Items]
Insurance recoveries										$ 5,100
Net proceeds					$ 4,600						$ 600
Pre-tax gain on sale of land					$ 4,400
NL \| Insurance and Risk Management Business
Disclosure Other Income Net Additional Information Detail [Line Items]
Proceeds from sale of business				3,250
Gain on sale of business				$ 3,000

Income Taxes - Components of Comprehensive Provision for Income Taxes Allocation (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Income Tax [Line Items]
United States	$ 45.2	$ 23.5	$ (22.5)
Non-U.S. subsidiaries	55.4	81.2	258.7
Income from continuing operations before income taxes	100.6	104.7	236.2
Expected tax expense at U.S. federal statutory income tax rate of 21%	21.1	22.0	49.6
Non-U.S. tax rates	0.5	5.2	20.8
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. tax group companies	(8.7)	(4.5)	(167.8)
Valuation allowance	3.8	4.5
Transition tax			(2.1)
Global intangible low-tax income, net	2.2	1.8	4.0
Tax rate changes	(0.2)	4.7	58.8
U.S. state income taxes, net	0.9	(0.3)	0.6
Adjustment to the reserve for uncertain tax positions, net	(3.8)	(5.1)	4.1
Nondeductible expenses	1.0	1.5	3.0
Refund of prior tax payments, net		(2.1)
Other, net	(0.9)	(1.2)	(0.3)
Income tax expense (benefit)	15.9	26.5	(30.7)
Comprehensive provision for income taxes (benefit) allocable to:
Income tax expense (benefit)	15.9	26.5	(30.7)
Discontinued operations	0.6		23.7
Retained earnings-change in accounting principle			1.1
Other comprehensive income (loss):
Currency translation	1.6	(0.2)	(4.2)
Total	10.4	10.2	(15.2)
Pension Plans
Other comprehensive income (loss):
Defined benefit plans	(7.3)	(15.6)	(4.7)
Other
Other comprehensive income (loss):
Defined benefit plans	$ (0.4)	$ (0.5)	(0.4)
Kronos Worldwide, Inc. \| Canada - Germany APA
Schedule Of Income Tax [Line Items]
APA			$ (1.4)

Income Taxes - Component of Income Taxes Expenses (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Currently payable:
U.S. federal and state	$ 13.3	$ 4.3	$ 34.1
Non-U.S.	14.9	22.0	51.1
Total	28.2	26.3	85.2
Deferred income taxes (benefit):
U.S. federal and state	(10.3)	(4.1)	(145.5)
Non-U.S.	(2.0)	4.3	29.6
Total	(12.3)	0.2	(115.9)
Income tax expense (benefit)	$ 15.9	$ 26.5	$ (30.7)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Components of Comprehensive Provision for Income Taxes Allocation (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%

Income Taxes - Components of Net Deferred Tax Asset (Liability) (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Tax effect of temporary differences related to:
Inventories	$ 1.9	$ 3.7
Lease assets	6.3	5.9
Accrued OPEB costs	3.0	2.8
Accrued pension costs	100.5	80.6
Accrued environmental liabilities	31.0	33.8
Other deductible differences	9.2	8.3
Investments in subsidiaries and affiliates	2.7	2.6
Tax loss and tax credit carryforwards	100.4	91.2
Valuation allowance	(17.5)	(14.2)
Adjusted gross deferred tax assets	237.5	214.7
Netting of items by tax jurisdiction, assets	(117.3)	(108.7)
Net noncurrent deferred tax asset (liability)	120.2	106.0
Tax effect of temporary differences related to:
Property and equipment	(67.2)	(61.8)
Lease liabilities	(6.5)	(6.1)
Other taxable differences	(13.1)	(13.7)
Investments in subsidiaries and affiliates	(48.1)	(54.4)
Tax on unremitted earnings of non-U.S. subsidiaries	(12.0)	(10.8)
Adjusted gross deferred tax liabilities	(146.9)	(146.8)
Netting of items by tax jurisdiction, liabilities	117.3	108.7
Net noncurrent deferred tax asset (liability)	$ (29.6)	$ (38.1)

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended					12 Months Ended
	Mar. 27, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes Disclosure [Line Items]
Income tax examination, description							Tax authorities are examining certain of our U.S. and non-U.S. tax returns and have or may propose tax deficiencies, including penalties and interest. Because of the inherent uncertainties involved in settlement initiatives and court and tax proceedings, we cannot guarantee that these tax matters, if any, will be resolved in our favor, and therefore our potential exposure, if any, is also uncertain.
Income tax expense (benefit)							$ 15.9	$ 26.5	$ (30.7)
Provision for income taxes includes non-cash deferred income tax expense							$ 3.3	4.5	6.8
Business interest income, adjusted taxable income	30.00%						30.00%
Current income taxes expense (benefit)							$ 28.2	26.3	85.2
Deferred income taxes expense (benefit)							(12.3)	0.2	(115.9)
Deferred income tax benefit from change in enacted tax rate							(0.2)	4.7	58.8
Non-cash income tax benefit					$ 1.4
Aggregate provisional non-cash deferred income tax expense									(1.8)
Deferred income taxes			$ 38.1				29.6	38.1
CARES act of 2020, Business interest income, adjusted taxable income	50.00%
Cash tax benefit recognized		$ 1.0
Unrecognized tax benefits impact on effective tax rate							9.4
Increase (decrease) in unrecognized tax benefits							3.6
Accrued interest and penalties during the period							0.8	1.3	$ 1.3
Accrued interest and penalties end of the period			1.9				1.3	1.9
Contran
Income Taxes Disclosure [Line Items]
Income taxes payable noncurrent			4.0				8.3	4.0
Income taxes payable current			56.3				$ 50.4	56.3
Germany
Income Taxes Disclosure [Line Items]
Income tax expense (benefit)			3.0
Current income taxes expense (benefit)			1.5
Deferred income taxes expense (benefit)			1.5
Deferred income tax benefit from change in enacted tax rate			$ 4.7
European Subsidiaries \| Chemicals \| Transition Tax
Income Taxes Disclosure [Line Items]
Current income tax expense provisional pursuant to transition tax						$ 76.2
Income tax expense (benefit)				$ 2.1
Income tax liability payable period							8 years		8 years
Payable to affiliate							$ 56.3
European Subsidiaries \| Chemicals \| Transition Tax \| Contran
Income Taxes Disclosure [Line Items]
Income taxes payable noncurrent							50.4
Income taxes payable current							5.9
European Subsidiaries \| Chemicals \| Income Tax Payable \| Transition Tax \| Contran
Income Taxes Disclosure [Line Items]
Current income tax expense payable in increments over remainder of eight year period							56.3
Corporate Tax Purposes \| Kronos Worldwide, Inc. \| Germany \| Chemicals
Income Taxes Disclosure [Line Items]
Net operating loss carryforwards							531.0
Corporate Tax Purposes \| Kronos Worldwide, Inc. \| Belgium \| Chemicals
Income Taxes Disclosure [Line Items]
Net operating loss carryforwards							20.0
Direct Investment in Subsidiary \| Kronos Worldwide, Inc.
Income Taxes Disclosure [Line Items]
Deferred income taxes expense (benefit)				$ (112.0)			2.4	$ 0.1	$ 4.9
Deferred income taxes							35.5
Direct Investment in Subsidiary \| Kronos Worldwide, Inc. \| Maximum
Income Taxes Disclosure [Line Items]
Deferred income taxes							$ 155.4

Income Taxes - Changes in Uncertain Tax Positions (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unrecognized tax benefits:
Amount at beginning of year	$ 13.8	$ 21.0	$ 17.1
Net increase (decrease):
Tax positions taken in prior periods	(0.3)	(5.6)	1.3
Tax positions taken in current period	0.6	0.7	4.5
Lapse due to applicable statute of limitations	(4.8)		(1.8)
Settlement with taxing authorities		(2.2)
Changes in currency exchange rates	0.3	(0.1)	(0.1)
Amount at end of year	$ 9.6	$ 13.8	$ 21.0

Noncontrolling Interest in Subsidiaries - Noncontrolling Interest in Net Assets of Subsidiaries (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	$ 324.4	$ 340.1
Kronos Worldwide, Inc.
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	212.3	216.6
NL Industries
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	67.1	65.8
CompX International
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	23.5	22.7
BMI
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	14.7	20.1
LandWell
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	$ 6.8	$ 14.9

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).

+ References + Details

Noncontrolling Interest in Subsidiaries - Schedule of Noncontrolling Interest in Net Income (loss) of Subsidiaries (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Noncontrolling interest in net income (loss) of subsidiaries:
Noncontrolling interest in net income (loss) of subsidiaries	$ 33.8	$ 29.0	$ 38.8
Kronos Worldwide, Inc.
Noncontrolling interest in net income (loss) of subsidiaries:
Noncontrolling interest in net income (loss) of subsidiaries	12.1	16.9	39.9
NL Industries
Noncontrolling interest in net income (loss) of subsidiaries:
Noncontrolling interest in net income (loss) of subsidiaries	2.5	4.4	(7.0)
CompX International
Noncontrolling interest in net income (loss) of subsidiaries:
Noncontrolling interest in net income (loss) of subsidiaries	1.4	2.2	2.0
BMI
Noncontrolling interest in net income (loss) of subsidiaries:
Noncontrolling interest in net income (loss) of subsidiaries	7.6	2.2	1.5
LandWell
Noncontrolling interest in net income (loss) of subsidiaries:
Noncontrolling interest in net income (loss) of subsidiaries	$ 10.2	$ 3.3	$ 2.4

Valhi Stockholders' Equity - Schedule of Common Stock Outstanding (Detail) - shares shares in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Stockholders Equity [Line Items]
Common stock, shares issued	29.6	29.6	29.6
Shares of common stock, Treasury	(1.1)	(1.1)	(1.1)
Common stock, shares outstanding	29.6	29.6
Excluding Stock Ownership By Subsidiary Considered To Be Held In Treasury
Schedule Of Stockholders Equity [Line Items]
Common stock, shares outstanding	28.5	28.5	28.5

Valhi Stockholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Millions			12 Months Ended
	Aug. 10, 2020 $ / shares shares	May 28, 2020	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($) $ / shares shares	Jun. 30, 2020 shares	Dec. 31, 2012 shares
Schedule Of Stockholders Equity [Line Items]
Reverse stock split, description		Reverse stock split. On May 28, 2020 following stockholder approval at our annual meeting, our board of directors approved a reverse stock split of our common stock at a ratio of 1-for-12, which was effective on June 1, 2020.
Reverse stock split, conversion ratio		12
Reclassification from common stock to additional paid-in capital \| $			$ 3.3
Common stock, par value \| $ / shares			$ 0.01	$ 0.01
Treasury stock, shares			1,100,000	1,100,000	1,100,000
Percentage of shares held by majority-owned subsidiary that has to be considered for voting purpose			100.00%
Preferred stock, par value \| $ / shares			$ 0.01	$ 0.01
Director Plan
Schedule Of Stockholders Equity [Line Items]
Number of shares authorized								200,000
Shares awarded under new plan			50,000	50,000	14,500
Common stock available for future grant			24,000
Contran
Schedule Of Stockholders Equity [Line Items]
Preferred stock, par value \| $ / shares	$ 0.01
Non-cumulative dividend on preferred stock	6.00%
Preferred stock returned to contribution agreement authorized designated	5,000
Series A Preferred Stock
Schedule Of Stockholders Equity [Line Items]
Preferred stock, shares outstanding						5,000
Preferred stock liquidation preference, per share \| $ / shares						$ 133,466.75
Preferred stock, aggregate liquidation preference \| $						$ 667.3
Preferred stock, par value \| $ / shares						$ 0.01
Non-cumulative dividend on preferred stock						6.00%
NL
Schedule Of Stockholders Equity [Line Items]
Treasury stock, shares			1,200,000	1,200,000
Unrealized losses of shares attributable to noncontrolling interest \| $			$ 1.7	$ 0.2	$ 12.2
NL \| Director Plan
Schedule Of Stockholders Equity [Line Items]
Common stock available for future grant			79,900
Kronos Worldwide, Inc.
Schedule Of Stockholders Equity [Line Items]
Shares available for purchase			1,560,000
Treasury stock, shares			100,000	100,000
Unrealized losses of shares attributable to noncontrolling interest \| $			$ 1.7	$ 0.2	$ 12.2
Kronos Worldwide, Inc. \| Director Plan
Schedule Of Stockholders Equity [Line Items]
Common stock available for future grant			127,400
CompX \| Director Plan
Schedule Of Stockholders Equity [Line Items]
Common stock available for future grant			149,050
Common stock
Schedule Of Stockholders Equity [Line Items]
Shares available for purchase			334,000				833,333

Valhi Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of year	$ 640.0
Other comprehensive income (loss)	1.3	$ (14.5)	$ (27.2)
Balance at end of year	682.5	640.0
Marketable Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of year	1.7	1.7	1.7
Other comprehensive income (loss)	0.1
Balance at end of year	1.8	1.7	1.7
Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of year	(76.8)	(75.6)	(54.1)
Other comprehensive income (loss)	9.4	(1.2)	(21.5)
Balance at end of year	(67.4)	(76.8)	(75.6)
Accumulated Defined Benefit Plans Adjustment \| Defined Benefit Pension Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of year	(146.6)	(134.0)	(129.0)
Other comprehensive income (loss)	9.8	7.2	7.6
Net actuarial gain (loss) arising during the year	(17.3)	(19.8)	(12.6)
Balance at end of year	(154.1)	(146.6)	(134.0)
Accumulated Defined Benefit Plans Adjustment \| OPEB
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of year	1.0	1.7	2.4
Other comprehensive income (loss)	(0.8)	(0.8)	(0.8)
Net actuarial gain (loss) arising during the year	0.1	0.1	0.1
Balance at end of year	0.3	1.0	1.7
Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of year	(220.7)	(206.2)	(179.0)
Balance at end of year	$ (219.4)	$ (220.7)	$ (206.2)

Related Party Transactions - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Contran \| Intercorporate Services Agreements Fees
Related Party Transaction [Line Items]
Related party transaction	$ 41.3	$ 43.9	$ 39.6
Contran \| Combined Information Technology Data Recovery Program
Related Party Transaction [Line Items]
Related party transaction	0.3	0.2	0.3
Contran \| Pledge Fee Received
Related Party Transaction [Line Items]
Revenue and other income from related party transactions	1.4	1.9	3.1
Contran \| Tremont \| Deferred Payment \| Present Value
Related Party Transaction [Line Items]
Guarantee Obligations, estimated exposure	9.9
Contran \| Tremont \| Deferred Payment \| Face Value
Related Party Transaction [Line Items]
Guarantee Obligations, estimated exposure	11.1
Contran \| Tremont \| Promissory Notes
Related Party Transaction [Line Items]
Guarantee Obligations, estimated exposure	2.0
Contran \| Kronos Worldwide, Inc. \| Sublease Agreement
Related Party Transaction [Line Items]
Payment for sublease rent and related ancillary services	$ 0.4	0.1
Contran \| Kronos Worldwide, Inc. \| Stock Pledged as Collateral
Related Party Transaction [Line Items]
Stock pledged as collateral	21.7
Contran \| Revolving Credit Facility
Related Party Transaction [Line Items]
Interest on borrowings and unused commitment fees under credit facilities	$ 14.2	19.9	18.9
Contran and Other Affiliates
Related Party Transaction [Line Items]
Related party transaction cash received for insurance premium		0.7	5.4
Related party transaction cash paid for insurance premium	23.1
LPC
Related Party Transaction [Line Items]
Purchase of Ti02 from LPC	167.8	176.2	165.9
Sales of feedstock ore to LPC	$ 84.2	$ 84.1	$ 66.9

Related Party Transactions - Receivables from and Payables to Affiliates (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current receivables from affiliates:
Receivable from affiliates	$ 4.5	$ 7.3
Current payables to affiliates:
Payable to affiliates	27.6	20.4
Contran
Current receivables from affiliates:
Contran trade items	1.7	0.4
Current payables to affiliates:
Contran income taxes	8.3	4.0
Noncurrent payable to affiliates:
Contran - income taxes	50.4	56.3
Louisiana Pigment Company
Current receivables from affiliates:
Receivable from affiliates		4.7
Current payables to affiliates:
Payable to affiliates	19.3	16.4
VALHI, INC. \| Contran \| Credit Facility
Noncurrent payable to affiliates:
Payables to affiliate included in long-term debt	270.7	313.0
Other
Current receivables from affiliates:
Receivable from affiliates	$ 2.8	$ 2.2

Commitments and Contingencies - Lead Pigment Litigation and Environmental Matters and Litigation - Additional Information (Detail)		3 Months Ended			6 Months Ended	12 Months Ended
	Jul. 24, 2019 USD ($) Defendant Installment	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($) Installment	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) Cases site	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Commitments And Contingent Liabilities [Line Items]
Litigation settlement					$ 11,800,000	$ 11,800,000		$ 11,800,000
Litigation settlement net present value					60,100,000	49,400,000		60,100,000
Litigation settlement expense, net			$ 19,300,000					19,300,000	$ 62,000,000.0
Current insurance recovery receivable					0	0		0
Accrual for reasonably estimable environmental remediation and related matters					99,700,000	98,600,000		99,700,000	$ 103,400,000	$ 117,500,000
Other Environmental Cleanup Matters
Commitments And Contingent Liabilities [Line Items]
Accrual for reasonably estimable environmental remediation and related matters						6,000,000
NL \| Environmental Remediation Sites NL Named As PRP Or Defendant
Commitments And Contingent Liabilities [Line Items]
Accrual for reasonably estimable environmental remediation and related matters						$ 93,000,000
Number of sites associated with remediation and related costs \| site						32
NL \| Maximum \| Environmental Remediation Sites NL Named As PRP Or Defendant
Commitments And Contingent Liabilities [Line Items]
Upper end range, estimate costs for remediation and related matters						$ 114,000,000
Lead Pigment Litigation \| NL
Commitments And Contingent Liabilities [Line Items]
Number of cases settled and dismissed and found not liable \| Cases						100
Period by which loss contingency claims settled and dismissed						30 years
California Lead Paint Litigation \| NL
Commitments And Contingent Liabilities [Line Items]
Description of defendants						July 24, 2019, an order approving a global settlement agreement entered into among all of the plaintiffs and the three defendants remaining in the case (the Sherwin Williams Company, ConAgra Grocery Products and NL) was entered by the court and the case was dismissed with prejudice. The global settlement agreement provides that an aggregate $305 million will be paid collectively by the three co-defendants in full satisfaction of all claims resulting in a dismissal of the case with prejudice and the resolution of (i) all pending and future claims by the plaintiffs in the case, and (ii) all potential claims for contribution or indemnity between NL and its co-defendants in respect to the case.
Number of Defendant \| Defendant	3
Settlement amount	$ 305,000,000
Litigation settlement	101,700,000			$ 62,000,000
Litigation settlement charge upon approval of settlement terms	25,000,000.0			45,000,000
Remaining litigation settlement charge	$ 76,700,000		101,700,000	$ 20,000,000
Number of annual installments \| Installment	6			5
Remaining litigation settlement charge due in first installment	$ 12,000,000.0
Remaining litigation settlement charge due in second installment	12,000,000.0
Remaining litigation settlement charge due in third installment	12,000,000.0
Remaining litigation settlement charge due in fourth installment	12,000,000.0
Remaining litigation settlement charge due in fifth installment	12,000,000.0
Remaining litigation settlement charge due in sixth installment	$ 16,700,000
Litigation settlement, current		$ 300,000		$ 80,000,000
Litigation settlement net present value			$ 96,300,000	$ 17,000,000
Litigation settlement installments payment beginning term from approval				4 years
Discounted rate for estimated present value of remaining litigation amount			1.90%
Litigation settlement expense, net			$ 19,600,000					$ 19,300,000
Litigation settlement, first annual installment payment							$ 12,000,000.0
Litigation settlement accrual payments		25,000,000.0
Accretion expense					$ 600,000	$ 1,300,000
California Lead Paint Litigation \| NL \| Other Assets
Commitments And Contingent Liabilities [Line Items]
Escrow deposit		$ 9,000,000.0

Commitments and Contingencies - Changes in Accrued Environmental Remediation and Related Costs (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Environmental Remediation Obligations [Abstract]
Balance at the beginning of the year	$ 99.7	$ 103.4	$ 117.5
Additions charged to expense, net	0.7	0.3	3.1
Payments, net	(1.9)	(4.0)	(17.2)
Changes in currency exchange rates and other	0.1
Balance at the end of the year	98.6	99.7	103.4
Amounts recognized in our Consolidated Balance Sheet at the end of the year:
Current liabilities				$ 3.4	$ 4.5	$ 6.5
Noncurrent liabilities				95.2	95.2	96.9
Total	$ 98.6	$ 99.7	$ 103.4	$ 98.6	$ 99.7	$ 103.4

Commitments and Contingencies - Other Litigation and Other Matters - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) Customer	Dec. 31, 2019	Dec. 31, 2018
Chemicals \| TiO2 Product
Commitments And Contingent Liabilities [Line Items]
Sale of TiO2, number of customers \| Customer	4,000
Chemicals \| Customer Concentration Risk \| Net Sales
Commitments And Contingent Liabilities [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%
Component Products Segment \| Customer Concentration Risk \| Top Ten Customers \| Net Sales
Commitments And Contingent Liabilities [Line Items]
Concentration risk percentage	48.00%	47.00%	44.00%
Component Products \| Customer Concentration Risk \| Net Sales \| Security Products Reporting Unit
Commitments And Contingent Liabilities [Line Items]
Concentration risk percentage	17.00%	14.00%	13.00%
Real Estate Management And Development \| Customer Concentration Risk \| Net Sales \| Minimum
Commitments And Contingent Liabilities [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%
TiO2 \| Chemicals \| TiO2 Product \| Net Sales
Commitments And Contingent Liabilities [Line Items]
Concentration risk percentage	93.00%	94.00%	94.00%
TiO2 \| Chemicals \| Customer Concentration Risk \| Top Ten Customers \| Net Sales
Commitments And Contingent Liabilities [Line Items]
Concentration risk percentage	34.00%	36.00%	33.00%
Feedstock Ore \| Chemicals
Commitments And Contingent Liabilities [Line Items]
Minimum purchase commitments	$ 1,200
Other Supply And Service Contracts \| Chemicals
Commitments And Contingent Liabilities [Line Items]
Minimum purchase commitments	$ 86

Commitments and Contingencies - Approximate Percentage of TiO2 Sales by Volume for Segments (Detail) - TiO2 - Geographic Concentration Risk - Net Sales - Chemicals	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Europe
Schedule Of Sales Revenue By Business Segment [Line Items]
Concentration risk percentage	46.00%	46.00%	44.00%
North America
Schedule Of Sales Revenue By Business Segment [Line Items]
Concentration risk percentage	36.00%	34.00%	37.00%

Financial Instruments - Summary of Valuation of Short-term Investments and Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, current	$ 4.4	$ 2.1
Marketable securities, noncurrent	2.9	6.2
Quoted Prices in Active Markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, noncurrent	0.2	1.3
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, current	4.4	2.1
Marketable securities, noncurrent	$ 2.7	$ 4.9

Financial Instruments - Financial Instruments not Carried at Fair Value (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Kronos Worldwide, Inc. \| 3.75% Senior Secured Notes due September 15, 2025 \| Kronos International, Inc
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount	$ 485.7	$ 442.6
Long term debt, fair value	499.9	457.0
VALHI, INC. \| Contran Credit Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount	270.7	313.0
Long term debt, fair value	270.7	313.0
Tremont \| Promissory Note
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount		2.0
Long term debt, fair value		2.0
BMI \| Bank note payable \| Meadows Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount	16.3	17.2
Long term debt, fair value	16.9	17.9
LandWell \| Bank note payable
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount	14.2	15.0
Long term debt, fair value	14.2	15.0
LandWell \| Unsecured Debt
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount		1.6
Long term debt, fair value		1.6
Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash equivalents	570.3	583.8
Deferred payment obligation	1.3	9.9
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash equivalents	570.3	583.8
Deferred payment obligation	$ 1.3	$ 9.9

Financial Instruments - Additional Information (Detail) - Kronos Worldwide, Inc. - 3.75% Senior Secured Notes due September 15, 2025 - Kronos International, Inc	Dec. 31, 2020 EUR (€)
Financial Instrument At Fair Value [Line Items]
Estimated market price of the notes	€ 1,019
Principal amount of debt instrument	€ 1,000

Recent Accounting Pronouncements - Additional Information (Detail) - ASU 2019-12	Dec. 31, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true

- Definition

Indicates (true false) whether accounting standards update was adopted.

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- Definition

Date accounting standards update was adopted, in CCYY-MM-DD format.

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+ Details

Quarterly Results of Operations - Schedule of Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Quarterly Results Of Operations Schedule Of Quarterly Results Of Operations [Abstract]
Net sales	$ 516.8	$ 458.6	$ 415.0	$ 459.3	$ 414.1	$ 475.2	$ 528.6	$ 479.6	$ 1,849.7	$ 1,897.5	$ 1,820.1
Gross margin	118.7	89.7	104.0	99.7	91.2	98.4	123.2	121.8	412.1	434.6	609.2
Operating income	46.9	28.9	39.3	71.0	25.0	41.4	65.9	60.4	186.1	192.7	370.7
Net income from continuing operations	31.6	19.4	(4.2)	37.9	14.4	17.2	18.2	28.4	84.7	78.2	266.9
Amounts attributable to Valhi stockholders:
Income from continuing operations	20.2	15.4	(9.1)	24.4					50.9	49.2	228.1
Income from discontinued operations	4.3								4.3		34.1
Net income attributable to Valhi stockholders	$ 24.5	$ 15.4	$ (9.1)	$ 24.4	$ 10.8	$ 13.1	$ 7.1	$ 18.2	$ 55.2	$ 49.2	$ 262.2
Earnings per share:
Income from continuing operations	$ 0.71	$ 0.54	$ (0.32)	$ 0.86					$ 1.79	$ 1.73	$ 8.00
Income from discontinued operations	0.15								0.15		1.20
Net income per basic and diluted share	$ 0.86	$ 0.54	$ (0.32)	$ 0.86	$ 0.38	$ 0.46	$ 0.25	$ 0.64	$ 1.94	$ 1.73	$ 9.20

Quarterly Results of Operations - Schedule of Quarterly Results of Operations (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended						12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Litigation settlement expense, net						$ 19.3		$ 19.3	$ 62.0
Infrastructure reimbursement			$ 19.1			8.8	$ 19.7	9.2	4.3
Insurance recoveries						$ 7.7	1.6	7.7	1.3
Gain on land sales		$ 4.0			$ 4.4		4.5	4.4	12.5
Gain on sale of insurance and risk management business				$ 3.0			$ 4.9	$ 3.0	58.4
Waste Management
Pre-tax gain from disposal of discontinued operations	$ 4.9								$ 58.4