0001558370-23-008111 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Entity File Number	1-5467
Entity Registrant Name	VALHI, INC.
Entity Central Index Key	0000059255
Entity Incorporation, State or Country Code	DE
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
Trading Symbol	VHI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding		28,279,493
Document Quarterly Report	true

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 298.1	$ 478.5
Restricted cash equivalents	47.2	46.3
Marketable securities	101.0	75.1
Accounts and other receivables, net	328.8	281.9
Inventories, net	643.8	640.8
Prepaid expenses and other	55.4	66.9
Total current assets	1,474.3	1,589.5
Other assets:
Marketable securities	1.6	1.2
Investment in TiO2 manufacturing joint venture	113.6	112.9
Goodwill	379.7	379.7
Deferred income taxes	42.6	40.5
Other assets	178.3	188.1
Total other assets	715.8	722.4
Property and equipment:
Land	48.3	47.8
Buildings	247.5	244.1
Equipment	1,164.3	1,152.3
Mining properties	2.5	13.5
Construction in progress	84.3	77.2
Gross property and equipment	1,546.9	1,534.9
Less accumulated depreciation and amortization	1,018.9	1,011.1
Net property and equipment	528.0	523.8
Total assets	2,718.1	2,835.7
Current liabilities:
Current maturities of long-term debt	1.6	1.8
Accounts payable and accrued liabilities	387.8	477.7
Income taxes	7.6	13.3
Total current liabilities	397.0	492.8
Noncurrent liabilities:
Long-term debt	559.9	557.7
Deferred income taxes	64.1	63.5
Payable to affiliate - income taxes	33.4	33.4
Accrued pension costs	132.4	131.6
Accrued environmental remediation and related costs	93.4	93.5
Other liabilities	149.1	156.4
Total noncurrent liabilities	1,032.3	1,036.1
Equity:
Common stock, $.01 par value; 50.0 million shares authorized; 29.6 million shares issued and outstanding	0.3	0.3
Additional paid-in capital	668.6	669.5
Retained earnings	475.1	482.3
Accumulated other comprehensive loss	(148.0)	(143.9)
Treasury stock, at cost - 1.1 million shares	(49.6)	(49.6)
Total Valhi stockholders' equity	946.4	958.6
Noncontrolling interest in subsidiaries	342.4	348.2
Total equity	1,288.8	1,306.8
Total liabilities and equity	2,718.1	$ 2,835.7
Commitments and contingencies (Notes 9, 14, 17 and 18)

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues and other income:
Net sales	$ 492.7	$ 629.0
Other income, net	13.1
Total revenues and other income	505.8	629.0
Cost and expenses:
Cost of sales	438.6	458.3
Selling, general and administrative	68.8	77.2
Other components of net periodic pension and OPEB expense	1.2	3.3
Interest	7.0	6.9
Total costs and expenses	515.6	545.7
Income from continuing operations before income taxes	(9.8)	83.3
Income tax expense	(6.1)	19.9
Net income	(3.7)	63.4
Noncontrolling interest in net income of subsidiaries	1.2	18.0
Net income attributable to Valhi stockholders	(4.9)	45.4
Amounts attributable to Valhi stockholders:
Net income attributable to Valhi stockholders	$ (4.9)	$ 45.4
Basic and diluted net income per share:
Net income per basic share	$ (0.17)	$ 1.59
Net income per diluted share	$ (0.17)	$ 1.59
Weighted average shares outstanding - basic	28.5	28.5
Weighted average shares outstanding - diluted	28.5	28.5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ (3.7)	$ 63.4
Other comprehensive income (loss), net of tax:
Currency translation	(6.1)	5.8
Other	(0.2)	(0.2)
Defined benefit pension plans	0.7	2.4
Total other comprehensive income, net	(5.6)	8.0
Comprehensive income	(9.3)	71.4
Comprehensive income attributable to noncontrolling interest	(0.3)	20.1
Comprehensive income attributable to Valhi stockholders	$ (9.0)	$ 51.3

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) $ in Millions	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock	Non-controlling interest	Total
Balance at Dec. 31, 2021	$ 0.3	$ 669.0	$ 401.1	$ (191.3)	$ (49.6)	$ 328.9	$ 1,158.4
Net income			45.4			18.0	63.4
Cash dividends			(2.2)				(2.2)
Dividends paid to noncontrolling interest						(5.2)	(5.2)
Other comprehensive income (loss), net				5.9		2.1	8.0
Equity transaction with noncontrolling interest, net and other		1.4				(2.8)	(1.4)
Balance at Mar. 31, 2022	0.3	670.4	444.3	(185.4)	(49.6)	341.0	1,221.0
Balance at Dec. 31, 2022	0.3	669.5	482.3	(143.9)	(49.6)	348.2	1,306.8
Net income			(4.9)			1.2	(3.7)
Cash dividends			(2.3)				(2.3)
Dividends paid to noncontrolling interest						(5.2)	(5.2)
Other comprehensive income (loss), net				(4.1)		(1.5)	(5.6)
Equity transaction with noncontrolling interest, net and other		(0.9)				(0.3)	(1.2)
Balance at Mar. 31, 2023	$ 0.3	$ 668.6	$ 475.1	$ (148.0)	$ (49.6)	$ 342.4	$ 1,288.8

- Definition

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

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- Definition

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

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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 CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ (3.7)	$ 63.4
Depreciation and amortization	14.3	14.8
Benefit plan expense greater than cash funding	(2.0)	1.8
Deferred income taxes	0.3	3.1
Distributions from (contributions to) TiO2 manufacturing joint venture, net	(0.7)	(3.8)
Other, net	1.7	2.7
Change in assets and liabilities:
Accounts and other receivables, net	(39.0)	(43.9)
Inventories, net	1.5	(35.3)
Land held for development, net	(8.4)	7.1
Accounts payable and accrued liabilities	(82.6)	(37.7)
Income taxes	(1.3)	7.1
Accounts with affiliates	(15.4)	8.1
Other, net	8.5	(10.2)
Net cash provided by operating activities	(126.8)	(22.8)
Cash flows from investing activities:
Capital expenditures	(16.7)	(16.2)
Purchases of marketable securities	(33.8)	(0.1)
Proceeds from disposal of marketable securities	8.5	0.8
Net cash used in investing activities	(42.0)	(15.5)
Cash flows from financing activities:
Principal payments on indebtedness	(7.4)	(5.9)
Valhi cash dividends paid	(2.3)	(2.2)
Distributions to noncontrolling interest in subsidiaries	(5.2)	(5.2)
Subsidiary treasury stock acquired	(1.4)	(1.1)
Net cash used in financing activities	(16.3)	(14.4)
Operating, investing and financial activities	(185.1)	(52.7)
Cash, cash equivalents and restricted cash and cash equivalents - net change from:
Operating, investing and financial activities	(185.1)	(52.7)
Effect of exchange rates on cash	(0.7)	(0.4)
Balance at beginning of year	562.0	792.9
Balance at end of year	376.2	739.8
Cash paid for:
Interest, net of amounts capitalized	10.5	10.2
Income taxes, net	(2.4)	6.2
Noncash investing activities:
Change in accruals for capital expenditures	$ 6.3	$ 3.8

Organization and Basis of Presentation

3 Months Ended

Mar. 31, 2023

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Basis of Presentation

Note 1 – Organization and basis of presentation:

Organization – We are majority owned by a wholly-owned subsidiary of Contran Corporation (“Contran”), which owns approximately 92% of our outstanding common stock at March 31, 2023. 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 March 31, 2023, Ms. Simmons and the Family Trust may be deemed to control Contran and us.

Basis of Presentation – Consolidated in this Quarterly Report are the results of 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”).

The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 that we filed with the SEC on March 9, 2023 (the “2022 Annual Report”). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments), in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet at December 31, 2022 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2022) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Our results of operations for the interim period ended March 31, 2023 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2022 Consolidated Financial Statements contained in our 2022 Annual Report.

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

Business Segment Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Business Segment Information

Note 2 – Business segment information:


		% controlled at
Business segment	Entity	March 31, 2023
Chemicals	Kronos	81%
Component products	CompX	87%
Real estate management and development	BMI and LandWell	63% - 77%

Our control of Kronos includes approximately 50% we hold directly and approximately 31% held directly by NL. We own approximately 83% of NL. Our control of CompX is through NL. We own approximately 63% of BMI. Our control of LandWell includes the approximately 27% we hold directly and 50% held by BMI.


	Three months ended
	March 31,
	2022		2023

	(In millions)
Net sales:
Chemicals	$	562.9	$	426.3
Component products		42.1		41.2
Real estate management and development		24.0		25.2
Total net sales	$	629.0	$	492.7
Cost of sales:
Chemicals	$	413.9	$	395.8
Component products		30.0		28.5
Real estate management and development		14.4		14.3
Total cost of sales	$	458.3	$	438.6
Gross margin:
Chemicals	$	149.0	$	30.5
Component products		12.1		12.7
Real estate management and development		9.6		10.9
Total gross margin	$	170.7	$	54.1
Operating income (loss):
Chemicals	$	86.4	$	(15.1)
Component products		6.3		7.0
Real estate management and development		8.0		10.6
Total operating income		100.7		2.5
General corporate items:
Interest income and other		.9		4.9
Other components of net periodic pension and OPEB expense		(3.3)		(1.2)
Changes in market value of Valhi common stock held by subsidiaries		.1		(1.1)
General expenses, net		(8.2)		(7.9)
Interest expense		(6.9)		(7.0)
Income (loss) before income taxes	$	83.3	$	(9.8)

Segment results we report may differ from amounts separately reported by our various subsidiaries due to purchase accounting adjustments and related amortization or differences in the way we define operating income. Intersegment sales are not material. Included in the determination of Chemicals operating loss is a business interruption insurance settlement gain of $1.7 million recognized in the first quarter of 2023 (see Note 12).

BMI provides certain utility services, among other things, to an industrial park located in Henderson, Nevada and prior to the bankruptcy filing on September 10, 2022 of Basic Water Company (“BWC”), a wholly-owned subsidiary of BMI, was responsible for the delivery of water to the City of Henderson and various other users under long-term contracts through a water delivery system owned and operated by BWC. BWC’s water delivery system operated on Lake Mead in Nevada. Due to the Western drought, water levels in Lake Mead have been declining for much of the last twenty years. As a result of water release curtailments upstream of Lake Mead which began late in the second quarter, Lake Mead water levels have dropped precipitously to historically low levels. On June 30, 2022 BWC was no longer able to pump water without the risk of damaging the system and consequently ceased operations at its water intake facility to best preserve the system. Without the ability to pump and deliver water to its customers, BWC’s operating expenses exceeded its revenues, and on September 10, 2022 BWC and its subsidiaries voluntarily filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Nevada. Because BWC has filed for bankruptcy protection, we and BMI can no longer affirmatively assert we control BWC and, as such, in accordance with ASC 810, Consolidation, we deconsolidated BWC as of the date of the bankruptcy filing.

- 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

Accounts and Other Receivables, Net

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Accounts and Other Receivables, Net

Note 3 – Accounts and other receivables, net:


	December 31,		March 31,
	2022		2023

	(In millions)
Trade accounts receivable:
Kronos	$	220.3	$	261.2
CompX		17.9		18.8
BMI/LandWell		2.3		1.7
VAT and other receivables		35.4		35.6
Refundable income taxes		8.0		4.3
Receivables from affiliates:
Louisiana Pigment Company, L.P. ("LPC")		—		10.4
Contran trade items		.2		.6
Other		2.7		1.1
Allowance for doubtful accounts		(4.9)		(4.9)
Total	$	281.9	$	328.8

Inventories, Net

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories, Net

Note 4 – Inventories, net:


	December 31,		March 31,
	2022		2023

	(In millions)
Raw materials:
Chemicals	$	145.3	$	158.9
Component products		6.2		6.0
Total raw materials		151.5		164.9
Work in process:
Chemicals		32.0		36.7
Component products		20.0		19.4
Total in-process products		52.0		56.1
Finished products:
Chemicals		350.7		334.5
Component products		5.1		4.9
Total finished products		355.8		339.4
Supplies (chemicals)		81.5		83.4
Total	$	640.8	$	643.8

Marketable Securities

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Marketable Securities

Note 5 – Marketable securities:


			Cost or
			amortized		Unrealized
	Market value		cost		loss, net

	(In millions)
December 31, 2022:
Current assets	$	75.1	$	75.7	$	(.6)

Noncurrent assets	$	1.2	$	1.2	$	—

March 31, 2023:
Current assets	$	101.0	$	101.5	$	(.5)

Noncurrent assets	$	1.6	$	1.6	$	—

Our marketable securities are primarily invested in U.S. government treasuries which are carried at fair value using Level 2 inputs. 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 period-end valuation is generally based on the last trade of the period, which may be several days prior to the end of the period).

Other Assets

3 Months Ended

Mar. 31, 2023

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets

Note 6 – Other assets:


	December 31,		March 31,
	2022		2023

	(In millions)
Other noncurrent assets:
Restricted cash and cash equivalents	$	37.2	$	30.9
Note receivables - OPA		49.3		46.5
Land held for development		29.7		29.6
Operating lease right-of-use assets		21.5		21.3
IBNR receivables		16.8		15.4
Pension asset		9.3		9.8
Other		24.3		24.8
Total	$	188.1	$	178.3

Note receivables - OPA – As disclosed in Note 7 to our 2022 Annual Report, under an Owner Participation Agreement (“OPA”) entered into by LandWell with the Redevelopment Agency of the City of Henderson, Nevada, as LandWell develops certain real property for commercial and residential purposes in its master planned community in Henderson, Nevada, the cost of certain public infrastructure may be reimbursed to LandWell through tax increment. Once the tax increment reimbursement is approved, the amount is recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson. No additional tax increment amounts were approved during the first three months of 2022 and 2023.

Long-Term Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Note 7 – Long-term debt:


	December 31,		March 31,
	2022		2023

	(In millions)
Valhi:
Contran credit facility	$	121.4	$	114.2
Subsidiary debt:
Kronos:
Senior Notes		424.1		433.5
LandWell:
Note payable to Western Alliance Business Trust		12.9		12.9
Other		1.1		.9
Total subsidiary debt		438.1		447.3
Total debt		559.5		561.5
Less current maturities		1.8		1.6
Total long-term debt	$	557.7	$	559.9

Valhi – Contran credit facility – During the first three months of 2023, we had no borrowings and repaid $7.2 million under this facility. The average interest rate on the credit facility for the three months ended March 31, 2023 was 8.69%. At March 31, 2023, the interest rate was 9.00% and $60.8 million was available for borrowing under this facility.

Kronos – Senior Notes – At March 31, 2023, the carrying value of Kronos’ 3.75% Senior Secured Notes due September 15, 2025 (€400 million aggregate principal amount outstanding) is stated net of unamortized debt issuance costs of $2.2 million.

Revolving credit facility – During the first three months of 2023, Kronos had no borrowings or repayments under its $225 million global revolving credit facility and at March 31, 2023, the full $225 million was available for borrowing.

Other – We are in compliance with all of our debt covenants at March 31, 2023.

Accounts Payable and Accrued Liabilities

3 Months Ended

Mar. 31, 2023

Payables And Accruals [Abstract]

Accounts Payable and Accrued Liabilities

Note 8 – Accounts payable and accrued liabilities:


	December 31,		March 31,
	2022		2023

	(In millions)
Accounts payable:
Kronos	$	177.2	$	144.6
CompX		3.5		3.9
BMI/LandWell		18.7		8.1
Total		199.4		156.6
Payables to affiliates:
LPC		17.1		19.0
Contran - income taxes		5.8		3.1
Deferred income		110.7		100.1
Employee benefits		34.4		28.9
Accrued litigation settlement		11.8		11.9
Accrued sales discounts and rebates		25.6		8.3
Operating lease liabilities		3.8		3.7
Environmental remediation and related costs		3.8		2.9
Interest		4.9		1.1
Other		60.4		52.2
Total	$	477.7	$	387.8

The accrued litigation settlement is discussed in Note 16.

Other Noncurrent Liabilities

3 Months Ended

Mar. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Noncurrent Liabilities

Note 9 – Other noncurrent liabilities:


	December 31,		March 31,
	2022		2023

	(In millions)
Accrued development costs	$	48.1	$	45.8
Accrued litigation settlement		27.4		27.6
Deferred income		25.9		22.0
Insurance claims and expenses		18.7		17.2
Operating lease liabilities		17.4		17.2
Other postretirement benefits		7.1		7.0
Employee benefits		4.8		4.9
Reserve for uncertain tax positions		.3		.3
Other		6.7		7.1
Total	$	156.4	$	149.1

The accrued litigation settlement is discussed in Note 16.

Revenue - Disaggregation of Sales

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Revenue - Disaggregation of Sales

Note 10 – Revenue – disaggregation of sales:

The following table disaggregates the net sales of our Chemicals Segment by place of manufacture (point of origin) and to 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.


	Three months ended
	March 31,
	2022		2023

	(In millions)
Net sales - point of origin:
United States	$	326.4	$	255.8
Germany		276.5		186.0
Canada		96.4		90.9
Belgium		92.8		68.8
Norway		78.4		71.9
Eliminations		(307.6)		(247.1)
Total	$	562.9	$	426.3

Net sales - point of destination:
Europe	$	269.5	$	201.1
North America		179.9		148.6
Other		113.5		76.6
Total	$	562.9	$	426.3

The following table disaggregates the net sales of our Component Products and Real Estate Management and Development Segments by major product line.


	Three months ended
	March 31,
	2022		2023

	(In millions)
Component Products:
Net sales:
Security products	$	29.6	$	27.4
Marine components		12.5		13.8
Total	$	42.1	$	41.2

Real Estate Management and Development:
Net sales:
Land sales	$	22.2	$	24.9
Utility and other		.3		.3
Water delivery		1.5		—
Total	$	24.0	$	25.2

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (a)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Paragraph 12
-Subparagraph (d)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Defined Benefit Pension Plans

3 Months Ended

Mar. 31, 2023

Compensation And Retirement Disclosure [Abstract]

Defined Benefit Pension Plans

Note 11 – Defined benefit pension plans:

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


	Three months ended
	March 31,
	2022		2023

	(In millions)
Service cost	$	3.0	$	1.6
Interest cost		3.2		5.6
Expected return on plan assets		(3.5)		(5.2)
Recognized net actuarial losses		3.8		.9
Total	$	6.5	$	2.9

We expect to contribute the equivalent of approximately $18 million to all of our defined benefit pension plans during 2023.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2235017

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-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (c)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
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-Publisher FASB
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-Name Accounting Standards Codification
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-Subparagraph (d)(iii)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
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-Subparagraph (l)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Other income, net

3 Months Ended

Mar. 31, 2023

Other Income And Expenses [Abstract]

Other Income, Net

Note 12 – Other income, net:


	Three months ended
	March 31,
	2022		2023

	(In millions)
Interest income and other:
Interest and dividends	$	1.1	$	4.8
Securities transactions, net		(.2)		.1
Total		.9		4.9
Currency transactions, net		(1.5)		5.4
Insurance recoveries		—		1.7
Other, net		.6		1.1
Total	$	—	$	13.1

Insurance recoveries – On August 24, 2020, LPC temporarily halted production due to Hurricane Laura. Although storm damage to core processing facilities was not extensive, a variety of factors, including loss of utilities and limited access and availability of employees and raw materials, prevented the resumption of operations until September 25, 2020. The majority of Kronos’ losses from property damage and its share of LPC’s lost production and other costs resulting from the disruption of operations were covered by insurance. Kronos recognized a gain of $1.7 million related to its business interruption claim in the first quarter of 2023.

Income taxes

3 Months Ended

Mar. 31, 2023

Income taxes Disclosure [Abstract]

Income taxes

Note 13 – Income taxes:


	Three months ended
	March 31,
	2022		2023

	(In millions)
Expected tax expense (benefit) at U.S. federal statutory income tax rate of 21%	$	17.5	$	(2.1)
Non-U.S. tax rates		2.1		—
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. tax group companies		(.9)		.4
Valuation allowance		.6		(.9)
Global intangible low-tax income, net		.7		(1.5)
Adjustment to the reserve for uncertain tax positions, net		(.7)		(1.4)
Adjustment of prior year taxes, net		—		(.4)
Nondeductible expenses		.4		(.5)
U.S. state income taxes and other, net		.2		.3
Income tax expense (benefit)	$	19.9	$	(6.1)

Comprehensive provision for income taxes allocable to:
Net income (loss)	$	19.9	$	(6.1)
Other comprehensive income (loss):
Currency translation		.7		(.8)
Pension plans		1.4		.3
Other		.2		(.2)
Total	$	22.2	$	(6.8)

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 our Chemicals Segment’s 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 investments in LandWell and BMI.

During the first quarter of 2023, we recognized a non-cash deferred income tax benefit of $1.0 million relating to a decrease in our unrecognized tax benefits due to the expiration of certain statutes of limitations. We recognized a similar non-cash deferred income tax benefit of $1.1 million in the first quarter of 2022, also due to the expiration of certain statutes of limitations.

Tax authorities are examining certain of our U.S. and non-U.S. income tax returns and may propose tax deficiencies, including penalties and interest. 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. We currently estimate that our unrecognized tax benefits will decrease by approximately $.2 million during the next twelve months primarily due to the expiration of certain statutes of limitations.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 17
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SAB TOPIC 6.I.5.Q1)
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-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: 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(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Noncontrolling interest in subsidiaries

3 Months Ended

Mar. 31, 2023

Noncontrolling Interest [Abstract]

Noncontrolling Interest in Subsidiaries

Note 14 – Noncontrolling interest in subsidiaries:


	December 31,		March 31,
	2022		2023

	(In millions)
Noncontrolling interest in net assets:
Kronos Worldwide	$	239.3	$	230.6
NL Industries		79.0		77.0
CompX International		20.6		21.0
BMI		6.9		8.6
LandWell		2.4		5.2
Total	$	348.2	$	342.4


	Three months ended March 31,
	2022		2023

	(In millions)
Noncontrolling interest in net income (loss) of subsidiaries:
Kronos Worldwide	$	11.1	$	(3.0)
NL Industries		3.2		(1.1)
CompX International		.6		.8
BMI		1.2		1.7
LandWell		1.9		2.8
Total	$	18.0	$	1.2

Stockholders' Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Stockholders' Equity

Note 15 – Stockholders’ equity:

Accumulated other comprehensive loss – Changes in accumulated other comprehensive income (loss) attributable to Valhi stockholders are presented in the table below.


	Three months ended
	March 31,
	2022		2023

	(In millions)
Accumulated other comprehensive income (loss) (net of tax and noncontrolling interest):
Marketable securities:
Balance at beginning of period	$	1.7	$	1.6
Other comprehensive income:
Unrealized gain arising during the period		—		—
Balance at end of period	$	1.7	$	1.6
Currency translation:
Balance at beginning of period	$	(72.2)	$	(91.5)
Other comprehensive gain (loss) arising during the period		4.2		(4.5)
Balance at end of period	$	(68.0)	$	(96.0)
Defined benefit pension plans:
Balance at beginning of period	$	(120.9)	$	(55.0)
Other comprehensive income:
Amortization of prior service cost and net losses included in net periodic pension cost		1.8		.6
Balance at end of period	$	(119.1)	$	(54.4)
OPEB plans:
Balance at beginning of period	$	.1	$	1.0
Other comprehensive income:
Amortization of prior service credit and net losses included in net periodic OPEB cost		(.1)		(.2)
Balance at end of period	$	—	$	.8
Total accumulated other comprehensive loss:
Balance at beginning of period	$	(191.3)	$	(143.9)
Other comprehensive income (loss)		5.9		(4.1)
Balance at end of period	$	(185.4)	$	(148.0)

Other – During the first quarter of 2022, Kronos acquired 73,881 shares of its common stock in market transactions for an aggregate purchase price of $1.1 million. During the first quarter of 2023, Kronos acquired 159,796 shares of its common stock in market transactions for an aggregate purchase price of $1.4 million. At March 31, 2023, approximately 1.2 million shares were available for repurchase under Kronos’ stock repurchase program.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 16 – Commitments and contingencies:

Lead pigment litigation – NL

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 these actions are without merit, and intends to continue to deny all allegations of wrongdoing and liability and to defend against all actions vigorously. We do not believe it is probable we have incurred any liability with respect to pending 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, 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 judgments 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, 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 terms of the 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) global settlement agreement, NL has three annual installment payments remaining ($12.0 million for the next two installments and $16.7 million for the final installment). NL’s final installment will be made with funds already on deposit at the court, which are included in noncurrent restricted cash on our Condensed 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). See Note 18 to our 2022 Annual Report.

New cases may continue to be filed against NL. We do not know if we will incur liability in the future in respect to 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 NL 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 NL 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 all of our facilities are in substantial compliance with applicable environmental laws.

Certain properties and facilities used in our former operations (primarily 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, and NL or its 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. Actual costs could exceed accrued amounts or the upper end of the range for sites for which estimates have been made, and costs may 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.

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 the 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 the first three months of 2023.


	Amount
	(In millions)

Balance at the beginning of the period	$	97.3
Additions charged to expense, net		—
Payments, net		(1.0)
Balance at the end of the period	$	96.3
Amounts recognized in the Condensed Consolidated Balance Sheet at the end of the period:
Current liabilities	$	2.9
Noncurrent liabilities		93.4
Total	$	96.3

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 March 31, 2023, NL had accrued approximately $92 million related to approximately 33 sites associated with remediation and related matters 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 $118 million, including the amount currently accrued.

NL believes that it is not reasonably possible to estimate the range of costs for certain sites. At March 31, 2023, 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, if any, 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, is 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, is 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 $4 million at March 31, 2023 for other environmental cleanup matters which represents our best estimate of the liability.

Insurance coverage claims – NL

NL is involved in certain legal proceedings with a number of its former insurance carriers regarding the nature and extent of the carriers’ obligations to NL 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 NL’s lead pigment and asbestos litigation depends upon a variety of factors, and we cannot assure you that such insurance coverage will be available.

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. We are not able to determine how much NL will ultimately recover from these carriers for defense costs incurred by NL because of certain issues that arise regarding which defense costs qualify for reimbursement. While NL continues 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.

For a complete discussion of certain litigation involving NL and certain of its former insurance carriers, refer to our 2022 Annual Report.

Other litigation

In addition to the litigation described above, we and our affiliates are also 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 additional material insurance coverage for our environmental matters. We currently believe 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.

Fair Value Measurements and Financial Instruments

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Financial instruments

Note 17 – Fair value measurements and financial instruments:

See Note 5 for amounts related to our marketable securities.

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure:

December 31, 2022

March 31, 2023

Carrying

Fair

Carrying

Fair

amount

value

amount

value

(In millions)

Cash, cash equivalents and restricted cash equivalents

562.0

376.2

Long-term debt:

Kronos Senior Notes

424.1

374.2

433.5

389.4

Valhi credit facility with Contran

121.4

114.2

LandWell bank note payable

12.9

12.9

At March 31, 2023, the estimated market price of Kronos’ Senior Notes was €918 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 term loan trades were not active. The fair value of variable interest rate debt and other fixed-rate debt, which represents Level 2 inputs, is deemed to approximate carrying values. See Note 7. Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value. See Notes 3 and 8.

- 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

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2023
Summary of significant accounting policies
Organization	Organization – We are majority owned by a wholly-owned subsidiary of Contran Corporation (“Contran”), which owns approximately 92% of our outstanding common stock at March 31, 2023. 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 March 31, 2023, Ms. Simmons and the Family Trust may be deemed to control Contran and us.
Basis of Presentation	Basis of Presentation – Consolidated in this Quarterly Report are the results of 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”). The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 that we filed with the SEC on March 9, 2023 (the “2022 Annual Report”). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments), in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet at December 31, 2022 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2022) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Our results of operations for the interim period ended March 31, 2023 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2022 Consolidated Financial Statements contained in our 2022 Annual Report. Unless otherwise indicated, references in this report to “we,” “us” or “our” refer to Valhi, Inc. and its subsidiaries (NYSE: VHI), taken as a whole.

Business and Geographic Segments (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Holding Percentage of Subsidiaries


		% controlled at
Business segment	Entity	March 31, 2023
Chemicals	Kronos	81%
Component products	CompX	87%
Real estate management and development	BMI and LandWell	63% - 77%

Segment Operating Performance


	Three months ended
	March 31,
	2022		2023

	(In millions)
Net sales:
Chemicals	$	562.9	$	426.3
Component products		42.1		41.2
Real estate management and development		24.0		25.2
Total net sales	$	629.0	$	492.7
Cost of sales:
Chemicals	$	413.9	$	395.8
Component products		30.0		28.5
Real estate management and development		14.4		14.3
Total cost of sales	$	458.3	$	438.6
Gross margin:
Chemicals	$	149.0	$	30.5
Component products		12.1		12.7
Real estate management and development		9.6		10.9
Total gross margin	$	170.7	$	54.1
Operating income (loss):
Chemicals	$	86.4	$	(15.1)
Component products		6.3		7.0
Real estate management and development		8.0		10.6
Total operating income		100.7		2.5
General corporate items:
Interest income and other		.9		4.9
Other components of net periodic pension and OPEB expense		(3.3)		(1.2)
Changes in market value of Valhi common stock held by subsidiaries		.1		(1.1)
General expenses, net		(8.2)		(7.9)
Interest expense		(6.9)		(7.0)
Income (loss) before income taxes	$	83.3	$	(9.8)

Accounts and Other Receivables, Net (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Components of Accounts and Other Receivables


	December 31,		March 31,
	2022		2023

	(In millions)
Trade accounts receivable:
Kronos	$	220.3	$	261.2
CompX		17.9		18.8
BMI/LandWell		2.3		1.7
VAT and other receivables		35.4		35.6
Refundable income taxes		8.0		4.3
Receivables from affiliates:
Louisiana Pigment Company, L.P. ("LPC")		—		10.4
Contran trade items		.2		.6
Other		2.7		1.1
Allowance for doubtful accounts		(4.9)		(4.9)
Total	$	281.9	$	328.8

Inventories, Net (Tables)

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories, Net


	December 31,		March 31,
	2022		2023

	(In millions)
Raw materials:
Chemicals	$	145.3	$	158.9
Component products		6.2		6.0
Total raw materials		151.5		164.9
Work in process:
Chemicals		32.0		36.7
Component products		20.0		19.4
Total in-process products		52.0		56.1
Finished products:
Chemicals		350.7		334.5
Component products		5.1		4.9
Total finished products		355.8		339.4
Supplies (chemicals)		81.5		83.4
Total	$	640.8	$	643.8

Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Schedule of Marketable Securities


			Cost or
			amortized		Unrealized
	Market value		cost		loss, net

	(In millions)
December 31, 2022:
Current assets	$	75.1	$	75.7	$	(.6)

Noncurrent assets	$	1.2	$	1.2	$	—

March 31, 2023:
Current assets	$	101.0	$	101.5	$	(.5)

Noncurrent assets	$	1.6	$	1.6	$	—

Other Assets (Tables)

3 Months Ended

Mar. 31, 2023

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets


	December 31,		March 31,
	2022		2023

	(In millions)
Other noncurrent assets:
Restricted cash and cash equivalents	$	37.2	$	30.9
Note receivables - OPA		49.3		46.5
Land held for development		29.7		29.6
Operating lease right-of-use assets		21.5		21.3
IBNR receivables		16.8		15.4
Pension asset		9.3		9.8
Other		24.3		24.8
Total	$	188.1	$	178.3

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

3 Months Ended

Mar. 31, 2023

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

Other Assets


	December 31,		March 31,
	2022		2023

	(In millions)
Other noncurrent assets:
Restricted cash and cash equivalents	$	37.2	$	30.9
Note receivables - OPA		49.3		46.5
Land held for development		29.7		29.6
Operating lease right-of-use assets		21.5		21.3
IBNR receivables		16.8		15.4
Pension asset		9.3		9.8
Other		24.3		24.8
Total	$	188.1	$	178.3

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt


	December 31,		March 31,
	2022		2023

	(In millions)
Valhi:
Contran credit facility	$	121.4	$	114.2
Subsidiary debt:
Kronos:
Senior Notes		424.1		433.5
LandWell:
Note payable to Western Alliance Business Trust		12.9		12.9
Other		1.1		.9
Total subsidiary debt		438.1		447.3
Total debt		559.5		561.5
Less current maturities		1.8		1.6
Total long-term debt	$	557.7	$	559.9

- 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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-Paragraph 1
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-Subparagraph (SX 210.12-04(a))
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+ Details

Accounts Payable and Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Payables And Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities


	December 31,		March 31,
	2022		2023

	(In millions)
Accounts payable:
Kronos	$	177.2	$	144.6
CompX		3.5		3.9
BMI/LandWell		18.7		8.1
Total		199.4		156.6
Payables to affiliates:
LPC		17.1		19.0
Contran - income taxes		5.8		3.1
Deferred income		110.7		100.1
Employee benefits		34.4		28.9
Accrued litigation settlement		11.8		11.9
Accrued sales discounts and rebates		25.6		8.3
Operating lease liabilities		3.8		3.7
Environmental remediation and related costs		3.8		2.9
Interest		4.9		1.1
Other		60.4		52.2
Total	$	477.7	$	387.8

Other Noncurrent Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Noncurrent Liabilities


	December 31,		March 31,
	2022		2023

	(In millions)
Accrued development costs	$	48.1	$	45.8
Accrued litigation settlement		27.4		27.6
Deferred income		25.9		22.0
Insurance claims and expenses		18.7		17.2
Operating lease liabilities		17.4		17.2
Other postretirement benefits		7.1		7.0
Employee benefits		4.8		4.9
Reserve for uncertain tax positions		.3		.3
Other		6.7		7.1
Total	$	156.4	$	149.1

Revenue - Disaggregation of Sales (Tables)

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Schedule of Disaggregates of Net Sales


	Three months ended
	March 31,
	2022		2023

	(In millions)
Net sales - point of origin:
United States	$	326.4	$	255.8
Germany		276.5		186.0
Canada		96.4		90.9
Belgium		92.8		68.8
Norway		78.4		71.9
Eliminations		(307.6)		(247.1)
Total	$	562.9	$	426.3

Net sales - point of destination:
Europe	$	269.5	$	201.1
North America		179.9		148.6
Other		113.5		76.6
Total	$	562.9	$	426.3

The following table disaggregates the net sales of our Component Products and Real Estate Management and Development Segments by major product line.


	Three months ended
	March 31,
	2022		2023

	(In millions)
Component Products:
Net sales:
Security products	$	29.6	$	27.4
Marine components		12.5		13.8
Total	$	42.1	$	41.2

Real Estate Management and Development:
Net sales:
Land sales	$	22.2	$	24.9
Utility and other		.3		.3
Water delivery		1.5		—
Total	$	24.0	$	25.2

Defined contribution and defined benefit retirement (Tables)

3 Months Ended

Mar. 31, 2023

Defined Benefit Pension Plans

Components of Net Periodic Defined Benefit Cost

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


	Three months ended
	March 31,
	2022		2023

	(In millions)
Service cost	$	3.0	$	1.6
Interest cost		3.2		5.6
Expected return on plan assets		(3.5)		(5.2)
Recognized net actuarial losses		3.8		.9
Total	$	6.5	$	2.9

Other Income, Net (Tables)

3 Months Ended

Mar. 31, 2023

Other Income And Expenses [Abstract]

Schedule of Components of Other Income


	Three months ended
	March 31,
	2022		2023

	(In millions)
Interest income and other:
Interest and dividends	$	1.1	$	4.8
Securities transactions, net		(.2)		.1
Total		.9		4.9
Currency transactions, net		(1.5)		5.4
Insurance recoveries		—		1.7
Other, net		.6		1.1
Total	$	—	$	13.1

Income taxes (Tables)

3 Months Ended

Mar. 31, 2023

Income taxes Disclosure [Abstract]

Component of Income Taxes Expenses


	Three months ended
	March 31,
	2022		2023

	(In millions)
Expected tax expense (benefit) at U.S. federal statutory income tax rate of 21%	$	17.5	$	(2.1)
Non-U.S. tax rates		2.1		—
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. tax group companies		(.9)		.4
Valuation allowance		.6		(.9)
Global intangible low-tax income, net		.7		(1.5)
Adjustment to the reserve for uncertain tax positions, net		(.7)		(1.4)
Adjustment of prior year taxes, net		—		(.4)
Nondeductible expenses		.4		(.5)
U.S. state income taxes and other, net		.2		.3
Income tax expense (benefit)	$	19.9	$	(6.1)

Comprehensive provision for income taxes allocable to:
Net income (loss)	$	19.9	$	(6.1)
Other comprehensive income (loss):
Currency translation		.7		(.8)
Pension plans		1.4		.3
Other		.2		(.2)
Total	$	22.2	$	(6.8)

Noncontrolling Interest in Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2023

Noncontrolling Interest [Abstract]

Noncontrolling Interest in Net Assets of Subsidiaries


	December 31,		March 31,
	2022		2023

	(In millions)
Noncontrolling interest in net assets:
Kronos Worldwide	$	239.3	$	230.6
NL Industries		79.0		77.0
CompX International		20.6		21.0
BMI		6.9		8.6
LandWell		2.4		5.2
Total	$	348.2	$	342.4

Schedule of Noncontrolling Interest in Net Income of Subsidiaries

Valhi Stockholder's Equity (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Loss (Loss)


	Three months ended
	March 31,
	2022		2023

	(In millions)
Accumulated other comprehensive income (loss) (net of tax and noncontrolling interest):
Marketable securities:
Balance at beginning of period	$	1.7	$	1.6
Other comprehensive income:
Unrealized gain arising during the period		—		—
Balance at end of period	$	1.7	$	1.6
Currency translation:
Balance at beginning of period	$	(72.2)	$	(91.5)
Other comprehensive gain (loss) arising during the period		4.2		(4.5)
Balance at end of period	$	(68.0)	$	(96.0)
Defined benefit pension plans:
Balance at beginning of period	$	(120.9)	$	(55.0)
Other comprehensive income:
Amortization of prior service cost and net losses included in net periodic pension cost		1.8		.6
Balance at end of period	$	(119.1)	$	(54.4)
OPEB plans:
Balance at beginning of period	$	.1	$	1.0
Other comprehensive income:
Amortization of prior service credit and net losses included in net periodic OPEB cost		(.1)		(.2)
Balance at end of period	$	—	$	.8
Total accumulated other comprehensive loss:
Balance at beginning of period	$	(191.3)	$	(143.9)
Other comprehensive income (loss)		5.9		(4.1)
Balance at end of period	$	(185.4)	$	(148.0)

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2023

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 the first three months of 2023.


	Amount
	(In millions)

Balance at the beginning of the period	$	97.3
Additions charged to expense, net		—
Payments, net		(1.0)
Balance at the end of the period	$	96.3
Amounts recognized in the Condensed Consolidated Balance Sheet at the end of the period:
Current liabilities	$	2.9
Noncurrent liabilities		93.4
Total	$	96.3

Fair Value Measurements and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Financial Instruments not Carried at Fair Value

See Note 5 for amounts related to our marketable securities.

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure:

December 31, 2022

March 31, 2023

Carrying

Fair

Carrying

Fair

amount

value

amount

value

(In millions)

Cash, cash equivalents and restricted cash equivalents

562.0

376.2

Long-term debt:

Kronos Senior Notes

424.1

374.2

433.5

389.4

Valhi credit facility with Contran

121.4

114.2

LandWell bank note payable

12.9

12.9

Summary of significant accounting policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basis Of Presentation And Significant Accounting Policies [Line Items]
Shipping and handling costs	$ 438.6	$ 458.3
Chemicals
Basis Of Presentation And Significant Accounting Policies [Line Items]
Shipping and handling costs	$ 395.8	$ 413.9
Contran \| Valhi Incorporation
Basis Of Presentation And Significant Accounting Policies [Line Items]
Parent company ownership interest	92.00%

Business and geographic segments - Holding Percentage of Subsidiaries (Detail)	Mar. 31, 2023
Chemicals
Segment Reporting Information [Line Items]
Controlling interest in subsidiary	81.00%
Component Products
Segment Reporting Information [Line Items]
Controlling interest in subsidiary	87.00%
Real Estate Management And Development \| BMI
Segment Reporting Information [Line Items]
Controlling interest in subsidiary	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	3 Months Ended
	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Insurance recoveries	$ 1.7
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	31.00%
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
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 492.7	$ 629.0
Cost of sales	438.6	458.3
Gross margin	54.1	170.7
Operating income (loss)	2.5	100.7
Interest income and other	4.9	0.9
Insurance recoveries	1.7
Changes in market value of Valhi common stock held by subsidiaries	(1.1)	0.1
Other components of net periodic pension and OPEB expense	(1.2)	(3.3)
General expenses, net	(7.9)	(8.2)
Interest expense	(7.0)	(6.9)
Income from continuing operations before income taxes	(9.8)	83.3
Depreciation and amortization	14.3	14.8
Capital expenditures	16.7	16.2
Chemicals
Segment Reporting Information [Line Items]
Net sales	426.3	562.9
Cost of sales	395.8	413.9
Gross margin	30.5	149.0
Operating income (loss)	(15.1)	86.4
Insurance recoveries	1.7
Component Products
Segment Reporting Information [Line Items]
Net sales	41.2	42.1
Cost of sales	28.5	30.0
Gross margin	12.7	12.1
Operating income (loss)	7.0	6.3
Real Estate Management And Development
Segment Reporting Information [Line Items]
Net sales	25.2	24.0
Cost of sales	14.3	14.4
Gross margin	10.9	9.6
Operating income (loss)	$ 10.6	$ 8.0

Accounts and Other Receivables, Net - Components of Accounts and Other Receivables (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Trade accounts receivable:
VAT and other receivables	$ 35.6	$ 35.4
Refundable income taxes	4.3	8.0
Allowance for doubtful accounts	(4.9)	(4.9)
Total	328.8	281.9
Trade Accounts Receivable \| Kronos Worldwide, Inc.
Trade accounts receivable:
Accounts receivable	261.2	220.3
Trade Accounts Receivable \| CompX
Trade accounts receivable:
Accounts receivable	18.8	17.9
Trade Accounts Receivable \| BMI/LandWell
Trade accounts receivable:
Accounts receivable	1.7	2.3
Louisiana Pigment Company, L.P. ("LPC")
Trade accounts receivable:
Receivables from affiliates	10.4
Contran \| Trade Items
Trade accounts receivable:
Receivables from affiliates	0.6	0.2
Other \| Trade Items
Trade accounts receivable:
Receivables from affiliates	$ 1.1	$ 2.7

Business Combinations, Dispositions and Related Transactions - Additional Information (Detail) - Kronos - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Business Combinations Discontinued Operations And Related Transactions [Line Items]
Shares available for purchase	1,200,000
Shares acquired	159,796	73,881
Shares acquired, value	$ 1.4	$ 1.1

Inventories, Net - Inventories, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Raw materials	$ 164.9	$ 151.5
Work in process	56.1	52.0
Finished products	339.4	355.8
Supplies (chemicals)	83.4	81.5
Total	643.8	640.8
Chemicals
Inventory [Line Items]
Raw materials	158.9	145.3
Work in process	36.7	32.0
Finished products	334.5	350.7
Component Products
Inventory [Line Items]
Raw materials	6.0	6.2
Work in process	19.4	20.0
Finished products	$ 4.9	$ 5.1

Marketable Securities - Schedule of Marketable Securities (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Market value, available for sale securities, current	$ 101.0	$ 75.1
Market value, available for sale securities, noncurrent	1.6	1.2
Non Current Assets
Schedule Of Available For Sale Securities [Line Items]
Market value, available for sale securities, noncurrent	1.6	1.2
Cost or amortized cost	1.6	1.2
Current Assets
Schedule Of Available For Sale Securities [Line Items]
Market value, available for sale securities, current	101.0	75.1
Cost or amortized cost	101.5	75.7
Unrealized loss, net	$ (0.5)	$ (0.6)

Marketable Securities - Schedule of Marketable Securities and Fair Value Measurements (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Marketable securities, current	$ 101.0	$ 75.1
Marketable securities, noncurrent	$ 1.6	$ 1.2

Other Assets - Other Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other noncurrent assets:
Note receivables - OPA	$ 46.5	$ 49.3
Restricted cash and cash equivalents	30.9	37.2
Land held for development	29.6	29.7
Operating lease right-of-use assets	21.3	21.5
IBNR receivables	15.4	16.8
Pension asset	9.8	9.3
Marketable securities	1.6	1.2
Other	24.8	24.3
Total	$ 178.3	$ 188.1

Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Long-term debt
Total debt	$ 561.5	$ 559.5
Less current maturities	1.6	1.8
Total long-term debt	559.9	557.7
VALHI, INC. \| Contran Credit Facility
Long-term debt
Total debt	114.2	121.4
Kronos Worldwide, Inc. \| 3.75% Senior Secured Notes due September 15, 2025 \| Kronos International, Inc
Long-term debt
Total debt	433.5	424.1
LandWell \| Unsecured Debt \| Western Alliance Bank
Long-term debt
Total debt	12.9	12.9
Other Subsidiary \| Other
Long-term debt
Total debt	0.9	1.1
Subsidiary
Long-term debt
Total debt	$ 447.3	$ 438.1

Long-Term Debt - Valhi Contran Credit Facility - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 60,800
Debt instrument, Interest rate at period end	9.00%
Debt instrument, Interest rate during period	8.69%
VALHI, INC. \| Contran Credit Facility
Debt Instrument [Line Items]
Borrowings of credit facility	$ 0
Repayments of credit facility	$ 7,200

Long-Term Debt - Kronos Senior Secured Notes - Additional Information (Detail) - Kronos Worldwide, Inc. - 3.75% Senior Secured Notes due September 15, 2025 - Kronos International, Inc € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 EUR (€)
Debt Instrument [Line Items]
Debt instrument interest rate	3.75%	3.75%
Debt instrument maturity date	Sep. 15, 2025
Debt instrument principal amount \| €		€ 400
Unamortized debt issuance costs \| $	$ 2.2

Long-Term Debt - Revolving Credit Facility - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Line Of Credit Facility [Line Items]
Line of credit maximum borrowing capacity	$ 60,800
Kronos Worldwide, Inc. \| Global Revolver Credit Facility
Line Of Credit Facility [Line Items]
Line of credit maximum borrowing capacity	225,000
Borrowings on credit facilities	0
Amount available for borrowing	$ 225,000

Long-Term Debt - Notes Payable to BMI - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Disclosure [Abstract]
Repayment of note payable	$ 7.4	$ 5.9

Long-Term Debt - Aggregate Maturities of Long-Term Debt (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Disclosure Longterm Debt Aggregate Maturities Of Long Term Debt [Abstract]
Total debt	$ 561.5	$ 559.5

Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accounts payable:
Accounts payable	$ 156.6	$ 199.4
Current accrued liabilities:
Deferred income	100.1	110.7
Employee benefits	28.9	34.4
Accrued sales discounts and rebates	8.3	25.6
Litigation settlement	11.9	11.8
Interest	1.1	4.9
Operating lease liabilities	$ 3.7	3.8
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total
Environmental remediation and related costs	$ 2.9	3.8
Other	52.2	60.4
Total	387.8	477.7
Noncurrent accrued liabilities:
Accrued development costs	45.8	48.1
Deferred income	22.0	25.9
Insurance claims and expenses	17.2	18.7
Operating lease liabilities	$ 17.2	$ 17.4
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total	Total
Other postretirement benefits	$ 7.0	$ 7.1
Employee benefits	4.9	4.8
Reserve for uncertain tax positions	0.3	0.3
Other	7.1	6.7
Total	149.1	156.4
Kronos Worldwide, Inc.
Accounts payable:
Accounts payable	144.6	177.2
CompX
Accounts payable:
Accounts payable	3.9	3.5
BMI/LandWell
Accounts payable:
Accounts payable	8.1	18.7
Contran \| Income Taxes Payable
Current payables to affiliates:
Payable to affiliates	3.1	5.8
LPC
Current payables to affiliates:
Payable to affiliates	$ 19.0	$ 17.1

Other Noncurrent Liabilities - Other Noncurrent Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Accrued development costs	$ 45.8	$ 48.1
Deferred income	22.0	25.9
Long-term litigation settlement	27.6	27.4
Insurance claims and expenses	17.2	18.7
Operating lease liabilities	$ 17.2	$ 17.4
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total	Total
Other postretirement benefits	$ 7.0	$ 7.1
Employee benefits	4.9	4.8
Reserve for uncertain tax positions	0.3	0.3
Other	7.1	6.7
Total	$ 149.1	$ 156.4

Revenue - Disaggregation of Sales - Schedule of Disaggregates of Net Sales of our Chemicals Segment (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 492.7	$ 629.0
Chemicals
Disaggregation Of Revenue [Line Items]
Net sales	426.3	562.9
Point of Origin \| Chemicals
Disaggregation Of Revenue [Line Items]
Net sales	426.3	562.9
Point of Origin \| Chemicals \| United States
Disaggregation Of Revenue [Line Items]
Net sales	255.8	326.4
Point of Origin \| Chemicals \| Germany
Disaggregation Of Revenue [Line Items]
Net sales	186.0	276.5
Point of Origin \| Chemicals \| Canada
Disaggregation Of Revenue [Line Items]
Net sales	90.9	96.4
Point of Origin \| Chemicals \| Belgium
Disaggregation Of Revenue [Line Items]
Net sales	68.8	92.8
Point of Origin \| Chemicals \| Norway
Disaggregation Of Revenue [Line Items]
Net sales	71.9	78.4
Point of Origin \| Chemicals \| Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	(247.1)	(307.6)
Point of Destination \| Chemicals
Disaggregation Of Revenue [Line Items]
Net sales	426.3	562.9
Point of Destination \| Chemicals \| Europe
Disaggregation Of Revenue [Line Items]
Net sales	201.1	269.5
Point of Destination \| Chemicals \| North America
Disaggregation Of Revenue [Line Items]
Net sales	148.6	179.9
Point of Destination \| Chemicals \| Other
Disaggregation Of Revenue [Line Items]
Net sales	$ 76.6	$ 113.5

Revenue - 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
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 492.7	$ 629.0
Component Products
Disaggregation Of Revenue [Line Items]
Net sales	41.2	42.1
Component Products \| Security Products
Disaggregation Of Revenue [Line Items]
Net sales	27.4	29.6
Component Products \| Marine Components
Disaggregation Of Revenue [Line Items]
Net sales	13.8	12.5
Real Estate Management And Development
Disaggregation Of Revenue [Line Items]
Net sales	25.2	24.0
Real Estate Management And Development \| Land Sales
Disaggregation Of Revenue [Line Items]
Net sales	24.9	22.2
Real Estate Management And Development \| Water Delivery
Disaggregation Of Revenue [Line Items]
Net sales		1.5
Real Estate Management And Development \| Utility and Other
Disaggregation Of Revenue [Line Items]
Net sales	$ 0.3	$ 0.3

- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Defined Benefit Pension Plans - Additional Information (Detail) $ in Millions	Mar. 31, 2023 USD ($)
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution	$ 18

Defined Benefit Pension Plans - Components of Net Periodic Defined Benefit Pension Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Compensation And Retirement Disclosure [Abstract]
Service cost	$ 1.6	$ 3.0
Interest cost	5.6	3.2
Expected return on plan assets	(5.2)	(3.5)
Recognized actuarial losses	0.9	3.8
Total	$ 2.9	$ 6.5

Other Income, Net - Schedule of Components of Other Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income and other:
Interest and dividends	$ 4.8	$ 1.1
Securities transactions, net	0.1	(0.2)
Total	4.9	0.9
Currency transactions, net	5.4	(1.5)
Insurance recoveries	1.7
Other, net	1.1	$ 0.6
Total	$ 13.1

Other Income, Net - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Income Statement [Abstract]
Insurance recoveries	$ 1.7

Income taxes - Components of Comprehensive Provision for Income Taxes Allocation (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Income Tax [Line Items]
Income from continuing operations before income taxes	$ (9.8)	$ 83.3
Expected tax expense, at U.S. federal statutory income tax rate of 21%	(2.1)	17.5
Non-U.S. tax rates		2.1
Incremental net tax benefit on earnings and losses of U.S. and non-U.S. tax group companies	0.4	(0.9)
Valuation allowance	(0.9)	0.6
Global intangible low-tax income, net	(1.5)	0.7
U.S. state income taxes and other, net	0.3	0.2
Adjustment to the reserve for uncertain tax positions, net	(1.4)	(0.7)
Adjustment of prior year taxes, net	(0.4)
Nondeductible expenses	(0.5)	0.4
Income tax expense	(6.1)	19.9
Comprehensive provision for income taxes allocable to:
Net income	(6.1)	19.9
Other comprehensive income (loss):
Currency translation	(0.8)	0.7
Other	(0.2)	0.2
Total	(6.8)	22.2
Pension Plans
Other comprehensive income (loss):
Defined benefit plans	$ 0.3	$ 1.4

Income Taxes - Components of Comprehensive Provision for Income Taxes Allocation (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2023
Income taxes Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%

Income taxes - Component of Income Taxes Expenses (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Deferred income taxes (benefit):
Income tax expense	$ (6.1)	$ 19.9

- Definition

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

+ References + Details

Income taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Income taxes Disclosure [Abstract]
Income tax expense	$ (6.1)	$ 19.9
Deferred income taxes	$ 64.1		$ 63.5

- Definition

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

+ References + Details

Income taxes - Components of Net Deferred Tax Asset (Liability) (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Tax effect of temporary differences related to:
Net noncurrent deferred tax asset (liability)	$ 42.6	$ 40.5
Tax effect of temporary differences related to:
Net noncurrent deferred tax asset (liability)	$ (64.1)	$ (63.5)

Income taxes - Changes in Uncertain Tax Positions (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Unrecognized tax benefits:
DeferredIncomeTaxExpenseBenefitNonCash	$ 1.0	$ 1.1
Lapse due to applicable statute of limitations	$ (0.2)

Noncontrolling Interest in Subsidiaries - Noncontrolling Interest in Net Assets of Subsidiaries (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	$ 342.4	$ 348.2
Kronos Worldwide, Inc.
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	230.6	239.3
NL Industries
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	77.0	79.0
CompX International
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	21.0	20.6
BMI
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	8.6	6.9
LandWell
Noncontrolling interest in net assets:
Noncontrolling interest in subsidiaries	$ 5.2	$ 2.4

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
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+ Details

Noncontrolling Interest in Subsidiaries - Schedule of Noncontrolling Interest in Net Income of Subsidiaries (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Noncontrolling interest in net income of subsidiaries:
Noncontrolling interest in net income of subsidiaries	$ 1.2	$ 18.0
Kronos Worldwide, Inc.
Noncontrolling interest in net income of subsidiaries:
Noncontrolling interest in net income of subsidiaries	(3.0)	11.1
NL
Noncontrolling interest in net income of subsidiaries:
Noncontrolling interest in net income of subsidiaries	(1.1)	3.2
CompX
Noncontrolling interest in net income of subsidiaries:
Noncontrolling interest in net income of subsidiaries	0.8	0.6
BMI
Noncontrolling interest in net income of subsidiaries:
Noncontrolling interest in net income of subsidiaries	1.7	1.2
LandWell
Noncontrolling interest in net income of subsidiaries:
Noncontrolling interest in net income of subsidiaries	$ 2.8	$ 1.9

Valhi Stockholders' Equity - Additional Information (Detail) shares in Millions	Mar. 31, 2023 shares
Kronos
Schedule Of Stockholders Equity [Line Items]
Shares available for purchase	1.2

Valhi Stockholders' Equity - Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	$ 958.6
Balance at end of period	946.4
Marketable Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	1.6	$ 1.7
Balance at end of period	1.6	1.7
Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(91.5)	(72.2)
Other comprehensive income	(4.5)	4.2
Balance at end of period	(96.0)	(68.0)
Accumulated Defined Benefit Plans Adjustment \| Defined Benefit Pension Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(55.0)	(120.9)
Other comprehensive income	0.6	1.8
Balance at end of period	(54.4)	(119.1)
Accumulated Defined Benefit Plans Adjustment \| OPEB
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	1.0	0.1
Other comprehensive income	(0.2)	(0.1)
Balance at end of period	0.8
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(143.9)	(191.3)
Other comprehensive income	(4.1)	5.9
Balance at end of period	$ (148.0)	$ (185.4)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Stockholders' Equity - Additional Information (Detail) - Kronos Worldwide, Inc. - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Stockholders Equity [Line Items]
Shares acquired	159,796	73,881
Shares acquired, value	$ 1.4	$ 1.1
Shares available for purchase	1,200,000

Commitments and Contingencies - Lead Pigment Litigation-NL and Environmental Matters and Litigation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 USD ($) case site	Dec. 31, 2022 USD ($)
Commitments And Contingent Liabilities [Line Items]
Litigation settlement	$ 11,900,000	$ 11,800,000
Litigation settlement net present value	27,600,000	27,400,000
Accrual for reasonably estimable environmental remediation and related matters	96,300,000	$ 97,300,000
Other Environmental Cleanup Matters
Commitments And Contingent Liabilities [Line Items]
Accrual for reasonably estimable environmental remediation and related matters	4,000,000
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	$ 92,000,000
Number of sites associated with remediation and related costs \| site	33
Number of sites for which NL not currently able to reasonably estimate range of costs \| site	5
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	$ 118,000,000
Lead Pigment Litigation \| NL
Commitments And Contingent Liabilities [Line Items]
Number of cases settled and dismissed and found not liable \| case	100
Period by which loss contingency claims settled and dismissed	30 years
C A Lead Paint Litigation \| NL
Commitments And Contingent Liabilities [Line Items]
Number of annual installment payments	3
Remaining litigation settlement charge due in first installment	$ 12,000,000.0
Remaining litigation settlement charge due in second installment	12,000,000
Remaining litigation settlement charge due in third installment	$ 16,700,000

Commitments and Contingencies - Changes in Accrued Environmental Remediation and Related Costs (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Environmental Remediation Obligations [Abstract]
Balance at the beginning of the period	$ 97.3
Payments, net	(1.0)
Balance at the end of the period	96.3
Amounts recognized in the Consolidated Balance Sheet at the end of the period:
Current liabilities	2.9	$ 3.8
Noncurrent liabilities	93.4	93.5
Total	$ 96.3	$ 97.3

Fair Value Measurements and Financial Instruments - Financial Instruments not Carried at Fair Value (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Reported Value Measurement [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash equivalents	$ 376.2	$ 562.0
Estimate of Fair Value Measurement [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash equivalents	376.2	562.0
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	433.5	424.1
Long term debt, fair value	389.4	374.2
VALHI, INC. \| Contran Credit Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount	114.2	121.4
Long term debt, fair value	114.2	121.4
LandWell \| Bank note payable
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long term debt, carrying amount	12.9	12.9
Long term debt, fair value	$ 12.9	$ 12.9

Fair Value Measurements and Financial Instruments - Additional Information (Detail) - Kronos Worldwide, Inc. - 3.75% Senior Secured Notes due September 15, 2025 - Kronos International, Inc	Mar. 31, 2023 EUR (€)
Financial Instrument At Fair Value [Line Items]
Estimated market price of the notes	€ 918
Principal amount of debt instrument	€ 1,000