0001558370-23-003155 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity Registrant Name	NL INDUSTRIES, INC.
Entity File Number	1-640
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	13-5267260
Entity Filer Category	Accelerated Filer
Entity Address, Address Line One	5430 LBJ Freeway, 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	NL
Entity Small Business	false
Entity Emerging Growth Company	false
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 83.2
Entity Common Stock, Shares Outstanding		48,815,734
Documents Incorporated by Reference [Text Block]	The information required by Part III is incorporated by reference from the Registrant’s definitive proxy statement to be filed with the Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this report.
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Dallas, Texas
Entity Central Index Key	0000072162
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 68,868	$ 147,002
Restricted cash and cash equivalents	2,864	2,765
Marketable securities	70,164
Accounts and other receivables, net	17,870	15,609
Receivables from affiliates	636
Inventories, net	31,290	25,642
Prepaid expenses and other	2,276	2,630
Total current assets	193,968	193,648
Other assets:
Restricted cash and cash equivalents	25,770	25,475
Note receivable from affiliate	13,200	18,700
Marketable securities	26,350	34,435
Investment in Kronos Worldwide, Inc.	292,206	264,803
Goodwill	27,156	27,156
Other assets, net	2,523	2,753
Total other assets	387,205	373,322
Property and equipment:
Land	5,390	5,071
Buildings	23,181	23,161
Equipment	74,113	70,664
Construction in progress	722	2,028
Property and equipment, gross	103,406	100,924
Less accumulated depreciation	74,712	71,742
Net property and equipment	28,694	29,182
Total assets	609,867	596,152
Current liabilities:
Accounts payable	3,537	3,408
Accrued litigation settlement	11,830	11,830
Accrued and other current liabilities	13,388	12,017
Accrued environmental remediation and related costs	2,627	2,643
Payables to affiliates	665	691
Income taxes	5	8
Total current liabilities	32,052	30,597
Noncurrent liabilities:
Long-term debt from affiliate	500	500
Accrued environmental remediation and related costs	89,731	90,297
Long-term litigation settlement	27,427	38,519
Deferred income taxes	50,119	44,056
Accrued pension costs	3,012	3,722
Other	4,279	3,490
Total noncurrent liabilities	175,068	180,584
NL stockholders' equity:
Preferred stock, no par value; 5,000 shares authorized; none issued
Common stock; $.125 par value; 150,000 shares authorized; 48,803 and 48,816 shares issued and outstanding	6,101	6,100
Additional paid-in capital	298,598	299,775
Retained earnings	300,442	297,351
Accumulated other comprehensive loss	(222,991)	(240,756)
Total NL stockholders' equity	382,150	362,470
Noncontrolling interest in subsidiary	20,597	22,501
Total equity	402,747	384,971
Total liabilities and equity	609,867	596,152
Commitments and contingencies (Notes 13 and 16)

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.125	$ 0.125
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	48,803,000	48,816,000
Common stock, shares outstanding	48,803,000	48,816,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 166,562	$ 140,815	$ 114,537
Cost of sales	117,763	98,066	81,689
Gross margin	48,799	42,749	32,848
Selling, general and administrative expense	23,363	22,223	21,031
Other operating income (expense):
Corporate expense	11,705	10,035	9,460
Income from operations	13,731	10,491	2,357
Equity in earnings of Kronos Worldwide, Inc.	31,873	34,323	19,437
Other income (expense):
Interest and dividend income	3,797	1,603	2,599
Marketable equity securities	(8,085)	16,229	(8,671)
Other components of net periodic pension and OPEB cost	(1,134)	(665)	(784)
Interest expense	(941)	(1,142)	(1,350)
Income before income taxes	39,241	60,839	13,588
Income tax expense (benefit)	2,785	7,479	(2,515)
Net income	36,456	53,360	16,103
Noncontrolling interest in net income of subsidiary	2,612	2,172	1,423
Net income attributable to NL stockholders	$ 33,844	$ 51,188	$ 14,680
Amounts attributable to NL stockholders:
Net income (loss) per basic share	$ 0.69	$ 1.05	$ 0.30
Net income (loss) per diluted share	$ 0.69	$ 1.05	$ 0.30
Weighted average shares outstanding - basic	48,811	48,797	48,776
Weighted average shares outstanding - diluted	48,811	48,797	48,776

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 36,456	$ 53,360	$ 16,103
Other comprehensive income (loss), net of tax:
Currency translation	(6,956)	(1,660)	3,268
Defined benefit pension plans	24,611	12,236	(2,447)
Other postretirement benefit plans	110	(143)	(320)
Total other comprehensive income, net	17,765	10,433	501
Comprehensive income	54,221	63,793	16,604
Comprehensive income attributable to noncontrolling interest	2,612	2,172	1,423
Comprehensive income attributable to NL stockholders	$ 51,609	$ 61,621	$ 15,181

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Noncontrolling interest in subsidiary	Total
Beginning Balance at Dec. 31, 2019	$ 6,094	$ 299,102	$ 251,000	$ (251,690)	$ 22,707	$ 327,213
Net income			14,680		1,423	16,103
Other comprehensive income (loss), net of tax				501		501
Issuance of NL common stock	4	96				100
Dividends paid			(7,805)			(7,805)
Dividends paid to noncontrolling interest					(676)	(676)
Other, net		(105)			18	(87)
Ending Balance at Dec. 31, 2020	6,098	299,093	257,875	(251,189)	23,472	335,349
Net income			51,188		2,172	53,360
Other comprehensive income (loss), net of tax				10,433		10,433
Issuance of NL common stock	2	99				101
Dividends paid			(11,712)			(11,712)
Dividends paid to noncontrolling interest					(1,324)	(1,324)
Other, net		583			(1,819)	(1,236)
Ending Balance at Dec. 31, 2021	6,100	299,775	297,351	(240,756)	22,501	384,971
Net income			33,844		2,612	36,456
Other comprehensive income (loss), net of tax				17,765		17,765
Issuance of NL common stock	1	119				120
Dividends paid			(30,753)			(30,753)
Dividends paid to noncontrolling interest					(4,304)	(4,304)
Other, net		(1,296)			(212)	(1,508)
Ending Balance at Dec. 31, 2022	$ 6,101	$ 298,598	$ 300,442	$ (222,991)	$ 20,597	$ 402,747

- Definition

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

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

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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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 36,456	$ 53,360	$ 16,103
Depreciation and amortization	3,977	3,839	3,827
Deferred income taxes	2,291	7,453	(2,530)
Equity in earnings of Kronos Worldwide, Inc.	(31,873)	(34,323)	(19,437)
Dividends received from Kronos Worldwide, Inc.	26,766	25,356	25,356
Marketable equity securities	8,085	(16,229)	8,671
Benefit plan expense greater (less) than cash funding	130	(220)	(792)
Noncash interest expense	908	1,116	1,321
Other, net	(288)	(31)	93
Change in assets and liabilities:
Accounts and other receivables, net	(2,275)	(4,488)	1,121
Inventories, net	(5,832)	(7,479)	(193)
Prepaid expenses and other	353	(991)	(237)
Accounts payable and accrued liabilities	(10,395)	(9,399)	(13,163)
Income taxes	(3)	13	(77)
Accounts with affiliates	(662)	279	193
Accrued environmental remediation and related costs	(582)	(476)	(1,092)
Other noncurrent assets and liabilities, net	(125)	(171)	(141)
Net cash provided by operating activities	26,931	17,609	19,023
Cash flows from investing activities:
Capital expenditures	(3,695)	(4,094)	(1,740)
Note receivable from affiliate:
Collections	29,800	40,600	33,428
Loans	(24,300)	(29,800)	(34,828)
Purchases of marketable securities	(69,959)
Other, net	284	2
Net cash provided by (used in) investing activities	(67,870)	6,708	(3,140)
Cash flows from financing activities:
Dividends paid	(30,753)	(11,712)	(7,805)
Subsidiary treasury stock acquired	(1,744)	(1,311)
Dividends paid to noncontrolling interests in subsidiary	(4,304)	(1,324)	(676)
Net cash used in financing activities	(36,801)	(14,347)	(8,481)
Cash and cash equivalents and restricted cash and cash equivalents - net change from:
Operating, investing and financing activities	(77,740)	9,970	7,402
Balance at beginning of year	175,242	165,272	157,870
Balance at end of year	97,502	175,242	165,272
Supplemental disclosures - cash paid for:
Interest	34	26	27
Income taxes, net	$ 1,140	$ 32	$ 46

Organization and basis of presentation

12 Months Ended

Dec. 31, 2022

Summary of Significant Accounting Policies and Organization and Basis of Presentation

Summary of significant accounting policies

Note 1 - Summary of significant accounting policies:

Nature of our business - NL Industries, Inc. (NYSE: NL) is primarily a holding company. We operate in the component products industry through our majority-owned subsidiary, CompX International Inc. (NYSE American: CIX). We operate in the chemicals industry through our noncontrolling interest in Kronos Worldwide, Inc. (NYSE: KRO).

Organization - At December 31, 2022, Valhi, Inc. (NYSE: VHI) held approximately 83% of our outstanding common stock and a wholly-owned subsidiary of Contran Corporation held approximately 92% of Valhi’s outstanding common stock. 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 by such trusts in the same manner as Ms. Simmons. Such voting rights of Ms. Simmons last through April 22, 2030 and are personal to Ms. Simmons. The remainder of Contran’s outstanding voting stock is held by another trust (the “Family Trust”), which was established for the benefit of Ms. Simmons and her late sister and their children and for which a third-party financial institution serves as trustee. Consequently, at December 31, 2022 Ms. Simmons and the Family Trust may be deemed to control Contran, and therefore may be deemed to indirectly control the wholly-owned subsidiary of Contran, Valhi and us.

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

Management’s estimates - In preparing our financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), we are required to make estimates and assumptions that affect the reported amounts of our assets and liabilities and disclosures of contingent assets and liabilities at each balance sheet date and the reported amounts of our revenues and expenses during each reporting period. Actual results may differ significantly from previously-estimated amounts under different assumptions or conditions.

Principles of consolidation - Our consolidated financial statements include the financial position, results of operations and cash flows of NL and our wholly-owned and majority-owned subsidiaries, including CompX. We account for the 13% of CompX stock we do not own as a noncontrolling interest. We eliminate all material intercompany accounts and balances. Changes in ownership of our wholly-owned and majority-owned subsidiaries are accounted for as equity transactions with no gain or loss recognized on the transaction unless there is a change in control.

Currency translation - The financial statements of Kronos’ non-U.S. subsidiaries are translated to U.S. dollars. The functional currency of Kronos’ non-U.S. subsidiaries is generally the local currency of their country. Accordingly, Kronos translates the assets and liabilities at year-end rates of exchange, while it translates its revenues and expenses at average exchange rates prevailing during the year. We accumulate the resulting translation adjustments in stockholders’ equity as part of accumulated other comprehensive income (loss), net of related deferred income taxes. Kronos recognizes currency transaction gains and losses in income which is reflected as part of our equity in earnings (losses) of Kronos.

Cash and cash equivalents - We classify bank time deposits and highly liquid investments, including government and commercial notes and bills, with original maturities of three months or less as cash equivalents.

Restricted cash and cash equivalents - We classify cash equivalents that have been segregated or are otherwise limited in use as restricted. Such restrictions include cash pledged as collateral with respect to performance obligations or letters of credit required by regulatory agencies for certain environmental remediation sites and cash pledged as collateral

with respect to certain workers compensation liabilities or legal settlements. To the extent the restricted amount relates to a recognized liability, we classify such restricted amount as either a current or noncurrent asset to correspond with the classification of the liability. To the extent the restricted amount does not relate to a recognized liability, we classify restricted cash as a current asset. Restricted cash equivalents classified as a current asset or a noncurrent asset are presented separately on our Consolidated Balance Sheets.

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

●

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

●

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

●

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

We classify all of our marketable securities as available-for-sale. We accumulate unrealized gains and losses on marketable debt securities as part of accumulated other comprehensive income (loss), net of related deferred income taxes. We recognize unrealized gains or losses on the marketable equity securities in Marketable equity securities on our Consolidated Statements of Income. We base realized gains and losses upon the specific identification of the securities sold. See Notes 5 and 11.

Accounts receivable - We provide an allowance for doubtful accounts for known and estimated potential losses arising from sales to customers based on a periodic review of these accounts. See Note 3.

Inventories and cost of sales - We state inventories at the lower of cost or net realizable value. We record a provision for obsolete and slow-moving inventories. We generally base inventory costs for all inventory categories on an average cost that approximates the first-in, first-out method. Inventories include the costs for raw materials, the cost to manufacture the raw materials into finished goods and overhead. Depending on the inventory’s stage of completion, our manufacturing costs can include the costs of packing and finishing, utilities, maintenance and depreciation, shipping and handling, and salaries and benefits associated with our manufacturing process. We allocate fixed manufacturing overhead costs based on normal production capacity. Unallocated overhead costs resulting from periods with abnormally low production levels are charged to expense as incurred. As inventory is sold to third parties, we recognize the cost of sales in the same period that the sale occurs. We periodically review our inventory for estimated obsolescence or instances when inventory is no longer marketable for its intended use and we record any write-down equal to the difference between the cost of inventory and its estimated net realizable value based on assumptions about alternative uses, market conditions and other factors. See Note 4.

Investment in Kronos Worldwide, Inc. - We account for our 31% non-controlling interest in Kronos by the equity method. Distributions received from Kronos are classified for statement of cash flow purposes using the “nature of distribution” approach under ASC Topic 230. See Note 6.

Goodwill - Goodwill represents the excess of cost over fair value of individual net assets acquired in business combinations. Goodwill is not subject to periodic amortization. We evaluate goodwill for impairment annually, or when circumstances indicate the carrying value may not be recoverable. See Note 7.

Leases - We enter into various arrangements (or leases) that convey the rights to use and control identified underlying assets for a period of time in exchange for consideration. We lease various facilities and equipment. From time

to time, we may also enter into an arrangement in which the right to use and control an identified underlying asset is embedded in another type of contract. We determine if an arrangement is a lease (including leases embedded in another type of contract) at inception. All of our leases are classified as operating leases under ASC Topic 842 Leases. Operating leases are not material.

Property and equipment; depreciation expense - We state property and equipment, including purchased computer software for internal use, at cost. We compute depreciation of property and equipment for financial reporting purposes principally by the straight-line method over the estimated useful lives of 15 to 40 years for buildings and 3 to 20 years for equipment and software. We use accelerated depreciation methods for income tax purposes, as permitted. Upon sale or retirement of an asset, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is recognized in income currently. Expenditures for maintenance, repairs and minor renewals are expensed; expenditures for major improvements are capitalized.

We perform impairment tests when events or changes in circumstances indicate the carrying value may not be recoverable. We consider all relevant factors. We perform impairment tests by comparing the estimated future undiscounted cash flows associated with the asset to the asset’s net carrying value to determine whether impairment exists.

Employee benefit plans - Accounting and funding policies for our defined benefit pension and defined contribution retirement plans are described in Note 11. We also provide certain postretirement benefits other than pensions (OPEB), consisting of health care and life insurance benefits, to certain U.S. and Canadian retired employees, which are not material. See Note 12.

Income taxes - We, Valhi and our qualifying subsidiaries are members of Contran’s consolidated U.S. federal income tax group (the Contran Tax Group) and we and certain of our qualifying subsidiaries also file consolidated unitary state income tax returns with Contran in qualifying U.S. jurisdictions. As a member of the Contran Tax Group, we are jointly and severally liable for the federal income tax liability of Contran and the other companies included in the Contran Tax Group for all periods in which we are included in the Contran Tax Group. See Note 16. As a member of the Contran Tax Group, we are party to a tax sharing agreement with Valhi and Contran which provides that we compute our provision for income taxes on a separate-company basis using the tax elections made by Contran. Pursuant to our tax sharing agreement, we make payments to or receive payments from Valhi in amounts that we would have paid to or received from the U.S. Internal Revenue Service or the applicable state tax authority had we not been a member of the Contran Tax Group. We made net payments to Valhi for income taxes of nil in each of 2020 and 2021 and $1.1 million in 2022.

We recognize deferred income tax assets and liabilities for the expected future tax consequences of temporary differences between the income tax and financial reporting carrying amounts of assets and liabilities, including investments in our subsidiaries and affiliates who are not members of the Contran Tax Group and undistributed earnings of non-U.S. subsidiaries which are not deemed to be permanently reinvested. In addition, we recognize deferred income taxes with respect to the excess of the financial reporting carrying amount over the income tax basis of our direct investment in Kronos common stock because the exemption under GAAP to avoid recognition of such deferred income taxes is not available to us. Deferred income tax assets and liabilities for each tax-paying jurisdiction in which we operate are netted and presented as either a noncurrent deferred income tax asset or liability, as applicable. We periodically evaluate our deferred tax assets in the various taxing jurisdictions in which we operate and adjust any related valuation allowance based on the estimate of the amount of such deferred tax assets that we believe does not meet the more-likely-than-not recognition criteria.

We account for the tax effects of a change in tax law as a component of the income tax provision related to continuing operations in the period of enactment, including the tax effects of any deferred income taxes originally established through a financial statement component other than continuing operations (i.e. other comprehensive income). Changes in applicable income tax rates over time as a result of changes in tax law, or times in which a deferred income tax asset valuation allowance is initially recognized in one year and subsequently reversed in a later year, can give rise to “stranded” tax effects in accumulated other comprehensive income in which the net accumulated income tax (benefit) remaining in accumulated other comprehensive income does not correspond to the then-applicable income tax rate applied

to the pre-tax amount which resides in accumulated other comprehensive income. As permitted by GAAP, our accounting policy is to remove any such stranded tax effect remaining in accumulated other comprehensive income, by recognizing an offset to our provision for income taxes related to continuing operations, only at the time when there is no remaining pre-tax amount in accumulated other comprehensive income. For accumulated other comprehensive income related to currency translation, this would occur only upon the sale or complete liquidation of one of our non-U.S. subsidiaries. For defined pension benefit plans and OPEB plans, this would occur whenever one of our subsidiaries which previously sponsored a defined benefit pension or OPEB plan had terminated such a plan and had no future obligation or plan asset associated with such a plan.

We record a reserve for uncertain tax positions for tax positions where we believe it is more-likely-than-not our position will not prevail with the applicable tax authorities. The amount of the benefit associated with our uncertain tax positions that we recognize is limited to the largest amount for which we believe the likelihood of realization is greater than 50%. We accrue penalties and interest on the difference between tax positions taken on our tax returns and the amount of benefit recognized for financial reporting purposes. We classify our reserves for uncertain tax positions in a separate current or noncurrent liability, depending on the nature of the tax position. See Note 13.

Environmental remediation costs - We record liabilities related to environmental remediation obligations when estimated future expenditures are probable and reasonably estimable. We adjust these accruals as further information becomes available to us or as circumstances change. We generally do not discount estimated future expenditures to present value. We recognize any recoveries of remediation costs from other parties when we deem their receipt probable. At December 31, 2021 and 2022, we had not recognized any such receivables for recoveries. We expense any environmental remediation related legal costs as incurred. See Note 16.

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

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

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

Selling, general and administrative expenses; advertising costs; research and development costs - Selling, general and administrative expenses include costs related to marketing, sales, distribution, research and development, and administrative functions such as accounting, treasury and finance, as well as costs for salaries and benefits, travel and entertainment, promotional materials and professional fees. We expense advertising costs and research and development costs as incurred. Advertising and research and development costs were not significant in any year presented.

Corporate expenses - Corporate expenses include environmental, legal and other costs attributable to formerly-owned business units.

Business and Geographic Information

12 Months Ended

Dec. 31, 2022

Segments Geographical Areas [Abstract]

Business and geographic information

Note 2 - Business and geographic information:

We operate in the security products industry and marine components industry through our majority ownership of CompX. CompX manufactures and sells security products including locking mechanisms and other security products for sale to the postal, transportation, office and institutional furniture, cabinetry, tool storage, healthcare and other industries. CompX also manufactures and distributes wake enhancement systems, stainless steel exhaust systems, gauges, throttle controls, trim tabs and related hardware and accessories primarily for ski/wakeboard boats and performance boats.

The following table disaggregates our net sales by reporting unit, which are the categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors (as required by ASC 606).


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Net sales:
Security Products	$	87,863	$	105,124	$	114,519
Marine Components		26,674		35,691		52,043
Total	$	114,537	$	140,815	$	166,562

For geographic information, the point of origin (place of manufacture) for all net sales is the U.S., the point of destination for net sales is based on the location of the customer.


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Net sales - point of destination:
United States	$	107,712	$	129,160	$	153,982
Canada		4,423		8,061		9,227
Mexico		431		589		722
Other		1,971		3,005		2,631
Total	$	114,537	$	140,815	$	166,562

Accounts and other receivables, net

12 Months Ended

Dec. 31, 2022

Accounts and other receivables, net

Accounts and other receivables, net

Note 3 - Accounts and other receivables, net:


	December 31,
	2021		2022

	(In thousands)
Trade receivables - CompX	$	15,616	$	17,910
Accrued insurance recoveries		43		—
Other receivables		20		30
Allowance for doubtful accounts		(70)		(70)
Total	$	15,609	$	17,870

Accrued insurance recoveries are discussed in Note 16.

Inventories, net

12 Months Ended

Dec. 31, 2022

Inventories, net

Inventories, net

Note 4 - Inventories, net:


	December 31,
	2021		2022

	(In thousands)
Raw materials	$	5,042	$	6,245
Work in process		16,767		19,983
Finished products		3,833		5,062
Total	$	25,642	$	31,290

Marketable securities

12 Months Ended

Dec. 31, 2022

Marketable securities

Marketable securities

Note 5 - Marketable securities:

Our current marketable securities are invested in U.S. government treasuries with original maturities ranging in length from 4 months to 12 months. The fair value of our current marketable securities are determined using Level 2 inputs (because although these securities are traded, in many cases the market is not active and the year-end valuation is generally based on the last trade of the year, which may be several days prior to December 31).

Our noncurrent marketable securities consist of investments in the publicly-traded shares of our immediate parent company Valhi, Inc. Our shares of Valhi common stock are accounted for as available-for-sale securities, which are carried at fair value using quoted market prices in active markets and represent a Level 1 input within the fair value hierarchy.


	Fair value			Cost or
	measurement	Market		amortized		Unrealized
	level	value		cost		gain (loss)

		(In thousands)
December 31, 2021
Noncurrent assets
Valhi common stock	1	$	34,435	$	24,347	$	10,088

December 31, 2022
Current assets - fixed income securities	2	$	70,164	$	70,226	$	(62)

Noncurrent assets
Valhi common stock	1	$	26,350	$	24,347	$	2,003

At December 31, 2021 and 2022, we held approximately 1.2 million shares of our immediate parent company, Valhi. See Note 1. The per share quoted market price of Valhi common stock at December 31, 2021 and 2022 was $28.75 and $22.00, respectively.

The Valhi common stock we own is subject to the restrictions on resale pursuant to certain provisions of the SEC Rule 144. In addition, as a majority-owned subsidiary of Valhi we cannot vote our shares of Valhi common stock under Delaware General Corporation Law, but we do receive dividends from Valhi on these shares, when declared and paid.

Investment in Kronos Worldwide, Inc.

12 Months Ended

Dec. 31, 2022

Investment in Kronos Worldwide, Inc.

Investment in Kronos Worldwide, Inc.

Note 6 - Investment in Kronos Worldwide, Inc.:

At December 31, 2021 and 2022, we owned approximately 35.2 million shares of Kronos common stock. The per share quoted market price of Kronos common stock at December 31, 2021 and 2022 was $15.01 and $9.40 per share, respectively, or an aggregate market value of $528.6 million and $331.1 million, respectively. The change in the carrying value of our investment in Kronos during the past three years is summarized below:


	Years ended December 31,
	2020		2021		2022

	(In millions)
Balance at the beginning of the period	$	248.4	$	242.4	$	264.8
Equity in earnings of Kronos		19.4		34.3		31.9
Dividends received from Kronos		(25.4)		(25.4)		(26.8)
Equity in Kronos' other comprehensive income (loss):
Currency translation		4.1		(2.1)		(8.8)
Defined benefit pension plans		(3.7)		15.6		30.9
Other postretirement benefit plans		(.1)		—		—
Other		(.3)		—		.2
Balance at the end of the period	$	242.4	$	264.8	$	292.2

Selected financial information of Kronos is summarized below:


	December 31,
	2021		2022

	(In millions)
Current assets	$	1,258.0	$	1,242.2
Property and equipment, net		503.4		484.5
Investment in TiO₂ joint venture		101.9		112.9
Other noncurrent assets		149.5		94.8
Total assets	$	2,012.8	$	1,934.4

Current liabilities	$	288.8	$	326.7
Long-term debt		449.8		424.1
Accrued pension costs		287.4		128.6
Other noncurrent liabilities		116.6		97.8
Stockholders’ equity		870.2		957.2
Total liabilities and stockholders’ equity	$	2,012.8	$	1,934.4


	Years ended December 31,
	2020		2021		2022

	(In millions)
Net sales	$	1,638.8	$	1,939.4	$	1,930.2
Cost of sales		1,287.6		1,493.2		1,539.1
Income from operations		116.2		187.1		159.6
Income tax expense		16.1		40.5		29.4
Net income		63.9		112.9		104.5

Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

Note 7 - Goodwill:

All of our goodwill is related to our component products operations and was generated from CompX’s acquisitions of certain business units. There have been no changes in the carrying amount of our goodwill during the past three years.

We assign goodwill based on the reporting unit (as that term is defined in ASC Topic 350-20-20 Goodwill) which corresponds to CompX’s security products operations. We test for goodwill impairment at the reporting unit level. In accordance with ASC 350-20-35, we test for goodwill impairment during the third quarter of each year or when circumstances arise that indicate an impairment might be present.

In 2020, 2021 and 2022, our goodwill was tested for impairment only in the third quarter of each year in connection with our annual testing. No impairment was indicated as part of such annual review of goodwill. As permitted by GAAP, during 2020, 2021 and 2022 we used the qualitative assessment of ASC 350-20-35 for our annual impairment test and determined it was not necessary to perform the quantitative goodwill impairment test. Prior to 2020, all of the goodwill related to CompX’s marine components operations (which aggregated $10.1 million) was impaired, and all of the goodwill related to our wholly-owned subsidiary EWI Re, Inc., (EWI) which was formerly an insurance brokerage and risk management services company (which aggregated $6.4 million), was impaired. Our gross goodwill at December 31, 2022 was $43.7 million.

Other assets, net

12 Months Ended

Dec. 31, 2022

Other assets, net

Other assets, net

Note 8 - Other assets, net:


	December 31,
	2021		2022

	(In thousands)
Pension asset	$	1,356	$	1,105
Other		1,397		1,418
Total	$	2,753	$	2,523

Accrued and other current liabilities

12 Months Ended

Dec. 31, 2022

Accrued and other current liabilities

Accrued and other current liabilities

Note 9 - Accrued and other current liabilities:


	December 31,
	2021		2022

	(In thousands)
Employee benefits	$	10,345	$	11,023
Other		1,672		2,365
Total	$	12,017	$	13,388

Long-term debt

12 Months Ended

Dec. 31, 2022

Long-term debt

Long-term debt

Note 10 - Long-term debt:

In November 2016, we entered into a financing transaction with Valhi. Previously, and in contemplation of the financing transaction described herein, we formed NLKW Holding, LLC and capitalized it with 35.2 million shares of the common stock of Kronos held by us.

The financing transaction consisted of two steps. Under the first step, NLKW entered into a $50 million revolving credit facility (the “Valhi Credit Facility”) pursuant to which NLKW can borrow up to $50 million from Valhi (with such commitment amount subject to increase from time to time at Valhi’s sole discretion). Proceeds from any borrowings by NLKW under the Valhi Credit Facility would be available for one or more loans from NLKW to us in accordance with the terms of the second step of the financing transaction: a Back-to-Back Credit Facility, as described below. Outstanding borrowings under the Valhi Credit Facility bear interest at the prime rate plus 1.875% per annum, payable quarterly, with

all amounts due on the maturity date. The maximum principal amount which may be outstanding from time-to-time under the Valhi Credit Facility is limited to 50% of the amount determined by multiplying the number of shares of Kronos common stock pledged by the most recent closing price of such security on the New York Stock Exchange. Borrowings under the Valhi Credit Facility are collateralized by the assets of NLKW (consisting primarily of the shares of Kronos common stock pledged) and 100% of the membership interest in NLKW held by us. The Valhi Credit Facility contains a number of covenants and restrictions which, among other things, restrict NLKW’s ability to incur additional debt, incur liens, and merge or consolidate with, or sell or transfer substantially all of NLKW’s assets to, another entity, and require NLKW to maintain a minimum specified level of consolidated net worth. Upon an event of default, Valhi will be entitled to terminate its commitment to make further loans to NLKW, to declare the outstanding loans (with interest) immediately due and payable, and, in the case of certain insolvency events with respect to NLKW or us, to exercise its rights with respect to the collateral. Such collateral rights include the right to purchase all of the shares of Kronos common stock pledged at a purchase price equal to the aggregate market value of such stock (with such market value determined by an independent third-party valuation provider), less amounts owing to Valhi under the Valhi Credit Facility, with up to 50% of such purchase price being payable by Valhi in the form of an unsecured promissory note bearing interest at the prime rate plus 2.75% per annum, payable quarterly, with all amounts due no later than five years from the date of purchase, and with the remainder of such purchase price payable in cash at the date of purchase.

Contemporaneously with the entering into the Valhi Credit Facility, NLKW entered into a $50 million revolving credit facility (the “Back-to-Back Credit Facility”) with us, pursuant to which we can borrow up to $50 million from NLKW (with such commitment amount subject to increase from time to time at NLKW’s sole discretion). Proceeds from any borrowings under the Back-to-Back Credit Facility would be available for our general corporate purposes, including providing resources to assist us in the resolution of certain claims and contingent liabilities which may be asserted against us. Outstanding borrowings under the Back-to-Back Credit Facility bear interest at the same rate and are payable on the same maturity date as are borrowings by NLKW under the Valhi Credit Facility. Borrowings under the Back-to-Back Credit Facility are on an unsecured basis; however, as a condition thereto, we pledged to Valhi as collateral for the Valhi Credit Facility our 100% membership interest in NLKW. Any outstanding borrowings and interest on such borrowings under the Back-to-Back Credit Facility are eliminated in the preparation of the consolidated financial statements.

In November 2022, NLKW and Valhi entered into a first amendment to the Valhi Credit Facility to extend the latest maturity date (and consequently the latest borrowing date) under the Valhi Credit Facility from December 31, 2023 to December 31, 2030; and NLKW and NL entered into a first amendment to the Back-to-Back Credit Facility to extend the latest maturity date (and consequently the latest borrowing date) under the Back-to-Back Credit Facility from December 31, 2023 to December 31, 2030. The related collateral arrangements remained unchanged by these amendments.

We had outstanding borrowings under the Valhi Credit Facility of $.5 million as of December 31, 2021 and 2022. The interest rate as of December 31, 2022 was 9.4% and the average interest rate for the year then ended was 6.7%. See Note 15. NLKW is in compliance with all of the covenants contained in the Valhi Credit Facility at December 31, 2022.

Employee benefit plans

12 Months Ended

Dec. 31, 2022

Employee benefit plans

Employee benefit plans

Note 11 - Employee benefit plans:

Defined contribution plans - We maintain various defined contribution pension plans. Company contributions are based on matching or other formulas. Defined contribution plan expense approximated $3.0 million in 2020, $3.7 million in 2021 and $3.9 million in 2022.

Defined benefit pension plans - We maintain a defined benefit pension plan in the U.S. We also maintain a plan in the United Kingdom (U.K.) related to a former disposed business unit in the U.K. The benefits under our defined benefit plans are based upon years of service and employee compensation. The plans are closed to new participants and no additional benefits accrue to existing plan participants. Our funding policy is to contribute annually the minimum amount required under ERISA (or equivalent non-U.S.) regulations plus additional amounts as we deem appropriate.

In accordance with applicable U.K. pension regulations, we entered into an agreement in March 2021 for the bulk annuity purchase, or “buy-in” with a specialist insurer of defined benefit pension plans. Following the buy-in, individual

policies will replace the bulk annuity policy in a “buy-out” which is expected to be completed in 2023. The buy-out is expected to be completed with existing plan funds. At the completion of the buy-out we will remove the assets and liabilities of the U.K. pension plan from our Consolidated Financial Statements and a final plan settlement gain or loss (which we are currently unable to estimate) will be included in net periodic pension cost. At December 31, 2022, the U.K. plan had a benefit obligation of $5.8 million, plan assets of $6.9 million and a pension plan asset of $1.1 million was recognized in our Consolidated Balance Sheet.

We expect to contribute approximately $1.2 million to our defined benefit pension plans during 2023. Benefit payments to all plan participants out of plan assets are expected to be the equivalent of:


Years ending December 31,	Amount
	(In thousands)
2023	$	3,441
2024		3,368
2025		3,295
2026		3,237
2027		3,164
Next 5 years		14,426

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


	December 31,
	2021		2022

	(In thousands)
Change in projected benefit obligations (PBO):
Benefit obligations at beginning of the year	$	52,873	$	50,367
Interest cost		947		1,138
Plan settlement		—		(188)
Actuarial (gains) losses		295		(10,777)
Change in currency exchange rates		(73)		(965)
Benefits paid		(3,675)		(3,485)
Benefit obligations at end of the year		50,367		36,090

Change in plan assets:
Fair value of plan assets at beginning of the year		50,260		47,940
Actual return on plan assets		226		(10,263)
Employer contributions		1,169		1,228
Change in currency exchange rates		(40)		(1,294)
Benefits paid		(3,675)		(3,485)
Fair value of plan assets at end of year		47,940		34,126
Funded status	$	(2,427)	$	(1,964)

Amounts recognized in the balance sheet:
Noncurrent pension asset	$	1,356	$	1,105
Accrued pension costs:
Current		(61)		(57)
Noncurrent		(3,722)		(3,012)
Total		(2,427)		(1,964)

Accumulated other comprehensive loss - actuarial losses, net		28,265		27,530
Total	$	25,838	$	25,566

Accumulated benefit obligations (ABO)	$	50,367	$	36,090

The amounts shown in the table above for actuarial (gains) losses at December 31, 2021 and 2022 have not been recognized as components of our periodic defined benefit pension cost as of those dates. These amounts will be recognized as components of our periodic defined benefit cost in future years. These amounts, net of deferred income taxes, are recognized in our accumulated other comprehensive income (loss) at December 31, 2021 and 2022.

The total net underfunded status of our defined benefit pension plans decreased from $2.4 million at December 31, 2021 to $2.0 million at December 31, 2022 due to the change in our PBO exceeding the change in plan assets during 2022. The decrease in our PBO in 2022 was primarily attributable to actuarial gains due to the increase in discount rates from year end 2021. The decrease in our plan assets in 2022 was primarily attributable to negative plan asset returns in 2022.

The table below details the changes in other comprehensive income (loss) during 2020, 2021 and 2022.


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial gain (loss) arising during the year	$	(934)	$	1,618	$	(1,034)
Plan settlement		—		—		104
Amortization of unrecognized net actuarial gain (loss)		1,412		(1,562)		1,664
Total	$	478	$	56	$	734

The components of our net periodic defined benefit pension cost are presented in the table below. The amounts shown below for recognized actuarial losses in 2020, 2021 and 2022, net of deferred income taxes, was recognized as a component of our accumulated other comprehensive income at December 31, 2019, 2020 and 2021, respectively.


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Net periodic pension cost:
Interest cost	$	1,483	$	947	$	1,138
Expected return on plan assets		(1,850)		(1,603)		(1,552)
Plan settlement		—		—		104
Recognized actuarial losses		1,412		1,562		1,664
Total	$	1,045	$	906	$	1,354

Certain information concerning our defined benefit pension plans (including information concerning certain plans for which ABO exceeds the fair value of plan assets as of the indicated date) is presented in the table below.


	December 31,
	2021		2022

	(In thousands)
PBO at end of the year:
U.S. plan	$	40,254	$	30,254
U.K. plan		10,113		5,836
Total	$	50,367	$	36,090
Fair value of plan assets at end of the year:
U.S. plan	$	36,471	$	27,185
U.K. plan		11,469		6,941
Total	$	47,940	$	34,126

Plans for which the ABO exceeds plan assets (only our U.S. plan):
PBO	$	40,254	$	30,254
ABO		40,254		30,254
Fair value of plan assets		36,471		27,185

The weighted-average discount rate assumptions used in determining the actuarial present value of our benefit obligations as of December 31, 2021 and 2022 are 2.3% and 5.1%, respectively. Such weighted-average rates were determined using the projected benefit obligations at each date. Since our plans are closed to new participants and no new additional benefits accrue to existing plan participants, assumptions regarding future compensation levels are not

applicable. Consequently, the accumulated benefit obligations for all of our defined benefit pension plans were equal to the projected benefit obligations at December 31, 2021 and 2022.

The weighted-average rate assumptions used in determining the net periodic pension cost for 2020, 2021 and 2022 are presented in the table below. Such weighted-average discount rates were determined using the projected benefit obligations as of the beginning of each year and the weighted-average long-term return on plan assets was determined using the fair value of plan assets as of the beginning of each year.


	Years ended December 31,
Rate	2020		2021		2022
Discount rate	2.9	%	2.1	%	2.3	%
Long-term rate of return on plan assets	4.2	%	3.3	%	3.3	%

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

In determining the expected long-term rate of return on our U.S. and non-U.S. plan asset assumptions, we consider the long-term asset mix (e.g. equity vs. fixed income) for the assets for each of our plans and the expected long-term rates of return for such asset components. In addition, we receive third-party advice about appropriate long-term rates of return. In the U.S. we currently have a plan asset target allocation of 34% to equity securities, 59% to fixed income securities, and the remainder is allocated to multi-asset strategies. The expected long-term rate of return for such investments is approximately 7%, 5% and 4%, respectively (before plan administrative expenses). Approximately 90% of our U.S. plan assets are invested in funds that are valued at net asset value (NAV) and, in accordance with ASC 820-10, not subject to classification in the fair value hierarchy. The non-U.S. plan assets are invested primarily in insurance contracts and are a Level 3 input.

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

The composition of our pension plan assets by fair value level at December 31, 2021 and 2022 is shown in the table below.


	Fair Value Measurements
			Quoted prices		Significant other		Significant
			in active		observable		unobservable		Assets measured
	Total		markets (Level 1)		inputs (Level 2)		inputs (Level 3)		at NAV

	(In thousands)
December 31, 2021:
U.S.
Equities	$	12,951	$	831	$	—	$	108	$	12,012
Fixed income		21,299		—		—		—		21,299
Cash and other		2,221		1,352		—		—		869
U.K. - Other		11,469		1,324		—		10,145		—
Total	$	47,940	$	3,507	$	—	$	10,253	$	34,180

Fair Value Measurements

Quoted prices

Significant other

Significant

in active

observable

unobservable

Assets measured

Total

markets (Level 1)

inputs (Level 2)

inputs (Level 3)

at NAV

(In thousands)

December 31, 2022:

U.S.

Equities

8,591

694

—

7,897

Fixed income

15,954

149

—

15,805

Cash and other

2,640

1,903

—

693

U.K. - Other

6,941

1,104

—

5,837

—

Total

34,126

3,850

—

5,881

24,395

As noted above, in March 2021 we purchased a bulk annuity for our U.K. pension plan and such annuity is considered a Level 3 asset included with “U.K. – Other” in the table above.

- Definition

The entire disclosure for retirement benefits.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other noncurrent liabilities

12 Months Ended

Dec. 31, 2022

Other noncurrent liabilities

Other noncurrent liabilities

Note 12 - Other noncurrent liabilities:


	December 31,
	2021		2022

	(In thousands)
Reserve for uncertain tax positions	$	1,724	$	2,714
OPEB		787		637
Insurance claims and expenses		632		625
Other		347		303
Total	$	3,490	$	4,279

Our reserve for uncertain tax positions is discussed in Note 13.

Income taxes

12 Months Ended

Dec. 31, 2022

Income taxes

Income taxes

Note 13 - Income taxes:

The provision for income taxes and the difference between such provision for income taxes and the amount that would be expected using the U.S. federal statutory income tax rate are presented below.


	Years ended December 31,
	2020		2021		2022

	(In millions)
Expected tax expense, at U.S. federal statutory income tax rate of 21%	$	2.9	$	12.8	$	8.2
Nontaxable dividends received from Kronos		(5.3)		(5.3)		(5.6)
U.S. state income taxes and other, net		(.1)		—		.2
Income tax expense (benefit)	$	(2.5)	$	7.5	$	2.8

Components of income tax expense (benefit):
Currently payable	$	—	$	—	$	.5
Deferred income tax expense (benefit)		(2.5)		7.5		2.3
Income tax expense (benefit)	$	(2.5)	$	7.5	$	2.8

Comprehensive provision (benefit) for income taxes allocable to:
Net income	$	(2.5)	$	7.5	$	2.8
Additional paid-in capital		(.1)		—		—
Other comprehensive income:
Currency translation		.9		(.4)		(1.8)
Pension plans		(.7)		3.2		6.5
OPEB plans		(.1)		—		.1
Total	$	(2.5)	$	10.3	$	7.6

In accordance with GAAP, we recognize deferred income taxes on our undistributed equity in earnings (losses) of Kronos. Because we and Kronos are part of the same U.S. federal income tax group, any dividends we receive from Kronos are nontaxable to us. Accordingly, we do not recognize and we are not required to pay income taxes on dividends from Kronos. We received aggregate dividends from Kronos of $25.4 million in each of 2020 and 2021 and $26.8 million in 2022. See Note 6.

The components of the net deferred tax liability at December 31, 2021 and 2022 are summarized in the following table.


	December 31,
	2021				2022
	Assets		Liabilities		Assets		Liabilities

	(In millions)
Tax effect of temporary differences related to:
Inventories	$	.5	$	—	$	.4	$	—
Marketable securities		—		(7.0)		—		(5.3)
Property and equipment		—		(2.7)		—		(2.0)
Accrued OPEB costs		.2		—		.2		—
Accrued pension costs		.5		—		.4		—
Accrued employee benefits		1.3		—		1.3		—
Accrued environmental liabilities		26.7		—		24.3		—
Goodwill		—		(1.7)		—		(1.7)
Other accrued liabilities and deductible differences		.2		—		.2		—
Other taxable differences		—		(2.3)		—		(2.4)
Investment in Kronos Worldwide, Inc.		—		(59.8)		—		(65.5)
Adjusted gross deferred tax assets (liabilities)		29.4		(73.5)		26.8		(76.9)
Netting of items by tax jurisdiction		(29.4)		29.4		(26.8)		26.8
Net noncurrent deferred tax liability	$	—	$	(44.1)	$	—	$	(50.1)

At December 31, 2022, we had NOL carryforwards for federal income tax purposes of approximately $21.9 million all of which have an indefinite carryforward period subject to an 80% annual usage limitation. Our deferred tax asset for such NOL carryforward is net of a portion of our uncertain tax positions as discussed below.

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.

At December 31, 2020, 2021, and 2022, the gross amount of our uncertain tax positions (exclusive of the effect of interest and penalties) was $7.3 million, and there was no change in such amount during the past three years. Previously, we made certain pro-rata distributions to our stockholders in the form of Kronos common stock and we recognized a taxable gain related to such distributions. Our uncertain tax positions are attributable to such prior period distribution of Kronos common stock. As discussed in Note 1, we are part of the Contran Tax Group and we have not paid this liability because Contran has not paid the liability to the applicable tax authority. This liability would be payable by Contran to the applicable tax authority only if the shares of Kronos common stock were to be sold or otherwise disposed outside of the Contran Tax Group. At December 31, 2022, $4.6 million of our uncertain tax position is classified as a component of our noncurrent deferred tax liability. If our uncertain tax position at December 31, 2022 was recognized, a benefit of $7.3 million would affect our effective income tax rate. We currently estimate that our unrecognized tax benefits will not change materially during the next twelve months.

We and Contran file income tax returns in U.S. federal and various state and local jurisdictions. Our U.S. income tax returns prior to 2019 are generally considered closed to examination by applicable tax authorities.

Income tax matters related to Kronos

Kronos has substantial net operating loss (NOL) carryforwards in Germany (the equivalent of $414 million for German corporate tax purposes at December 31, 2022) and in Belgium (the equivalent of $13 million for Belgian corporate tax purposes at December 31, 2022). At December 31, 2022, Kronos has concluded that no deferred income tax asset valuation allowance is required to be recognized with respect to such carryforwards, principally because (i) such

carryforwards have an indefinite carryforward period, (ii) Kronos has utilized a portion of such carryforwards during the most recent three-year period and (iii) Kronos currently expects to utilize the remainder of such carryforwards over the long term. However, prior to the complete utilization of such carryforwards, if Kronos were to generate additional losses in its German or Belgian operations for an extended period of time, or if applicable law were to change such that the carryforward period was no longer indefinite, it is possible that Kronos might conclude the benefit of such carryforwards would no longer meet the more-likely-than-not recognition criteria, at which point Kronos would be required to recognize a valuation allowance against some or all of the then-remaining tax benefit associated with the carryforwards.

Prior to the enactment of the 2017 Tax Act, the undistributed earnings of Kronos’ European subsidiaries were deemed to be permanently reinvested (Kronos had not made a similar determination with respect to the undistributed earnings of its Canadian subsidiary). Pursuant to the one-time repatriation tax (Transition Tax) provisions of the 2017 Tax Act which imposed a one-time repatriation tax on post-1986 undistributed earnings, Kronos recognized current income tax expense of $74.5 million and elected to pay such tax over an eight year period beginning in 2018. At December 31, 2022 the balance of its unpaid Transition Tax is $44.7 million, which will be paid in annual installments over the remainder of the eight-year period, which ends in 2025. Of such $44.7 million, $33.5 million is recorded as a noncurrent payable to affiliate (income taxes payable to Valhi) classified as a noncurrent liability in its Consolidated Balance Sheet at December 31, 2022, and $11.2 million is included with its current payable to affiliate (income taxes payable to Valhi) classified as a current liability (a portion of its noncurrent income tax payable to affiliate was reclassified to its current payable to affiliate for the portion of its 2022 Transition Tax installment due within the next twelve months).

On March 27, 2020, the “Coronavirus Aid, Relief and Economic Security (CARES) Act” was signed into law in response to the COVID-19 pandemic. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, modifications to the limitation of business interest for tax years beginning in 2019 and 2020 and technical corrections to tax depreciation methods for qualified improvement property. The 2017 Tax Act limited Kronos’ business interest expense to the sum of its business interest income and 30% of its adjusted taxable income as defined in the Tax Act. Any business interest expense disallowed as a deduction as a result of the limitation may be carried forward indefinitely. Kronos determined its interest expense was limited under these provisions and recorded deferred tax assets for the carryforwards associated with the nondeductible portion of its interest expense. Kronos also concluded that it is required to recognize a valuation allowance for such deferred tax asset under the more-likely-than-not recognition criteria. The CARES Act modification to the business interest provisions increased the business interest limitation from 30% of adjusted taxable income to 50% of adjusted taxable income which increased Kronos’ allowable interest expense deduction for 2019 and 2020. Consequently, in the first quarter of 2020 Kronos recognized a cash tax benefit of $.5 million related to the reversal of the valuation allowance recognized in 2019 for the portion of the disallowed interest expense Kronos did not expect to fully utilize at December 31, 2019 and Kronos has considered such modifications in its 2020 provision for income taxes. The CARES Act provisions expired at the end of 2020, and in 2021 Kronos recognized additional disallowed interest expense and increased the valuation allowance by $2.8 million for the portion of the carryforward Kronos believed did not meet the more-likely-than-not measurement criteria. During 2022, Kronos determined it was able to utilize a portion of the business interest expense carryforward and accordingly it recognized an aggregate non-cash income tax benefit of $3.5 million as a reduction of the valuation allowance.

On August 16, 2022, the Inflation Reduction Act was signed into law. Among other things, this legislation provides for a 15% corporate alternative minimum tax on certain large corporations, imposes a 1% excise tax on qualifying stock buybacks occurring after December 31, 2022, and provides for certain energy-related tax credits. Kronos has evaluated the relevant provisions of the Act and does not expect them to have a material impact on its tax provision.

Tax authorities may in the future examine certain of Kronos’ U.S. and non-U.S. tax returns and may propose tax deficiencies, including penalties and interest. Because of the inherent uncertainties involved in settlement initiatives and court and tax proceedings, Kronos cannot guarantee that these tax matters, if any, will be resolved in Kronos’ favor, and therefore its potential exposure, if any, is also uncertain. Kronos believes it has adequate accruals for additional taxes and related interest expense which could ultimately result from tax examinations. Kronos believes the ultimate disposition of

tax examinations should not have a material adverse effect on its consolidated financial position, results of operations or liquidity.

- 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

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+ Details

Stockholders' equity

12 Months Ended

Dec. 31, 2022

Stockholders' equity

Stockholders' equity

Note 14 - Stockholders’ equity:

Long-term incentive compensation plan - We have a long-term incentive plan that provides for the award of stock to our board of directors, up to a maximum of 200,000 shares. We awarded 33,250 shares in 2020, 13,750 shares in 2021 and 15,000 shares in 2022 under this plan. At December 31, 2022, 51,150 shares were available for future grants.

Long-term incentive compensation plans of subsidiaries and affiliates - CompX and Kronos each have a share-based incentive compensation plan pursuant to which an aggregate of up to 200,000 shares of their common stock can be awarded to members of their board of directors. At December 31, 2022, Kronos had 111,800 shares available for award and CompX had 131,050 shares available for award.

Dividends - During 2020, 2021 and 2022 our board of directors approved and we paid quarterly dividends of $.04, $.06 and $.07, respectively, per share to stockholders aggregating $7.8 million, $11.7 million and $13.7 million, respectively. In addition, our board of directors declared a special dividend on our common stock which totaled $17.1 million ($.35 per share) that we paid on August 31, 2022. The declaration and payment of future dividends, and the amount thereof, is discretionary and is dependent upon our financial condition, cash requirements, contractual obligations and restrictions and other factors deemed relevant by our board of directors. The amount and timing of past dividends is not necessarily indicative of the amount or timing of any future dividends which might be paid. There are currently no contractual restrictions on the amount of dividends which we may pay.

Accumulated other comprehensive loss - Changes in accumulated other comprehensive loss attributable to NL stockholders, including amounts resulting from our investment in Kronos Worldwide (see Note 6), are presented in the table below.


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Accumulated other comprehensive loss, net of tax:
Currency translation:
Balance at beginning of period	$	(172,843)	$	(169,575)	$	(171,235)
Other comprehensive income (loss)		3,268		(1,660)		(6,956)
Balance at end of period	$	(169,575)	$	(171,235)	$	(178,191)

Defined benefit pension plans:
Balance at beginning of period	$	(78,257)	$	(80,704)	$	(68,468)
Other comprehensive income (loss):
Amortization of prior service cost and net losses included in net periodic pension cost		4,330		4,813		3,592
Net actuarial gain (loss) arising during the year		(6,777)		7,423		20,881
Plan settlement		—		—		138
Balance at end of period	$	(80,704)	$	(68,468)	$	(43,857)

OPEB plans and other:
Balance at beginning of period	$	(590)	$	(910)	$	(1,053)
Other comprehensive income (loss):
Amortization of net gain included in net periodic OPEB cost		(320)		(143)		(369)
Net actuarial gain arising during the year		—		—		529
Change in value of debt securities		—		—		(50)
Balance at end of period	$	(910)	$	(1,053)	$	(943)

Total accumulated other comprehensive loss:
Balance at beginning of period	$	(251,690)	$	(251,189)	$	(240,756)
Other comprehensive income		501		10,433		17,765
Balance at end of period	$	(251,189)	$	(240,756)	$	(222,991)

See Note 5 for further discussion on our marketable securities and Note 11 for amounts related to our defined benefit pension plans.

Other – During 2022, we purchased 2,000 shares of our common stock from Kronos for a nominal amount in a private transaction that was approved in advance by our independent directors. We cancelled these treasury shares and allocated their cost to common stock at par value and additional paid-in capital.

During 2022, CompX acquired 78,900 shares of its Class A common stock for an aggregate amount of approximately $1.7 million under prior repurchase authorizations. Of these shares, 70,000 shares were purchased in a market transaction, and 8,900 shares were purchased from two of its affiliates in two separate private transactions that were also approved in advance by CompX’s independent directors. During 2021, CompX purchased 75,000 shares of its Class A common stock in a market transaction for approximately $1.3 million. At December 31, 2022, 523,647 shares were available for purchase under CompX’s prior repurchase authorizations.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Related Party Transactions

12 Months Ended

Dec. 31, 2022

Related party transactions

Note 15 - Related party transactions:

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

Current receivables and payables to affiliates are summarized in the table below:


	December 31,
	2021		2022

	(In thousands)
Current receivables from affiliates:
Income taxes receivable from Valhi	$	—	$	636

Current payables to affiliates:
Other - trade items	$	682	$	665
Income taxes payable to Valhi		9		—
Total	$	691	$	665

From time to time, we may have loans and advances outstanding between us and various related parties, pursuant to term and demand notes. We generally enter into these loans and advances for cash management purposes. When we loan funds to related parties, we are generally able to earn a higher rate of return on the loan than the lender would earn if the funds were invested in other instruments and when we borrow from related parties, we are generally able to pay a lower rate of interest than we would pay if we borrowed from unrelated parties. While certain of such loans may be of a lesser credit quality than cash equivalent instruments otherwise available to us, we believe that we have evaluated the credit risks involved and reflected those credit risks in the terms of the applicable loans. NLKW had borrowings outstanding of $.5 million as of December 31, 2021 and 2022 under the Valhi Credit Facility, and we incurred a nominal amount of interest expense under such credit facility for the years ended December 31, 2020, 2021 and 2022. See Note 10. In addition, prior to 2020, CompX entered into an unsecured revolving demand promissory note with Valhi under which, as amended, CompX has agreed to loan Valhi up to $25 million. CompX’s loan to Valhi, as amended, bears interest at prime plus 1.00%, payable quarterly, with all principal due on demand, but in any event no earlier than December 31, 2024. Loans made to Valhi at any time are at CompX’s discretion. At December 31, 2021 and 2022, the outstanding principal balance receivable from Valhi under the promissory note was $18.7 million and $13.2 million, respectively. Interest income (including unused commitment fees) on CompX’s loan to Valhi was $1.5 million in 2020, $1.2 million in 2021 and $1.0 million in 2022.

Under the terms of various intercorporate services agreements (ISAs) we enter into with Contran, employees of Contran will provide certain management, tax planning, financial and administrative services to the Company on a fee basis. Such fees are based on the compensation of individual Contran employees providing services for us and/or estimates of time devoted to our affairs by such persons. Because of the number of companies affiliated with Contran, we believe we benefit from cost savings and economies of scale gained by not having certain management, financial and administrative staffs duplicated at each entity, thus allowing certain Contran employees to provide services to multiple companies but only be compensated by Contran. We, CompX and Kronos negotiate fees annually and agreements renew

quarterly. The net ISA fees charged to us by Contran, (including amounts attributable to Kronos for all periods) aggregated approximately $33.4 million in 2020, $33.2 million in 2021 and $33.5 million in 2022.

Contran and certain of its subsidiaries and affiliates, including us, purchase certain of their insurance policies and risk management services as a group, with the costs of the jointly-owned policies and services being apportioned among the participating companies. Tall Pines Insurance Company, a subsidiary of Valhi, underwrites certain insurance policies for Contran and certain of its subsidiaries and affiliates, including us. Tall Pines purchases reinsurance from highly rated (as determined by A.M. Best or other internationally recognized ratings agency) third-party insurance carriers for substantially all of the risks it underwrites. Consistent with insurance industry practices, Tall Pines receives commissions from the reinsurance underwriters and/or assesses fees for certain of the policies that it underwrites. During 2020, 2021 and 2022 we paid $22.2 million, $26.3 million and $24.3 million, respectively, under the group insurance program (including amounts attributable to Kronos for all periods, including its Louisiana Pigment Company joint venture) which amounts principally represent insurance premiums, including $15.6 million, $19.5 million and $18.2 million in 2020, 2021 and 2022, respectively, for policies written by Tall Pines. Amounts paid under the group insurance program also include payments to insurers or reinsurers for the reimbursement of claims within our applicable deductible or retention ranges that such insurers and reinsurers paid to third parties on our behalf, as well as amounts for claims and risk management services and various other third-party fees and expenses incurred by the program. We expect these relationships will continue in 2023.

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

Contran and certain of its subsidiaries, including us, participate in a combined information technology data services program that Contran provides for primary data processing and failover. The program apportions its costs among the participating companies. The aggregate amount Kronos paid to Contran for such services was $.3 million in each of 2020, 2021 and 2022. Under the terms of a sublease agreement between Contran and Kronos, Kronos leases certain office space from Contran. Kronos paid Contran $.4 million in both 2020 and 2021 and $.5 million in 2022 for such rent and related ancillary services. We expect that these relationships with Contran will continue in 2023.

Commitments and contingencies

12 Months Ended

Dec. 31, 2022

Commitments and contingencies

Commitments and contingencies

Note 16 - Commitments and contingencies:

Lead pigment litigation

Our former operations included the manufacture of lead pigments for use in paint and lead-based paint. We, 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.

We believe these actions are without merit, and we intend 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 we are a party, and with respect to all such lead pigment litigation cases to which we are a party, we believe liability to us that may result, if any, in this regard cannot be reasonably estimated, because:

●

we have 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 us, and

●

we have never ultimately been found liable with respect to any such litigation matters, including over 100 cases over a thirty-year period for which we were previously a party and for which we have 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 us which may result, if any, cannot be reasonably estimated at this time because there is no prior history of a loss of this nature on which an estimate could be made and there is no substantive information available upon which an estimate could be based.

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

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

For financial reporting purposes, using a discount rate of 1.9% per annum, we discounted the aggregate $101.7 million settlement to the estimated net present value of $96.3 million. We made the initial $25.0 million payment in September 2019 and the first, second and third annual installment payments of $12.0 million each in September 2020, 2021, and 2022. We recognized an aggregate accretion expense of $1.3 million, $1.1 million, and $.9 million in 2020, 2021, and 2022 respectively.

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

Environmental matters and litigation

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

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

●

complexity and differing interpretations of governmental regulations,

●

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

●

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

●

solvency of other PRPs,

●

multiplicity of possible solutions,

●

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

●

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

●

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

In addition, the imposition of more stringent standards or requirements under environmental laws or regulations, new developments or changes regarding site cleanup costs or the allocation of costs among PRPs, solvency of other PRPs, the results of future testing and analysis undertaken with respect to certain sites or a determination that we are potentially responsible for the release of hazardous substances at other sites, could cause our expenditures to exceed our current estimates. 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. At December 31, 2021 and 2022, we had not recognized any receivables for recoveries.

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

The table below presents a summary of the activity in our accrued environmental costs during the past three years. The amount charged to expense is included in corporate expense on our Consolidated Statements of Income.


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Balance at the beginning of the period	$	94,508	$	93,416	$	92,940
Additions charged to expense, net		82		788		486
Payments, net		(1,174)		(1,264)		(1,068)

Balance at the end of the period	$	93,416	$	92,940	$	92,358

Amounts recognized in the balance sheet:
Current liability	$	2,027	$	2,643	$	2,627
Noncurrent liability		91,389		90,297		89,731

Balance at the end of the period	$	93,416	$	92,940	$	92,358

On a quarterly basis, we evaluate the potential range of our liability for environmental remediation and related costs at sites where we have been named as a PRP or defendant, including sites for which our wholly-owned environmental management subsidiary, NL Environmental Management Services, Inc. (EMS), has contractually assumed our obligations. At December 31, 2022, we had accrued approximately $92 million related to approximately 33 sites associated with

remediation and related matters we believe are at the present time and/or in their current phase reasonably estimable. The upper end of the range of reasonably possible costs to us for remediation and related matters for which we believe it is possible to estimate costs is approximately $119 million, including the amount currently accrued. These accruals have not been discounted to present value.

We believe it is not reasonably possible to estimate the range of costs for certain sites. At December 31, 2022, there were approximately five sites for which we are not currently able to reasonably estimate a range of costs. For these sites, generally the investigation is in the early stages, and we are unable to determine whether or not we actually had any association with the site, the nature of our 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 our control, such as when the party alleging liability provides information to us. At certain of these previously inactive sites, we have received general and special notices of liability from the EPA and/or state agencies alleging that we, sometimes with other PRPs, are liable for past and future costs of remediating environmental contamination allegedly caused by former operations. These notifications may assert that we, along with any other alleged PRPs, are liable for past and/or future clean-up costs. As further information becomes available to us for any of these sites which would allow us to estimate a range of costs, we would at that time adjust our accruals. Any such adjustment could result in the recognition of an accrual that would have a material effect on our consolidated financial statements, results of operations and liquidity.

Insurance coverage claims

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

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

Other litigation

In addition to the litigation described above, we and our affiliates are also involved in various other environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to present and former businesses. In certain cases, we have insurance coverage for these items, although we do not expect additional material insurance coverage for environmental matters. We currently believe the disposition of all of these various other claims and disputes (including asbestos-related claims), individually and 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.

Concentrations of credit risk

Component products are sold primarily in North America to original equipment manufacturers. The ten largest customers related to our Component Products operations accounted for approximately 48% of total sales in 2020, 51% in 2021 and 52% in 2022. One customer of CompX’s Security Products business accounted for 17% of total sales in 2020, 16% in 2021 and 14% in 2022. One customer of CompX’s Marine Components business accounted for 12% of consolidated sales in 2022.

Income taxes

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

Financial instruments and fair value measurements

12 Months Ended

Dec. 31, 2022

Financial instruments and fair value measurements

Financial instruments and fair value measurements

Note 17 - Financial instruments:

See Note 5 for information on how we determine fair value of our marketable securities.

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2021 and 2022:

December 31, 2021

December 31, 2022

Carrying

Fair

Carrying

Fair

amount

value

amount

value

(In thousands)

Cash, cash equivalents and restricted cash

175,242

97,502

Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value.

Organization and basis of presentation (Policies)

12 Months Ended

Dec. 31, 2022

Summary of Significant Accounting Policies and Organization and Basis of Presentation

Nature of our business

Organization

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

Management's estimates

Principles of consolidation

Currency translation

Cash and cash equivalents

Restricted cash and cash equivalents

Marketable securities and securities transactions

●

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

●

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

●

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

Accounts receivable

Accounts receivable - We provide an allowance for doubtful accounts for known and estimated potential losses arising from sales to customers based on a periodic review of these accounts. See Note 3.

Inventories and cost of sales

Investment in Kronos Worldwide, Inc.

Goodwill

Leases

Employee benefit plans

Property and equipment; depreciation expense

Income taxes

Environmental remediation costs

Net sales

Selling, general and administrative expenses; advertising costs; research and development costs

Corporate expenses

Corporate expenses - Corporate expenses include environmental, legal and other costs attributable to formerly-owned business units.

Business and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2022

Segments Geographical Areas [Abstract]

Schedule of Disaggregates Net Sales By Reporting Unit


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Net sales:
Security Products	$	87,863	$	105,124	$	114,519
Marine Components		26,674		35,691		52,043
Total	$	114,537	$	140,815	$	166,562

Geographical Information Attributable to Net Sales


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Net sales - point of destination:
United States	$	107,712	$	129,160	$	153,982
Canada		4,423		8,061		9,227
Mexico		431		589		722
Other		1,971		3,005		2,631
Total	$	114,537	$	140,815	$	166,562

Accounts and other receivables, net (Tables)

12 Months Ended

Dec. 31, 2022

Accounts and other receivables, net

Schedule of Accounts Notes Loans and Financing Receivable


	December 31,
	2021		2022

	(In thousands)
Trade receivables - CompX	$	15,616	$	17,910
Accrued insurance recoveries		43		—
Other receivables		20		30
Allowance for doubtful accounts		(70)		(70)
Total	$	15,609	$	17,870

Inventories, net (Tables)

12 Months Ended

Dec. 31, 2022

Inventories, net

Schedule of Inventories, Net


	December 31,
	2021		2022

	(In thousands)
Raw materials	$	5,042	$	6,245
Work in process		16,767		19,983
Finished products		3,833		5,062
Total	$	25,642	$	31,290

Marketable securities (Tables)

12 Months Ended

Dec. 31, 2022

Marketable securities

Schedule of Marketable Securities


	Fair value			Cost or
	measurement	Market		amortized		Unrealized
	level	value		cost		gain (loss)

		(In thousands)
December 31, 2021
Noncurrent assets
Valhi common stock	1	$	34,435	$	24,347	$	10,088

December 31, 2022
Current assets - fixed income securities	2	$	70,164	$	70,226	$	(62)

Noncurrent assets
Valhi common stock	1	$	26,350	$	24,347	$	2,003

Investment in Kronos Worldwide, Inc. (Tables)

12 Months Ended

Dec. 31, 2022

Investment in Kronos Worldwide, Inc.

Changes in Carrying Value of Investment


	Years ended December 31,
	2020		2021		2022

	(In millions)
Balance at the beginning of the period	$	248.4	$	242.4	$	264.8
Equity in earnings of Kronos		19.4		34.3		31.9
Dividends received from Kronos		(25.4)		(25.4)		(26.8)
Equity in Kronos' other comprehensive income (loss):
Currency translation		4.1		(2.1)		(8.8)
Defined benefit pension plans		(3.7)		15.6		30.9
Other postretirement benefit plans		(.1)		—		—
Other		(.3)		—		.2
Balance at the end of the period	$	242.4	$	264.8	$	292.2

Selected Financial Information of Kronos Balance Sheet


	December 31,
	2021		2022

	(In millions)
Current assets	$	1,258.0	$	1,242.2
Property and equipment, net		503.4		484.5
Investment in TiO₂ joint venture		101.9		112.9
Other noncurrent assets		149.5		94.8
Total assets	$	2,012.8	$	1,934.4

Current liabilities	$	288.8	$	326.7
Long-term debt		449.8		424.1
Accrued pension costs		287.4		128.6
Other noncurrent liabilities		116.6		97.8
Stockholders’ equity		870.2		957.2
Total liabilities and stockholders’ equity	$	2,012.8	$	1,934.4

Selected Financial Information of Kronos Income Statement


	Years ended December 31,
	2020		2021		2022

	(In millions)
Net sales	$	1,638.8	$	1,939.4	$	1,930.2
Cost of sales		1,287.6		1,493.2		1,539.1
Income from operations		116.2		187.1		159.6
Income tax expense		16.1		40.5		29.4
Net income		63.9		112.9		104.5

Other assets, net (Tables)

12 Months Ended

Dec. 31, 2022

Other assets, net

Schedule of Other Assets, Net


	December 31,
	2021		2022

	(In thousands)
Pension asset	$	1,356	$	1,105
Other		1,397		1,418
Total	$	2,753	$	2,523

Accrued and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Accrued and other current liabilities

Schedule of Accrued and Other Current Liabilities


	December 31,
	2021		2022

	(In thousands)
Employee benefits	$	10,345	$	11,023
Other		1,672		2,365
Total	$	12,017	$	13,388

Employee benefit plans (Tables)

12 Months Ended

Dec. 31, 2022

Components of Net Periodic Defined Benefit Cost (Income)


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Net periodic pension cost:
Interest cost	$	1,483	$	947	$	1,138
Expected return on plan assets		(1,850)		(1,603)		(1,552)
Plan settlement		—		—		104
Recognized actuarial losses		1,412		1,562		1,664
Total	$	1,045	$	906	$	1,354

Defined Benefit Pension Plans

Expected Benefit Payments


Years ending December 31,	Amount
	(In thousands)
2023	$	3,441
2024		3,368
2025		3,295
2026		3,237
2027		3,164
Next 5 years		14,426

Funded Status of Defined Benefit Plans


	December 31,
	2021		2022

	(In thousands)
Change in projected benefit obligations (PBO):
Benefit obligations at beginning of the year	$	52,873	$	50,367
Interest cost		947		1,138
Plan settlement		—		(188)
Actuarial (gains) losses		295		(10,777)
Change in currency exchange rates		(73)		(965)
Benefits paid		(3,675)		(3,485)
Benefit obligations at end of the year		50,367		36,090

Change in plan assets:
Fair value of plan assets at beginning of the year		50,260		47,940
Actual return on plan assets		226		(10,263)
Employer contributions		1,169		1,228
Change in currency exchange rates		(40)		(1,294)
Benefits paid		(3,675)		(3,485)
Fair value of plan assets at end of year		47,940		34,126
Funded status	$	(2,427)	$	(1,964)

Amounts recognized in the balance sheet:
Noncurrent pension asset	$	1,356	$	1,105
Accrued pension costs:
Current		(61)		(57)
Noncurrent		(3,722)		(3,012)
Total		(2,427)		(1,964)

Accumulated other comprehensive loss - actuarial losses, net		28,265		27,530
Total	$	25,838	$	25,566

Accumulated benefit obligations (ABO)	$	50,367	$	36,090

Changes in Other Comprehensive Income (Loss)


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial gain (loss) arising during the year	$	(934)	$	1,618	$	(1,034)
Plan settlement		—		—		104
Amortization of unrecognized net actuarial gain (loss)		1,412		(1,562)		1,664
Total	$	478	$	56	$	734

Information Concerning Defined Benefit Pension Plans (Including Certain Plans for Which ABO Exceeds Fair Value of Plan Assets)


	December 31,
	2021		2022

	(In thousands)
PBO at end of the year:
U.S. plan	$	40,254	$	30,254
U.K. plan		10,113		5,836
Total	$	50,367	$	36,090
Fair value of plan assets at end of the year:
U.S. plan	$	36,471	$	27,185
U.K. plan		11,469		6,941
Total	$	47,940	$	34,126

Plans for which the ABO exceeds plan assets (only our U.S. plan):
PBO	$	40,254	$	30,254
ABO		40,254		30,254
Fair value of plan assets		36,471		27,185

Summary of Assumptions Used to Determine Net Benefit Obligation


	Years ended December 31,
Rate	2020		2021		2022
Discount rate	2.9	%	2.1	%	2.3	%
Long-term rate of return on plan assets	4.2	%	3.3	%	3.3	%

Schedule of composition of our pension plan assets by fair value level


	Fair Value Measurements
			Quoted prices		Significant other		Significant
			in active		observable		unobservable		Assets measured
	Total		markets (Level 1)		inputs (Level 2)		inputs (Level 3)		at NAV

	(In thousands)
December 31, 2021:
U.S.
Equities	$	12,951	$	831	$	—	$	108	$	12,012
Fixed income		21,299		—		—		—		21,299
Cash and other		2,221		1,352		—		—		869
U.K. - Other		11,469		1,324		—		10,145		—
Total	$	47,940	$	3,507	$	—	$	10,253	$	34,180

Fair Value Measurements

Quoted prices

Significant other

Significant

in active

observable

unobservable

Assets measured

Total

markets (Level 1)

inputs (Level 2)

inputs (Level 3)

at NAV

(In thousands)

December 31, 2022:

U.S.

Equities

8,591

694

—

7,897

Fixed income

15,954

149

—

15,805

Cash and other

2,640

1,903

—

693

U.K. - Other

6,941

1,104

—

5,837

—

Total

34,126

3,850

—

5,881

24,395

Other noncurrent liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Other noncurrent liabilities

Summary of Other Noncurrent Liabilities


	December 31,
	2021		2022

	(In thousands)
Reserve for uncertain tax positions	$	1,724	$	2,714
OPEB		787		637
Insurance claims and expenses		632		625
Other		347		303
Total	$	3,490	$	4,279

Income taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income taxes

Component of Income Taxes


	Years ended December 31,
	2020		2021		2022

	(In millions)
Expected tax expense, at U.S. federal statutory income tax rate of 21%	$	2.9	$	12.8	$	8.2
Nontaxable dividends received from Kronos		(5.3)		(5.3)		(5.6)
U.S. state income taxes and other, net		(.1)		—		.2
Income tax expense (benefit)	$	(2.5)	$	7.5	$	2.8

Components of income tax expense (benefit):
Currently payable	$	—	$	—	$	.5
Deferred income tax expense (benefit)		(2.5)		7.5		2.3
Income tax expense (benefit)	$	(2.5)	$	7.5	$	2.8

Comprehensive provision (benefit) for income taxes allocable to:
Net income	$	(2.5)	$	7.5	$	2.8
Additional paid-in capital		(.1)		—		—
Other comprehensive income:
Currency translation		.9		(.4)		(1.8)
Pension plans		(.7)		3.2		6.5
OPEB plans		(.1)		—		.1
Total	$	(2.5)	$	10.3	$	7.6

Components of Net Deferred Tax Liability


	December 31,
	2021				2022
	Assets		Liabilities		Assets		Liabilities

	(In millions)
Tax effect of temporary differences related to:
Inventories	$	.5	$	—	$	.4	$	—
Marketable securities		—		(7.0)		—		(5.3)
Property and equipment		—		(2.7)		—		(2.0)
Accrued OPEB costs		.2		—		.2		—
Accrued pension costs		.5		—		.4		—
Accrued employee benefits		1.3		—		1.3		—
Accrued environmental liabilities		26.7		—		24.3		—
Goodwill		—		(1.7)		—		(1.7)
Other accrued liabilities and deductible differences		.2		—		.2		—
Other taxable differences		—		(2.3)		—		(2.4)
Investment in Kronos Worldwide, Inc.		—		(59.8)		—		(65.5)
Adjusted gross deferred tax assets (liabilities)		29.4		(73.5)		26.8		(76.9)
Netting of items by tax jurisdiction		(29.4)		29.4		(26.8)		26.8
Net noncurrent deferred tax liability	$	—	$	(44.1)	$	—	$	(50.1)

Stockholders' equity (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' equity

Schedule of Changes in Accumulated Other Comprehensive Loss


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Accumulated other comprehensive loss, net of tax:
Currency translation:
Balance at beginning of period	$	(172,843)	$	(169,575)	$	(171,235)
Other comprehensive income (loss)		3,268		(1,660)		(6,956)
Balance at end of period	$	(169,575)	$	(171,235)	$	(178,191)

Defined benefit pension plans:
Balance at beginning of period	$	(78,257)	$	(80,704)	$	(68,468)
Other comprehensive income (loss):
Amortization of prior service cost and net losses included in net periodic pension cost		4,330		4,813		3,592
Net actuarial gain (loss) arising during the year		(6,777)		7,423		20,881
Plan settlement		—		—		138
Balance at end of period	$	(80,704)	$	(68,468)	$	(43,857)

OPEB plans and other:
Balance at beginning of period	$	(590)	$	(910)	$	(1,053)
Other comprehensive income (loss):
Amortization of net gain included in net periodic OPEB cost		(320)		(143)		(369)
Net actuarial gain arising during the year		—		—		529
Change in value of debt securities		—		—		(50)
Balance at end of period	$	(910)	$	(1,053)	$	(943)

Total accumulated other comprehensive loss:
Balance at beginning of period	$	(251,690)	$	(251,189)	$	(240,756)
Other comprehensive income		501		10,433		17,765
Balance at end of period	$	(251,189)	$	(240,756)	$	(222,991)

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2022

Current Receivables and Payables to Affiliates


	December 31,
	2021		2022

	(In thousands)
Current receivables from affiliates:
Income taxes receivable from Valhi	$	—	$	636

Current payables to affiliates:
Other - trade items	$	682	$	665
Income taxes payable to Valhi		9		—
Total	$	691	$	665

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and contingencies

Changes in Accrued Environmental Remediation and Related Costs


	Years ended December 31,
	2020		2021		2022

	(In thousands)
Balance at the beginning of the period	$	94,508	$	93,416	$	92,940
Additions charged to expense, net		82		788		486
Payments, net		(1,174)		(1,264)		(1,068)

Balance at the end of the period	$	93,416	$	92,940	$	92,358

Amounts recognized in the balance sheet:
Current liability	$	2,027	$	2,643	$	2,627
Noncurrent liability		91,389		90,297		89,731

Balance at the end of the period	$	93,416	$	92,940	$	92,358

Financial instruments and fair value measurements (Tables)

12 Months Ended

Dec. 31, 2022

Financial instruments and fair value measurements

Summary of Financial Instruments Not Carried at Fair Value

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2021 and 2022:

December 31, 2021

December 31, 2022

Carrying

Fair

Carrying

Fair

amount

value

amount

value

(In thousands)

Cash, cash equivalents and restricted cash

175,242

97,502

Organization and basis of presentation - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Significant Accounting Policies [Line Items]
Received net refunds for income taxes	$ 1,100	$ 0	$ 0
Uncertain tax positions	50.00%
Advertising costs		0	0	$ 0
Research, development and certain sales technical support costs		0	$ 0	$ 0
Environmental Remediation Litigation
Significant Accounting Policies [Line Items]
Recoveries receivable	$ 0	$ 0
Minimum \| Building
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	15 years
Minimum \| Equipment and Software
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	3 years
Maximum \| Building
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	40 years
Maximum \| Equipment and Software
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	20 years
Kronos
Significant Accounting Policies [Line Items]
Parent company ownership interest	31.00%
CompX
Significant Accounting Policies [Line Items]
Percentage of controlling interest owned	13.00%
Parent Company \| Valhi Inc
Significant Accounting Policies [Line Items]
Parent company ownership interest	83.00%
Parent Company \| Valhi Inc \| Contran Corporation
Significant Accounting Policies [Line Items]
Parent company ownership interest	92.00%

Business and Geographic Information - Schedule of Disaggregates Net Sales By Reporting Unit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Net sales	$ 166,562	$ 140,815	$ 114,537
Security Products
Disaggregation Of Revenue [Line Items]
Net sales	114,519	105,124	87,863
Marine Components
Disaggregation Of Revenue [Line Items]
Net sales	$ 52,043	$ 35,691	$ 26,674

- 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.

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+ Details

Business and Geographic Information - Geographical Information Attributable to Net Sales (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	$ 166,562	$ 140,815	$ 114,537
Point of destination
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	166,562	140,815	114,537
United States \| Point of destination
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	153,982	129,160	107,712
Canada \| Point of destination
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	9,227	8,061	4,423
Mexico \| Point of destination
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	722	589	431
Other. \| Point of destination
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	$ 2,631	$ 3,005	$ 1,971

- Definition

+ References

+ Details

Accounts and other receivables, net - Schedule of Accounts Notes Loans and Financing Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Accrued insurance recoveries		$ 43
Other receivables	$ 30	20
Total	17,870	15,609
CompX
Receivables [Abstract]
Trade receivables	17,910	15,616
Allowance for doubtful accounts	$ (70)	$ (70)

Inventories, net - Schedule of Inventories, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventories, net
Raw materials	$ 6,245	$ 5,042
Work in process	19,983	16,767
Finished products	5,062	3,833
Total	$ 31,290	$ 25,642

Marketable securities - Schedule of Marketable Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Market value, Current assets	$ 70,164
Market value, Noncurrent assets	26,350	$ 34,435
Level 1 \| Valhi Inc \| Common stock
Schedule Of Available For Sale Securities [Line Items]
Market value, Noncurrent assets	26,350	34,435
Cost or amortized cost, Noncurrent assets	24,347	24,347
Unrealized Gain (Loss) on Noncurrent Marketable Securities	2,003	$ 10,088
Level 2 \| Fixed income securities
Schedule Of Available For Sale Securities [Line Items]
Market value, Current assets	70,164
Cost or amortized cost, Current assets	70,226
Unrealized gain (loss), Current assets	$ (62)

Marketable securities - Additional Information (Detail) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Minimum
Schedule Of Available For Sale Securities [Line Items]
Maturity term of current marketable securities invested	4 months
Maximum
Schedule Of Available For Sale Securities [Line Items]
Maturity term of current marketable securities invested	12 months
Valhi Inc \| Common stock
Schedule Of Available For Sale Securities [Line Items]
Number of shares owned	1.2	1.2
Quoted marked price per share	$ 22.00	$ 28.75

Investment in Kronos Worldwide, Inc. - Additional Information (Detail) - Kronos - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Number of shares owned	35.2
Aggregate market value	$ 331.1	$ 528.6
Quoted market price per share	$ 9.40	$ 15.01

Investment in Kronos Worldwide, Inc. - Changes in Carrying Value of Investment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance at the beginning of the period	$ 264,803
Equity in earnings of Kronos Worldwide, Inc.	31,873	$ 34,323	$ 19,437
Dividends received from Kronos	(26,766)	(25,356)	(25,356)
Equity in Kronos' other comprehensive income (loss):
Balance at the end of the period	292,206	264,803
Defined Benefit Pension Plans
Equity in Kronos' other comprehensive income (loss):
Defined benefit pension plans	(734)	(56)	(478)
Kronos
Balance at the beginning of the period	264,800	242,400	248,400
Equity in earnings of Kronos Worldwide, Inc.	31,900	34,300	19,400
Dividends received from Kronos	(26,800)	(25,400)	(25,400)
Equity in Kronos' other comprehensive income (loss):
Currency translation	(8,800)	(2,100)	4,100
Other	200		(300)
Balance at the end of the period	292,200	264,800	242,400
Kronos \| Defined Benefit Pension Plans
Equity in Kronos' other comprehensive income (loss):
Defined benefit pension plans	$ 30,900	$ 15,600	(3,700)
Kronos \| OPEB
Equity in Kronos' other comprehensive income (loss):
Defined benefit pension plans			$ (100)

Investment in Kronos Worldwide, Inc. - Selected Financial Information of Kronos Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Current assets	$ 193,968	$ 193,648
Property and equipment, net	28,694	29,182
Other noncurrent assets	2,523	2,753
Total assets	609,867	596,152
Current liabilities	32,052	30,597
Accrued pension costs	3,012	3,722
Other	4,279	3,490
Stockholders' equity	382,150	362,470
Total liabilities and equity	609,867	596,152
Kronos \| Reportable Legal Entities
Schedule Of Equity Method Investments [Line Items]
Current assets	1,242,200	1,258,000
Property and equipment, net	484,500	503,400
Investment in TiO2 joint venture	112,900	101,900
Other noncurrent assets	94,800	149,500
Total assets	1,934,400	2,012,800
Current liabilities	326,700	288,800
Long-term debt	424,100	449,800
Accrued pension costs	128,600	287,400
Other	97,800	116,600
Stockholders' equity	957,200	870,200
Total liabilities and equity	$ 1,934,400	$ 2,012,800

Investment in Kronos Worldwide, Inc. - Selected Financial Information of Kronos Income Statement (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Net sales	$ 166,562	$ 140,815	$ 114,537
Cost of sales	117,763	98,066	81,689
Income from operations	13,731	10,491	2,357
Income tax expense (benefit)	2,785	7,479	(2,515)
Net income	33,844	51,188	14,680
Kronos \| Reportable Legal Entities
Schedule Of Equity Method Investments [Line Items]
Net sales	1,930,200	1,939,400	1,638,800
Cost of sales	1,539,100	1,493,200	1,287,600
Income from operations	159,600	187,100	116,200
Income tax expense (benefit)	29,400	40,500	16,100
Net income	$ 104,500	$ 112,900	$ 63,900

- Definition

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

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Goodwill - Additional Information (Detail) - USD ($)	12 Months Ended
Goodwill - Additional Information (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Increase (decrease) in carrying amount of goodwill	$ 0	$ 0	$ 0
Goodwill impairment	0	$ 0	$ 0
Gross goodwill	$ 43,700,000
EWI Re, Inc.
Goodwill [Line Items]
Goodwill impairment				$ 6,400,000
CompX \| Marine Components
Goodwill [Line Items]
Goodwill impairment				$ 10,100,000

Other assets, net - Schedule of Other Assets, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other assets, net
Pension asset	$ 1,105	$ 1,356
Other	1,418	1,397
Total	$ 2,523	$ 2,753

Accrued and other current liabilities - Schedule of Accrued and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued and other current liabilities
Employee benefits	$ 11,023	$ 10,345
Other	2,365	1,672
Total	$ 13,388	$ 12,017

Long-term debt - Additional Information (Detail) - NLKW Holding, LLC - USD ($) shares in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Kronos
Debt Instrument [Line Items]
Asset contribution, equity security shares	35.2
Back-To-Back Credit Facility
Debt Instrument [Line Items]
Maximum borrowing under credit facility	$ 50.0
Percentage of membership interest in subsidiary	100.00%
Valhi \| Valhi Credit Facility
Debt Instrument [Line Items]
Maximum borrowing under credit facility	$ 50.0
Line of credit facility frequency of payment of interest		quarterly
Maximum principle outstanding, percentage of collateral value	50.00%
Debt instrument collateral		100% of the membership interest in NLKW held by us
Percentage of membership interest in subsidiary	100.00%
Outstanding borrowing		$ 0.5	$ 0.5	$ 0.5
Variable rate basis spread above reference rate	1.875%
Debt instrument average interest rate, during period		9.40%
Debt instrument interest rate		9.40%
Average interest rate		6.70%
Valhi \| Stock Repurchase Rights [Member] \| Valhi Credit Facility
Debt Instrument [Line Items]
Stock repurchase, maximum debt percentage	50.00%
Debt instrument maturity period		5 years
Variable rate basis spread above reference rate	2.75%

Employee Benefit Plans - Expected Benefit Payments (Detail) - Defined Benefit Pension Plans $ in Thousands	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2023	$ 3,441
2024	3,368
2025	3,295
2026	3,237
2027	3,164
Next 5 years	$ 14,426

Employee Benefit Plans - Funded Status of Defined Benefit Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 1,138	$ 947	$ 1,483
Noncurrent pension asset	1,105	1,356
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Balance at beginning of the year	50,367	52,873
Interest cost	1,138	947
Plan settlement	(188)
Actuarial losses	(10,777)	295
Change in currency exchange rates	(965)	(73)
Benefits paid	(3,485)	(3,675)
Benefit obligations at end of the year	36,090	50,367	52,873
Fair value at beginning of the year	47,940	50,260
Actual return on plan assets	(10,263)	226
Employer contributions	1,228	1,169
Change in currency exchange rates	(1,294)	(40)
Benefits paid	(3,485)	(3,675)
Fair value of plan assets at end of year	34,126	47,940	$ 50,260
Funded status	(1,964)	(2,427)
Noncurrent pension asset	1,105	1,356
Current	(57)	(61)
Noncurrent	(3,012)	(3,722)
Amounts recognized in the Consolidated Balance Sheets	(1,964)	(2,427)
Accumulated other comprehensive loss - actuarial losses, net	27,530	28,265
Total	25,566	25,838
Accumulated benefit obligations (ABO)	$ 36,090	$ 50,367

Employee Benefit Plans - Changes in Other Comprehensive Income (Loss) (Detail) - Defined Benefit Pension Plans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Net actuarial gain (loss) arising during the year	$ (1,034)	$ 1,618	$ (934)
Plan settlement	104
Amortization of unrecognized net actuarial gain (loss)	1,664	(1,562)	1,412
Total	$ 734	$ 56	$ 478

Employee benefit plans - Components of Net Periodic Defined Benefit Cost (Income) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 1,138	$ 947	$ 1,483
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
Plan settlement	$ 104
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
Expected return on plan assets	$ (1,552)	$ (1,603)	$ (1,850)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
Recognized actuarial losses	$ 1,664	$ 1,562	$ 1,412
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	Other Comprehensive Income Loss Amortization Adjustment From A O C I Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
Total	$ 1,354	$ 906	$ 1,045
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 1,138	$ 947

Employee Benefit Plans - Information Concerning Defined Benefit Pension Plans (Including Certain Plans for Which ABO Exceeds Fair Value of Plan Assets) (Detail) - Defined Benefit Pension Plans - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
PBO	$ 36,090	$ 50,367	$ 52,873
Fair value of plan assets	34,126	47,940	$ 50,260
PBO for plans for which ABO exceeds plan assets	30,254	40,254
ABO for plans for which ABO exceeds plan assets	30,254	40,254
Fair value of plan assets for plans for which ABO exceeds plan assets	27,185	36,471
United States
Defined Benefit Plan Disclosure [Line Items]
PBO	30,254	40,254
Fair value of plan assets	27,185	36,471
U.K.
Defined Benefit Plan Disclosure [Line Items]
PBO	5,836	10,113
Fair value of plan assets	$ 6,941	$ 11,469

- Definition

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

+ References + Details

Employee Benefit Plans - Summary of Weighted-Average Assumptions Used to Determine Net Benefit Obligation (Detail) - Defined Benefit Pension Plans	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.30%	2.10%	2.90%
Long-term rate of return on plan assets	3.30%	3.30%	4.20%

Employee Benefit Plans - Composition of Pension Plan Assets by Fair Value Level (Detail) - Defined Benefit Pension Plans - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Total	$ 34,126	$ 47,940	$ 50,260
United States
Defined Benefit Plan Disclosure [Line Items]
Total	27,185	36,471
U.K.
Defined Benefit Plan Disclosure [Line Items]
Total	6,941	11,469
Equities \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	8,591	12,951
Fixed Income \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	15,954	21,299
Cash and Other \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	2,640	2,221
Others \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Total	6,941	11,469
Level 1
Defined Benefit Plan Disclosure [Line Items]
Total	3,850	3,507
Level 1 \| Equities \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	694	831
Level 1 \| Fixed Income \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	149
Level 1 \| Cash and Other \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	1,903	1,352
Level 1 \| Others \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Total	1,104	1,324
Level 3
Defined Benefit Plan Disclosure [Line Items]
Total	5,881	10,253
Level 3 \| Equities \| United States
Defined Benefit Plan Disclosure [Line Items]
Total		108
Level 3 \| Cash and Other \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	44
Level 3 \| Others \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Total	5,837	10,145
Assets Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Total	24,395	34,180
Assets Measured at NAV \| Equities \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	7,897	12,012
Assets Measured at NAV \| Fixed Income \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	15,805	21,299
Assets Measured at NAV \| Cash and Other \| United States
Defined Benefit Plan Disclosure [Line Items]
Total	$ 693	$ 869

Employee benefit plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined contribution pension plans	$ 3,900	$ 3,700	$ 3,000
Equities \| United States
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	7.00%
Plan asset target allocation	34.00%
Fixed Income \| United States
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	5.00%
Plan asset target allocation	59.00%
Funds \| Assets Measured at NAV \| United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assets	90.00%
Multi-asset Strategies and CMRT \| United States
Defined Benefit Plan Disclosure [Line Items]
Long-term return on plan assets	4.00%
UK Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan benefit obligation	$ 5,800
Fair value of plan assets	6,900
Plan assets recognized in the Consolidated Balance Sheet	1,100
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Plan benefit obligation	36,090	50,367	52,873
Fair value of plan assets	34,126	47,940	$ 50,260
Expected contributions to Defined Benefit Plans in Next Fiscal Year	1,200
Net underfunded status of defined benefit pension plans	$ 1,964	$ 2,427
Weighted-average rate determining the actuarial present value of benefit obligation	5.10%	2.30%
Long-term return on plan assets	3.30%	3.30%	4.20%
Defined Benefit Pension Plans \| United States
Defined Benefit Plan Disclosure [Line Items]
Plan benefit obligation	$ 30,254	$ 40,254
Fair value of plan assets	27,185	36,471
Defined Benefit Pension Plans \| Assets Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	24,395	34,180
Defined Benefit Pension Plans \| Equities \| United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,591	12,951
Defined Benefit Pension Plans \| Equities \| Assets Measured at NAV \| United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7,897	12,012
Defined Benefit Pension Plans \| Fixed Income \| United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15,954	21,299
Defined Benefit Pension Plans \| Fixed Income \| Assets Measured at NAV \| United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 15,805	$ 21,299

Other noncurrent liabilities - Summary of Other Noncurrent Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other noncurrent liabilities
Reserve for uncertain tax positions	$ 2,714	$ 1,724
OPEB	637	787
Insurance claims and expenses	625	632
Other	303	347
Total	$ 4,279	$ 3,490

Income taxes - Component of Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income taxes
Expected tax expense, at U.S. federal statutory income tax rate of 21%	$ 8,200	$ 12,800	$ 2,900
Nontaxable income	(5,600)	(5,300)	(5,300)
U.S. state income taxes and other, net	200		(100)
Income tax expense	$ 2,785	$ 7,479	$ (2,515)

- Definition

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

+ References + Details

Income Taxes - Component of Income Taxes Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Components of income tax expense (benefit):
Currently payable	$ 500
Deferred income tax expense (benefit)	(2,300)	$ (7,500)	$ 2,500
Income tax expense	$ 2,785	$ 7,479	$ (2,515)

- Definition

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

+ References + Details

Income taxes - Components of Comprehensive Provision for Income Taxes Allocation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Comprehensive provision for income taxes allocable to:
Net income	$ 2,785	$ 7,479	$ (2,515)
Additional paid-in capital			(100)
Other comprehensive income:
Currency translation	(1,800)	(400)	900
Total	7,600	10,300	(2,500)
Defined Benefit Pension Plans
Other comprehensive income:
Defined benefit plans	6,500	$ 3,200	(700)
OPEB
Other comprehensive income:
Defined benefit plans	$ 100		$ (100)

- Definition

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

+ References + Details

Income Taxes - Component of Income Taxes (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income taxes
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%

Income Taxes - Components of Net Deferred Tax Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Components of Deferred Tax Assets and Liabilities [Abstract]
Inventories	$ 400	$ 500
Accrued OPEB costs	200	200
Accrued pension costs	400	500
Accrued employee benefits	1,300	1,300
Accrued environmental liabilities	24,300	26,700
Other accrued liabilities and deductible differences	200	200
Adjusted gross deferred tax assets (liabilities)	26,800	29,400
Netting of items by tax jurisdiction	(26,800)	(29,400)
Marketable securities	(5,300)	(7,000)
Property and equipment	(2,000)	(2,700)
Goodwill	(1,700)	(1,700)
Other taxable differences	(2,400)	(2,300)
Investment in Kronos Worldwide, Inc.	(65,500)	(59,800)
Adjusted gross deferred tax assets (liabilities)	(76,900)	(73,500)
Net noncurrent deferred tax liability	(50,100)	(44,100)
Netting of items by tax jurisdiction	26,800	29,400
Net noncurrent deferred tax liability	$ (50,119)	$ (44,056)

Income taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Dec. 31, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Line Items]
Dividends received from Kronos Worldwide, Inc.			$ 26,766	$ 25,356	$ 25,356
Gross unrecognized tax benefits			7,300	7,300	7,300
Uncertain tax position			2,714	1,724
Unrecognized tax benefits, if recognize which would affect effective tax rate			7,300
Currently payable			500
Income tax expense (benefit)			(2,785)	(7,479)	2,515
Current payable to affiliate			665	691
Valhi \| Income Tax Payable
Income Tax Disclosure [Line Items]
Payable to affiliate			44,700
Federal Income Tax Purposes
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			$ 21,900
Annual usage limitation			80.00%
Net operating loss carryforwards expiration description			an indefinite carryforward period subject to an 80% annual usage limitation
Kronos
Income Tax Disclosure [Line Items]
Dividends received from Kronos Worldwide, Inc.			$ 26,800	$ 25,400	$ 25,400
Non-cash income tax benefit			3,500
Kronos \| CARES Act
Income Tax Disclosure [Line Items]
Cash tax benefit due to reversal of valuation allowance	$ 500
Percentage of adjusted taxable income				50.00%	30.00%
Interest expense and an increase in the valuation allowance			2,800
Kronos \| Deferred Tax Liability Non Current
Income Tax Disclosure [Line Items]
Uncertain tax position			4,600
Kronos \| Corporate Tax Purposes \| German
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			414,000
Kronos \| Corporate Tax Purposes \| Belgium
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			$ 13,000
Kronos European Subsidiaries \| Transition Tax
Income Tax Disclosure [Line Items]
Currently payable		$ 74,500
Current income tax expense payment period		8 years
Kronos European Subsidiaries \| Valhi
Income Tax Disclosure [Line Items]
Income tax liability payable period			8 years
Kronos European Subsidiaries \| Valhi \| Income Tax Payable
Income Tax Disclosure [Line Items]
Payable to affiliate			$ 44,700
Noncurrent payable to affiliate			33,500
Current payable to affiliate			$ 11,200

Stockholders' equity - Schedule of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	$ 362,470
Balance at end of period	382,150	$ 362,470
Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(171,235)	(169,575)	$ (172,843)
Other comprehensive income (loss)	(6,956)	(1,660)	3,268
Balance at end of period	(178,191)	(171,235)	(169,575)
Accumulated Defined Benefit Plans Adjustment \| Defined Benefit Pension Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(68,468)	(80,704)	(78,257)
Other comprehensive income (loss)	3,592	4,813	4,330
Plan settlement	138
Net actuarial gain (loss) arising during year	20,881	7,423	(6,777)
Balance at end of period	(43,857)	(68,468)	(80,704)
Other \| OPEB
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(1,053)	(910)	(590)
Other comprehensive income (loss)	(369)	(143)	(320)
Change in value of debt securities	(50)
Net actuarial gain (loss) arising during year	529
Balance at end of period	(943)	(1,053)	(910)
Accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(240,756)	(251,189)	(251,690)
Other comprehensive income (loss)	17,765	10,433	501
Balance at end of period	$ (222,991)	$ (240,756)	$ (251,189)

Stockholders' equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended												12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Payments of dividends													$ 13.7	$ 11.7	$ 7.8
Special dividend declared and paid													$ 17.1
Special dividend declared and paid (per share)													$ 0.35
Quarterly dividends paid (in dollars per share)	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.04	$ 0.04	$ 0.04	$ 0.04
Kronos
Class Of Stock [Line Items]
Number of shares purchased in market transaction													2,000
NL
Class Of Stock [Line Items]
Common stock awarded to board of directors													15,000	13,750	33,250
Shares available for award	51,150												51,150
NL \| Maximum
Class Of Stock [Line Items]
Aggregate of common stock awarded to directors													200,000
CompX
Class Of Stock [Line Items]
Number of shares available for purchase under repurchase authorizations	523,647												523,647
Shares available for award	131,050												131,050
CompX \| Common Class A
Class Of Stock [Line Items]
Number of shares purchased in market transaction													78,900	75,000
Value of of shares purchased in market transaction													$ 1.7	$ 1.3
CompX \| Common Class A \| Affiliates
Class Of Stock [Line Items]
Number of shares purchased in market transaction													8,900
CompX \| Common Class A \| Open Market Transaction
Class Of Stock [Line Items]
Number of shares purchased in market transaction													70,000
CompX \| Maximum
Class Of Stock [Line Items]
Aggregate of common stock awarded to directors													200,000
Kronos
Class Of Stock [Line Items]
Shares available for award	111,800												111,800
Kronos \| Maximum
Class Of Stock [Line Items]
Aggregate of common stock awarded to directors													200,000

Related Party Transactions - Current Receivables and Payables to Affiliates (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current receivables from affiliates:
Receivables from affiliates	$ 636
Current payables to affiliates:
Payable to affiliates	665	$ 691
Other - Trade Items
Current payables to affiliates:
Payable to affiliates	665	682
Valhi \| Income Taxes
Current receivables from affiliates:
Receivables from affiliates	$ 636
Current payables to affiliates:
Payable to affiliates		$ 9

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 30, 2016
Related Party Transaction [Line Items]
Notes receivable from affiliate	$ 13,200	$ 18,700
Contran \| Kronos
Related Party Transaction [Line Items]
Rent and related ancillary service	500	400	$ 400
Contran \| Intercorporate Services Agreement Fees
Related Party Transaction [Line Items]
Expense transaction with affiliate	33,500	33,200	33,400
Contran \| Combined Information Technology Data Recovery Program \| Kronos
Related Party Transaction [Line Items]
Expense transaction with affiliate	300	300	300
Tall Pines and EWI \| Insurance Premiums
Related Party Transaction [Line Items]
Expense transaction with affiliate	24,300	26,300	22,200
Tall Pines
Related Party Transaction [Line Items]
Expense transaction with affiliate	18,200	19,500	15,600
NLKW Holding, LLC \| Valhi \| Valhi Credit Facility
Related Party Transaction [Line Items]
Borrowing under credit facility				$ 50,000
Outstanding borrowings	500	500	500
CompX \| Valhi Inc \| Unsecured Revolving Promissory Note Receivable
Related Party Transaction [Line Items]
Maximum loan amount	$ 25,000
Interest rate on loans repayment	1.00%
Notes receivable from affiliate	$ 13,200	18,700
Interest income including unused commitment fees	$ 1,000	$ 1,200	$ 1,500

Commitments and contingencies - Changes in Accrued Environmental Remediation and Related Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Commitments and contingencies
Balance at the beginning of the period	$ 92,940	$ 93,416	$ 94,508
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Current liability, Noncurrent liability	Current liability, Noncurrent liability	Current liability, Noncurrent liability
Additions charged to expense, net	$ 486	$ 788	$ 82
Payments, net	(1,068)	(1,264)	(1,174)
Balance at the end of the period	92,358	92,940	93,416
Amounts recognized in the Condensed Consolidated Balance Sheet at the end of the period:
Current liability	2,627	2,643	2,027
Noncurrent liability	$ 89,731	$ 90,297	$ 91,389

Commitments and contingencies - Additional Information (Detail) $ in Thousands		1 Months Ended			12 Months Ended
	Jul. 24, 2019 USD ($) installment defendant	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2022 USD ($) site case	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Commitments and Contingent Liabilities [Line Items]
Recognized accretion expense					$ 908	$ 1,116	$ 1,321
Long-term litigation settlement					27,427	38,519
Accrual for reasonably estimable environmental remediation and related matters					$ 92,358	$ 92,940	$ 93,416	$ 94,508
Component Products \| Customer Concentration Risk \| Top Ten Customers \| Sales Revenue
Commitments and Contingent Liabilities [Line Items]
Concentration risk percentage					52.00%	51.00%	48.00%
Component Products \| Customer Concentration Risk \| Customer Two \| Sales Revenue \| CompX Security Products Business
Commitments and Contingent Liabilities [Line Items]
Concentration risk percentage					14.00%	16.00%	17.00%
Component Products \| Customer Concentration Risk \| One customer \| Sales Revenue \| CompX Security Products Business
Commitments and Contingent Liabilities [Line Items]
Concentration risk percentage					12.00%
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
Number of sites associated with remediation and related costs \| site					33
Number of sites currently not able to reasonably estimate a range of costs \| site					5
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					$ 119,000
Environmental Remediation Litigation
Commitments and Contingent Liabilities [Line Items]
Recoveries receivable					$ 0	$ 0
Lead Pigment Litigation
Commitments and Contingent Liabilities [Line Items]
Period by which loss contingency claims settled and dismissed					30 years
Description of defendants					on July 24, 2019, an order approving a global settlement agreement entered into among all of the plaintiffs and the three defendants remaining in the case (the Sherwin Williams Company, ConAgra Grocery Products and us) was entered by the court and the case was dismissed with prejudice. The global settlement agreement provides that an aggregate $305 million will be paid collectively by the three co-defendants in full satisfaction of all claims resulting in a dismissal of the case with prejudice and the resolution of (i) all pending and future claims by the plaintiffs in the case, and (ii) all potential claims for contribution or indemnity between us and our co-defendants in respect to the case
Number of defendants \| defendant	3
Litigation settlement amount	$ 305,000
NL's portion of global settlement amount, gross value	101,700
Litigation initial payment made 60 days after litigation settlement	25,000
Remaining litigation settlement charge	$ 76,700					1,100
Number of annual installments \| installment	6
Remaining litigation settlement payment due in first year	$ 12,000
Remaining litigation settlement payment due in second year	12,000
Remaining litigation settlement payment due in third year	12,000
Remaining litigation settlement payment due in forth year	12,000
Remaining litigation settlement payment due in fifth year	12,000
Remaining litigation settlement payment due in sixth year	16,700
Escrow deposit	$ 9,000
Litigation initial payment		$ 12,000	$ 12,000	$ 25,000
Recognized accretion expense					$ 900	$ 1,300
Discounted rate for estimated present value of remaining litigation amount							1.90%
Litigation settlement estimated net present value							$ 96,300
Lead Pigment Litigation \| Minimum
Commitments and Contingent Liabilities [Line Items]
Number of cases settled and dismissed and found not liable \| case					100

Financial instruments and fair value measurements - Summary of Financial Instruments Not Carried at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Carrying amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash, Carrying amount	$ 97,502	$ 175,242
Fair value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash, Fair value	$ 97,502	$ 175,242