0001558370-23-007852 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Entity 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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,815,734
Entity Central Index Key	0000072162
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Quarterly Report	true

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 48,146	$ 68,868
Restricted cash and cash equivalents	2,865	2,864
Marketable securities	95,688	70,164
Accounts and other receivables, net	18,713	17,870
Receivables from affiliates	889	636
Inventories, net	30,235	31,290
Prepaid expenses and other	2,103	2,276
Total current assets	198,639	193,968
Other assets:
Restricted cash and cash equivalents	25,870	25,770
Note receivable from affiliate	12,200	13,200
Marketable securities	20,852	26,350
Investment in Kronos Worldwide, Inc.	278,449	292,206
Goodwill	27,156	27,156
Other assets, net	2,891	2,523
Total other assets	367,418	387,205
Property and equipment:
Land	5,389	5,390
Buildings	23,181	23,181
Equipment	74,377	74,113
Construction in progress	399	722
Property and equipment, gross	103,346	103,406
Less accumulated depreciation	75,432	74,712
Net property and equipment	27,914	28,694
Total assets	593,971	609,867
Current liabilities:
Accounts payable	3,925	3,537
Accrued litigation settlement	11,887	11,830
Accrued and other current liabilities	8,349	13,388
Accrued environmental remediation and related costs	1,889	2,627
Payables to affiliates	665	665
Income taxes	5	5
Total current liabilities	26,720	32,052
Noncurrent liabilities:
Long-term debt from affiliate	500	500
Accrued environmental remediation and related costs	89,633	89,731
Long-term litigation settlement	27,557	27,427
Deferred income taxes	51,017	50,119
Accrued pension costs	3,063	3,012
Other	4,205	4,279
Total noncurrent liabilities	175,975	175,068
NL stockholders' equity:
Common stock; $.125 par value; 150,000 shares authorized; 48,803 and 48,816 shares issued and outstanding	6,101	6,101
Additional paid-in capital	298,252	298,598
Retained earnings	290,309	300,442
Accumulated other comprehensive loss	(224,368)	(222,991)
Total NL stockholders' equity	370,294	382,150
Noncontrolling interest in subsidiary	20,982	20,597
Total equity	391,276	402,747	$ 403,178
Total liabilities and equity	593,971	$ 609,867
Commitments and contingencies (Notes 13 and 16)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 41,151	$ 42,050
Cost of sales	28,447	29,970
Gross margin	12,704	12,080
Selling, general and administrative expense	5,664	5,774
Other operating income (expense):
Corporate expense	2,843	2,436
Income from operations	4,197	3,870
Equity in earnings of Kronos Worldwide, Inc.	(4,637)	17,533
Other income (expense):
Interest and dividend income	1,965	309
Marketable equity securities	(5,498)	671
Other components of net periodic pension and OPEB cost	(346)	(223)
Interest expense	(199)	(246)
Income before income taxes	(4,518)	21,914
Income tax expense (benefit)	1,421	2,705
Net income	(5,939)	19,209
Noncontrolling interest in net income of subsidiary	777	652
Net income attributable to NL stockholders	$ (6,716)	$ 18,557
Amounts attributable to NL stockholders:
Net income (loss) per basic share	$ (0.14)	$ 0.38
Net income (loss) per diluted share	$ 0.82	$ 0.74
Weighted average shares outstanding - basic	48,816	48,803
Weighted average shares outstanding - diluted	48,809	48,795

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ (5,939)	$ 19,209
Other comprehensive income (loss), net of tax:
Currency translation	(1,666)	1,580
Defined benefit pension plans	393	873
Marketable debt securities	(48)
Other postretirement benefit plans	(60)	(68)
Total other comprehensive income, net	(1,381)	2,385
Comprehensive income	(7,320)	21,594
Comprehensive income attributable to noncontrolling interest	773	652
Comprehensive income attributable to NL stockholders	$ (8,093)	$ 20,942

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, 2021	$ 6,100	$ 299,775	$ 297,351	$ (240,756)	$ 22,501	$ 384,971
Net income			18,557		652	19,209
Other comprehensive income (loss), net of tax				2,385		2,385
Dividends paid			(3,416)			(3,416)
Dividends paid to noncontrolling interest					(406)	(406)
Other, net		435				435
Ending Balance at Mar. 31, 2022	6,100	300,210	312,492	(238,371)	22,747	403,178
Beginning Balance at Dec. 31, 2022	6,101	298,598	300,442	(222,991)	20,597	402,747
Net income			(6,716)		777	(5,939)
Other comprehensive income (loss), net of tax				(1,377)	(4)	(1,381)
Dividends paid			(3,417)			(3,417)
Dividends paid to noncontrolling interest					(388)	(388)
Other, net		(346)				(346)
Ending Balance at Mar. 31, 2023	$ 6,101	$ 298,252	$ 290,309	$ (224,368)	$ 20,982	$ 391,276

- Definition

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

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- Definition

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

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

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
Dividends paid per share	$ 0.07	$ 0.07

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ (5,939)	$ 19,209
Depreciation and amortization	1,010	961
Deferred income taxes	1,362	2,688
Equity in earnings of Kronos Worldwide, Inc.	4,637	(17,533)
Dividends received from Kronos Worldwide, Inc.	6,692	6,692
Marketable equity securities	5,498	(671)
Benefit plan expense greater (less) than cash funding	330	306
Noncash interest expense	187	239
Other, net	(808)	(73)
Change in assets and liabilities:
Accounts and other receivables, net	(845)	(2,172)
Inventories, net	1,012	(2,490)
Prepaid expenses and other	172	(1,037)
Accounts payable and accrued liabilities	(4,498)	(2,966)
Accounts with affiliates	(253)	7
Accrued environmental remediation and related costs	(836)	(35)
Other noncurrent assets and liabilities, net	(443)	(130)
Net cash provided by operating activities	7,278	2,995
Cash flows from investing activities:
Capital expenditures	(270)	(1,717)
Proceeds from maturities	8,000
Note receivable from affiliate:
Collections	7,800	7,700
Loans	(6,800)	(7,100)
Purchases of marketable securities	(32,824)
Net cash provided by (used in) investing activities	(24,094)	(1,117)
Cash flows from financing activities:
Dividends paid	(3,417)	(3,416)
Dividends paid to noncontrolling interests in subsidiary	(388)	(406)
Net cash used in financing activities	(3,805)	(3,822)
Cash and cash equivalents and restricted cash and cash equivalents - net change from:
Operating, investing and financing activities	(20,621)	(1,944)
Balance at beginning of year	97,502	175,242
Balance at end of year	76,881	173,298
Supplemental disclosures - cash paid for:
Interest	12	6
Income taxes, net	$ 171	$ 9

Organization and basis of presentation

3 Months Ended

Mar. 31, 2023

Summary of Significant Accounting Policies and Organization and Basis of Presentation

Organization and basis of presentation

Note 1 – Organization and basis of presentation:

Organization – At March 31, 2023, 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 March 31, 2023 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.

Basis of presentation – Consolidated in this Quarterly Report are the results of our majority-owned subsidiary, CompX International Inc. We also own approximately 31% of Kronos Worldwide, Inc. (Kronos). CompX (NYSE American: CIX) and Kronos (NYSE: KRO) each file periodic reports with the Securities and Exchange Commission (SEC).

The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2022 that we filed with the SEC on March 8, 2023 (the “2022 Annual Report”). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments) in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet at December 31, 2022 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2022) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Our results of operations for the interim period ended March 31, 2023 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2022 Consolidated Financial Statements contained in our 2022 Annual Report.

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

Accounts and other receivables, net

3 Months Ended

Mar. 31, 2023

Accounts and other receivables, net

Accounts and other receivables, net

Note 2 – Accounts and other receivables, net:


	December 31,		March 31,
	2022		2023

	(In thousands)
Trade receivables - CompX	$	17,910	$	18,751
Other receivables		30		32
Allowance for doubtful accounts		(70)		(70)
Total	$	17,870	$	18,713

Inventories, net

3 Months Ended

Mar. 31, 2023

Inventories, net

Inventories, net

Note 3 – Inventories, net:


	December 31,		March 31,
	2022		2023

	(In thousands)
Raw materials	$	6,245	$	6,014
Work in process		19,983		19,337
Finished products		5,062		4,884
Total	$	31,290	$	30,235

Marketable securities

3 Months Ended

Mar. 31, 2023

Marketable securities

Marketable securities

Note 4 – 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 period-end valuation is generally based on the last trade of the period, which may be several days prior to the end of the period).

Our noncurrent marketable securities consist of our investment 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, 2022
Current assets
Fixed income securities	2	$	70,164	$	70,226		(62)
Noncurrent assets
Valhi common stock	1	$	26,350	$	24,347	$	2,003

March 31, 2023
Current assets
Fixed income securities	2	$	95,688	$	95,830	$	(142)
Noncurrent assets
Valhi common stock	1	$	20,852	$	24,347	$	(3,495)

At December 31, 2022 and March 31, 2023, we held approximately 1.2 million shares of common stock of our immediate parent company, Valhi, Inc. At December 31, 2022 and March 31, 2023, the quoted per share market price of Valhi common stock was $22.00 and $17.41, respectively.

The Valhi common stock we own is subject to 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 receive dividends from Valhi on these shares, when declared and paid.

Investment in Kronos Worldwide, Inc.

3 Months Ended

Mar. 31, 2023

Investment in Kronos Worldwide, Inc.

Investment in Kronos Worldwide, Inc.

Note 5 – Investment in Kronos Worldwide, Inc.:

At December 31, 2022 and March 31, 2023, we owned approximately 35.2 million shares of Kronos common stock. At March 31, 2023, the quoted market price of Kronos’ common stock was $9.21 per share, or an aggregate market value of $324.4 million. At December 31, 2022, the quoted market price was $9.40 per share, or an aggregate market value of $331.1 million.

The change in the carrying value of our investment in Kronos during the first three months of 2023 is summarized below.


	Amount
	(In millions)
Balance at the beginning of the period	$	292.2
Equity in loss of Kronos		(4.6)
Dividends received from Kronos		(6.7)
Equity in Kronos' other comprehensive income (loss):
Currency translation		(2.1)
Defined benefit pension plans		.1
Other		(.4)
Balance at the end of the period	$	278.5

Selected financial information of Kronos is summarized below:


	December 31,		March 31,
	2022		2023

	(In millions)
Current assets	$	1,242.2	$	1,135.1
Property and equipment, net		484.5		489.9
Investment in TiO₂ joint venture		112.9		113.6
Other noncurrent assets		94.8		92.9
Total assets	$	1,934.4	$	1,831.5

Current liabilities	$	326.7	$	259.7
Long-term debt		424.1		433.5
Accrued pension costs		128.6		129.3
Other noncurrent liabilities		97.8		96.9
Stockholders’ equity		957.2		912.1
Total liabilities and stockholders’ equity	$	1,934.4	$	1,831.5


	Three months ended
	March 31,
	2022		2023

	(In millions)
Net sales	$	562.9	$	426.3
Cost of sales		413.6		395.5
Income (loss) from operations		83.3		(18.3)
Income tax expense (benefit)		18.3		(6.9)
Net income (loss)		57.5		(15.2)

Other assets, net

3 Months Ended

Mar. 31, 2023

Other assets, net

Other assets, net

Note 6 – Other assets, net:


	December 31,		March 31,
	2022		2023

	(In thousands)
Pension asset	$	1,105	$	1,183
Other		1,418		1,708
Total	$	2,523	$	2,891

Accrued and other current liabilities

3 Months Ended

Mar. 31, 2023

Accrued and other current liabilities

Accrued and other current liabilities

Note 7 – Accrued and other current liabilities:


	December 31,		March 31,
	2022		2023

	(In thousands)
Employee benefits	$	11,023	$	5,723
Other		2,365		2,626
Total	$	13,388	$	8,349

Long-term debt

3 Months Ended

Mar. 31, 2023

Long-term debt

Long-term debt

Note 8 – Long-term debt:

During the first three months of 2023, our wholly-owned subsidiary, NLKW Holding, LLC had no borrowings or repayments under its $50 million secured revolving credit facility with Valhi. At March 31, 2023, $.5 million was outstanding and $49.5 million was available for future borrowing under this facility. Outstanding borrowings bear interest at the prime rate plus 1.875% per annum, and the average interest rate for the three months ended March 31, 2023 was 9.56%. The interest rate under this facility as of March 31, 2023 was 9.88%. We are in compliance with all covenants at March 31, 2023.

Revenue recognition

3 Months Ended

Mar. 31, 2023

Revenue recognition

Revenue recognition

Note 10 – Revenue recognition:

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.


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Net sales:
Security Products	$	29,581	$	27,342
Marine Components		12,469		13,809
Total	$	42,050	$	41,151

- Definition

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

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+ Details

Employee benefit plans

3 Months Ended

Mar. 31, 2023

Employee benefit plans

Employee benefit plans

Note 11 – Employee benefit plans:

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


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Interest cost	$	297	$	450
Expected return on plan assets		(392)		(414)
Recognized actuarial losses		373		358
Total	$	278	$	394

We currently expect our 2023 contributions to our defined benefit pension plans to be approximately $1.2 million.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Other noncurrent liabilities

3 Months Ended

Mar. 31, 2023

Other noncurrent liabilities

Other noncurrent liabilities

Note 9 – Other noncurrent liabilities:


	December 31,		March 31,
	2022		2023

	(In thousands)
Reserve for uncertain tax positions	$	2,714	$	2,714
OPEB		637		607
Insurance claims and expenses		625		535
Other		303		349
Total	$	4,279	$	4,205

Income taxes

3 Months Ended

Mar. 31, 2023

Income taxes

Income taxes

Note 12 – Income taxes:


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Expected tax expense (benefit), at U.S. federal statutory income tax rate of 21%	$	4,602	$	(949)
Rate differences on equity in earnings of Kronos, net of dividends		(1,914)		2,305
U.S. state income taxes and other, net		17		65
Income tax expense	$	2,705	$	1,421

Comprehensive provision for income taxes allocable to:
Net income	$	2,705	$	1,421
Additional paid-in capital		116		(92)
Other comprehensive income (loss):
Currency translation		420		(443)
Pension plans		232		104
Other		(18)		(34)
Total	$	3,455	$	956

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 $6.7 million in each of the first three months of 2022 and 2023. The amounts shown in the above table of our income tax rate reconciliation for rate differences on equity in earnings (losses) of Kronos represent the income tax expense (benefit) associated with the nontaxable dividends we received from Kronos compared to the amount of deferred income taxes we recognized on our equity in earnings (losses) of Kronos.

- 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.

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+ Details

Stockholders' equity

3 Months Ended

Mar. 31, 2023

Stockholders' equity

Stockholders' equity

Note 13 – Stockholders’ equity:

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 5), are presented in the table below.


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Accumulated other comprehensive loss, (net of tax and noncontrolling interest):
Currency translation:
Balance at beginning of period	$	(171,235)	$	(178,191)
Other comprehensive income (loss)		1,580		(1,666)
Balance at end of period	$	(169,655)	$	(179,857)

Defined benefit pension plans:
Balance at beginning of period	$	(68,468)	$	(43,857)
Other comprehensive income -
Amortization of prior service cost and net losses included in net periodic pension cost		873		393
Balance at end of period	$	(67,595)	$	(43,464)

OPEB plans and other:
Balance at beginning of period	$	(1,053)	$	(893)
Other comprehensive loss -
Amortization of net gain included in net periodic OPEB cost		(68)		(60)
Balance at end of period	$	(1,121)	$	(953)

Marketable debt securities:
Balance at beginning of period	$	—	$	(50)
Other comprehensive loss - unrealized loss arising during the period		—		(44)
Balance at end of period	$	—	$	(94)

Total accumulated other comprehensive loss:
Balance at beginning of period	$	(240,756)	$	(222,991)
Other comprehensive income (loss)		2,385		(1,377)
Balance at end of period	$	(238,371)	$	(224,368)

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

- 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

Commitments and contingencies

3 Months Ended

Mar. 31, 2023

Commitments and contingencies

Commitments and contingencies

Note 14 – Commitments and contingencies:

General

We are involved in various environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to our current and former businesses. At least quarterly our management discusses and evaluates the status of any pending litigation or claim to which we are a party or which has been asserted against us. The factors considered in such evaluation include, among other things, the nature of such pending cases and claims, the status of such pending cases and claims, the advice of legal counsel and our experience in similar cases and claims (if any). Based on such evaluation, we make a determination as to whether we believe (i) it is probable a loss has been incurred, and if so if the amount of such loss (or a range of loss) is reasonably estimable, or (ii) it is reasonably possible but not probable a loss has been incurred, and if so, if the amount of such loss (or a range of loss) is reasonably estimable, or (iii) the probability a loss has been incurred is remote.

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 terms of the County of Santa Clara v. Atlantic Richfield Company, et al. (Superior Court of the State of California, County of Santa Clara, Case No. 1-00-CV-788657) global settlement agreement, we have three annual installment payments remaining ($12.0 million for the next two installments and $16.7 million for the final installment). Our final installment will be made with funds already on deposit at the court, which are included in noncurrent restricted cash on our Condensed Consolidated Balance Sheets, that are committed to the settlement, including all accrued interest at the date of payment, with any remaining balance to be paid by us (and any amounts on deposit in excess of the final payment would be returned to us). See Note 16 to our 2022 Annual Report.

New cases may continue to be filed against us. We do not know if we will incur liability in the future in respect to any of the pending or possible litigation in view of the inherent uncertainties involved in court and jury rulings. In the future, if new information regarding such matters becomes available to us (such as a final, non-appealable adverse verdict against 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.

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.

Changes in the accrued environmental remediation and related costs during the first three months of 2023 are as follows:


	Amount
	(In thousands)

Balance at the beginning of the period	$	92,358
Additions charged to expense, net		—
Payments, net		(836)
Balance at the end of the period	$	91,522

Amounts recognized in the Condensed Consolidated
Balance Sheet at the end of the period:
Current liability	$	1,889
Noncurrent liability		89,633
Balance at the end of the period	$	91,522

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 March 31, 2023, 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 $118 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 March 31, 2023, 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 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. 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.

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

Other litigation

In addition to the litigation described above, we and our affiliates are also involved in various other environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to 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.

Financial instruments and fair value measurements

3 Months Ended

Mar. 31, 2023

Financial instruments and fair value measurements

Financial instruments and fair value measurements

Note 15 – Financial instruments:

See Note 4 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:

December 31, 2022

March 31, 2023

Carrying

Fair

Carrying

Fair

amount

value

amount

value

(In thousands)

Cash, cash equivalents and restricted cash

97,502

76,881

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)	3 Months Ended
Organization and basis of presentation (Policies)	Mar. 31, 2023
Summary of Significant Accounting Policies and Organization and Basis of Presentation
Organization	Organization – At March 31, 2023, 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 March 31, 2023 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.
Basis of presentation	Basis of presentation – Consolidated in this Quarterly Report are the results of our majority-owned subsidiary, CompX International Inc. We also own approximately 31% of Kronos Worldwide, Inc. (Kronos). CompX (NYSE American: CIX) and Kronos (NYSE: KRO) each file periodic reports with the Securities and Exchange Commission (SEC). The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2022 that we filed with the SEC on March 8, 2023 (the “2022 Annual Report”). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments) in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet at December 31, 2022 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2022) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Our results of operations for the interim period ended March 31, 2023 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2022 Consolidated Financial Statements contained in our 2022 Annual Report. Unless otherwise indicated, references in this report to “NL,” “we,” “us” or “our” refer to NL Industries, Inc. and its subsidiaries and affiliate, Kronos, taken as a whole.

Accounts and other receivables, net (Tables)

3 Months Ended

Mar. 31, 2023

Accounts and other receivables, net

Schedule of Accounts Notes Loans and Financing Receivable


	December 31,		March 31,
	2022		2023

	(In thousands)
Trade receivables - CompX	$	17,910	$	18,751
Other receivables		30		32
Allowance for doubtful accounts		(70)		(70)
Total	$	17,870	$	18,713

Inventories, net (Tables)

3 Months Ended

Mar. 31, 2023

Inventories, net

Schedule of Inventories, Net


	December 31,		March 31,
	2022		2023

	(In thousands)
Raw materials	$	6,245	$	6,014
Work in process		19,983		19,337
Finished products		5,062		4,884
Total	$	31,290	$	30,235

Marketable securities (Tables)

3 Months Ended

Mar. 31, 2023

Marketable securities

Schedule of Marketable Securities


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

		(In thousands)
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

March 31, 2023
Current assets
Fixed income securities	2	$	95,688	$	95,830	$	(142)
Noncurrent assets
Valhi common stock	1	$	20,852	$	24,347	$	(3,495)

Investment in Kronos Worldwide, Inc. (Tables)

3 Months Ended

Mar. 31, 2023

Investment in Kronos Worldwide, Inc.

Changes in Carrying Value of Investment


	Amount
	(In millions)
Balance at the beginning of the period	$	292.2
Equity in loss of Kronos		(4.6)
Dividends received from Kronos		(6.7)
Equity in Kronos' other comprehensive income (loss):
Currency translation		(2.1)
Defined benefit pension plans		.1
Other		(.4)
Balance at the end of the period	$	278.5

Selected Financial Information of Kronos Balance Sheet


	December 31,		March 31,
	2022		2023

	(In millions)
Current assets	$	1,242.2	$	1,135.1
Property and equipment, net		484.5		489.9
Investment in TiO₂ joint venture		112.9		113.6
Other noncurrent assets		94.8		92.9
Total assets	$	1,934.4	$	1,831.5

Current liabilities	$	326.7	$	259.7
Long-term debt		424.1		433.5
Accrued pension costs		128.6		129.3
Other noncurrent liabilities		97.8		96.9
Stockholders’ equity		957.2		912.1
Total liabilities and stockholders’ equity	$	1,934.4	$	1,831.5

Selected Financial Information of Kronos Income Statement

Other assets, net (Tables)

3 Months Ended

Mar. 31, 2023

Other assets, net

Schedule of Other Assets, Net


	December 31,		March 31,
	2022		2023

	(In thousands)
Pension asset	$	1,105	$	1,183
Other		1,418		1,708
Total	$	2,523	$	2,891

Accrued and other current liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Accrued and other current liabilities

Schedule of Accrued and Other Current Liabilities


	December 31,		March 31,
	2022		2023

	(In thousands)
Employee benefits	$	11,023	$	5,723
Other		2,365		2,626
Total	$	13,388	$	8,349

Revenue recognition (Tables)

3 Months Ended

Mar. 31, 2023

Revenue recognition

Schedule of Disaggregates Net Sales By Reporting Unit


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Net sales:
Security Products	$	29,581	$	27,342
Marine Components		12,469		13,809
Total	$	42,050	$	41,151

Employee benefit plans (Tables)

3 Months Ended

Mar. 31, 2023

Employee benefit plans

Components of Net Periodic Defined Benefit Cost (Income)


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Interest cost	$	297	$	450
Expected return on plan assets		(392)		(414)
Recognized actuarial losses		373		358
Total	$	278	$	394

Other noncurrent liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Other noncurrent liabilities

Summary of Other Noncurrent Liabilities


	December 31,		March 31,
	2022		2023

	(In thousands)
Reserve for uncertain tax positions	$	2,714	$	2,714
OPEB		637		607
Insurance claims and expenses		625		535
Other		303		349
Total	$	4,279	$	4,205

Income taxes (Tables)

3 Months Ended

Mar. 31, 2023

Income taxes

Component of Income Taxes


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Expected tax expense (benefit), at U.S. federal statutory income tax rate of 21%	$	4,602	$	(949)
Rate differences on equity in earnings of Kronos, net of dividends		(1,914)		2,305
U.S. state income taxes and other, net		17		65
Income tax expense	$	2,705	$	1,421

Comprehensive provision for income taxes allocable to:
Net income	$	2,705	$	1,421
Additional paid-in capital		116		(92)
Other comprehensive income (loss):
Currency translation		420		(443)
Pension plans		232		104
Other		(18)		(34)
Total	$	3,455	$	956

Stockholders' equity (Tables)

3 Months Ended

Mar. 31, 2023

Stockholders' equity

Schedule of Changes in Accumulated Other Comprehensive Loss


	Three months ended
	March 31,
	2022		2023

	(In thousands)
Accumulated other comprehensive loss, (net of tax and noncontrolling interest):
Currency translation:
Balance at beginning of period	$	(171,235)	$	(178,191)
Other comprehensive income (loss)		1,580		(1,666)
Balance at end of period	$	(169,655)	$	(179,857)

Defined benefit pension plans:
Balance at beginning of period	$	(68,468)	$	(43,857)
Other comprehensive income -
Amortization of prior service cost and net losses included in net periodic pension cost		873		393
Balance at end of period	$	(67,595)	$	(43,464)

OPEB plans and other:
Balance at beginning of period	$	(1,053)	$	(893)
Other comprehensive loss -
Amortization of net gain included in net periodic OPEB cost		(68)		(60)
Balance at end of period	$	(1,121)	$	(953)

Marketable debt securities:
Balance at beginning of period	$	—	$	(50)
Other comprehensive loss - unrealized loss arising during the period		—		(44)
Balance at end of period	$	—	$	(94)

Total accumulated other comprehensive loss:
Balance at beginning of period	$	(240,756)	$	(222,991)
Other comprehensive income (loss)		2,385		(1,377)
Balance at end of period	$	(238,371)	$	(224,368)

Commitments and contingencies (Tables)

3 Months Ended

Mar. 31, 2023

Commitments and contingencies

Changes in Accrued Environmental Remediation and Related Costs


	Amount
	(In thousands)

Balance at the beginning of the period	$	92,358
Additions charged to expense, net		—
Payments, net		(836)
Balance at the end of the period	$	91,522

Amounts recognized in the Condensed Consolidated
Balance Sheet at the end of the period:
Current liability	$	1,889
Noncurrent liability		89,633
Balance at the end of the period	$	91,522

Financial instruments and fair value measurements (Tables)

3 Months Ended

Mar. 31, 2023

Financial instruments and fair value measurements

Summary of Financial Instruments Not Carried at Fair Value

December 31, 2022

March 31, 2023

Carrying

Fair

Carrying

Fair

amount

value

amount

value

(In thousands)

Cash, cash equivalents and restricted cash

97,502

76,881

Organization and basis of presentation - Additional Information (Detail)	Mar. 31, 2023
Kronos
Significant Accounting Policies [Line Items]
Parent company ownership interest	31.00%
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%

Accounts and other receivables, net - Schedule of Accounts Notes Loans and Financing Receivable (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Other receivables	$ 32	$ 30
Total	18,713	17,870
CompX
Receivables [Abstract]
Trade receivables	18,751	17,910
Allowance for doubtful accounts	$ (70)	$ (70)

Inventories, net - Schedule of Inventories, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventories, net
Raw materials	$ 6,014	$ 6,245
Work in process	19,337	19,983
Finished products	4,884	5,062
Total	$ 30,235	$ 31,290

Marketable securities - Schedule of Marketable Securities (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Market value, Current assets	$ 95,688	$ 70,164
Market value, Noncurrent assets	20,852	26,350
Level 1 \| Valhi Inc \| Common stock
Schedule Of Available For Sale Securities [Line Items]
Market value, Noncurrent assets	20,852	26,350
Cost or amortized cost, Noncurrent assets	24,347	24,347
Unrealized Gain (Loss) on Noncurrent Marketable Securities	(3,495)	2,003
Level 2 \| Fixed income securities
Schedule Of Available For Sale Securities [Line Items]
Market value, Current assets	95,688	70,164
Cost or amortized cost, Current assets	95,830	70,226
Unrealized gain (loss), Current assets	$ (142)	$ (62)

Marketable securities - Additional Information (Detail) - Valhi Inc - Common stock - $ / shares shares in Millions	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Number of shares owned	1.2
Quoted marked price per share	$ 17.41	$ 22.00

Investment in Kronos Worldwide, Inc. - Additional Information (Detail) - Kronos - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Number of shares owned	35.2
Aggregate market value	$ 324.4	$ 331.1
Quoted market price per share	$ 9.21	$ 9.40

Investment in Kronos Worldwide, Inc. - Changes in Carrying Value of Investment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Balance at the beginning of the period	$ 292,206
Equity in earnings of Kronos Worldwide, Inc.	(4,637)	$ 17,533
Dividends received from Kronos	(6,692)	$ (6,692)
Equity in Kronos' other comprehensive income (loss):
Balance at the end of the period	278,449
Kronos
Balance at the beginning of the period	292,200
Equity in earnings of Kronos Worldwide, Inc.	(4,600)
Dividends received from Kronos	(6,700)
Equity in Kronos' other comprehensive income (loss):
Currency translation	(2,100)
Defined benefit pension plans	100
Other	(400)
Balance at the end of the period	$ 278,500

Investment in Kronos Worldwide, Inc. - Selected Financial Information of Kronos Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Current assets	$ 198,639	$ 193,968
Property and equipment, net	27,914	28,694
Other noncurrent assets	2,891	2,523
Total assets	593,971	609,867
Current liabilities	26,720	32,052
Accrued pension costs	3,063	3,012
Other	4,205	4,279
Stockholders' equity	370,294	382,150
Total liabilities and equity	593,971	609,867
Kronos
Schedule Of Equity Method Investments [Line Items]
Current assets	1,135,100	1,242,200
Property and equipment, net	489,900	484,500
Investment in TiO2 joint venture	113,600	112,900
Other noncurrent assets	92,900	94,800
Total assets	1,831,500	1,934,400
Current liabilities	259,700	326,700
Long-term debt	433,500	424,100
Accrued pension costs	129,300	128,600
Other	96,900	97,800
Stockholders' equity	912,100	957,200
Total liabilities and equity	$ 1,831,500	$ 1,934,400

Investment in Kronos Worldwide, Inc. - Selected Financial Information of Kronos Income Statement (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Net sales	$ 41,151	$ 42,050
Cost of sales	28,447	29,970
Income from operations	4,197	3,870
Income tax expense (benefit)	1,421	2,705
Net income	(6,716)	18,557
Kronos
Schedule Of Equity Method Investments [Line Items]
Net sales	426,300	562,900
Cost of sales	395,500	413,600
Income from operations	(18,300)	83,300
Income tax expense (benefit)	(6,900)	18,300
Net income	$ (15,200)	$ 57,500

- 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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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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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Other assets, net - Schedule of Other Assets, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Other assets, net
Pension asset	$ 1,183	$ 1,105
Other	1,708	1,418
Total	$ 2,891	$ 2,523

Accrued and other current liabilities - Schedule of Accrued and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accrued and other current liabilities
Employee benefits	$ 5,723	$ 11,023
Other	2,626	2,365
Total	$ 8,349	$ 13,388

Long-term debt - Additional Information (Detail) - NLKW Holding, LLC - Valhi - Valhi Credit Facility	3 Months Ended
	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Maximum borrowing under credit facility	$ 50,000,000
Borrowings or repayments under revolving credit facility	0
Outstanding borrowing	500,000
Amount available for future borrowing under revolving credit facility	$ 49,500,000
Debt instrument, description of variable rate basis	prime rate
Variable rate basis spread above reference rate	1.875%
Debt instrument average interest rate	9.56%
Debt instrument interest rate	9.88%

Revenue recognition - Schedule of Disaggregates Net Sales By Reporting Unit (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 41,151	$ 42,050
Security Products
Disaggregation Of Revenue [Line Items]
Net sales	27,342	29,581
Marine Components
Disaggregation Of Revenue [Line Items]
Net sales	$ 13,809	$ 12,469

- Definition

+ References

+ Details

Employee benefit plans - Components of Net Periodic Defined Benefit Cost (Income) (Detail) - Defined Benefit Pension Plans - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 450	$ 297
Expected return on plan assets	(414)	(392)
Recognized actuarial losses	358	373
Total	$ 394	$ 278

Employee benefit plans - Additional Information (Detail) $ in Millions	Mar. 31, 2023 USD ($)
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution during 2022	$ 1.2

Other noncurrent liabilities - Summary of Other Noncurrent Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Other noncurrent liabilities
Reserve for uncertain tax positions	$ 2,714	$ 2,714
OPEB	607	637
Insurance claims and expenses	535	625
Other	349	303
Total	$ 4,205	$ 4,279

Income taxes - Component of Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income taxes
Expected tax expense, at U.S. federal statutory income tax rate of 21%	$ (949)	$ 4,602
Rate differences on equity in earnings of Kronos, net of dividends	2,305	(1,914)
U.S. state income taxes and other, net	65	17
Income tax expense	$ 1,421	$ 2,705

- 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	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Comprehensive provision for income taxes allocable to:
Net income	$ 1,421	$ 2,705
Additional paid-in capital	(92)	116
Other comprehensive income:
Currency translation	(443)	420
Other	(34)	(18)
Total	956	3,455
Defined Benefit Pension Plans
Other comprehensive income:
Defined benefit plans	$ 104	$ 232

- Definition

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

+ References + Details

Income taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Income Tax Disclosure [Line Items]
Dividends received from Kronos Worldwide, Inc.	$ 6,692	$ 6,692
Uncertain tax position	2,714		$ 2,714
Income tax expense (benefit)	(1,421)	(2,705)
Current payable to affiliate	$ 665		$ 665
Kronos
Income Tax Disclosure [Line Items]
Dividends received from Kronos Worldwide, Inc.		$ 6,700

- Definition

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

+ References + Details

Stockholders' equity - Schedule of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	$ 382,150
Other comprehensive income (loss)	(44)
Balance at end of period	370,294
Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(178,191)	$ (171,235)
Other comprehensive income (loss)	(1,666)	1,580
Balance at end of period	(179,857)	(169,655)
Accumulated Defined Benefit Plans Adjustment \| Defined Benefit Pension Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(43,857)	(68,468)
Other comprehensive income (loss)	393	873
Balance at end of period	(43,464)	(67,595)
Accumulated Defined Benefit Plans Adjustment \| OPEB
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(893)	(1,053)
Other comprehensive income (loss)	(60)	(68)
Balance at end of period	(953)	(1,121)
Marketable Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(50)
Balance at end of period	(94)
Accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(222,991)	(240,756)
Other comprehensive income (loss)	(1,377)	2,385
Balance at end of period	$ (224,368)	$ (238,371)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
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-Section 55
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-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

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-Name Accounting Standards Codification
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-Section S99
-Paragraph 2
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Commitments and contingencies - Changes in Accrued Environmental Remediation and Related Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Commitments and contingencies
Balance at the beginning of the period	$ 92,358
Payments, net	(836)
Balance at the end of the period	91,522
Amounts recognized in the Condensed Consolidated Balance Sheet at the end of the period:
Current liability	1,889	$ 2,627
Noncurrent liability	$ 89,633	$ 89,731

Commitments and contingencies - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) site case	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Commitments and Contingent Liabilities [Line Items]
Recognized accretion expense	$ 187	$ 239
Long-term litigation settlement	27,557		$ 27,427
Accrual for reasonably estimable environmental remediation and related matters	91,522		$ 92,358
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	$ 118,000
Lead Pigment Litigation
Commitments and Contingent Liabilities [Line Items]
Period by which loss contingency claims settled and dismissed	30 years
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	$ 16,700
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	Mar. 31, 2023	Dec. 31, 2022
Carrying amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash, Carrying amount	$ 76,881	$ 97,502
Fair value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash, Fair value	$ 76,881	$ 97,502