Marketable Securities

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Marketable Securities

Note 4 - Marketable securities:

Our marketable securities consist of investments in the publicly-traded shares of our related party, Valhi. Our marketable securities are accounted for as available-for-sale securities, which are carried at fair value using quoted market prices in active markets for each marketable security and represent a Level 1 input within the fair value hierarchy. Unrealized gains or losses on equity securities are recognized in Other income (expense) - Marketable equity securities on our Condensed Consolidated Statements of Operations.

	Fair value
	measurement	Market		Cost		Unrealized
Marketable security	level	value		basis		loss
		(In millions)
December 31, 2022:
Valhi common stock	1	$	3.2	$	3.2	$	-
March 31, 2023:
Valhi common stock	1	$	2.5	$	3.2	$	(.7)

At December 31, 2022 and March 31, 2023, we held approximately 144,000 shares of Valhi’s common stock. At December 31, 2022 and March 31, 2023, the per share quoted market price of Valhi’s common stock was $22.00 and $17.41, respectively.

The Valhi common stock we own is subject to the restrictions on resale pursuant to certain provisions of the Securities and Exchange Commission (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.