Other Noncurrent Assets

9 Months Ended

Sep. 30, 2011

Other Noncurrent Assets

Other Noncurrent Assets

Note 6 – Other noncurrent assets:

	December 31, 2010		September 30, 2011
	(In millions)
Investment in affiliates:
TiO2 manufacturing joint venture, Louisiana Pigment Company, L.P. ("LPC")	$	96.2	$	94.1
Other		17.0		16.7
Total	$	113.2	$	110.8
Other assets:
Waste disposal site operating permits, net	$	58.8	$	64.9
Assets held for sale		3.0		7.3
IBNR receivables		6.6		6.8
Capital lease deposit		6.2		6.2
Deferred financing costs		4.5		2.5
Other intangible assets		.8		2.3
Pension asset		.3		.3
Other		23.2		60.9
Total	$	103.4	$	151.2

In September 2011 our Component Products Segment's management made the decision to sell its Byron Center facility, at which time such facility met all of the criteria under GAAP to be classified as an "asset held for sale." In classifying the facility (land and building) as held for sale, we concluded that the carrying amount of the assets exceeded the estimated fair value less costs to sell such assets. In determining the estimated fair value, Compx obtained an independent appraisal. Based on this appraisal, we recognized a write-down of $.9 million during the third quarter of 2011 to reduce the carrying value of the asset to its estimated fair value less cost to sell.

At September 30, 2011 substantially all of our assets held for sale consisted of properties owned by our Component Products Segment. The Byron Center facility discussed above and two additional properties (primarily land, building and building improvements) formerly used in its operations. These assets were classified as "assets held for sale" when they ceased to be used in our operations and met all of the applicable criteria under GAAP. During the third quarter of 2011, due to continued negative local market conditions CompX obtained an updated independent appraisal for the River Grove facility, the most significant of these other two properties. Based on this appraisal, we recognized an additional write-down of $.2 million during the third quarter of 2011 to reduce the carrying value of that asset to its estimated fair value less cost to sell.