Business segment information (Tables)

9 Months Ended

Sep. 30, 2012

Holding Percentage of Subsidiaries

Business segment	Entity	% controlled  at September 30, 2012
Chemicals	Kronos		80	%
Component products	CompX		87	%
Waste management	WCS		100	%

Segment Operating Performance

	Three months  ended September 30,						Nine months ended September 30,
	2011			2012			2011			2012
	(In millions)
Net sales:
Chemicals	$	547.9		$	472.9		$	1,505.9		$	1,579.5
Component products		35.8			37.1			105.8			110.2
Waste management		.4			14.5			1.2			16.5
Total net sales	$	584.1		$	524.5		$	1,612.9		$	1,706.2
Cost of sales:
Chemicals	$	337.7		$	387.5		$	953.5		$	1,070.5
Component products		27.2			27.0			78.7			80.6
Waste management		6.5			8.7			18.4			24.4
Total cost of sales	$	371.4		$	423.2		$	1,050.6		$	1,175.5
Gross margin:
Chemicals	$	210.2		$	85.4		$	552.4		$	509.0
Component products		8.6			10.1			27.1			29.6
Waste management		(6.1	)		5.8			(17.2	)		(7.9	)
Total gross margin	$	212.7		$	101.3		$	562.3		$	530.7
Operating income (loss):
Chemicals	$	158.4		$	40.4		$	407.8		$	364.1
Component products		1.5			4.4			13.4			11.2
Waste management		(9.7	)		(1.0	)		(27.9	)		(21.9	)
Total operating income		150.2			43.8			393.3			353.4
Equity in earnings of investee		(.1	)		(.1	)		(.3	)		(.1	)
General corporate items:
Securities earnings		6.6			7.3			21.4			21.5
Insurance recoveries		16.1			1.2			16.6			2.6
Litigation settlement gain		—			—			—			14.7
General expenses, net		(9.2	)		(7.9	)		(32.6	)		(37.4	)
Gain (loss)on prepayment of debt		.1			—			(3.2	)		(7.2	)
Interest expense		(15.2	)		(14.6	)		(48.3	)		(42.5	)
Income before income taxes	$	148.5		$	29.7		$	346.9		$	305.0