Business and geographic segments (Tables)

12 Months Ended

Dec. 31, 2012

Holding Percentage of Subsidiaries

Business segment	Entity	% controlled at December 31,  2012
Chemicals	Kronos	80%
Component products	CompX	87%
Waste management	WCS	100%

Segment Operating Performance

	Years ended December 31,
	2010			2011			2012
	(In millions)
Net sales:
Chemicals	$	1,449.7		$	1,943.3		$	1,976.3
Component products		76.1			79.8			83.2
Waste management		7.7			2.0			27.8
Total net sales	$	1,533.5		$	2,025.1		$	2,087.3
Cost of sales:
Chemicals	$	1,106.7		$	1,197.5		$	1,418.2
Component products		53.7			55.6			58.9
Waste management		23.9			25.3			35.0
Total cost of sales	$	1,184.3		$	1,278.4		$	1,512.1
Gross margin:
Chemicals	$	343.0		$	745.8		$	558.1
Component products		22.4			24.2			24.3
Waste management		(16.2	)		(23.3	)		(7.2	)
Total gross margin	$	349.2		$	746.7		$	575.2
Operating income (loss):
Chemicals	$	183.2		$	553.0		$	366.8
Component products		5.9			6.4			5.4
Waste management		(30.8	)		(38.0	)		(26.8	)
Total operating income		158.3			521.4			345.4
Equity in earnings of joint venture General corporate items:		(.4	)		(.5	)		(.2	)
Securities earnings		26.3			28.6			50.2
Insurance recoveries		18.8			16.9			3.3
Litigation settlement gains		6.3			—			14.7
Gain on sale of excess property		—			—			3.2
Litigation settlement expense		(32.2	)		—			—
Goodwill impairment		—			—			(6.4	)
General expenses, net		(29.9	)		(40.7	)		(45.3	)
Loss on prepayment of debt, net		—			(3.1	)		(7.2	)
Interest expense		(68.4	)		(61.8	)		(56.3	)
Income from continuing operations before income taxes	$	78.8		$	460.8		$	301.4
Depreciation and amortization:
Chemicals	$	47.4		$	50.2		$	50.4
Component products*		7.7			6.8			5.8
Waste management		7.0			6.8			13.2
Total	$	62.1		$	63.8		$	69.4
Capital expenditures:
Chemicals	$	37.7		$	68.6		$	74.9
Component products*		2.1			3.2			4.3
Waste management		4.9			74.3			19.6
Corporate		—			.1			—
Total	$	44.7		$	146.2		$	98.8

Total Assets Held by Business Segments

December 31,
	2010		2011		2012
	(In millions)
Total assets:
Operating segments:
Chemicals	$	2,101.4	$	2,189.7	$	2,401.1
Component products**		141.5		141.4		82.3
Waste management		166.4		223.4		265.0
Joint venture accounted for by the equity method		17.0		16.5		16.2
Corporate and eliminations		288.0		267.0		405.9
Total	$	2,714.3	$	2,838.0	$	3,170.5

* Includes discontinued operations for 2010, 2011 and 2012, see Note 3.

** Includes discontinued operations for 2010 and 2011, see Note 3.

Net Sales by Point of Origin and Point of Destination

Years ended December 31,
	2010			2011			2012
	(In millions)
Net sales—point of origin:
United States	$	648.5		$	831.4		$	1,153.8
Germany		714.2			1,039.7			977.7
Canada		245.4			301.7			339.1
Norway		188.3			245.1			284.0
Belgium		209.1			301.8			272.9
Eliminations		(472.0	)		(694.6	)		(940.2	)
Total	$	1,533.5		$	2,025.1		$	2,087.3
Net sales—point of destination:
North America	$	499.4		$	578.2		$	760.7
Europe		822.2			1,141.3			1,011.4
Asia and other		211.9			305.6			315.2
Total	$	1,533.5		$	2,025.1		$	2,087.3

Net Property and Equipment by Segment

December 31,
	2010		2011		2012
	(In millions)
Net property and equipment:
United States**	$	120.1	$	189.0	$	211.9
Germany		267.8		259.6		271.2
Canada**		80.4		80.0		73.0
Norway		100.5		101.5		109.5
Belgium		69.4		86.0		97.5
Taiwan**		7.9		7.7		—
Total	$	646.1	$	723.8	$	763.1

** Includes discontinued operations for 2010 and 2011, see Note 3.