Long-Term Debt

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Note 7 – Long-term debt:

	December 31,		September 30,
	2022		2023
	(In millions)
Valhi:
Contran credit facility	$	121.4	$	97.7
Subsidiary debt:
Kronos:
Senior Notes		424.1		422.5
LandWell:
Note payable to Western Alliance Business Trust		12.9		12.5
Other		1.1		.7
Total subsidiary debt		438.1		435.7
Total debt		559.5		533.4
Less current maturities		1.8		1.4
Total long-term debt	$	557.7	$	532.0

Valhi – Contran credit facility – During the first nine months of 2023, we had no borrowings and repaid $23.7 million under this facility. The average interest rate on the credit facility for the nine months ended September 30, 2023 was 9.09%. At September 30, 2023, the interest rate was 9.50% and $77.3 million was available for borrowing under this facility.

Kronos – Senior Notes – At September 30, 2023, the carrying value of Kronos’ 3.75% Senior Secured Notes due September 15, 2025 (€400 million aggregate principal amount outstanding) is stated net of unamortized debt issuance costs of $1.7 million.

Revolving credit facility – During the first nine months of 2023, Kronos had no borrowings or repayments under its $225 million global revolving credit facility and at September 30, 2023, the full $225 million was available for borrowing.

Other – We are in compliance with all of our debt covenants at September 30, 2023.