Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Measurements of Financial Instruments

The following table summarizes the valuation of our short-term investments and financial instruments by the ASC Topic 820 categories as of December 31, 2012 and 2013:

	Fair Value Measurements
	Total			Quoted Prices in Active Markets (Level 1)			Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In millions)
Asset (liability)
December 31, 2012:
Marketable securities:
Current	$	.9		$	—		$	.9	$	—
Noncurrent		256.8			3.5			3.3		250.0
Currency forward contracts		1.8			1.8			—		—
December 31, 2013:
Marketable securities:
Current	$	3.8		$	2.4		$	1.4	$	—
Noncurrent		253.3			1.4			1.9		250.0
Currency forward contracts		(1.0	)		(1.0	)		—		—

Financial Instruments not Carried at Fair Value

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2012 and 2013:

	December 31,
	2012				2013
	Carryingamount		Fairvalue		Carryingamount		Fairvalue
	(In millions)
Cash, cash equivalents and restricted cash equivalents	$	395.9	$	395.9	$	186.8	$	186.8
Deferred payment obligation		—		—		8.2		8.2
Long-term debt (excluding capitalized leases):
Kronos note payable to Contran	$	—	$	—	$	170.0	$	170.0
Kronos term loan		384.5		396.8		—		—
Snake River Sugar Company fixed rate loans		250.0		250.0		250.0		250.0
WCS fixed rate debt		77.1		77.1		72.4		72.4
Valhi Contran credit facility		157.6		157.6		206.5		206.5
Kronos variable rate bank credit facilities		13.2		13.2		11.1		11.1
CompX variable rate promissory note		18.5		18.5		—		—
Tremont promissory note		—		—		19.1		19.1
BMI bank note payable		—		—		11.2		11.2
Landwell note payable to the City of Henderson		—		—		3.1		3.1
Noncontrolling interest in:
Kronos common stock	$	267.0	$	442.6	$	241.9	$	431.6
NL common stock		77.8		94.8		74.5		92.6
CompX common stock		13.3		23.4		13.6		23.1
Valhi stockholders’ equity	$	733.6	$	4,238.9	$	601.3	$	5,961.7