Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Short-term Investments and Financial Instruments Carried at Fair Value

The following table summarizes the valuation of our short-term investments and financial instruments by the ASC Topic 820 categories as of December 31, 2018 and 2019:

	Fair Value Measurements
	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)
	(In millions)
Asset (liability)
December 31, 2018:
Marketable securities:
Current	$	2.5	$	-	$	2.5
Noncurrent		4.8		1.6		3.2
December 31, 2019:
Marketable securities:
Current	$	2.1	$	-	$	2.1
Noncurrent		6.2		1.3		4.9

Financial Instruments not Carried at Fair Value

 Other -The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2018 and 2019:

	December 31, 2018				December 31, 2019
	Carrying amount		Fair value		Carrying amount		Fair value
	(In millions)
Cash, cash equivalents and restricted cash equivalents	$	523.7	$	523.7	$	583.8	$	583.8
Deferred payment obligation		9.6		9.6		9.9		9.9
Long-term debt (excluding capitalized leases):
Kronos Senior Notes		452.4		412.9		442.6		457.0
Valhi credit facility with Contran		314.3		314.3		313.0		313.0
Tremont promissory note payable		9.4		9.4		2.0		2.0
BMI bank note payable		18.0		18.8		17.2		17.9
LandWell note payable to the City of Henderson		2.1		2.1		1.6		1.6
LandWell bank note payable		-		-		15.0		15.0