Note 8—Long-term debt:


	December 31, 2011		September 30, 2012
	(In thousands)
NL:
Promissory note payable to Valhi	$	4,100	$	5,600
Promissory note issued in conjunction with litigation settlement		9,000		5,100

Subtotal		13,100		10,700

Subsidiary debt:
CompX credit facility		1,955		2,035
CompX promissory note payable to TIMET		22,230		20,480

Subtotal		24,185		22,515

Total debt		37,285		33,215
Less current maturities		10,000		11,700

Total long-term debt	$	27,285	$	21,515

NL—During the first nine months of 2012, we borrowed a net $1.5 million under our promissory note with Valhi. The interest rate on our outstanding borrowings from Valhi as of and for the nine months ended September 30, 2012 was 6.00%.

Following the May 2012 third and final closing associated with certain real property we formerly owned in New Jersey, we prepaid an aggregate $3.9 million under the promissory note issued in conjunction with a litigation settlement. The interest rate on the outstanding balance of this indebtedness was 3.25% as of and for the nine months ended September 30, 2012. See Note 12.

CompX—CompX repaid an aggregate of $1.8 million on the promissory note payable to TIMET during the first nine months of 2012, including a principal prepayment of $1.0 million. The average interest rate on the promissory note payable to TIMET as of and for the nine-month period ended September 30, 2012 was 1.5%. The average interest rate on the revolving bank credit facility as of and for the nine months ended September 30, 2012 was 3.3% and 3.6%, respectively.