Valhi Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Valhi Inc. has filed its 2023 10-K report detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

VALHI INC /DE/ (VHI) filed a Annual Report (10-K) with the SEC on March 7, 2024. Valhi Inc. filed its 2023 Form 10-K on March 7, 2024. The filing covers the fiscal year ending December 31, 2023. The company's SIC code is 2810 (Industrial Inorganic Chemicals). Valhi Inc. is incorporated in Delaware. The company's principal business address is in Dallas, Texas.

Why It Matters

For investors and stakeholders tracking VALHI INC /DE/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Valhi Inc.'s financial health, operational activities, and strategic positioning for the past fiscal year, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial data and risk factors disclosed in the 10-K are essential for understanding the company's compliance with regulatory requirements and its ability to navigate market challenges.

Risk Assessment

Risk Level: medium — VALHI INC /DE/ shows moderate risk based on this filing. The company operates in the industrial inorganic chemicals sector, which can be subject to market volatility, regulatory changes, and environmental concerns, as indicated by its SIC code and the nature of chemical manufacturing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Valhi Inc.'s financial stability and operational risks for the 2023 fiscal year.

Key Numbers

• 20231231 — Fiscal Year End (Fiscal year end date)
• 136 — Public Document Count (Number of public documents in the filing)
• 001-05467 — SEC File Number (SEC file number for Valhi Inc.)
• 24730327 — Film Number (Film number for the filing)

Key Players & Entities

• VALHI INC /DE/ (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240307 (date) — Filed as of date
• DALLAS (location) — Business address city
• TX (location) — Business address state
• 0000059255 (company) — Central Index Key
• 2810 (industry) — Standard Industrial Classification
• DE (location) — State of incorporation

FAQ

Industry Context

Valhi Inc. operates within the industrial inorganic chemicals sector, a segment characterized by the production of essential chemicals used in various industrial processes.

Regulatory Implications

The filing adheres to the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and operations.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the risk factors section for potential challenges and uncertainties facing the company.
3. Examine any disclosures related to related-party transactions or significant contractual agreements.

Key Dates

• 2024-03-07: Filing Date — Submission of the 2023 Form 10-K
• 2023-12-31: Fiscal Year End — Period covered by the 10-K report

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023. Previous filings would provide comparative data for prior periods.

Filing Documents

• vhl-20231231x10k.htm (10-K) — 4676KB
• vhl-20231231xex10d23.htm (EX-10.23) — 55KB
• vhl-20231231xex21d1.htm (EX-21.1) — 35KB
• vhl-20231231xex23d1.htm (EX-23.1) — 4KB
• vhl-20231231xex31d1.htm (EX-31.1) — 11KB
• vhl-20231231xex31d2.htm (EX-31.2) — 11KB
• vhl-20231231xex32d1.htm (EX-32.1) — 8KB
• vhl-20231231xex97.htm (EX-97) — 132KB
• vhl-20231231x10k008.jpg (GRAPHIC) — 67KB
• 0001558370-24-002728.txt (&nbsp;) — 21983KB
• vhl-20231231.xsd (EX-101.SCH) — 125KB
• vhl-20231231_cal.xml (EX-101.CAL) — 136KB
• vhl-20231231_def.xml (EX-101.DEF) — 694KB
• vhl-20231231_lab.xml (EX-101.LAB) — 1037KB
• vhl-20231231_pre.xml (EX-101.PRE) — 910KB
• vhl-20231231x10k_htm.xml (XML) — 4979KB

BUSINESS

ITEM 1. BUSINESS Valhi, Inc. (NYSE: VHI) is primarily a holding company. We operate through our wholly-owned and majority-owned subsidiaries, including NL Industries, Inc., Kronos Worldwide, Inc., CompX International Inc., Basic Management, Inc. and The LandWell Company. Kronos (NYSE: KRO), NL (NYSE: NL) and CompX (NYSE American: CIX) each file periodic reports with the U.S. Securities and Exchange Commission (SEC). Our principal executive offices are located at Three Lincoln Center 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240-2620. Our telephone number is (972) 233-1700. We maintain a website at www.valhi.net. Brief History LLC Corporation, our legal predecessor, was incorporated in Delaware in 1932. We are the successor company of the 1987 merger of LLC Corporation and another entity controlled by Contran Corporation. One of Contran's wholly-owned subsidiaries held approximately 91% of Valhi's outstanding common stock at December 31, 2023. As discussed in Note 1 to our Consolidated Financial Statements, Lisa K. Simmons and a trust established for the benefit of Ms. Simmons and her late sister and their children (the "Family Trust") may be deemed to control Contran and us. Key events in our history include: 1979 – Contran acquires control of LLC; 1981 – Contran acquires control of our other predecessor company; 1982 – Contran acquires control of Keystone Consolidated Industries, Inc., a predecessor to CompX; 1984 – Keystone spins-off an entity that includes what is to become CompX; this entity subsequently merges with LLC; 1986 – Contran acquires control of NL, which at the time owns 100% of Kronos; 1987 – LLC and another Contran controlled company merge to form Valhi, our current corporate structure; 2003 – NL completes the spin-off of Kronos through the pro-rata distribution of Kronos shares to its shareholders including us; 2004 through 2005 – NL distributes Kronos shares to its shareholders, including us, through quarterly dividends; 2010 – K

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements in this Annual Report that are not historical facts are forward-looking in nature and represent management's beliefs and assumptions based on currently available information. In some cases, you can identify forward-looking statements by the use of words such as "believes," "intends," "may," "should," "could," "anticipates," "expects" or comparable terminology, or by discussions of strategies or trends. Although we believe the expectations reflected in such forward-looking statements are reasonable, we do not know if these expectations will be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results. Actual future results could differ materially from those predicted. The factors that could cause actual future results to differ materially from those described herein are the risks and uncertainties discussed in this Annual Report and those described from time to time in our other filings with the SEC and include, but are not limited to, the following: Future supply and demand for our products; The extent of the dependence of certain of our businesses on certain market sectors; The cyclicality of certain of our businesses (such as Kronos' TiO 2 operations); Customer and producer inventory levels; Unexpected or earlier-than-expected industry capacity expansion (such as the TiO 2 industry); Changes in raw material and other operating costs (such as ore, zinc, brass, aluminum, steel and energy costs); Changes in the availability of raw materials (such as ore); General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy costs, reduce demand or perceived demand for TiO 2, component products and land held for development or i

View Full Filing

View this 10-K filing on SEC EDGAR