Valhi Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Valhi Inc. submitted its Q1 2024 10-Q, detailing financial positions and equity changes, with specific references to NL Industries and Kronos International's debt.</b>

AI Summary

VALHI INC /DE/ (VHI) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Valhi Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing includes financial data related to NL Industries Inc. and its subsidiaries, including Kronos International. Key financial statement information such as Accounts Payable and Accrued Liabilities, and Other Liabilities (Noncurrent) are referenced. The report details equity components including Common Stock, Additional Paid-In Capital, Retained Earnings, Treasury Stock, and Noncontrolling Interest as of March 31, 2024, and December 31, 2023. Specific debt instruments of Kronos International, including Senior Secured Notes, are mentioned in relation to redemption periods and dates.

Why It Matters

For investors and stakeholders tracking VALHI INC /DE/, this filing contains several important signals. This filing provides a snapshot of Valhi Inc.'s financial health and operational status for the first quarter of 2024, crucial for investors assessing performance and future outlook. The detailed breakdown of equity and debt instruments, particularly those related to subsidiaries like Kronos International, offers insights into the company's capital structure and financial obligations.

Risk Assessment

Risk Level: medium — VALHI INC /DE/ shows moderate risk based on this filing. The company operates in industries with potential for litigation and market volatility, as indicated by references to lead paint litigation and specific debt instruments.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-Q to understand the company's current financial standing and potential liabilities.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly period ended)
• 2024-05-09 — Filing Date (Date the report was filed)
• 0000059255 — Central Index Key (Company identifier)
• 2810 — SIC Code (Industrial Inorganic Chemicals)

Key Players & Entities

• VALHI INC /DE/ (company) — Filer
• NL Industries Inc (company) — Subsidiary
• Kronos International (company) — Subsidiary
• 2024-03-31 (date) — Period of Report
• 2024-05-09 (date) — Filed as of Date
• DALLAS (location) — Business Address City
• DE (location) — State of Incorporation
• 9722331700 (phone) — Business Phone

FAQ

Risk Factors

• Lead Paint Litigation [high — legal]: The company is involved in litigation related to lead paint, specifically mentioning NL Industries Inc. and its involvement in California lead paint litigation.
• Debt Instruments [medium — financial]: References to specific senior secured notes of Kronos International, including redemption periods and due dates, indicate potential financial obligations and refinancing activities.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2024-05-09: Filing Date — Date the 10-Q was officially submitted to the SEC

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive update on the company's financial performance and position during the specified quarter.)

Filing Documents

• vhl-20240331x10q.htm (10-Q) — 1842KB
• vhl-20240331xex31d1.htm (EX-31.1) — 14KB
• vhl-20240331xex31d2.htm (EX-31.2) — 14KB
• vhl-20240331xex32d1.htm (EX-32.1) — 6KB
• 0001558370-24-007618.txt (&nbsp;) — 8850KB
• vhl-20240331.xsd (EX-101.SCH) — 68KB
• vhl-20240331_cal.xml (EX-101.CAL) — 77KB
• vhl-20240331_def.xml (EX-101.DEF) — 332KB
• vhl-20240331_lab.xml (EX-101.LAB) — 551KB
• vhl-20240331_pre.xml (EX-101.PRE) — 451KB
• vhl-20240331x10q_htm.xml (XML) — 1611KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets – December 31, 2023 and March 31, 2024 (unaudited) 3 Condensed Consolidated Statements of Operations (unaudited) – Three months ended March 31, 2023 and 2024 5 Condensed Consolidated Statements of Comprehensive Loss (unaudited) – Three months ended March 31, 2023 and 2024 6 Condensed Consolidated Statements of Stockholders' Equity (unaudited) – Three months ended March 31, 2023 and 2024 7 Condensed Consolidated Statements of Cash Flows (unaudited) – Three months ended March 31, 2023 and 2024 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41 Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 6. Exhibits 42 Items 2, 3, 4 and 5 of Part II are omitted because there is no information to report. Table of Contents VALHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) ASSETS December 31, March 31, 2023 2024 (unaudited) Current assets: Cash and cash equivalents $ 407.0 $ 341.0 Restricted cash equivalents 22.6 26.3 Marketable securities 56.1 31.7 Accounts and other receivables, net 340.4 377.8 Inventories, net 596.1 504.1 Prepaid expenses and other 53.2 47.6 Total current assets 1,475.4 1,328.5 Other assets: Marketable securities 4.8 5.5 Investment in TiO 2 manufacturing joint venture 111.0 108.7 Goodwill 379.7 379.7 Deferred income taxes 67.0 66.1 Other assets 181.8 175.9 Total other assets 744.3 735.9 Property and equipment: Land 45.1 43.7 Buildings 271.2 263.2 Equipment 1,179.4 1,147.0 Mining properties 89.2 81.7 Construction in progress 23.6 22.6 1,608.5 1,558.2 Less accumulated depreciation and amortization 1,091.2 1,063.8 Net property and equipment 517.3 494.4 Total assets $ 2,737.0 $ 2,558.8 3 Table of Contents VALHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (In millions) LIABILITIES AND STOCKHOLDERS' EQUITY December 31, March 31, 2023 2024 (unaudited) Current liabilities: Current maturities of long-term debt $ .7 $ .7 Accounts payable and accrued liabilities 490.7 366.8 Income taxes 15.7 17.7 Total current liabilities 507.1 385.2 Noncurrent liabilities: Long-term debt 545.8 511.2 Deferred income taxes 31.8 30.0 Payable to affiliate - income taxes 18.5 18.5 Accrued pension costs 151.6 145.1 Accrued environmental remediation and related costs 93.2 93.1 Other liabilities 127.5 125.9 Total noncurrent liabilities 968.4 923.8 Equity: Preferred stock — — Com

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View this 10-Q filing on SEC EDGAR