Valhi Inc. Files Q3 2024 10-Q, Details Litigation

TL;DR

Valhi's Q3 10-Q is out. Watch out for lead paint litigation.

AI Summary

Valhi Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial condition and operations, including details related to its subsidiaries NL Industries, Inc. and Kronos International, Inc. The filing also addresses ongoing litigation, specifically the CALeadPaintLitigation and LeadPigmentLitigation.

Why It Matters

This filing provides insight into Valhi's financial health and operational status, including potential liabilities from ongoing legal disputes that could impact its future performance.

Risk Assessment

Risk Level: medium — The company faces ongoing litigation, which presents a significant financial and operational risk.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20241107 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• VALHI INC /DE/ (company) — Filer
• NL Industries, Inc. (company) — Subsidiary
• Kronos International, Inc. (company) — Subsidiary
• CALeadPaintLitigation (litigation) — Legal Matter
• LeadPigmentLitigation (litigation) — Legal Matter

FAQ

Filing Documents

• vhl-20240930x10q.htm (10-Q) — 2750KB
• vhl-20240930xex31d1.htm (EX-31.1) — 14KB
• vhl-20240930xex31d2.htm (EX-31.2) — 14KB
• vhl-20240930xex32d1.htm (EX-32.1) — 6KB
• 0001558370-24-014868.txt ( ) — 11897KB
• vhl-20240930.xsd (EX-101.SCH) — 75KB
• vhl-20240930_cal.xml (EX-101.CAL) — 112KB
• vhl-20240930_def.xml (EX-101.DEF) — 393KB
• vhl-20240930_lab.xml (EX-101.LAB) — 639KB
• vhl-20240930_pre.xml (EX-101.PRE) — 526KB
• vhl-20240930x10q_htm.xml (XML) — 2391KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets – December 31, 2023 and September 30, 2024 (unaudited) 3 Condensed Consolidated Statements of Operations (unaudited) – Three and nine months ended September 30, 2023 and 2024 5 Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) – Three and nine months ended September 30, 2023 and 2024 6 Condensed Consolidated Statements of Stockholders' Equity (unaudited) – Three and nine months ended September 30, 2023 and 2024 7 Condensed Consolidated Statements of Cash Flows (unaudited) – Nine months ended September 30, 2023 and 2024 8 Notes to Condensed Consolidated Financial Statements (unaudited) 10 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 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 50 Item 4.

Controls and Procedures

Controls and Procedures 50 Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 51 Item 1A.

Risk Factors

Risk Factors 51 Item 6. Exhibits 52 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, September 30, 2023 2024 (unaudited) Current assets: Cash and cash equivalents $ 407.0 $ 314.6 Restricted cash equivalents 22.6 44.7 Marketable securities 56.1 2.1 Accounts and other receivables, net 340.4 394.7 Inventories, net 596.1 577.4 Prepaid expenses and other 53.2 72.5 Total current assets 1,475.4 1,406.0 Other assets: Marketable securities 4.8 5.3 Investment in TiO 2 manufacturing joint venture 111.0 — Goodwill 379.7 382.3 Deferred income taxes 67.0 68.8 Other assets 181.8 173.5 Total other assets 744.3 629.9 Property and equipment: Land 45.1 77.2 Buildings 271.2 297.9 Equipment 1,179.4 1,382.3 Mining properties 89.2 85.3 Construction in progress 23.6 33.6 1,608.5 1,876.3 Less accumulated depreciation and amortization 1,091.2 1,125.0 Net property and equipment 517.3 751.3 Total assets $ 2,737.0 $ 2,787.2 3 Table of Contents VALHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (In millions) LIABILITIES AND STOCKHOLDERS' EQUITY December 31, September 30, 2023 2024 (unaudited) Current liabilities: Current maturities of long-term debt $ .7 $ 84.7 Accounts payable and accrued liabilities 490.7 401.3 Income taxes 15.7 17.7 Total current liabilities 507.1 503.7 Noncurrent liabilities: Long-term debt 545.8 526.6 Accrued pension costs 151.6 144.8 Accrued environmental remediation and related costs 93.2 92.8 Deferred income taxes 17.1 40.4 Payable to affiliate - income taxes 18.5 — Other liabilities 127.5 112.3 Total noncurrent liabilities 953.7 916.9 Equity: Preferred stock — — C

View Full Filing

View this 10-Q filing on SEC EDGAR