Price | 2.00 | EPS | 0 | |
Shares | 342 | P/E | 8 | |
MCap | 684 | P/FCF | 6 | |
Net Debt | 226 | EBIT | 153 | |
TEV | 910 | TEV/EBIT | 6 | TTM 2019-09-30, in MM, except price, ratios |
10-Q | 2020-09-30 | Filed 2020-11-05 |
10-Q | 2020-06-30 | Filed 2020-08-06 |
10-Q | 2020-03-31 | Filed 2020-05-07 |
10-K | 2019-12-31 | Filed 2020-03-12 |
10-Q | 2019-09-30 | Filed 2019-11-08 |
10-Q | 2019-06-30 | Filed 2019-08-08 |
10-Q | 2019-03-31 | Filed 2019-05-09 |
10-K | 2018-12-31 | Filed 2019-03-11 |
10-Q | 2018-09-30 | Filed 2018-11-08 |
10-Q | 2018-06-30 | Filed 2018-08-08 |
10-Q | 2018-03-31 | Filed 2018-05-09 |
10-K | 2017-12-31 | Filed 2018-03-15 |
10-Q | 2017-09-30 | Filed 2017-11-09 |
10-Q | 2017-06-30 | Filed 2017-08-08 |
10-Q | 2017-03-31 | Filed 2017-05-09 |
10-K | 2016-12-31 | Filed 2017-03-13 |
10-Q | 2016-09-30 | Filed 2016-11-08 |
10-Q | 2016-06-30 | Filed 2016-08-08 |
10-Q | 2016-03-31 | Filed 2016-05-09 |
10-K | 2015-12-31 | Filed 2016-03-11 |
10-Q | 2015-09-30 | Filed 2015-11-06 |
10-Q | 2015-06-30 | Filed 2015-08-07 |
10-Q | 2015-03-31 | Filed 2015-05-08 |
10-K | 2014-12-31 | Filed 2015-03-13 |
10-Q | 2014-09-30 | Filed 2014-11-07 |
10-Q | 2014-06-30 | Filed 2014-08-08 |
10-Q | 2014-03-31 | Filed 2014-05-09 |
10-K | 2013-12-31 | Filed 2014-03-17 |
10-Q | 2013-09-30 | Filed 2013-11-08 |
10-Q | 2013-06-30 | Filed 2013-08-09 |
10-Q | 2013-03-31 | Filed 2013-05-10 |
10-K | 2012-12-31 | Filed 2013-03-15 |
10-Q | 2012-09-30 | Filed 2012-11-06 |
10-Q | 2012-06-30 | Filed 2012-08-09 |
10-Q | 2012-03-31 | Filed 2012-05-09 |
10-K | 2011-12-31 | Filed 2012-03-07 |
10-Q | 2011-09-30 | Filed 2011-11-03 |
10-Q | 2011-06-30 | Filed 2011-08-04 |
10-Q | 2011-03-31 | Filed 2011-05-05 |
10-K | 2010-12-31 | Filed 2011-03-09 |
10-Q | 2010-09-30 | Filed 2010-11-05 |
10-Q | 2010-06-30 | Filed 2010-08-05 |
10-Q | 2010-03-31 | Filed 2010-05-06 |
10-K | 2009-12-31 | Filed 2010-03-10 |
8-K | 2020-11-05 | |
8-K | 2020-08-10 | |
8-K | 2020-08-06 | |
8-K | 2020-05-29 | |
8-K | 2020-05-28 | |
8-K | 2020-05-07 | |
8-K | 2020-04-24 | |
8-K | 2020-04-22 | |
8-K | 2020-03-13 | |
8-K | 2020-03-12 | |
8-K | 2020-02-27 | |
8-K | 2019-11-08 | |
8-K | 2019-10-31 | |
8-K | 2019-09-03 | |
8-K | 2019-08-08 | |
8-K | 2019-07-16 | |
8-K | 2019-05-23 | |
8-K | 2019-05-23 | |
8-K | 2019-05-09 | |
8-K | 2019-03-18 | |
8-K | 2019-03-11 | |
8-K | 2019-02-28 | |
8-K | 2018-11-08 | |
8-K | 2018-11-01 | |
8-K | 2018-08-31 | |
8-K | 2018-08-08 | |
8-K | 2018-05-30 | |
8-K | 2018-05-24 | |
8-K | 2018-05-09 | |
8-K | 2018-03-19 | |
8-K | 2018-03-15 | |
8-K | 2018-03-01 | |
8-K | 2018-01-26 |
Note 1 - Organization and Basis of Presentation: |
Note 2 - Business Segment Information: |
Note 3 - Accounts and Other Receivables, Net: |
Note 4 - Inventories, Net: |
Note 5 - Other Assets: |
Note 6 - Long - Term Debt: |
Note 7 - Accounts Payable and Accrued Liabilities: |
Note 8 - Other Noncurrent Liabilities: |
Note 9 - Revenue - Disaggregation of Sales: |
Note 10 - Defined Benefit Pension Plans: |
Note 11 - Other Income, Net: |
Note 12 - Income Taxes: |
Note 13 - Noncontrolling Interest in Subsidiaries: |
Note 14 - Stockholders' Equity: |
Note 15 - Commitments and Contingencies: |
Note 16 - Fair Value Measurements and Financial Instruments: |
Note 17 - Recent Accounting Pronouncements: |
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |
Item 3. Quantitative and Qualitative Disclosures About Market Risk |
Item 4. Controls and Procedures |
Part II. Other Information |
Item 1. Legal Proceedings. |
Item 1A. Risk Factors. |
Item 6. Exhibits. |
EX-3.1 | vhi-ex31_150.htm |
EX-31.1 | vhi-ex311_14.htm |
EX-31.2 | vhi-ex312_12.htm |
EX-32.1 | vhi-ex321_13.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
Assets, Equity
|
Rev, G Profit, Net Income
|
Ops, Inv, Fin
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended
OR
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number
(Exact name of Registrant as specified in its charter)
|
| |
(State or other jurisdiction of incorporation or organization) |
| (IRS Employer Identification No.) |
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|
(Address of principal executive office)
Registrant’s telephone number, including area code: (
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
| Trading Symbol(s) |
| Name of each exchange on which registered |
|
| |
| |
Indicate by check mark:
Whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Whether the Registrant is a large accelerated filer, an accelerated filer, non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer,” smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Act.
Large accelerated filer |
| ☐ |
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| ☒ |
Non-accelerated filer |
| ☐ |
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| Smaller reporting company |
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Emerging growth company |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes
Number of shares of the registrant’s common stock, $.01 par value per share, outstanding on October 30, 2020:
VALHI, INC. AND SUBSIDIARIES
INDEX
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Part I. |
| FINANCIAL INFORMATION |
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| Condensed Consolidated Balance Sheets – December 31, 2019 and September 30, 2020 (unaudited) |
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| Notes to Condensed Consolidated Financial Statements (unaudited) |
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| Management’s Discussion and Analysis of Financial Condition and Results of Operations |
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Part II. |
| OTHER INFORMATION |
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| Item 1. |
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| Item 1A. |
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| Item 6. |
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Items 2, 3, 4 and 5 of Part II are omitted because there is no information to report.
VALHI, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
| December 31, |
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| September 30, |
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| 2019 |
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| 2020 |
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| (unaudited) |
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ASSETS |
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Current assets: |
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Cash and cash equivalents | $ | |
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| $ | |
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Restricted cash equivalents |
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Marketable securities |
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Accounts and other receivables, net |
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Inventories, net |
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Other current assets |
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Total current assets |
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Other assets: |
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Investment in TiO2 manufacturing joint venture |
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Goodwill |
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Deferred income taxes |
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Other assets |
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Total other assets |
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Property and equipment: |
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Land |
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Buildings |
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Equipment |
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Mining properties |
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Construction in progress |
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Less accumulated depreciation and amortization |
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Net property and equipment |
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Total assets | $ | |
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| $ | |
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- 3 -
VALHI, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(In millions)
| December 31, |
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| September 30, |
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| 2019 |
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| 2020 |
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| (unaudited) |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Current liabilities: |
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Current maturities of long-term debt | $ | |
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| $ | |
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Accounts payable and accrued liabilities |
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Income taxes |
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Total current liabilities |
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Noncurrent liabilities: |
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Long-term debt |
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Deferred income taxes |
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Payable to affiliate - income taxes |
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Accrued pension costs |
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Accrued environmental remediation and related costs |
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Other liabilities |
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Total noncurrent liabilities |
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Equity: |
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Valhi stockholders' equity: |
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Preferred stock |
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| - |
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Common stock |
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Additional paid-in capital |
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Retained earnings |
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Accumulated other comprehensive loss |
| ( | ) |
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| ( | ) |
Treasury stock, at cost |
| ( | ) |
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| ( | ) |
Total Valhi stockholders' equity |
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Noncontrolling interest in subsidiaries |
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Total equity |
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Total liabilities and equity | $ | |
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| $ | |
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Commitments and contingencies (Notes 12 and 15)
See accompanying Notes to Condensed Consolidated Financial Statements.
- 4 -
VALHI, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share data)
|
| Three months ended |
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| Nine months ended |
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| September 30, |
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| September 30, |
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| 2019 |
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| 2020 |
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| 2019 |
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| 2020 |
| ||||
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| (unaudited) |
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Revenues and other income: |
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Net sales |
| $ | |
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| $ | |
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| $ | |
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| $ | |
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Other, net |
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Total revenues and other income |
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Costs and expenses: |
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Cost of sales |
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Selling, general and administrative |
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Litigation settlement, net |
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| ( | ) |
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| - |
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| - |
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Other components of net periodic pension and OPEB expense |
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Interest |
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Total costs and expenses |
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Income before income taxes |
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Income tax expense (benefit) |
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| ( | ) |
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Net income |
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Noncontrolling interest in net income of subsidiaries |
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Net income attributable to Valhi stockholders |
| $ | |
|
| $ | |
|
| $ | |
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| $ | |
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Amounts attributable to Valhi stockholders: |
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Basic and diluted net income per share |
| $ | |
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| $ | |
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| $ | |
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| $ | |
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Basic and diluted weighted average shares outstanding |
| $ | |
|
| $ | |
|
| $ | |
|
| $ | |
|
See accompanying Notes to Condensed Consolidated Financial Statements.
- 5 -
VALHI, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)
|
| Three months ended |
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| Nine months ended |
| ||||||||||
|
| September 30, |
|
| September 30, |
| ||||||||||
|
| 2019 |
|
| 2020 |
|
| 2019 |
|
| 2020 |
| ||||
|
| (unaudited) |
| |||||||||||||
Net income |
| $ | |
|
| $ | |
|
| $ | |
|
| $ | |
|
Other comprehensive income (loss), net of tax: |
|
|
|
|
|
|
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|
|
|
|
|
|
|
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Currency translation |
|
| ( | ) |
|
| |
|
|
| ( | ) |
|
| ( | ) |
Defined benefit pension plans |
|
| |
|
|
| |
|
|
| |
|
|
| |
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Other |
|
| ( | ) |
|
| - |
|
|
| ( | ) |
|
| ( | ) |
Total other comprehensive income (loss), net |
|
| ( | ) |
|
| |
|
|
| ( | ) |
|
| ( | ) |
Comprehensive income |
|
| |
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| |
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| |
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Comprehensive income attributable to noncontrolling interest |
|
| |
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| |
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| |
|
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| |
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Comprehensive income attributable to Valhi stockholders |
| $ | |
|
| $ | |
|
| $ | |
|
| $ | |
|
See accompanying Notes to Condensed Consolidated Financial Statements.
- 6 -
VALHI, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In millions)
| Three months ended September 30, 2019 and 2020 (unaudited) |
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| Accumulated |
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| |
|
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| Additional |
|
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| other |
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| Non- |
|
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|
|
| |||
| Preferred |
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| Common |
|
| paid-in |
|
| Retained |
|
| comprehensive |
|
| Treasury |
|
| controlling |
|
|
|
|
| |||||||
| stock |
|
| stock |
|
| capital |
|
| earnings |
|
| loss |
|
| stock |
|
| interest |
|
| Total |
| ||||||||
|
|
|
|
|
|
| |||||||||||||||||||||||||
Balance at June 30, 2019 | $ | |
|
| $ | |
|
| $ | |
|
| $ | |
|
| $ | ( | ) |
| $ | ( | ) |
| $ | |
|
| $ | |
|
Net income |
| - |
|
|
| - |
|
|
| - |
|
|
| |
|
|
| - |
|
|
| - |
|
|
| |
|
|
| |
|
Other comprehensive loss, net |
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| ( | ) |
|
| - |
|
|
| ( | ) |
|
| ( | ) |
Dividends paid to noncontrolling interest |
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| ( | ) |
|
| ( | ) |
Cash dividends - $ |
| - |
|
|
| - |
|
|
| - |
|
|
| ( | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| ( | ) |
Equity transactions with noncontrolling interest, net and other |
| - |
|
|
| - |
|
|
| - |
|
|
| ( | ) |
|
| - |
|
|
| - |
|
|
| ( | ) |
|
| ( |