CompX International (CIX) 10-Q 1 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-13905
Entity Registrant Name	COMPX INTERNATIONAL INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	57-0981653
Entity Address, Address Line One	5430 LBJ Freeway
Entity Address, Address Line Two	Suite 1700
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240-2620
City Area Code	972
Local Phone Number	448-1400
Title of 12(b) Security	Class A common stock
Trading Symbol	CIX
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,313,757
Entity Central Index Key	0001049606
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 17,595	$ 26,748
Marketable securities	46,774	33,147
Accounts receivable, net	19,735	17,840
Inventories, net	34,282	31,290
Prepaid expenses and other	2,152	2,136
Total current assets	120,538	111,161
Other assets:
Note receivable from affiliate	12,000	13,200
Goodwill	23,742	23,742
Other noncurrent assets	738	590
Total other assets	36,480	37,532
Property and equipment:
Land	5,390	5,390
Buildings	23,181	23,181
Equipment	74,486	74,113
Construction in progress	512	722
Gross property and equipment	103,569	103,406
Less accumulated depreciation	77,347	74,712
Net property and equipment	26,222	28,694
Total assets	183,240	177,387
Current liabilities:
Accounts payable and accrued liabilities	15,047	15,618
Income taxes payable to affiliate	1,351	1,035
Total current liabilities	16,398	16,653
Noncurrent liabilities:
Deferred income taxes	1,651	2,230
Other	43	68
Total noncurrent liabilities	1,694	2,298
Stockholders' equity:
Preferred stock	0	0
Additional paid-in capital	53,275	53,155
Retained earnings	111,839	105,175
Unrealized loss arising during year, net	(89)	(17)
Total stockholders' equity	165,148	158,436
Total liabilities and stockholders' equity	183,240	177,387
Commitments and contingencies (Note 1)
Class A Common Stock
Stockholders' equity:
Common stock	$ 123	$ 123

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Net sales	$ 40,355	$ 42,864	$ 118,122	$ 126,589
Cost of sales	27,736	30,928	82,526	88,944
Gross margin	12,619	11,936	35,596	37,645
Selling, general and administrative expense	6,074	6,016	17,644	17,674
Operating income	6,545	5,920	17,952	19,971
Interest income	1,064	558	3,003	1,109
Income before income taxes	7,609	6,478	20,955	21,080
Provision for income taxes	1,852	1,528	5,058	4,970
Net income	5,757	4,950	15,897	16,110
Other comprehensive loss, marketable securities adjustment:
Unrealized loss arising during year, net	30	0	(72)	0
Comprehensive income	$ 5,787	$ 4,950	$ 15,825	$ 16,110
Net income per basic share	$ 0.47	$ 0.40	$ 1.29	$ 1.30
Net income per diluted share	$ 0.47	$ 0.40	$ 1.29	$ 1.30
Weighted average shares outstanding - basic	12,314	12,307	12,310	12,352
Weighted average shares outstanding - diluted	12,314	12,307	12,310	12,352

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock Class A Common Stock	Additional paid-in Capital	Retained Earnings	Accumulated other comprehensive loss	Treasury Stock	Total
Balance at Dec. 31, 2021	$ 124	$ 54,780	$ 118,184			$ 173,088
Net income			16,110			16,110
Issuance of common stock		118				118
Cash dividends			(30,803)			(30,803)
Treasury stock:
Acquired					$ (1,744)	(1,744)
Retired	(1)	(1,743)			$ 1,744
Balance at Sep. 30, 2022	123	53,155	103,491			156,769
Balance at Jun. 30, 2022	123	53,155	123,155			176,433
Net income			4,950			4,950
Cash dividends			(24,614)			(24,614)
Balance at Sep. 30, 2022	123	53,155	103,491			156,769
Balance at Dec. 31, 2022	123	53,155	105,175	$ (17)		158,436
Net income			15,897			15,897
Issuance of common stock		120				120
Other comprehensive loss				(72)		(72)
Cash dividends			(9,233)			(9,233)
Balance at Sep. 30, 2023	123	53,275	111,839	(89)		165,148
Balance at Jun. 30, 2023	123	53,275	109,160	(119)		162,439
Net income			5,757			5,757
Other comprehensive loss				30		30
Cash dividends			(3,078)			(3,078)
Balance at Sep. 30, 2023	$ 123	$ 53,275	$ 111,839	$ (89)		$ 165,148

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends per share	$ 0.25	$ 2	$ 0.75	$ 2.50

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 15,897	$ 16,110
Depreciation and amortization	2,996	2,962
Deferred income taxes	(556)	(742)
Noncash interest income	(1,397)	0
Other, net	332	287
Change in assets and liabilities:
Accounts receivable, net	(1,900)	(3,634)
Inventories, net	(3,199)	(7,846)
Accounts payable and accrued liabilities	(526)	1,454
Accounts with affiliates	316	(347)
Prepaids and other, net	(194)	(122)
Net cash provided by operating activities	11,769	8,122
Cash flows from investing activities:
Capital expenditures	(564)	(3,008)
Purchases	(36,325)	0
Proceeds from maturities	24,000	131
Note receivable from affiliate:
Collections	21,900	21,100
Advances	(20,700)	(17,100)
Net cash used in investing activities	(11,689)	1,123
Cash flows from financing activities:
Dividends paid	(9,233)	(30,803)
Treasury stock acquired	0	(1,744)
Net cash used in financing activities	(9,233)	(32,547)
Cash and cash equivalents - net change from:
Operating, investing and financing activities	(9,153)	(23,302)
Balance at beginning of period	26,748	76,579
Balance at end of period	17,595	53,277
Supplemental disclosures -
Cash paid for income taxes	$ 5,315	$ 6,080

Organization and basis of prese

Organization and basis of presentation	9 Months Ended
	Sep. 30, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1 – Organization and basis of presentation: Organization Basis of presentation. Our operations are reported on a 52 or 53-week year. For presentation purposes, annual and quarterly information in the Condensed Consolidated Financial Statements and accompanying notes are presented as ended September 30, 2022, December 31, 2022 and September 30, 2023. The actual dates of our annual and quarterly periods are October 2, 2022, January 1, 2023 and October 1, 2023, respectively. Unless otherwise indicated, references in this report to “we”, “us” or “our” refer to CompX International Inc. and its subsidiaries, taken as a whole.

Business segment information

Business segment information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business segment information	Note 2 – Business segment information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2023 2022 2023 ​ ​ (In thousands) Net sales: ​ ​ ​ ​ ​ Security Products ​ $ 28,493 ​ $ 31,376 ​ $ 86,911 ​ $ 84,390 Marine Components ​ 14,371 ​ 8,979 ​ 39,678 ​ 33,732 Total net sales ​ $ 42,864 ​ $ 40,355 ​ $ 126,589 ​ $ 118,122 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Security Products ​ $ 4,904 ​ $ 6,496 ​ $ 17,645 ​ $ 16,009 Marine Components ​ 2,716 ​ 1,693 ​ 7,449 ​ 6,953 Corporate operating expenses ​ (1,700) ​ (1,644) ​ (5,123) ​ (5,010) Total operating income ​ 5,920 ​ 6,545 ​ 19,971 ​ 17,952 Interest income ​ 558 ​ 1,064 ​ 1,109 ​ 3,003 Income before income taxes ​ $ 6,478 ​ $ 7,609 ​ $ 21,080 ​ $ 20,955 ​ Intersegment sales are not material.

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Note 3 – Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Unrealized ​ Market value cost basis loss, net ​ ​ (In thousands) December 31, 2022: ​ ​ ​ Current assets ​ $ 33,147 ​ $ 33,164 ​ $ (17) ​ ​ ​ ​ ​ ​ ​ September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets ​ $ 46,774 ​ $ 46,886 ​ $ (112) ​ Our marketable securities consist of investments in debt securities, currently U.S. government treasuries. We classify our marketable securities as available-for-sale. The fair value of our marketable securities is generally determined using Level 2 inputs because although these securities are traded, in many cases the market is not active and the quarter-end valuation is generally based on the last trade of the quarter, which may be several days prior to quarter end. We accumulate unrealized gains and losses on marketable debt securities as part of accumulated other comprehensive income (loss), net of related deferred income taxes.

Accounts receivable, net

Accounts receivable, net	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Accounts Receivable, net	Note 4 – Accounts receivable, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2022 2023 ​ ​ (In thousands) Accounts receivable, net: ​ ​ Security Products ​ $ 13,767 ​ $ 16,531 Marine Components ​ 4,143 ​ 3,274 Allowance for doubtful accounts ​ (70) ​ (70) Total accounts receivable, net ​ $ 17,840 ​ $ 19,735 ​

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories, net	​ ​ Note 5 – Inventories, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2022 2023 ​ ​ (In thousands) Raw materials: ​ ​ Security Products ​ $ 4,172 ​ $ 3,464 Marine Components ​ 2,073 ​ 2,109 Total raw materials ​ 6,245 ​ 5,573 Work-in-process: ​ ​ Security Products ​ 14,193 ​ 17,476 Marine Components ​ 5,790 ​ 5,562 Total work-in-process ​ 19,983 ​ 23,038 Finished goods: ​ ​ Security Products ​ 3,163 ​ 3,233 Marine Components ​ 1,899 ​ 2,438 Total finished goods ​ 5,062 ​ 5,671 Total inventories, net ​ $ 31,290 ​ $ 34,282 ​

Accounts payable and accrued li

Accounts payable and accrued liabilities	9 Months Ended
	Sep. 30, 2023
Payables And Accruals [Abstract]
Accounts payable and accrued liabilities	Note 6 – Accounts payable and accrued liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2022 2023 ​ ​ (In thousands) Accounts payable: ​ ​ Security Products ​ $ 2,663 ​ $ 3,156 Marine Components ​ 874 ​ 835 Accrued liabilities: ​ ​ Employee benefits ​ 10,489 ​ 8,703 Taxes other than on income ​ 279 ​ 489 Insurance ​ 255 ​ 264 Deferred revenue ​ ​ 243 ​ ​ 574 Customer tooling ​ 135 ​ 199 Advances from customers ​ ​ 298 ​ ​ 440 Other ​ 382 ​ 387 Total accounts payable and accrued liabilities ​ $ 15,618 ​ $ 15,047 ​

Provision for income taxes

Provision for income taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	Note 7 – Provision for income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2023 2022 2023 ​ ​ (In thousands) Expected tax expense, at the U.S. federal statutory ​ $ 1,361 ​ $ 1,598 ​ $ 4,427 ​ $ 4,401 State income taxes ​ 194 ​ 230 ​ 633 ​ 631 FDII benefit ​ (34) ​ (17) ​ (106) ​ (57) Other, net ​ 7 ​ 41 ​ 16 ​ 83 Total provision for income taxes ​ $ 1,528 ​ $ 1,852 ​ $ 4,970 ​ $ 5,058 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive provision for income taxes allocable to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 1,528 ​ $ 1,852 ​ $ 4,970 ​ $ 5,058 Other comprehensive income (loss) - marketable securities ​ ​ — ​ ​ 8 ​ ​ — ​ ​ (23) Total ​ $ 1,528 ​ $ 1,860 ​ $ 4,970 ​ $ 5,035 ​

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders' Equity	Note 8 – Stockholders’ equity: Our board of directors has previously authorized the repurchase of our Class A common stock in open market transactions, including block purchases, or in privately-negotiated transactions at unspecified prices and over an unspecified period of time. We may repurchase our common stock from time to time as market conditions permit. The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on market conditions, we may terminate the program prior to its completion. We use cash on hand to acquire the shares. Repurchased shares are added to our treasury and cancelled. We made no treasury purchases during the first nine months of 2023. During the second quarter of 2022, we acquired 78,900 shares of our Class A common stock for an aggregate amount of approximately $1.7 million under the prior repurchase authorizations. Of these shares, 70,000 shares were purchased in a market transaction, and 8,900 shares were purchased from two of our affiliates in two separate private transactions that were also approved in advance by our independent directors. At September 30, 2023, 523,647 shares were available for purchase under prior repurchase authorizations.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Financial Instruments	Note 9 – Financial instruments: See Note 3 for information on how we determine the fair value of our marketable securities. ​ The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ September 30, 2023 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ amount value amount value ​ ​ (In thousands) Cash and cash equivalents ​ $ 26,748 ​ $ 26,748 ​ $ 17,595 ​ $ 17,595 ​ Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 10 – Related party transactions: From time to time, we may have loans and advances outstanding between us and various related parties pursuant to term and demand notes. We generally enter into these loans and advances for cash management purposes. When we loan funds to related parties, we are generally able to earn a higher rate of return on the loan than we would earn if we invested the funds in other instruments, and when we borrow from related parties, we are generally able to pay a lower rate of interest than we would pay if we had incurred third-party indebtedness. While certain of these loans to affiliates may be of a lesser credit quality than cash equivalent instruments otherwise available to us, we believe we have considered the credit risks in the terms of the applicable loans. In this regard, we have an unsecured revolving demand promissory note with Valhi under which, as amended, we agreed to loan Valhi up to $25 million. Our loan to Valhi, as amended, bears interest at prime plus 1.00%, payable quarterly, with all principal due on demand, but in any event no earlier than December 31, 2024. Loans made to Valhi at any time under the agreement are at our discretion. At September 30, 2023, the outstanding principal balance receivable from Valhi under the promissory note was $12.0 million. Interest income (including unused commitment fees) on our loan to Valhi was $.7 million and $.9 million for the nine months ended September 30, 2022 and 2023, respectively.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	Organization
Basis of Presentation	Basis of presentation. Our operations are reported on a 52 or 53-week year. For presentation purposes, annual and quarterly information in the Condensed Consolidated Financial Statements and accompanying notes are presented as ended September 30, 2022, December 31, 2022 and September 30, 2023. The actual dates of our annual and quarterly periods are October 2, 2022, January 1, 2023 and October 1, 2023, respectively. Unless otherwise indicated, references in this report to “we”, “us” or “our” refer to CompX International Inc. and its subsidiaries, taken as a whole.

Business segment information (T

Business segment information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Business Segment Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2023 2022 2023 ​ ​ (In thousands) Net sales: ​ ​ ​ ​ ​ Security Products ​ $ 28,493 ​ $ 31,376 ​ $ 86,911 ​ $ 84,390 Marine Components ​ 14,371 ​ 8,979 ​ 39,678 ​ 33,732 Total net sales ​ $ 42,864 ​ $ 40,355 ​ $ 126,589 ​ $ 118,122 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Security Products ​ $ 4,904 ​ $ 6,496 ​ $ 17,645 ​ $ 16,009 Marine Components ​ 2,716 ​ 1,693 ​ 7,449 ​ 6,953 Corporate operating expenses ​ (1,700) ​ (1,644) ​ (5,123) ​ (5,010) Total operating income ​ 5,920 ​ 6,545 ​ 19,971 ​ 17,952 Interest income ​ 558 ​ 1,064 ​ 1,109 ​ 3,003 Income before income taxes ​ $ 6,478 ​ $ 7,609 ​ $ 21,080 ​ $ 20,955

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Unrealized ​ Market value cost basis loss, net ​ ​ (In thousands) December 31, 2022: ​ ​ ​ Current assets ​ $ 33,147 ​ $ 33,164 ​ $ (17) ​ ​ ​ ​ ​ ​ ​ September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets ​ $ 46,774 ​ $ 46,886 ​ $ (112)

Accounts receivable, net (Table

Accounts receivable, net (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Schedule of Accounts Receivable, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2022 2023 ​ ​ (In thousands) Accounts receivable, net: ​ ​ Security Products ​ $ 13,767 ​ $ 16,531 Marine Components ​ 4,143 ​ 3,274 Allowance for doubtful accounts ​ (70) ​ (70) Total accounts receivable, net ​ $ 17,840 ​ $ 19,735 ​

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2022 2023 ​ ​ (In thousands) Raw materials: ​ ​ Security Products ​ $ 4,172 ​ $ 3,464 Marine Components ​ 2,073 ​ 2,109 Total raw materials ​ 6,245 ​ 5,573 Work-in-process: ​ ​ Security Products ​ 14,193 ​ 17,476 Marine Components ​ 5,790 ​ 5,562 Total work-in-process ​ 19,983 ​ 23,038 Finished goods: ​ ​ Security Products ​ 3,163 ​ 3,233 Marine Components ​ 1,899 ​ 2,438 Total finished goods ​ 5,062 ​ 5,671 Total inventories, net ​ $ 31,290 ​ $ 34,282 ​

Accounts payable and accrued _2

Accounts payable and accrued liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Payables And Accruals [Abstract]
Accounts payable and accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2022 2023 ​ ​ (In thousands) Accounts payable: ​ ​ Security Products ​ $ 2,663 ​ $ 3,156 Marine Components ​ 874 ​ 835 Accrued liabilities: ​ ​ Employee benefits ​ 10,489 ​ 8,703 Taxes other than on income ​ 279 ​ 489 Insurance ​ 255 ​ 264 Deferred revenue ​ ​ 243 ​ ​ 574 Customer tooling ​ 135 ​ 199 Advances from customers ​ ​ 298 ​ ​ 440 Other ​ 382 ​ 387 Total accounts payable and accrued liabilities ​ $ 15,618 ​ $ 15,047 ​

Provision for income taxes_ (Ta

Provision for income taxes: (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Provision for Income Taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2023 2022 2023 ​ ​ (In thousands) Expected tax expense, at the U.S. federal statutory ​ $ 1,361 ​ $ 1,598 ​ $ 4,427 ​ $ 4,401 State income taxes ​ 194 ​ 230 ​ 633 ​ 631 FDII benefit ​ (34) ​ (17) ​ (106) ​ (57) Other, net ​ 7 ​ 41 ​ 16 ​ 83 Total provision for income taxes ​ $ 1,528 ​ $ 1,852 ​ $ 4,970 ​ $ 5,058 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive provision for income taxes allocable to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 1,528 ​ $ 1,852 ​ $ 4,970 ​ $ 5,058 Other comprehensive income (loss) - marketable securities ​ ​ — ​ ​ 8 ​ ​ — ​ ​ (23) Total ​ $ 1,528 ​ $ 1,860 ​ $ 4,970 ​ $ 5,035 ​

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Carrying Value and Estimated Fair Value of Financial Instruments	See Note 3 for information on how we determine the fair value of our marketable securities. ​ The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ September 30, 2023 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ amount value amount value ​ ​ (In thousands) Cash and cash equivalents ​ $ 26,748 ​ $ 26,748 ​ $ 17,595 ​ $ 17,595

Organization and Basis of Pre_3

Organization and Basis of Presentation - Additional Information (Detail)	Sep. 30, 2023
NL Industries | CompX International Inc
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	87%
Valhi Inc | NL Industries
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	83%
Contran Corporation | Valhi Inc
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	91%

Business segment information -

Business segment information - Schedule of Business Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales:
Total net sales	$ 40,355	$ 42,864	$ 118,122	$ 126,589
Operating income (loss):
Total operating income	6,545	5,920	17,952	19,971
Interest income	1,064	558	3,003	1,109
Income before income taxes	7,609	6,478	20,955	21,080
Security Products
Net sales:
Total net sales	31,376	28,493	84,390	86,911
Marine Components
Net sales:
Total net sales	8,979	14,371	33,732	39,678
Operating Segments | Security Products
Operating income (loss):
Total operating income	6,496	4,904	16,009	17,645
Operating Segments | Marine Components
Operating income (loss):
Total operating income	1,693	2,716	6,953	7,449
Corporate
Operating income (loss):
Total operating income	$ (1,644)	$ (1,700)	$ (5,010)	$ (5,123)

Marketable Securities (Details)

Marketable Securities (Details) - Current assets - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Marketable securities
Market value	$ 46,774	$ 33,147
Amortized cost basis	46,886	33,164
Unrealized loss, net	$ (112)	$ (17)

Accounts receivable, net - Sche

Accounts receivable, net - Schedule of Accounts receivable, net (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items]
Allowance for doubtful accounts	$ (70)	$ (70)
Total accounts receivable, net	19,735	17,840
Security Products
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, gross	16,531	13,767
Marine Components
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, gross	$ 3,274	$ 4,143

Inventories, Net - Inventories,

Inventories, Net - Inventories, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Total raw materials	$ 5,573	$ 6,245
Total work-in-process	23,038	19,983
Total finished goods	5,671	5,062
Total inventories, net	34,282	31,290
Security Products
Inventory [Line Items]
Total raw materials	3,464	4,172
Total work-in-process	17,476	14,193
Total finished goods	3,233	3,163
Marine Components
Inventory [Line Items]
Total raw materials	2,109	2,073
Total work-in-process	5,562	5,790
Total finished goods	$ 2,438	$ 1,899

Accounts payable and accrued _3

Accounts payable and accrued liabilities - Accounts payable and accrued liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accrued liabilities:
Employee benefits	$ 8,703	$ 10,489
Taxes other than on income	489	279
Insurance	264	255
Deferred revenue	574	243
Customer tooling	199	135
Advances from customers	440	298
Other	387	382
Total accounts payable and accrued liabilities	15,047	15,618
Security Products
Accounts payable:
Accounts payable	3,156	2,663
Marine Components
Accounts payable:
Accounts payable	$ 835	$ 874

Provision for income taxes - Pr

Provision for income taxes - Provision for income taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Provision for income taxes
Total provision for income taxes	$ 1,852	$ 1,528	$ 5,058	$ 4,970
Expected tax expense, at the U.S. federal statutory income tax rate of 21%	$ 1,598	$ 1,361	$ 4,401	$ 4,427
U.S. federal statutory income tax rate	21%	21%	21%	21%
State income taxes	$ 230	$ 194	$ 631	$ 633
FDII benefit	(17)	(34)	(57)	(106)
Other, net	41	7	83	16
Total provision for income taxes	1,852	1,528	5,058	4,970
Disclosure Other Comprehensive Income Loss Tax Effects Allocation to Component Of Other Comprehensive Income Loss [Abstract]
Net income	1,852	1,528	5,058	4,970
Other comprehensive loss - marketable securities	8	0	(23)	0
Total	$ 1,860	$ 1,528	$ 5,035	$ 4,970

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2022 USD ($) item Transaction shares	Sep. 30, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock purchases		0
Shares available for purchase		523,647
Shares Repurchased in Market Transaction
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common shares	70,000
Shares Repurchased from Affiliates
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common shares	8,900
Number of affiliates | item	2
Number of private transactions | Transaction	2
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common shares	78,900
Purchase of common shares value | $	$ 1.7

Financial Instruments - Carryin

Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 17,595	$ 26,748
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 17,595	$ 26,748

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Aug. 31, 2016	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Note receivable from affiliate		$ 12,000		$ 13,200
Unsecured Revolving Demand Promissory | Valhi Inc
Related Party Transaction [Line Items]
Maximum loan amount	$ 25,000
Interest rate on loans repayment	1%
Principal due on demand effective date	Dec. 31, 2024
Note receivable from affiliate		12,000
Interest income including unused commitment fees on our loan		$ 900	$ 700