CompX International (CIX) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
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		12,318,557
Entity Central Index Key	0001049606
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 58,788	$ 41,393
Marketable securities		35,354
Accounts receivable, net	14,458	17,061
Inventories, net	28,008	30,712
Prepaid expenses and other	2,245	2,110
Total current assets	103,499	126,630
Other assets:
Note receivable from affiliate	7,900	10,600
Goodwill	23,742	23,742
Other noncurrent assets	704	769
Total other assets	32,346	35,111
Property and equipment:
Land	5,390	5,390
Buildings	23,262	23,239
Equipment	75,334	74,315
Construction in progress	527	676
Gross property and equipment	104,513	103,620
Less accumulated depreciation	80,252	77,757
Net property and equipment	24,261	25,863
Total assets	160,106	187,604
Current liabilities:
Accounts payable and accrued liabilities	13,074	15,745
Income taxes payable to affiliate	694	1,460
Total current liabilities	13,768	17,205
Noncurrent liabilities:
Deferred income taxes	972	1,509
Other	36	41
Total noncurrent liabilities	1,008	1,550
Stockholders' equity:
Preferred stock	0	0
Additional paid-in capital	53,396	53,275
Retained earnings	91,811	115,457
Accumulated other comprehensive loss - unrealized loss on marketable securities		(6)
Total stockholders' equity	145,330	168,849
Total liabilities and stockholders' equity	160,106	187,604
Commitments and contingencies (Note 8)
Class A Common Stock
Stockholders' equity:
Class A 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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Net sales	$ 33,667	$ 40,355	$ 107,525	$ 118,122
Cost of sales	24,199	27,736	77,225	82,526
Gross margin	9,468	12,619	30,300	35,596
Selling, general and administrative expense	6,119	6,074	18,155	17,644
Operating income	3,349	6,545	12,145	17,952
Interest income	1,235	1,064	3,754	3,003
Income before income taxes	4,584	7,609	15,899	20,955
Provision for income taxes	1,106	1,852	3,823	5,058
Net income	3,478	5,757	12,076	15,897
Other comprehensive income (loss), marketable securities adjustment:
Unrealized income (loss) arising during year, net	1	30	6	(72)
Comprehensive income	$ 3,479	$ 5,787	$ 12,082	$ 15,825
Net income per basic share	$ 0.28	$ 0.47	$ 0.98	$ 1.29
Net income per diluted share	$ 0.28	$ 0.47	$ 0.98	$ 1.29
Weighted average shares outstanding - basic	12,319	12,314	12,316	12,310
Weighted average shares outstanding - diluted	12,319	12,314	12,316	12,310

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	Total
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
Cash dividends			(9,233)		(9,233)
Other comprehensive income (loss)				(72)	(72)
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
Cash dividends			(3,078)		(3,078)
Other comprehensive income (loss)				30	30
Balance at Sep. 30, 2023	123	53,275	111,839	(89)	165,148
Balance at Dec. 31, 2023	123	53,275	115,457	(6)	168,849
Net income	0	0	12,076	0	12,076
Issuance of common stock		121			121
Cash dividends			(35,722)		(35,722)
Other comprehensive income (loss)				6	6
Balance at Sep. 30, 2024	123	53,396	91,811		145,330
Balance at Jun. 30, 2024	123	53,396	116,665	(1)	170,183
Net income	0	0	3,478	0	3,478
Cash dividends			(28,332)		(28,332)
Other comprehensive income (loss)				$ 1	1
Balance at Sep. 30, 2024	$ 123	$ 53,396	$ 91,811		$ 145,330

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends per share	$ 2.30	$ 0.25	$ 2.90	$ 0.75

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 12,076	$ 15,897
Depreciation and amortization	2,763	2,996
Deferred income taxes	(539)	(556)
Noncash interest income	(639)	(1,397)
Other, net	339	332
Change in assets and liabilities:
Accounts receivable, net	2,595	(1,900)
Inventories, net	2,494	(3,199)
Accounts payable and accrued liabilities	(2,634)	(526)
Accounts with affiliates	(766)	316
Prepaids and other, net	(78)	(194)
Net cash provided by operating activities	15,611	11,769
Cash flows from investing activities:
Capital expenditures	(1,194)	(564)
Purchases	0	(36,325)
Proceeds from maturities	36,000	24,000
Note receivable from affiliate:
Collections	20,400	21,900
Advances	(17,700)	(20,700)
Net cash provided by (used in) investing activities	37,506	(11,689)
Cash flows from financing activities -
Dividends paid	(35,722)	(9,233)
Cash and cash equivalents - net change from:
Operating, investing and financing activities	17,395	(9,153)
Balance at beginning of period	41,393	26,748
Balance at end of period	58,788	17,595
Supplemental disclosures -
Cash paid for income taxes	$ 5,154	$ 5,315

Organization and basis of prese

Organization and basis of presentation	9 Months Ended
	Sep. 30, 2024
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and basis of presentation	Note 1 – Organization and basis of presentation: Organization Basis of presentation. Cash dividends in 2024 include a $2.00 per share special dividend. 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, 2023, December 31, 2023 and September 30, 2024. The actual dates of our annual and quarterly periods are October 1, 2023, December 31, 2023 and September 29, 2024, 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, 2024
Segment Reporting [Abstract]
Business segment information	Note 2 – Business segment information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2023 2024 2023 2024 ​ ​ (In thousands) Net sales: ​ ​ ​ ​ ​ Security Products ​ $ 31,376 ​ $ 26,567 ​ $ 84,390 ​ $ 84,667 Marine Components ​ 8,979 ​ 7,100 ​ 33,732 ​ 22,858 Total net sales ​ $ 40,355 ​ $ 33,667 ​ $ 118,122 ​ $ 107,525 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Security Products ​ $ 6,496 ​ $ 4,553 ​ $ 16,009 ​ $ 15,445 Marine Components ​ 1,693 ​ 603 ​ 6,953 ​ 2,024 Corporate operating expenses ​ (1,644) ​ (1,807) ​ (5,010) ​ (5,324) Total operating income ​ 6,545 ​ 3,349 ​ 17,952 ​ 12,145 Interest income ​ 1,064 ​ 1,235 ​ 3,003 ​ 3,754 Income before income taxes ​ $ 7,609 ​ $ 4,584 ​ $ 20,955 ​ $ 15,899 ​ Intersegment sales are not material.

Marketable securities

Marketable securities	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Marketable securities	Note 3 – Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Unrealized ​ Market value cost basis loss, net ​ ​ (In thousands) December 31, 2023: ​ ​ ​ Current assets ​ $ 35,354 ​ $ 35,359 ​ $ (5) ​ ​ ​ ​ ​ ​ ​ September 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets ​ $ — ​ $ — ​ $ — ​ Our marketable securities consist of investments in debt securities. 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, 2024
Receivables [Abstract]
Accounts receivable, net	Note 4 – Accounts receivable, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2023 2024 ​ ​ (In thousands) Accounts receivable, net: ​ ​ Security Products ​ $ 14,950 ​ $ 11,653 Marine Components ​ 2,181 ​ 2,875 Allowance for doubtful accounts ​ (70) ​ (70) Total accounts receivable, net ​ $ 17,061 ​ $ 14,458 ​

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	​ ​ Note 5 – Inventories, net: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2023 2024 ​ ​ (In thousands) Raw materials: ​ ​ Security Products ​ $ 3,569 ​ $ 4,178 Marine Components ​ 2,169 ​ 1,522 Total raw materials ​ 5,738 ​ 5,700 Work-in-process: ​ ​ Security Products ​ 13,879 ​ 12,880 Marine Components ​ 5,163 ​ 4,550 Total work-in-process ​ 19,042 ​ 17,430 Finished goods: ​ ​ Security Products ​ 3,175 ​ 2,801 Marine Components ​ 2,757 ​ 2,077 Total finished goods ​ 5,932 ​ 4,878 Total inventories, net ​ $ 30,712 ​ $ 28,008 ​

Accounts payable and accrued li

Accounts payable and accrued liabilities	9 Months Ended
	Sep. 30, 2024
Payables And Accruals [Abstract]
Accounts payable and accrued liabilities	Note 6 – Accounts payable and accrued liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2023 2024 ​ ​ (In thousands) Accounts payable: ​ ​ Security Products ​ $ 2,514 ​ $ 2,550 Marine Components ​ 634 ​ 586 Corporate ​ ​ — ​ ​ 13 Payable to affiliate - Contran ​ — ​ 142 Employee benefits ​ 10,712 ​ 7,834 Deferred revenue ​ ​ 559 ​ ​ 98 Insurance ​ 289 ​ 311 Taxes other than on income ​ 285 ​ 512 Advances from customers ​ ​ 267 ​ ​ 97 Customer tooling ​ 145 ​ 255 Professional services ​ ​ — ​ ​ 270 Other ​ 340 ​ 406 Total accounts payable and accrued liabilities ​ $ 15,745 ​ $ 13,074 ​

Provision for income taxes

Provision for income taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Provision for income taxes	Note 7 – Provision for income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2023 2024 2023 2024 ​ ​ (In thousands) Expected tax expense, at the U.S. federal statutory ​ $ 1,598 ​ $ 963 ​ $ 4,401 ​ $ 3,339 State income taxes ​ 230 ​ 134 ​ 631 ​ 467 Other, net ​ 24 ​ 9 ​ 26 ​ 17 Total provision for income taxes ​ $ 1,852 ​ $ 1,106 ​ $ 5,058 ​ $ 3,823 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive provision for income taxes allocable to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 1,852 ​ $ 1,106 ​ $ 5,058 ​ $ 3,823 Other comprehensive income (loss) - marketable securities ​ ​ 8 ​ ​ (1) ​ ​ (23) ​ ​ (1) Total ​ $ 1,860 ​ $ 1,105 ​ $ 5,035 ​ $ 3,822 ​

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2024
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 – Commitments and contingencies: From time to time, we may be involved in various environmental, contractual, product liability, patent (or intellectual property), employment and other claims and disputes incidental to our business. At least quarterly our management discusses and evaluates the status of any pending litigation to which we are a party. The factors considered in such evaluation include, among other things, the nature of such pending cases, the status of such pending cases, the advice of legal counsel and our experience in similar cases (if any). Based on such evaluation, we make a determination as to whether we believe (i) it is probable a loss has been incurred, and if so if the amount of such loss (or a range of loss) is reasonably estimable, or (ii) it is reasonably possible but not probable a loss has been incurred, and if so if the amount of such loss (or a range of loss) is reasonably estimable, or (iii) the probability a loss has been incurred is remote. We have not accrued any amounts for litigation matters because it is not reasonably possible we have incurred a loss that would be material to our consolidated financial statements, results of operations or liquidity.

Financial instruments

Financial instruments	9 Months Ended
	Sep. 30, 2024
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, 2023 ​ September 30, 2024 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ amount value amount value ​ ​ (In thousands) Cash and cash equivalents ​ $ 41,393 ​ $ 41,393 ​ $ 58,788 ​ $ 58,788 ​ 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, 2024
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, 2025. Loans made to Valhi at any time under the agreement are at our discretion. At September 30, 2024, the outstanding principal balance receivable from Valhi under the promissory note was $7.9 million. Interest income (including unused commitment fees) on our loan to Valhi was $.9 million and $.8 million for the nine months ended September 30, 2023 and 2024, respectively.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	Note 11 – Recent Accounting Pronouncements: In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ​

Organization and basis of pre_2

Organization and basis of presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	Organization
Basis of presentation	Basis of presentation. Cash dividends in 2024 include a $2.00 per share special dividend. 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, 2023, December 31, 2023 and September 30, 2024. The actual dates of our annual and quarterly periods are October 1, 2023, December 31, 2023 and September 29, 2024, 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, 2024
Segment Reporting [Abstract]
Schedule of Business Segment Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2023 2024 2023 2024 ​ ​ (In thousands) Net sales: ​ ​ ​ ​ ​ Security Products ​ $ 31,376 ​ $ 26,567 ​ $ 84,390 ​ $ 84,667 Marine Components ​ 8,979 ​ 7,100 ​ 33,732 ​ 22,858 Total net sales ​ $ 40,355 ​ $ 33,667 ​ $ 118,122 ​ $ 107,525 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income: ​ ​ ​ ​ Security Products ​ $ 6,496 ​ $ 4,553 ​ $ 16,009 ​ $ 15,445 Marine Components ​ 1,693 ​ 603 ​ 6,953 ​ 2,024 Corporate operating expenses ​ (1,644) ​ (1,807) ​ (5,010) ​ (5,324) Total operating income ​ 6,545 ​ 3,349 ​ 17,952 ​ 12,145 Interest income ​ 1,064 ​ 1,235 ​ 3,003 ​ 3,754 Income before income taxes ​ $ 7,609 ​ $ 4,584 ​ $ 20,955 ​ $ 15,899

Marketable securities (Tables)

Marketable securities (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Unrealized ​ Market value cost basis loss, net ​ ​ (In thousands) December 31, 2023: ​ ​ ​ Current assets ​ $ 35,354 ​ $ 35,359 ​ $ (5) ​ ​ ​ ​ ​ ​ ​ September 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets ​ $ — ​ $ — ​ $ —

Accounts receivable, net (Table

Accounts receivable, net (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Accounts Receivable, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2023 2024 ​ ​ (In thousands) Accounts receivable, net: ​ ​ Security Products ​ $ 14,950 ​ $ 11,653 Marine Components ​ 2,181 ​ 2,875 Allowance for doubtful accounts ​ (70) ​ (70) Total accounts receivable, net ​ $ 17,061 ​ $ 14,458 ​

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2023 2024 ​ ​ (In thousands) Raw materials: ​ ​ Security Products ​ $ 3,569 ​ $ 4,178 Marine Components ​ 2,169 ​ 1,522 Total raw materials ​ 5,738 ​ 5,700 Work-in-process: ​ ​ Security Products ​ 13,879 ​ 12,880 Marine Components ​ 5,163 ​ 4,550 Total work-in-process ​ 19,042 ​ 17,430 Finished goods: ​ ​ Security Products ​ 3,175 ​ 2,801 Marine Components ​ 2,757 ​ 2,077 Total finished goods ​ 5,932 ​ 4,878 Total inventories, net ​ $ 30,712 ​ $ 28,008 ​

Accounts payable and accrued _2

Accounts payable and accrued liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Payables And Accruals [Abstract]
Accounts payable and accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2023 2024 ​ ​ (In thousands) Accounts payable: ​ ​ Security Products ​ $ 2,514 ​ $ 2,550 Marine Components ​ 634 ​ 586 Corporate ​ ​ — ​ ​ 13 Payable to affiliate - Contran ​ — ​ 142 Employee benefits ​ 10,712 ​ 7,834 Deferred revenue ​ ​ 559 ​ ​ 98 Insurance ​ 289 ​ 311 Taxes other than on income ​ 285 ​ 512 Advances from customers ​ ​ 267 ​ ​ 97 Customer tooling ​ 145 ​ 255 Professional services ​ ​ — ​ ​ 270 Other ​ 340 ​ 406 Total accounts payable and accrued liabilities ​ $ 15,745 ​ $ 13,074 ​

Provision for income taxes (Tab

Provision for income taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Provision for Income Taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2023 2024 2023 2024 ​ ​ (In thousands) Expected tax expense, at the U.S. federal statutory ​ $ 1,598 ​ $ 963 ​ $ 4,401 ​ $ 3,339 State income taxes ​ 230 ​ 134 ​ 631 ​ 467 Other, net ​ 24 ​ 9 ​ 26 ​ 17 Total provision for income taxes ​ $ 1,852 ​ $ 1,106 ​ $ 5,058 ​ $ 3,823 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive provision for income taxes allocable to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 1,852 ​ $ 1,106 ​ $ 5,058 ​ $ 3,823 Other comprehensive income (loss) - marketable securities ​ ​ 8 ​ ​ (1) ​ ​ (23) ​ ​ (1) Total ​ $ 1,860 ​ $ 1,105 ​ $ 5,035 ​ $ 3,822 ​

Financial instruments (Tables)

Financial instruments (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2023 ​ September 30, 2024 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ amount value amount value ​ ​ (In thousands) Cash and cash equivalents ​ $ 41,393 ​ $ 41,393 ​ $ 58,788 ​ $ 58,788

Organization and basis of pre_3

Organization and basis of presentation - Additional Information (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basis Of Presentation And Significant Accounting Policies [Line Items]
Cash dividends per share	$ 2.30	$ 0.25	$ 2.90	$ 0.75
Class A Common Stock
Basis Of Presentation And Significant Accounting Policies [Line Items]
Cash dividends per share	$ 2
NL Industries | CompX International Inc
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	87%		87%
Valhi Inc | NL Industries
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	83%		83%
Contran Corporation | Valhi Inc
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	91%		91%

Business segment information -

Business segment information - Schedule of Business segment information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales:
Total net sales	$ 33,667	$ 40,355	$ 107,525	$ 118,122
Operating income (loss):
Total operating income	3,349	6,545	12,145	17,952
Interest income	1,235	1,064	3,754	3,003
Income before income taxes	4,584	7,609	15,899	20,955
Security Products
Net sales:
Total net sales	26,567	31,376	84,667	84,390
Marine Components
Net sales:
Total net sales	7,100	8,979	22,858	33,732
Operating Segments | Security Products
Operating income (loss):
Total operating income	4,553	6,496	15,445	16,009
Operating Segments | Marine Components
Operating income (loss):
Total operating income	603	1,693	2,024	6,953
Corporate
Operating income (loss):
Total operating income	$ (1,807)	$ (1,644)	$ (5,324)	$ (5,010)

Marketable securities (Details)

Marketable securities (Details) - Current assets $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Marketable securities
Market value	$ 35,354
Amortized cost basis	35,359
Unrealized loss, net	$ (5)

Accounts receivable, net - Sche

Accounts receivable, net - Schedule of Accounts receivable, net (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Allowance for doubtful accounts	$ (70)	$ (70)
Total accounts receivable, net	14,458	17,061
Security Products
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, gross	11,653	14,950
Marine Components
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, gross	$ 2,875	$ 2,181

Inventories, net - Inventories,

Inventories, net - Inventories, net (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory [Line Items]
Total raw materials	$ 5,700	$ 5,738
Total work-in-process	17,430	19,042
Total finished goods	4,878	5,932
Total inventories, net	28,008	30,712
Security Products
Inventory [Line Items]
Total raw materials	4,178	3,569
Total work-in-process	12,880	13,879
Total finished goods	2,801	3,175
Marine Components
Inventory [Line Items]
Total raw materials	1,522	2,169
Total work-in-process	4,550	5,163
Total finished goods	$ 2,077	$ 2,757

Accounts payable and accrued _3

Accounts payable and accrued liabilities - Accounts payable and accrued liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accrued liabilities:
Employee benefits	$ 7,834	$ 10,712
Deferred revenue	98	559
Insurance	311	289
Taxes other than on income	512	285
Advances from customers	97	267
Customer tooling	255	145
Professional services	270
Other	406	340
Total accounts payable and accrued liabilities	13,074	15,745
Security Products
Accounts payable:
Accounts payable	2,550	2,514
Marine Components
Accounts payable:
Accounts payable	586	$ 634
Corporate
Accounts payable:
Accounts payable	13
Related Party [Member] | Contran Corporation
Accrued liabilities:
Payable to affiliate - Contran	$ 142

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Expected tax expense, at the U.S. federal statutory income tax rate of 21%	$ 963	$ 1,598	$ 3,339	$ 4,401
U.S. federal statutory income tax rate	21%	21%	21%	21%
State income taxes	$ 134	$ 230	$ 467	$ 631
Other, net	9	24	17	26
Total provision for income taxes	1,106	1,852	3,823	5,058
Comprehensive provision for income taxes allocable to:
Net income	1,106	1,852	3,823	5,058
Other comprehensive income (loss) - marketable securities	(1)	8	(1)	(23)
Total	$ 1,105	$ 1,860	$ 3,822	$ 5,035

Financial instruments - Carryin

Financial instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 58,788	$ 41,393
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 58,788	$ 41,393

Related party transactions - Ad

Related party transactions - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2016	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Other Receivable, after Allowance for Credit Loss, Noncurrent		$ 7,900		$ 7,900		$ 10,600
Interest income		1,235	$ 1,064	3,754	$ 3,003
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, 2025
Unsecured Revolving Demand Promissory | Related Party [Member] | Valhi Inc
Related Party Transaction [Line Items]
Other Receivable, after Allowance for Credit Loss, Noncurrent		$ 7,900		7,900
Interest income				$ 800	$ 900