CompX International (CIX) 10-Q 1 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 26, 2017
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	CIX
Entity Registrant Name	COMPX INTERNATIONAL INC
Entity Central Index Key	1,049,606
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Class A Common Stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,426,107
Class B Common Stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		10,000,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 28,790	$ 33,153
Accounts receivable, net	11,717	10,347
Inventories, net	15,313	14,974
Prepaid expenses and other	741	701
Total current assets	56,561	59,175
Other assets:
Note receivable from affiliate	36,700	27,400
Goodwill	23,742	23,742
Other noncurrent	590	590
Total other assets	61,032	51,732
Property and equipment:
Land	4,935	4,935
Buildings	22,767	22,541
Equipment	66,868	65,570
Construction in progress	680	1,098
Gross property and equipment	95,250	94,144
Less accumulated depreciation	62,661	61,071
Net property and equipment	32,589	33,073
Total assets	150,182	143,980
Current liabilities:
Accounts payable and accrued liabilities	11,422	11,882
Income taxes payable to affiliates	857	1,441
Total current liabilities	12,279	13,323
Noncurrent liabilities -
Deferred income taxes	4,949	4,887
Stockholders' equity:
Preferred stock
Additional paid-in capital	55,612	55,515
Retained earnings	77,218	70,131
Total stockholders' equity	132,954	125,770
Total liabilities and stockholders’ equity	150,182	143,980
Commitments and contingencies (Note 1)
Class A Common Stock
Stockholders' equity:
Common stock	24	24
Total stockholders' equity	24	24
Class B Common Stock
Stockholders' equity:
Common stock	100	100
Total stockholders' equity	$ 100	$ 100

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 26,992	$ 28,404	$ 86,943	$ 82,586
Cost of goods sold	18,794	19,005	59,552	56,496
Gross profit	8,198	9,399	27,391	26,090
Selling, general and administrative expense	4,830	4,926	14,897	14,547
Operating income	3,368	4,473	12,494	11,543
Interest income	546	88	1,363	161
Income before taxes	3,914	4,561	13,857	11,704
Provision for income taxes	1,418	1,592	4,906	4,097
Net income	$ 2,496	$ 2,969	$ 8,951	$ 7,607
Basic and diluted net income per common share	$ 0.20	$ 0.24	$ 0.72	$ 0.61
Cash dividends per share	$ 0.05	$ 0.05	$ 0.15	$ 0.15
Basic and diluted weighted average shares outstanding	12,426	12,419	12,422	12,415

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 8,951	$ 7,607
Depreciation and amortization	2,747	2,790
Deferred income taxes	62	(77)
Other, net	252	348
Change in assets and liabilities:
Accounts receivable, net	(1,386)	(4,289)
Inventories, net	(475)	280
Accounts payable and accrued liabilities	(599)	438
Accounts with affiliates	(584)	817
Prepaids and other, net	(40)	17
Net cash provided by operating activities	8,928	7,931
Cash flows from investing activities:
Capital expenditures	(2,127)	(2,344)
Note receivable from affiliate:
Collections	40,400	4,400
Advances	(49,700)	(15,100)
Net cash used in investing activities	(11,427)	(13,044)
Cash flows from financing activities -
Dividends paid	(1,864)	(1,863)
Cash and cash equivalents - net change from:
Operating, investing and financing activities	(4,363)	(6,976)
Balance at beginning of period	33,153	52,347
Balance at end of period	28,790	45,371
Supplemental disclosures -
Cash paid for income taxes	$ 5,431	$ 3,355

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Additional paid-in Capital	Retained Earnings
Balance at Dec. 31, 2016	$ 125,770	$ 24	$ 100	$ 55,515	$ 70,131
Net income	8,951				8,951
Issuance of common stock	97			97
Cash dividends	(1,864)				(1,864)
Balance at Sep. 30, 2017	$ 132,954	$ 24	$ 100	$ 55,612	$ 77,218

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1 – Organization and basis of presentation: Organization . We (NYSE MKT: CIX) are 87% owned by NL Industries, Inc. (NYSE: NL) at September 30, 2017. We manufacture and sell component products (security products and recreational marine components). At September 30, 2017, Valhi, Inc. (NYSE: VHI) owns 83% of NL’s outstanding common stock and a wholly-owned subsidiary of Contran Corporation owns 93% of Valhi’s outstanding common stock. All of Contran’s outstanding voting stock is held by a family trust established for the benefit of Lisa K. Simmons and Serena Simmons Connelly and their children, for which Ms. Simmons and Ms. Connelly are co-trustees, or is held directly by Ms. Simmons and Ms. Connelly or entities related to them. Consequently, Ms. Simmons and Ms. Connelly may be deemed to control Contran, Valhi, NL and us. Basis of presentation. Consolidated in this Quarterly Report are the results of CompX International Inc. and its subsidiaries. The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2016 that we filed with the Securities and Exchange Commission (“SEC”) on March 1, 2017 (the “2016 Annual Report”). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments) in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet at December 31, 2016 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2016) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Our results of operations for the interim periods ended September 30, 2017 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2016 Consolidated Financial Statements contained in our 2016 Annual Report. 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, 2016, December 31, 2016 and September 30, 2017. The actual dates of our annual and quarterly periods are October 2, 2016, January 1, 2017 and October 1, 2017, 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, 2017
Segment Reporting [Abstract]
Business Segment Information	Note 2 – Business segment information: Three months ended Nine months ended September 30, September 30, 2016 2017 2016 2017 (In thousands) (In thousands) Net sales: Security Products $ 24,680 $ 22,854 $ 71,289 $ 74,903 Marine Components 3,724 4,138 11,297 12,040 Total net sales $ 28,404 $ 26,992 $ 82,586 $ 86,943 Operating income (loss): Security Products $ 5,421 $ 4,249 $ 14,676 $ 15,301 Marine Components 547 417 1,436 1,284 Corporate operating expenses (1,495 ) (1,298 ) (4,569 ) (4,091 ) Total operating income 4,473 3,368 11,543 12,494 Interest income 88 546 161 1,363 Income before taxes $ 4,561 $ 3,914 $ 11,704 $ 13,857 Intersegment sales are not material.

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Accounts Receivable, Net	Note 3 – Accounts receivable, net: December 31, September 30, 2016 2017 (In thousands) Accounts receivable, net: Security Products $ 9,329 $ 10,153 Marine Components 1,088 1,634 Allowance for doubtful accounts (70 ) (70 ) Total accounts receivable, net $ 10,347 $ 11,717

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories, Net	Note 4 – Inventories, net: December 31, September 30, 2016 2017 (In thousands) Raw materials: Security Products $ 2,365 $ 2,298 Marine Components 378 569 Total raw materials 2,743 2,867 Work-in-process: Security Products 7,387 8,154 Marine Components 1,601 1,530 Total work-in-process 8,988 9,684 Finished goods: Security Products 2,440 2,076 Marine Components 803 686 Total finished goods 3,243 2,762 Total inventories, net $ 14,974 $ 15,313

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Note 5 – Accounts payable and accrued liabilities: December 31, September 30, 2016 2017 (In thousands) Accounts payable $ 2,614 $ 2,911 Accrued liabilities: Employee benefits 7,644 6,826 Customer tooling 346 378 Taxes other than on income 300 620 Other 978 687 Total accounts payable and accrued liabilities $ 11,882 $ 11,422

Provision for Income Taxes

Provision for Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Note 6 – Provision for income taxes: Nine months ended September 30, 2016 2017 (In thousands) Expected tax expense, at the U.S. federal statutory income tax rate of 35% $ 4,096 $ 4,850 Domestic production activities deduction (362 ) (420 ) State income taxes 339 400 Other, net 24 76 Total income tax expense $ 4,097 $ 4,906

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Financial Instruments	Note 7 – Financial instruments: The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure: December 31, September 30, 2016 2017 Carrying Fair Carrying Fair amount value amount value (In thousands) Cash and cash equivalents $ 33,153 $ 33,153 $ 28,790 $ 28,790 Accounts receivable, net 10,347 10,347 11,717 11,717 Accounts payable 2,614 2,614 2,911 2,911 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, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 8 – 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, in August 2016 we entered into an unsecured revolving demand promissory note with Valhi whereby we agreed to loan Valhi up to $40 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, 2018. The amount of our outstanding loans to Valhi at any time is at our discretion. At September 30, 2017, the outstanding principal balance receivable from Valhi under the promissory note was $36.7 million. Interest income (including unused commitment fees) on our loan to Valhi was $0.5 million and $1.3 million for the third quarter and nine months ended September 30, 2017, respectively.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	Note 9 – Recent accounting pronouncements: Adopted In January 2017, the FASB issued ASU 2017-04, Intangibles Goodwill and Other (Topic 350) Simplifying the Test for Goodwill Impairment Pending Adoption In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842)

Organization and Basis of Pre15

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	Organization . We (NYSE MKT: CIX) are 87% owned by NL Industries, Inc. (NYSE: NL) at September 30, 2017. We manufacture and sell component products (security products and recreational marine components). At September 30, 2017, Valhi, Inc. (NYSE: VHI) owns 83% of NL’s outstanding common stock and a wholly-owned subsidiary of Contran Corporation owns 93% of Valhi’s outstanding common stock. All of Contran’s outstanding voting stock is held by a family trust established for the benefit of Lisa K. Simmons and Serena Simmons Connelly and their children, for which Ms. Simmons and Ms. Connelly are co-trustees, or is held directly by Ms. Simmons and Ms. Connelly or entities related to them. Consequently, Ms. Simmons and Ms. Connelly may be deemed to control Contran, Valhi, NL and us.
Basis of Presentation	Basis of presentation. Consolidated in this Quarterly Report are the results of CompX International Inc. and its subsidiaries. The unaudited Condensed Consolidated Financial Statements contained in this Quarterly Report have been prepared on the same basis as the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2016 that we filed with the Securities and Exchange Commission (“SEC”) on March 1, 2017 (the “2016 Annual Report”). In our opinion, we have made all necessary adjustments (which include only normal recurring adjustments) in order to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows as of the dates and for the periods presented. We have condensed the Consolidated Balance Sheet at December 31, 2016 contained in this Quarterly Report as compared to our audited Consolidated Financial Statements at that date, and we have omitted certain information and footnote disclosures (including those related to the Consolidated Balance Sheet at December 31, 2016) normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Our results of operations for the interim period s ended September 30, 2017 may not be indicative of our operating results for the full year. The Condensed Consolidated Financial Statements contained in this Quarterly Report should be read in conjunction with our 2016 Consolidated Financial Statements contained in our 2016 Annual Report. 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, 2016, December 31, 2016 and September 30, 2017. The actual dates of our annual and quarterly periods are October 2, 2016, January 1, 2017 and October 1, 2017, 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, 2017
Segment Reporting [Abstract]
Schedule of Business Segment Information	Three months ended Nine months ended September 30, September 30, 2016 2017 2016 2017 (In thousands) (In thousands) Net sales: Security Products $ 24,680 $ 22,854 $ 71,289 $ 74,903 Marine Components 3,724 4,138 11,297 12,040 Total net sales $ 28,404 $ 26,992 $ 82,586 $ 86,943 Operating income (loss): Security Products $ 5,421 $ 4,249 $ 14,676 $ 15,301 Marine Components 547 417 1,436 1,284 Corporate operating expenses (1,495 ) (1,298 ) (4,569 ) (4,091 ) Total operating income 4,473 3,368 11,543 12,494 Interest income 88 546 161 1,363 Income before taxes $ 4,561 $ 3,914 $ 11,704 $ 13,857

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Schedule of Accounts Receivable, Net	December 31, September 30, 2016 2017 (In thousands) Accounts receivable, net: Security Products $ 9,329 $ 10,153 Marine Components 1,088 1,634 Allowance for doubtful accounts (70 ) (70 ) Total accounts receivable, net $ 10,347 $ 11,717

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories, Net	December 31, September 30, 2016 2017 (In thousands) Raw materials: Security Products $ 2,365 $ 2,298 Marine Components 378 569 Total raw materials 2,743 2,867 Work-in-process: Security Products 7,387 8,154 Marine Components 1,601 1,530 Total work-in-process 8,988 9,684 Finished goods: Security Products 2,440 2,076 Marine Components 803 686 Total finished goods 3,243 2,762 Total inventories, net $ 14,974 $ 15,313

Accounts Payable and Accrued 19

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
Accounts Payable and Accrued Liabilities	December 31, September 30, 2016 2017 (In thousands) Accounts payable $ 2,614 $ 2,911 Accrued liabilities: Employee benefits 7,644 6,826 Customer tooling 346 378 Taxes other than on income 300 620 Other 978 687 Total accounts payable and accrued liabilities $ 11,882 $ 11,422

Provision for Income Taxes (Tab

Provision for Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Nine months ended September 30, 2016 2017 (In thousands) Expected tax expense, at the U.S. federal statutory income tax rate of 35% $ 4,096 $ 4,850 Domestic production activities deduction (362 ) (420 ) State income taxes 339 400 Other, net 24 76 Total income tax expense $ 4,097 $ 4,906

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Carrying Value and Estimated Fair Value of Financial Instruments	The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure: December 31, September 30, 2016 2017 Carrying Fair Carrying Fair amount value amount value (In thousands) Cash and cash equivalents $ 33,153 $ 33,153 $ 28,790 $ 28,790 Accounts receivable, net 10,347 10,347 11,717 11,717 Accounts payable 2,614 2,614 2,911 2,911

Organization and Basis of Pre22

Organization and Basis of Presentation - Additional Information (Detail)	Sep. 30, 2017
NL Industries
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	87.00%
NL Industries | Valhi Inc
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	83.00%
Contran Corporation | Valhi Inc
Basis Of Presentation And Significant Accounting Policies [Line Items]
Percentage of ownership held by parent company	93.00%

Business Segment Information -

Business Segment Information - Schedule of Business Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales:
Total net sales	$ 26,992	$ 28,404	$ 86,943	$ 82,586
Operating income (loss):
Total operating income	3,368	4,473	12,494	11,543
Interest income	546	88	1,363	161
Income before taxes	3,914	4,561	13,857	11,704
Operating Segments | Security Products
Net sales:
Total net sales	22,854	24,680	74,903	71,289
Operating income (loss):
Total operating income	4,249	5,421	15,301	14,676
Operating Segments | Marine Components
Net sales:
Total net sales	4,138	3,724	12,040	11,297
Operating income (loss):
Total operating income	417	547	1,284	1,436
Corporate
Operating income (loss):
Total operating income	$ (1,298)	$ (1,495)	$ (4,091)	$ (4,569)

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts Notes And Loans Receivable [Line Items]
Allowance for doubtful accounts	$ (70)	$ (70)
Total accounts receivable, net	11,717	10,347
Security Products
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, gross	10,153	9,329
Marine Components
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable, gross	$ 1,634	$ 1,088

Inventories, Net - Inventories,

Inventories, Net - Inventories, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory [Line Items]
Total raw materials	$ 2,867	$ 2,743
Total work-in-process	9,684	8,988
Total finished goods	2,762	3,243
Total inventories, net	15,313	14,974
Security Products
Inventory [Line Items]
Total raw materials	2,298	2,365
Total work-in-process	8,154	7,387
Total finished goods	2,076	2,440
Marine Components
Inventory [Line Items]
Total raw materials	569	378
Total work-in-process	1,530	1,601
Total finished goods	$ 686	$ 803

Accounts Payable and Accrued 26

Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Accounts payable	$ 2,911	$ 2,614
Accrued liabilities:
Employee benefits	6,826	7,644
Customer tooling	378	346
Taxes other than on income	620	300
Other	687	978
Total accounts payable and accrued liabilities	$ 11,422	$ 11,882

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Expected tax expense, at the U.S. federal statutory income tax rate of 35%			$ 4,850	$ 4,096
Domestic production activities deduction			(420)	(362)
State income taxes			400	339
Other, net			76	24
Total income tax expense	$ 1,418	$ 1,592	$ 4,906	$ 4,097

Provision for Income Taxes - 28

Provision for Income Taxes - Provision for Income Taxes (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	35.00%	35.00%

Financial Instruments - Carryin

Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 28,790	$ 33,153
Accounts receivable, net	11,717	10,347
Accounts payable	2,911	2,614
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	28,790	33,153
Accounts receivable, net	11,717	10,347
Accounts payable	$ 2,911	$ 2,614

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2016	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Note receivable from affiliate		$ 36,700,000	$ 36,700,000	$ 27,400,000
Unsecured Revolving Demand Promissory | Valhi Inc
Related Party Transaction [Line Items]
Maximum loan amount	$ 40,000,000
Interest rate on loans repayment	1.00%
Principal due on demand effective date	Dec. 31, 2018
Note receivable from affiliate		36,700,000	36,700,000
Interest income including unused commitment fees on our loan		$ 500,000	$ 1,300,000

Recent Accounting Pronounceme31

Recent Accounting Pronouncements - Additional Information (Detail) $ in Millions	Dec. 31, 2016USD ($)
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Amount of future minimum payments under non-cancellable operating leases	$ 0.6