Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 29, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | CIX | |
Entity Registrant Name | COMPX INTERNATIONAL INC | |
Entity Central Index Key | 0001049606 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 12,401,157 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
City Area Code | 972 | |
Entity Address, Address Line One | 5430 LBJ Freeway | |
Entity Address, Address Line Two | Suite 1700 | |
Entity Address, Address Line Three | Three Lincoln Centre | |
Entity Address, City or Town | Dallas | |
Entity Address, Postal Zip Code | 75240 | |
Entity Address, State or Province | TX | |
Entity Current Reporting Status | Yes | |
Entity File Number | 1-13905 | |
Entity Incorporation, State or Country Code | DE | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Tax Identification Number | 57-0981653 | |
Local Phone Number | 448-1400 | |
Title of 12(b) Security | Class A common stock | |
Security Exchange Name | NYSEAMER |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 64,747 | $ 70,637 |
Accounts receivable, net | 16,858 | 10,731 |
Inventories, net | 18,153 | 18,337 |
Prepaid expenses and other | 2,049 | 1,541 |
Total current assets | 101,807 | 101,246 |
Other assets: | ||
Note receivable from affiliate | 29,200 | 29,500 |
Goodwill | 23,742 | 23,742 |
Other noncurrent | 591 | 607 |
Total other assets | 53,533 | 53,849 |
Property and equipment: | ||
Land | 4,940 | 4,940 |
Buildings | 23,146 | 23,146 |
Equipment | 68,659 | 68,227 |
Construction in progress | 935 | 1,010 |
Gross property and equipment | 97,680 | 97,323 |
Less accumulated depreciation | 69,219 | 68,373 |
Net property and equipment | 28,461 | 28,950 |
Total assets | 183,801 | 184,045 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 9,497 | 12,198 |
Income taxes payable to affiliate | 1,804 | 952 |
Total current liabilities | 11,301 | 13,150 |
Noncurrent liabilities - | ||
Deferred income taxes | 3,404 | 3,239 |
Stockholders' equity: | ||
Preferred stock | ||
Additional paid-in capital | 55,232 | 55,987 |
Retained earnings | 113,740 | 111,545 |
Total stockholders' equity | 169,096 | 167,656 |
Total liabilities and stockholders’ equity | 183,801 | 184,045 |
Commitments and contingencies (Note 1) | ||
Class A Common Stock | ||
Stockholders' equity: | ||
Common stock | 124 | 124 |
Total stockholders' equity | $ 124 | $ 124 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Statement [Abstract] | ||
Net sales | $ 35,924 | $ 32,311 |
Cost of sales | 24,889 | 21,880 |
Gross margin | 11,035 | 10,431 |
Selling, general and administrative expense | 5,218 | 5,411 |
Operating income | 5,817 | 5,020 |
Interest income | 338 | 607 |
Income before income taxes | 6,155 | 5,627 |
Provision for income taxes | 1,470 | 1,356 |
Net income | $ 4,685 | $ 4,271 |
Basic and diluted net income per common share | $ 0.38 | $ 0.34 |
Basic and diluted weighted average shares outstanding | 12,443 | 12,443 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) | Total | Class A Common Stock | Additional paid-in Capital | Retained Earnings | Treasury Stock |
Balance at Dec. 31, 2019 | $ 162,195,000 | $ 124,000 | $ 55,869,000 | $ 106,202,000 | |
Net income | 4,271,000 | 4,271,000 | |||
Cash dividends | (1,244,000) | (1,244,000) | |||
Balance at Mar. 31, 2020 | 165,222,000 | 124,000 | 55,869,000 | 109,229,000 | |
Balance at Dec. 31, 2020 | 167,656,000 | 124,000 | 55,987,000 | 111,545,000 | |
Net income | 4,685,000 | 4,685,000 | |||
Cash dividends | (2,490,000) | (2,490,000) | |||
Treasury stock: | |||||
Acquired | (755,000) | $ (755,000) | |||
Retired | (755,000) | $ 755,000 | |||
Balance at Mar. 31, 2021 | $ 169,096,000 | $ 124,000 | $ 55,232,000 | $ 113,740,000 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement Of Stockholders Equity [Abstract] | ||
Cash dividends per share | $ 0.20 | $ 0.10 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 4,685 | $ 4,271 |
Depreciation and amortization | 949 | 950 |
Deferred income taxes | 165 | 93 |
Other, net | 35 | 62 |
Change in assets and liabilities: | ||
Accounts receivable, net | (6,127) | (3,362) |
Inventories, net | 151 | (673) |
Accounts payable and accrued liabilities | (2,595) | (3,011) |
Accounts with affiliates | 936 | 1,389 |
Prepaids and other, net | (576) | 76 |
Net cash used in operating activities | (2,377) | (205) |
Cash flows from investing activities: | ||
Capital expenditures | (568) | (360) |
Note receivable from affiliate: | ||
Collections | 11,900 | 18,228 |
Advances | (11,600) | (15,628) |
Net cash provided by (used in) investing activities | (268) | 2,240 |
Cash flows from financing activities: | ||
Dividends paid | (2,490) | (1,244) |
Treasury stock acquired | (755) | |
Net cash used in financing activities | (3,245) | (1,244) |
Cash and cash equivalents - net change from: | ||
Operating, investing and financing activities | (5,890) | 791 |
Balance at beginning of period | 70,637 | 63,255 |
Balance at end of period | 64,747 | $ 64,046 |
Supplemental disclosures - | ||
Cash paid for income taxes | $ 446 |
Organization and Basis of Prese
Organization and Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization and Basis of Presentation | Note 1 – Organization and basis of presentation: Organization . We (NYSE American: CIX) were approximately 87% owned by NL Industries, Inc. (NYSE: NL) at March 31, 2021. We manufacture and sell component products (security products and recreational marine components). At March 31, 2021, Valhi, Inc. (NYSE: VHI) owned approximately 83% of NL’s outstanding common stock and a wholly-owned subsidiary of Contran Corporation owned approximately 92% of Valhi’s outstanding common stock. A majority of Contran's outstanding voting stock is held directly by Lisa K. Simmons and various family trusts established for the benefit of Ms. Simmons, Thomas C. Connelly (the husband of Ms. Simmons’ late sister) and their children and for which Ms. Simmons or Mr. Connelly, as applicable, serve as trustee (collectively, the “Other Trusts”). With respect to the Other Trusts for which Mr. Connelly serves as trustee, he is required to vote the shares of Contran voting stock held in such trusts in the same manner as Ms. Simmons. Such voting rights of Ms. Simmons last through April 22, 2030 and are personal to Ms. Simmons . The remainder of Contran’s outstanding voting stock is held by another trust (the “Family Trust”), which was established for the benefit of Ms. Simmons and her late sister and their children and for which a third-party financial institution serves as trustee. Consequently, at March 31, 2021 Ms. Simmons and the Family Trust may be deemed to control Contran, and therefore may be deemed to indirectly control the wholly-owned subsidiary of 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, 2020 that we filed with the Securities and Exchange Commission (“SEC”) on March 3, 2021 (the “2020 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, 2020 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, 2020) 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 ended March 31, 2021 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 2020 Consolidated Financial Statements contained in our 2020 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 March 31, 2020, December 31, 2020 and March 31, 2021. The actual dates of our annual and quarterly periods are March 29, 2020, January 3, 2021 and April 4, 2021, 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 | 3 Months Ended |
Mar. 31, 2021 | |
Segment Reporting [Abstract] | |
Business Segment Information | Note 2 – Business segment information: Three months ended March 31, 2020 2021 (In thousands) Net sales: Security Products $ 25,469 $ 25,885 Marine Components 6,842 10,039 Total net sales $ 32,311 $ 35,924 Operating income (loss): Security Products $ 5,713 $ 5,490 Marine Components 1,082 1,943 Corporate operating expenses (1,775 ) (1,616 ) Total operating income 5,020 5,817 Interest income 607 338 Income before income taxes $ 5,627 $ 6,155 Intersegment sales are not material. |
Accounts Receivable, Net
Accounts Receivable, Net | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Accounts Receivable, Net | Note 3 – Accounts receivable, net: December 31, March 31, 2020 2021 (In thousands) Accounts receivable, net: Security Products $ 8,797 $ 13,228 Marine Components 2,004 3,700 Allowance for doubtful accounts (70 ) (70 ) Total accounts receivable, net $ 10,731 $ 16,858 |
Inventories, Net
Inventories, Net | 3 Months Ended |
Mar. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories, Net | Note 4 – Inventories, net: December 31, March 31, 2020 2021 (In thousands) Raw materials: Security Products $ 2,318 $ 2,744 Marine Components 902 906 Total raw materials 3,220 3,650 Work-in-process: Security Products 9,214 9,066 Marine Components 2,454 2,438 Total work-in-process 11,668 11,504 Finished goods: Security Products 2,235 2,086 Marine Components 1,214 913 Total finished goods 3,449 2,999 Total inventories, net $ 18,337 $ 18,153 |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 3 Months Ended |
Mar. 31, 2021 | |
Payables And Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities | Note 5 – Accounts payable and accrued liabilities: December 31, March 31, 2020 2021 (In thousands) Accounts payable: Security Products $ 1,859 $ 1,864 Marine Components 773 1,193 Accrued liabilities: Employee benefits 8,431 4,748 Taxes other than on income 301 492 Customer tooling 393 365 Professional services - 243 Other 441 592 Total accounts payable and accrued liabilities $ 12,198 $ 9,497 |
Provision for Income Taxes
Provision for Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Taxes | Note 6 – Provision for income taxes: Three months ended March 31, 2020 2021 (In thousands) Expected tax expense, at the U.S. federal statutory income tax rate of 21% $ 1,182 $ 1,293 State income taxes 197 200 FDII benefit (28 ) (23 ) Other, net 5 — Total income tax expense $ 1,356 $ 1,470 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Stockholders' Equity | Note 7 – 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 will use cash on hand to acquire the shares. Repurchased shares will be added to our treasury and cancelled. During the first quarter of 2021, we purchased 50,000 shares of our Class A common stock in a market transaction for approximately $755,000. We cancelled these treasury shares and allocated their cost to common stock at par value and additional paid-in capital. At March 31, 2021 627,547 shares were available for purchase under prior repurchase authorizations. |
Financial Instruments
Financial Instruments | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | Note 8 – Financial instruments: The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure: December 31, March 31, 2020 2021 Carrying Fair Carrying Fair amount value amount value (In thousands) Cash and cash equivalents $ 70,637 $ 70,637 $ 64,747 $ 64,747 Accounts receivable, net 10,731 10,731 16,858 16,858 Accounts payable 2,632 2,632 3,057 3,057 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 | 3 Months Ended |
Mar. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 9 – 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 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, 2022. Loans made to Valhi at any time under the agreement are at our discretion. At March 31, 2021, the outstanding principal balance receivable from Valhi under the promissory note was $29.2 million. Interest income (including unused commitment fees) on our loan to Valhi was $0.4 million and $0.3 million for the three months ended March 31, 2020 and 2021, respectively. |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization | Organization . We (NYSE American: CIX) were approximately 87% owned by NL Industries, Inc. (NYSE: NL) at March 31, 2021. We manufacture and sell component products (security products and recreational marine components). At March 31, 2021, Valhi, Inc. (NYSE: VHI) owned approximately 83% of NL’s outstanding common stock and a wholly-owned subsidiary of Contran Corporation owned approximately 92% of Valhi’s outstanding common stock. A majority of Contran's outstanding voting stock is held directly by Lisa K. Simmons and various family trusts established for the benefit of Ms. Simmons, Thomas C. Connelly (the husband of Ms. Simmons’ late sister) and their children and for which Ms. Simmons or Mr. Connelly, as applicable, serve as trustee (collectively, the “Other Trusts”). With respect to the Other Trusts for which Mr. Connelly serves as trustee, he is required to vote the shares of Contran voting stock held in such trusts in the same manner as Ms. Simmons. Such voting rights of Ms. Simmons last through April 22, 2030 and are personal to Ms. Simmons . The remainder of Contran’s outstanding voting stock is held by another trust (the “Family Trust”), which was established for the benefit of Ms. Simmons and her late sister and their children and for which a third-party financial institution serves as trustee. Consequently, at March 31, 2021 Ms. Simmons and the Family Trust may be deemed to control Contran, and therefore may be deemed to indirectly control the wholly-owned subsidiary of 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, 2020 that we filed with the Securities and Exchange Commission (“SEC”) on March 3, 2021 (the “2020 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, 2020 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, 2020) 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 ended March 31, 2021 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 2020 Consolidated Financial Statements contained in our 2020 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 March 31, 2020, December 31, 2020 and March 31, 2021. The actual dates of our annual and quarterly periods are March 29, 2020, January 3, 2021 and April 4, 2021, 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) | 3 Months Ended |
Mar. 31, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Business Segment Information | Three months ended March 31, 2020 2021 (In thousands) Net sales: Security Products $ 25,469 $ 25,885 Marine Components 6,842 10,039 Total net sales $ 32,311 $ 35,924 Operating income (loss): Security Products $ 5,713 $ 5,490 Marine Components 1,082 1,943 Corporate operating expenses (1,775 ) (1,616 ) Total operating income 5,020 5,817 Interest income 607 338 Income before income taxes $ 5,627 $ 6,155 |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Schedule of Accounts Receivable, Net | December 31, March 31, 2020 2021 (In thousands) Accounts receivable, net: Security Products $ 8,797 $ 13,228 Marine Components 2,004 3,700 Allowance for doubtful accounts (70 ) (70 ) Total accounts receivable, net $ 10,731 $ 16,858 |
Inventories, Net (Tables)
Inventories, Net (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories, Net | December 31, March 31, 2020 2021 (In thousands) Raw materials: Security Products $ 2,318 $ 2,744 Marine Components 902 906 Total raw materials 3,220 3,650 Work-in-process: Security Products 9,214 9,066 Marine Components 2,454 2,438 Total work-in-process 11,668 11,504 Finished goods: Security Products 2,235 2,086 Marine Components 1,214 913 Total finished goods 3,449 2,999 Total inventories, net $ 18,337 $ 18,153 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Payables And Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities | December 31, March 31, 2020 2021 (In thousands) Accounts payable: Security Products $ 1,859 $ 1,864 Marine Components 773 1,193 Accrued liabilities: Employee benefits 8,431 4,748 Taxes other than on income 301 492 Customer tooling 393 365 Professional services - 243 Other 441 592 Total accounts payable and accrued liabilities $ 12,198 $ 9,497 |
Provision for Income Taxes (Tab
Provision for Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Taxes | Three months ended March 31, 2020 2021 (In thousands) Expected tax expense, at the U.S. federal statutory income tax rate of 21% $ 1,182 $ 1,293 State income taxes 197 200 FDII benefit (28 ) (23 ) Other, net 5 — Total income tax expense $ 1,356 $ 1,470 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
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, March 31, 2020 2021 Carrying Fair Carrying Fair amount value amount value (In thousands) Cash and cash equivalents $ 70,637 $ 70,637 $ 64,747 $ 64,747 Accounts receivable, net 10,731 10,731 16,858 16,858 Accounts payable 2,632 2,632 3,057 3,057 |
Organization and Basis of Pre_3
Organization and Basis of Presentation - Additional Information (Detail) | Mar. 31, 2021 |
NL Industries | CompX International Inc | |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |
Percentage of ownership held by parent company | 87.00% |
Valhi Inc | NL Industries | |
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 | 92.00% |
Business Segment Information -
Business Segment Information - Schedule of Business Segment Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net sales: | ||
Total net sales | $ 35,924 | $ 32,311 |
Operating income (loss): | ||
Total operating income | 5,817 | 5,020 |
Interest income | 338 | 607 |
Income before income taxes | 6,155 | 5,627 |
Operating Segments | Security Products | ||
Net sales: | ||
Total net sales | 25,885 | 25,469 |
Operating income (loss): | ||
Total operating income | 5,490 | 5,713 |
Operating Segments | Marine Components | ||
Net sales: | ||
Total net sales | 10,039 | 6,842 |
Operating income (loss): | ||
Total operating income | 1,943 | 1,082 |
Corporate | ||
Operating income (loss): | ||
Total operating income | $ (1,616) | $ (1,775) |
Accounts Receivable, Net - Sche
Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance for doubtful accounts | $ (70) | $ (70) |
Total accounts receivable, net | 16,858 | 10,731 |
Security Products | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Accounts receivable, gross | 13,228 | 8,797 |
Marine Components | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Accounts receivable, gross | $ 3,700 | $ 2,004 |
Inventories, Net - Inventories,
Inventories, Net - Inventories, Net (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Inventory [Line Items] | ||
Total raw materials | $ 3,650 | $ 3,220 |
Total work-in-process | 11,504 | 11,668 |
Total finished goods | 2,999 | 3,449 |
Total inventories, net | 18,153 | 18,337 |
Security Products | ||
Inventory [Line Items] | ||
Total raw materials | 2,744 | 2,318 |
Total work-in-process | 9,066 | 9,214 |
Total finished goods | 2,086 | 2,235 |
Marine Components | ||
Inventory [Line Items] | ||
Total raw materials | 906 | 902 |
Total work-in-process | 2,438 | 2,454 |
Total finished goods | $ 913 | $ 1,214 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accrued liabilities: | ||
Employee benefits | $ 4,748 | $ 8,431 |
Taxes other than on income | 492 | 301 |
Customer tooling | 365 | 393 |
Professional services | 243 | |
Other | 592 | 441 |
Total accounts payable and accrued liabilities | 9,497 | 12,198 |
Security Products | ||
Accounts payable: | ||
Accounts payable | 1,864 | 1,859 |
Marine Components | ||
Accounts payable: | ||
Accounts payable | $ 1,193 | $ 773 |
Provision for Income Taxes - Pr
Provision for Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Expected tax expense, at the U.S. federal statutory income tax rate of 21% | $ 1,293 | $ 1,182 |
State income taxes | 200 | 197 |
FDII benefit | (23) | (28) |
Other, net | 5 | |
Total income tax expense | $ 1,470 | $ 1,356 |
Provision for Income Taxes - _2
Provision for Income Taxes - Provision for Income Taxes (Parenthetical) (Detail) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
U.S. federal statutory income tax rate | 21.00% | 21.00% |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) shares in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($)shares | |
Share Based Arrangements To Obtain Goods And Services [Abstract] | |
Treasury stock purchases | 50,000 |
Treasury stock purchases, value | $ | $ 755,000 |
Shares available for purchase | 627,547 |
Financial Instruments - Carryin
Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Carrying Amount | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 64,747 | $ 70,637 |
Accounts receivable, net | 16,858 | 10,731 |
Accounts payable | 3,057 | 2,632 |
Fair Value | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 64,747 | 70,637 |
Accounts receivable, net | 16,858 | 10,731 |
Accounts payable | $ 3,057 | $ 2,632 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | ||
Aug. 31, 2016 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | ||||
Note receivable from affiliate | $ 29,200,000 | $ 29,500,000 | ||
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, 2022 | |||
Note receivable from affiliate | 29,200,000 | |||
Interest income including unused commitment fees on our loan | $ 300,000 | $ 400,000 |