Other Income, Net

3 Months Ended

Mar. 31, 2012

Note 11—Other income, net:


	Three months ended March 31,
	2011			2012
	(In millions)
Securities earnings:
Dividends and interest	$	7.3		$	7.1
Securities transactions, net		.1			—

Total		7.4			7.1
Equity in earnings of investee		(.1	)		.1
Currency transactions, net		1.4			—
Insurance recoveries		.4			1.1
Patent litigation settlement gain		7.5			—
Other, net		.2			1.0

Total	$	16.8		$	9.3

Insurance recoveries reflect, in part, amounts we received from certain of our former insurance carriers and relate to the recovery of prior lead pigment and asbestos litigation defense costs incurred by NL.

In March 2011, CompX entered into a confidential settlement agreement under which CompX's Canadian subsidiary received approximately $7.5 million in cash which was recognized as a patent litigation settlement gain.

In May 2012, we reached an agreement with the New Jersey governmental authority and the real estate developer pursuant to which NL received an aggregate of $15.6 million cash for the third and final closing contemplated by the October 2008 settlement agreement associated with certain real property NL owned in New Jersey, as more fully described in Note 15 in our 2011 Annual Report. Upon NL's receipt of these cash proceeds, NL's equitable lien on a portion of such property was released. We expect to recognize a pre-tax gain of approximately $14.9 million in the second quarter of 2012, based on the excess of the cash proceeds received over our carrying value of the property from which our equitable lien was released.