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Other Income, Net | 6 Months Ended
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Jun. 30, 2012
Other Income, Net [Abstract] |
Other Income Net | Note 11 – Other income, net:
|  | Six months ended June 30, |
|  | 2011 |  |  | 2012 |
|  | (In millions) |
Securities earnings: |  |  |  |  |  |  |  |
Dividends and interest |  | $ | 14.7 |  |  | $ | 14.1 |
Securities transactions, net |  |  | .1 |  |  |  | .1 |
Total |  |  | 14.8 |  |  |  | 14.2 |
Equity in earnings of investee |  |  | (.2 | ) |  |  | — |
Currency transactions, net |  |  | 2.4 |  |  |  | .4 |
Insurance recoveries |  |  | .5 |  |  |  | 1.4 |
Litigation settlement gain |  |  | — |  |  |  | 14.7 |
Patent litigation settlement gain |  |  | 7.5 |  |  |  | — |
Other, net |  |  | .6 |  |  |  | 1.2 |
Total |  | $ | 25.6 |  |  | $ | 31.9 |
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, NL 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 formerly owned in New Jersey, as more fully described in Note 17 in our 2011 Annual Report. Upon NL’s receipt of these cash proceeds, our equitable lien on a portion of such property was released. For financial reporting purposes, we have accounted for the consideration received in each of the first, second and third closings contemplated by the October 2008 settlement agreement by the full accrual method of accounting for real estate sales (since the settlement agreement arose out of a dispute concerning the adequacy of the condemnation proceeds of our former real property in New Jersey). Under this method, we recognized a pre-tax gain of approximately $14.7 million in the second quarter of 2012, based on the excess of the $15.6 million cash proceeds received over our carrying value of the property from which our equitable lien was released. Similarly, the cash received in the third closing is reflected as an investing activity in our Condensed Consolidated Statement of Cash Flows.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3,6,7,9) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 3, 6, 7, 9 -Article 5 + Details
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