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Other Income, Net | 6 Months Ended
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Jun. 30, 2019
Other Income And Expenses [Abstract] |
Other Income, Net | Note 12—Other income, net:
| Six months ended June 30, |
| 2018 |  |  | 2019 |
| (In millions) |
Securities earnings: |  |  |  |  |  |  |
Dividends and interest | $ | 16.8 |  |  | $ | 6.1 |
Securities transactions, net |  | — |  |  |  | .3 |
|  | 16.8 |  |  |  | 6.4 |
Currency transactions, net |  | 4.8 |  |  |  | (.2 | )
Insurance recoveries |  | .4 |  |  |  | 5.0 |
Infrastructure reimbursement |  | 4.0 |  |  |  | 9.1 |
Gain on land sales |  | 12.5 |  |  |  | .7 |
Other, net |  | 1.2 |  |  |  | 1.0 |
Total | $ | 39.7 |  |  | $ | 22.0 |
Insurance recoveries reflect, in part, amounts NL received from certain of its former insurance carriers and relate to the recovery of prior lead pigment and asbestos litigation defense costs incurred by NL. In the second quarter of 2019, we recognized $4.7 million in insurance recoveries which represented recovery of past and future litigation defense costs primarily from one insurance carrier. See Note 16. In the first six months of 2018 we sold two parcels of land not used in our operating activities. We sold the first parcel for net proceeds of $18.9 million, and recognized a pre-tax gain on the sale of $11.9 million. In addition NL sold excess property with a nominal book value for proceeds of $.6 million. Infrastructure reimbursement- As disclosed in Note 7 to our 2018 Annual Report, under an Owner Participation Agreement (“OPA”) entered into by LandWell with the Redevelopment Agency of the City of Henderson, Nevada, as LandWell develops certain real property for commercial and residential purposes in its master planned community in Henderson, Nevada, the cost of certain public infrastructure may be reimbursed to LandWell through tax increment. Prior to 2018, due to the significant uncertainty of the timing and amount of any of such potential tax increment reimbursements, we recognized any such tax increment reimbursements only when received. However, due to growth in the master planned community and the increase in tax increment funds to which LandWell is entitled, we determined in the first quarter of 2018 the tax increment reimbursements expected to be collected in the future would at least be sufficient to support recognizing the promissory note payable issued by the City of Henderson to LandWell. During the first six months of 2018, we recognized $3.1 million of other income related to the existing promissory note as of January 1, 2018. During the first six months of 2019, we received approval for additional tax increment reimbursement of $8.8 million (primarily in the second quarter), which was recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
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