Other Income, Net

6 Months Ended

Jun. 30, 2021

Other Income And Expenses [Abstract]

Note 11 – Other income, net:

	Six months ended
	June 30,
	2020			2021
	(In millions)
Securities earnings:
Dividends and interest	$	2.9		$	1.9
Securities transactions, net		(.3	)		.1
Total		2.6			2.0
Currency transactions, net		6.1			-
Insurance recoveries		1.6			-
Infrastructure reimbursement		19.1			6.2
Gain on land and related sales		.5			5.6
Other, net		1.4			1.0
Total	$	31.3		$	14.8

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. See Note 15. In the first quarter of 2020, Kronos recognized a $1.5 million gain related to an insurance settlement for a property damage claim.

In the second quarter of 2021 we sold excess property not used in our operations for net proceeds of approximately $8.4 million and recognized a pre-tax gain of $5.6 million.

Infrastructure reimbursement– As disclosed in Note 7 to our 2020 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. During the first six months of 2020 and 2021, LandWell received approval for additional tax increment reimbursement of $19.1 million (all in the first quarter) and $6.2 million (all in the first quarter), respectively, which was recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson.