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Investment and Other Income, Net
 12 Months Ended
Dec. 31, 2014
Investment and Other Income, Net [Abstract]  
Investment and Other Income, Net

(8) Investment and Other Income, Net: 

The components of investment and other income, net for the years ended December 31, 2014, 2013 and 2012 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in thousands)

 

2014

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$
1,493 

 

$
2,401 

 

$
3,753 

Investment gain

 

 

 -

 

 
1,407 

 

 
9,780 

Gain on sale of Fairmount Cellular LLC

 

 
25,000 

 

 

 -

 

 

 -

Gain on sale of 700 MHz spectrum

 

 
12,041 

 

 

 -

 

 

 -

Gain on expiration/settlement of customer advances

 

 
253 

 

 
3,345 

 

 
7,798 

Split-dollar life insurance proceeds

 

 

 -

 

 
2,263 

 

 

 -

All other, net

 

 
209 

 

 
(239)

 

 
(1,199)

Total investment and other income, net

 

$
38,996 

 

$
9,177 

 

$
20,132 

 

 

 

 

 

 

 

 

 

 

 

During 2014, we sold assets that were unrelated to the Company’s operations and recognized a gain of $25 million associated with the sale of our interest in Fairmount Cellular LLC and recognized a gain of $12 million related to the sale of our 700 MHz spectrum.

 

During 2013 and 2012, we recognized income of $3 million and $8 million, respectively, in connection with certain retained liabilities that have terminated, associated with customer advances for construction from our disposed water properties.

 

During 2013 and 2012, we recognized investment gains of $1 million and $10 million, respectively, associated with cash received in connection with our previously written-off investment in Adelphia.

 

During 2013 we recognized $2 million in the settlement of a split-dollar life insurance policy for a former senior executive.