Other income, net

6 Months Ended

Jun. 30, 2023

Other Income And Expenses [Abstract]

Other Income, Net

Note 12 – Other income, net:

	Six months ended
	June 30,
	2022		2023
	(In millions)
Interest income and other:
Interest and dividends	$	2.8	$	9.4
Securities transactions, net		(.5)		.2
Total		2.3		9.6
Gain on land sales		—		1.5
Currency transactions, net		10.4		8.5
Insurance recoveries		—		2.2
Infrastructure reimbursement		.8		—
Other, net		1.5		1.8
Total	$	15.0	$	23.6

Land sales – In the second quarter of 2023, we sold excess property not used in our operations for net proceeds of approximately $1.8 million and recognized a pre-tax gain of $1.5 million.

Insurance recoveries – On August 24, 2020, LPC temporarily halted production due to Hurricane Laura. Although storm damage to core processing facilities was not extensive, a variety of factors, including loss of utilities and limited access and availability of employees and raw materials, prevented the resumption of operations until September 25, 2020. The majority of Kronos’ losses from property damage and its share of LPC’s lost production and other costs resulting from the disruption of operations were covered by insurance. Kronos recognized a gain of $2.2 million related to its business interruption claim in the first six months of 2023.

Infrastructure reimbursement  – LandWell has an agreement with the energy utility providing electric power to the Cadence master planned community under which certain costs incurred for the development of power infrastructure may be reimbursed to LandWell.  During the second quarter of 2022, LandWell received $.8 million in reimbursement for past costs incurred.