Other Income, Net

9 Months Ended

Sep. 30, 2018

Other Income And Expenses [Abstract]

Other Income, Net

Note 13—Other income, net:

	Nine months ended September 30,
	2017			2018
	(In millions)
Securities earnings:
Dividends and interest	$	21.5		$	23.5
Securities transactions, net		.1			12.6
Total		21.6			36.1
Currency transactions, net		(8.0	)		4.2
Insurance recoveries		.2			.9
Infrastructure reimbursement		.7			4.3
Gain on land sales		—			12.5
Other, net		1.2			1.8
Total	$	15.7		$	59.8

Securities transactions, net in the first nine months of 2018 includes a $12.5 million gain on the sale of our investment in The Amalgamated Sugar Company LLC, see Note 6.

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 17.

Infrastructure reimbursement costs relate principally to tax increment reimbursements of our Real Estate Management and Development Segment discussed in Note 7.

In the first quarter 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. We were required under our debt agreement with NERT to use a portion of the net proceeds received for the property to pay down our note balance and accordingly we made $2.2 million in principal payments on our debt, see Note 8.  In addition, NL sold excess property with a nominal book value for proceeds of $.6 million.