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Other Income, net
 12 Months Ended
Dec. 31, 2013
Other Income, net  
Other Income, net

Note 17 — Other Income, net

 

Other income, net for the two years ended December 31, 2012, consisted of the following:

 

(In millions)

 

2012

 

2011

 

Business interruption insurance settlement

 

$

(9.6

)

$

—

 

Gain on sale of land

 

(4.9

)

—

 

Pension curtailment gain

 

—

 

(5.7

)

Environmental expense

 

5.0

 

2.7

 

Other income, net

 

$

(9.5

)

$

(3.0

)

 

In 2012, the company settled a business interruption insurance claim resulting from tornado damage in 2011 and recorded operating income of $9.6 million.  Also in 2012, the Company recorded a pre-tax gain of $4.9 million on the sale of land from a previously closed manufacturing facility and $5.0 million of charges primarily for additional remediation of a manufacturing facility sold in 1986.

 

Effective January 31, 2011, credited service for the participants in our U.K. plan was frozen.  This resulted in recognizing $5.7 million of prior unrecognized service credits as a curtailment gain and also reduced the projected plan obligation by $1.6 million.  Also in 2011, the Company recorded an additional $2.7 million in expense for additional environmental reserves primarily to remediate our former Lodi, New Jersey manufacturing facility that was sold in 1986 as further discussed in Note 13 to the consolidated financial statements.