Other Operating Income (Expense)

12 Months Ended

Dec. 31, 2015

Component Of Other Income And Expense [Abstract]

Other Operating Income (Expense)

Note 16 - Other operating income (expense):

We have agreements with certain insurance carriers pursuant to which the carriers reimburse us for a portion of our past lead pigment and asbestos litigation defense costs.  Insurance recoveries include amounts we received from these insurance carriers.  The majority of the $3.7 million of insurance recoveries we recognized in 2015 relate to a settlement we reached with one of our insurance carriers in the first quarter of 2015 in which they agreed to reimburse us for a portion of our past litigation defense costs.  The majority of the $10.4 million of insurance recoveries we recognized in 2014 relate to a settlement we reached with another one of our insurance carriers in September 2014 in which they agreed to reimburse us for a portion of our past litigation defense costs.  

The agreements with certain of our insurance carriers also include reimbursement for a portion of our future litigation defense costs.  We are not able to determine how much we will ultimately recover from these carriers for defense costs incurred by us because of certain issues that arise regarding which defense costs qualify for reimbursement.  Accordingly, these insurance recoveries are recognized when the receipt is probable and the amount is determinable.  Substantially all of the insurance recoveries received in 2013 are reimbursement for ongoing litigation defense costs.  See Note 17.