Other income, net

12 Months Ended

Dec. 31, 2021

Other Income And Expenses [Abstract]

Other income, net

Note 13 – Other income, net:

	Years ended December 31,
	2019		2020		2021
	(In millions)
Securities earnings:
Dividends and interest	$	10.9	$	4.8	$	4.0
Securities transactions, net		.3		(.1)		—
Total		11.2		4.7		4.0
Gain on land sales		4.4		4.5		16.0
Infrastructure reimbursements		9.2		19.7		15.3
Insurance recoveries		7.7		1.6		.1
Currency transactions, net		2.0		(4.0)		1.6
Disposal of property and equipment, net		(.3)		(.2)		(.6)
Gain on sale of business		3.0		—		—
Other, net		3.7		2.1		2.6
Total	$	40.9	$	28.4	$	39.0

Infrastructure reimbursements related to the OPA are discussed in Note 7.

Insurance recoveries relate primarily to amounts NL received from certain of its former insurance carriers, and relate principally to the recovery of prior lead pigment and asbestos litigation defense costs. NL has agreements with certain of its former insurance carriers pursuant to which the carriers reimburse it for a portion of its future lead pigment litigation defense costs, and one such carrier reimburses NL for a portion of its future asbestos litigation defense costs. We are not able to determine how much NL will ultimately recover from these carriers for defense costs incurred, because of certain issues that arise regarding which defense costs qualify for reimbursement. While NL continues to seek additional insurance recoveries for lead pigment and asbestos litigation matters, we do not know the extent to which it will be successful in obtaining additional reimbursement for either defense costs or indemnity. In 2019, NL recognized $5.1 million in insurance recoveries which represented recovery of past and future litigation defense costs primarily related to a single insurance recovery settlement. In the fourth quarter of 2019 and the first quarter of 2020, Kronos recognized gains of $2.6 million and $1.5 million, respectively, related to an insurance settlement for a property damage claim.

In the third quarter of 2019, NL sold excess property for net proceeds of $4.6 million and recognized a pre-tax gain of $4.4 million. In the fourth quarter of 2019, NL sold its insurance and risk management business for proceeds of $3.25 million and recognized a pre-tax gain of $3.0 million on the sale. In the third quarter of 2020, BMI recognized a pre-tax gain of $4.0 million related to proceeds received associated with a prior land sale. In 2021 we sold excess property not used in our operations for net proceeds of approximately $23.4 million (including $8.4 million in the second quarter and $15.0 million in the third quarter) and recognized a pre-tax gain of $16.0 million (including $5.6 million in the second quarter and $10.4 million in the third quarter).