Note 7—Investment in TiO₂ manufacturing joint venture and other assets:

	December 31,
	2014		2015
	(In millions)
Other assets:
Land held for development	$	165.1	$	157.2
Waste disposal site operating permits, net		53.2		48.1
Restricted cash		13.9		19.6
IBNR receivables		6.8		7.0
Capital lease deposit		6.2		6.2
Intangible assets		5.1		5.1
Other		27.5		11.8
Total	$	277.8	$	255.0

Investment in TiO₂ manufacturing joint venture. Our Chemicals Segment and another Ti0₂ producer, Tioxide Americas LLC (“Tioxide”), are equal owners of a manufacturing joint venture (Louisiana Pigment Company, L.P., or “LPC”) that owns and operates a TiO₂ plant in Lake Charles, Louisiana. Tioxide is a wholly-owned subsidiary of Huntsman Corporation.

We and Tioxide are both required to purchase one-half of the TiO₂ produced by LPC, unless we and Tioxide agree otherwise (such as in 2015, when we purchased approximately 52% of the production from the plant). LPC operates on a break-even basis and, accordingly, we report no equity in earnings of LPC. Each owner’s acquisition transfer price for its share of the TiO₂ produced is equal to its share of the joint venture’s production costs and interest expense, if any. Our share of net cost is reported as cost of sales as the related TiO₂ acquired from LPC is sold. We report distributions we receive from LPC, which generally relate to excess cash generated by LPC from its non-cash production costs, and contributions we make to LPC, which generally relate to cash required by LPC when it builds working capital, as part of our cash flows from operating activities in our Consolidated Statements of Cash Flows. The components of our net distributions (contributions) from LPC are shown in the table below.

	Years ended December 31,
	2013			2014			2015
	(In millions)
Distributions from LPC	$	70.7		$	48.0		$	48.2
Contributions to LPC		(59.8	)		(37.4	)		(41.7	)
Net distributions	$	10.9		$	10.6		$	6.5

Summary balance sheets of LPC are shown below:

	December 31,
	2014		2015
	(In millions)
ASSETS
Current assets	$	107.4	$	96.2
Property and equipment, net		110.6		110.1
Total assets	$	218.0	$	206.3
LIABILITIES AND PARTNERS’ EQUITY
Other liabilities, primarily current	$	37.3	$	37.8
Partners’ equity		180.7		168.5
Total liabilities and partners’ equity	$	218.0	$	206.3

Summary income statements of LPC are shown below:

	Years ended December 31,
	2013		2014		2015
	(In millions)
Revenues and other income:
Kronos	$	224.5	$	193.1	$	176.5
Tioxide		224.6		193.8		162.5
Total		449.1		386.9		339.0
Cost and expenses:
Cost of sales		448.7		386.4		338.5
General and administrative		.4		.5		.5
Total		449.1		386.9		339.0
Net income	$	—	$	—	$	—

Investment in Basic Management and LandWell. As discussed in Note 3, prior to December 2013 we owned a 32% interest in BMI and a 12% interest in LandWell. BMI owns an additional 50% interest in LandWell, and we accounted for our ownership interests in BMI and LandWell by the equity method of accounting. In December 2013, we acquired a controlling interest in BMI and LandWell, and we ceased to account for BMI and LandWell by the equity method and began to account for BMI and LandWell as a consolidated subsidiary. For federal income tax purposes LandWell is treated as a partnership, and accordingly the combined results of operations of BMI and LandWell include a provision for income taxes on LandWell’s earnings only to the extent that such earnings accrue to BMI. We previously recorded our equity in earnings of BMI and LandWell on a one-quarter lag because their financial statements were generally not available to us on a timely basis. Upon gaining control of BMI and LandWell in December 2013, we eliminated the one-quarter lag by recognizing, in the fourth quarter of 2013, equity in earnings of BMI and LandWell attributable to the six-month period ended December 31, 2013. The effect of this one-quarter lag, as well as the effect of us recognizing five quarters of equity in earnings of BMI and LandWell in 2013, was not material to any period presented. Certain selected combined financial information of BMI and LandWell is summarized below.

	Twelve Months ended September 30, 2013
	(in millions)
Total revenues	$	9.5
Loss before income taxes		(3.9	)
Net loss		(3.7	)

Land held for development. The land held for development relates to BMI and LandWell and is discussed in Notes 1 and 3.

Capitalized permit costs. We obtained our byproducts disposal license in 2008 and began amortizing such license when the byproduct disposal facility began operations in October 2009. We obtained our LLRW license in September 2009. Our LLRW facilities commenced operations in 2012, at which time we began amortizing such license. Amortization of capitalized operating permit costs was $6.5 million in 2013, $6.6 million in 2014 and $6.3 million in 2015. Our estimated aggregate amortization expense for all our of capitalized permit costs as of December 31, 2015 is approximately $6.3 million in each of 2016 and 2017, $5.7 million in 2018 and $5.3 million in each of 2019 and 2020. Capitalized permit costs are stated net of accumulated amortization of $25.3 million at December 31, 2014 and $31.6 million at December 31, 2015. The components of net capitalized permit costs are presented in the table below.

	December 31,
	2014		2015
	(In millions)
Net permit costs for issued permits which are being amortized:
LLRW license (expires in 2024)	$	49.6	$	44.7
Byproduct license (expires in 2018)		3.5		2.5
Other (expires 2015—2024)		.1		.1
Total amortized permits		53.2		47.3
Permits not being amortized		—		.8
Total	$	53.2	$	48.1

Other. We have certain related party transactions with LPC, as more fully described in Note 16.

The IBNR receivables relate to certain insurance liabilities, the risk of which we have reinsured with certain third party insurance carriers. We report the insurance liabilities related to these IBNR receivables which have been reinsured as part of noncurrent accrued insurance claims and expenses. Certain of our insurance liabilities are classified as current liabilities and the related IBNR receivables are classified with other current assets. See Notes 10 and 16.

Restricted cash relates primarily relates to our Waste Management Segment. In April 2014, $18.0 million of such restricted cash was released to WCS. See Note 17.

The capital lease deposit relates to certain indebtedness of our Waste Management Segment and is discussed in Note 9.

Upon acquiring a controlling interest in our Real Estate Management and Development segment in December 2013, we recognized an indefinite-lived customer relations intangible asset of $5.1 million for long-term contracts related to water delivery services to the City of Henderson, Nevada and various other users through a water system owned by BMI. See Note 3.