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

	December 31,
	2016		2017
	(In millions)
Other assets:
Land held for development	$	138.1	$	126.6
Restricted cash equivalents		2.6		9.9
IBNR receivables		7.1		6.8
Other		16.9		26.6
Total	$	164.7	$	169.9

Investment in TiO₂ manufacturing joint venture. Our Chemicals Segment owns a 50% interest in Louisiana Pigment Company, L.P. (LPC). LPC is a manufacturing joint venture whose other 50%-owner is Huntsman P&A Investments LLC (HPA). HPA is a wholly-owned subsidiary of Tioxide Group, of which Venator Materials PLC owns 100% and is the ultimate parent. LPC owns and operates a chloride-process TiO₂ plant in Lake Charles, Louisiana.

We and HPA are both required to purchase one-half of the TiO₂ produced by LPC, unless we and HPA agree otherwise (such as in 2016, 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,
	2015			2016			2017
	(In millions)
Distributions from LPC	$	48.2		$	35.0		$	44.0
Contributions to LPC		(41.7	)		(31.4	)		(50.0	)
Net distributions	$	6.5		$	3.6		$	(6.0	)

Summary balance sheets of LPC are shown below:

	December 31,
	2016		2017
	(In millions)
ASSETS
Current assets	$	94.5	$	104.1
Property and equipment, net		111.6		116.1
Total assets	$	206.1	$	220.2
LIABILITIES AND PARTNERS’ EQUITY
Other liabilities, primarily current	$	45.2	$	44.4
Partners’ equity		160.9		175.8
Total liabilities and partners’ equity	$	206.1	$	220.2

Summary income statements of LPC are shown below:

	Years ended December 31,
	2015		2016		2017
	(In millions)
Revenues and other income:
Kronos	$	176.5	$	157.5	$	157.5
Tioxide		162.5		157.9		158.3
Total		339.0		315.4		315.8
Cost and expenses:
Cost of sales		338.5		314.9		315.4
General and administrative		.5		.5		.4
Total		339.0		315.4		315.8
Net income	$	—	$	—	$	—

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

Other. We have certain related party transactions with LPC, as more fully described in Note 17.

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 17.

Upon acquiring a controlling interest in our Real Estate Management and Development Segment in December 2013, we recognized an indefinite-lived customer relationship 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. Aggregate revenues associated with water delivered under the City of Henderson contract have historically represented approximately 70% of the Segment’s aggregate water delivery revenues. These contracts generally span many years and feature automatic renewing provisions. The initial City of Henderson water delivery contract extended for a period of 25 years, and contained an automatic renewal provision. In January 2016, the water delivery contract with the City of Henderson was amended. As part of such amendment, required minimum volumes were reduced, pricing was lowered, the automatic renewal provision of the contract was eliminated, and the contract term now runs through June 2040. The amendment to the City of Henderson water delivery contract represents an event or change in circumstance which triggered the need to perform a quantitative impairment analysis with respect to the intangible asset in the first quarter of 2016, in accordance with the guidance in ASC 350-30-35. Accordingly, as a result of a quantitative impairment analysis performed in the first quarter of 2016 we concluded that the $5.1 million contract related intangible asset primarily related to the City of Henderson water delivery contract was fully impaired as a result of the amended contract (with its reduced minimum volumes and lower pricing), and we recognized an aggregate $5.1 million contract related intangible impairment loss in 2016.