		Nine months ended
		September 30,
		2018		2019
	(In millions)
Securities earnings:
Dividends and interest		$	23.5	$	8.7
Securities transactions, net			12.6		.3
Total			36.1		9.0
Currency transactions, net			4.2		5.6
Insurance recoveries			.9		5.2
Infrastructure reimbursement			4.3		9.2
Gain on land sales			12.5		4.4
Other, net			1.8		2.1
Total		$	59.8	$	35.5

Insurance recoveries reflect, in part, amounts NL received from certain of its former insurance carriers and relate to the recovery of prior lead pigment and asbestos litigation defense costs incurred by NL. In the first nine months of 2019, we recognized $5.2 million in insurance recoveries which represented recovery of past and future litigation defense costs primarily related to a single insurance recovery settlement. See Note 16.

In the first nine months of 2018, we sold two parcels of land not used in our operating activities. We sold the first parcel for net proceeds of $18.9 million and recognized a pre-tax gain on the sale of $11.9 million. In addition, NL sold excess property with a nominal book value for proceeds of $.6 million. 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.

Infrastructure reimbursement– As disclosed in Note 7 to our 2018 Annual Report, under an Owner Participation Agreement (“OPA”) entered into by LandWell with the Redevelopment Agency of the City of Henderson, Nevada, as LandWell develops certain real property for commercial and residential purposes in its master planned community in Henderson, Nevada, the cost of certain public infrastructure may be reimbursed to LandWell through tax increment.

Prior to 2018, due to the significant uncertainty of the timing and amount of any of such potential tax increment reimbursements, we recognized any such tax increment reimbursements only when received. However, due to growth in the master planned community and the increase in tax increment funds to which LandWell is entitled, we determined in the first quarter of 2018 the tax increment reimbursements expected to be collected in the future would at least be sufficient to support recognizing the promissory note payable issued by the City of Henderson to LandWell. During the first nine months of 2018, we recognized $3.1 million of other income related to the existing promissory note as of January 1, 2018. During the first nine months of 2019, we received approval for additional tax increment reimbursement of $8.8 million (primarily in the second quarter), which was recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson.