Other Income, Net

3 Months Ended

Mar. 31, 2021

Other Income And Expenses [Abstract]

Other Income, Net

Note 11—Other income, net:

	Three months ended
	March 31,
	2020			2021
	(In millions)
Securities earnings:
Dividends and interest	$	2.0		$	.9
Securities transactions, net		(.4	)		-
Total		1.6			.9
Currency transactions, net		12.2			(.5	)
Insurance recoveries		1.6			-
Infrastructure reimbursement		19.1			6.2
Gain on land and related sales		.5			-
Other, net		(.1	)		.4
Total	$	34.9		$	7.0

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.  See Note 15.  In the first quarter of 2020, Kronos recognized a $1.5 million gain related to an insurance settlement for a property damage claim.

Infrastructure reimbursement– As disclosed in Note 7 to our 2020 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.  During the first quarters of 2020 and 2021, LandWell received approval for additional tax increment reimbursement of $19.1 million and $6.2 million, respectively, which was recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson.