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Other
 9 Months Ended
Sep. 30, 2016
Other Income and Expenses [Abstract]  
OTHER
OTHER
Other general expense - net
Included in Other general expense - net were the following:
(Thousands of dollars)
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Provisions for environmental matters - net
$
683

 
$
7,128

 
$
21,219

 
$
18,688

Loss (gain) on disposition of assets
130

 
1,989

 
(119
)
 
(1,273
)
Total
$
813

 
$
9,117

 
$
21,100

 
$
17,415


Provisions for environmental matters - net represent site-specific increases or decreases to environmental-related accruals as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. Environmental-related accruals are not recorded net of insurance proceeds in accordance with the Offsetting Subtopic of the Balance Sheet Topic of the ASC. See Note 8 for further details on the Company’s environmental-related activities.
The loss (gain) on disposition of assets represents net realized losses (gains) associated with the disposal of fixed assets previously used in the conduct of the primary business of the Company.
Other (income) expense - net
Included in Other (income) expense - net were the following:
 
(Thousands of dollars)
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Dividend and royalty income
$
(1,346
)
 
$
(313
)
 
$
(3,511
)
 
$
(2,433
)
Net expense from banking activities
2,161

 
3,223

 
6,532

 
8,387

Foreign currency transaction related losses
3,779

 
4,100

 
7,288

 
6,960

Other income
(7,920
)
 
(4,682
)
 
(18,250
)
 
(15,022
)
Other expense
2,601

 
1,733

 
7,390

 
6,601

Total
$
(725
)
 
$
4,061

 
$
(551
)
 
$
4,493


Foreign currency transaction related losses represent net realized losses on U.S. dollar-denominated liabilities of foreign subsidiaries and net realized and unrealized losses from foreign currency option and forward contracts. There were no material foreign currency option and forward contracts outstanding at September 30, 2016 and 2015.
Other income and Other expense included items of revenue, gains, expenses and losses that were unrelated to the primary business purpose of the Company. There were no other items within the other income or other expense caption that were individually significant.