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Other
 6 Months Ended
Jun. 30, 2018
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
June 30,
 
Six Months Ended
June 30,
 
2018
 
2017
 
2018
 
2017
Provisions for environmental matters - net
$
31,253

 
$
1,110

 
$
32,018

 
$
1,629

(Gain) loss on sale or disposition of assets
(4,274
)
 
665

 
(2,049
)
 
422

Total
$
26,979

 
$
1,775

 
$
29,969

 
$
2,051


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 10 for further details on the Company’s environmental-related activities.
The (gain) loss on sale or disposition of assets represents net realized (gains) losses associated with the sale or disposal of fixed assets previously used in the conduct of the primary business of the Company.
Other income - net
Included in Other income - net were the following:
 
(Thousands of dollars)
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2018
 
2017
 
2018
 
2017
Dividend and royalty income
$
(1,521
)
 
$
(1,198
)
 
$
(2,972
)
 
$
(3,042
)
Net expense from banking activities
2,450

 
2,513

 
4,686

 
4,985

Foreign currency transaction related losses (gains)
5,626

 
976

 
3,164

 
(2,610
)
Miscellaneous pension income
(3,903
)
 
(10,726
)
 
(7,447
)
 
(11,793
)
Other income
(6,999
)
 
(5,937
)
 
(14,108
)
 
(10,897
)
Other expense
3,208

 
1,876

 
6,266

 
5,427

Total
$
(1,139
)
 
$
(12,496
)
 
$
(10,411
)
 
$
(17,930
)

Foreign currency transaction related losses (gains) represent net realized losses (gains) on U.S. dollar-denominated liabilities of foreign subsidiaries and net realized and unrealized losses (gains) from foreign currency option and forward contracts. There were no material foreign currency option and forward contracts outstanding at June 30, 2018 and 2017.
Miscellaneous pension income consists of the non-service components of net pension costs (credits). See Note 2 for information on the adoption of ASU No. 2017-07 and Note 9 for the detail of net pension costs (credits).
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.