(9) Other Income, Net:
The components of other income, net for the years ended December 31, 2013, 2012 and 2011 are as follows:
|
($ in thousands) |
2013 |
2012 |
2011 |
||||||
|
Gain on expiration/settlement of customer advances |
$ |
3,345 |
$ |
7,798 |
$ |
7,605 | |||
|
Litigation settlement proceeds |
- |
854 | 1,495 | ||||||
|
Split-dollar life insurance proceeds |
2,263 |
- |
- |
||||||
|
All other, net |
(239) | (1,531) | 35 | ||||||
|
Total other income, net |
$ |
5,369 |
$ |
7,121 |
$ |
9,135 | |||
During 2013 we recognized proceeds of $2.3 million in the settlement of a split-dollar life insurance policy for a former senior executive.
During 2013, 2012 and 2011, we recognized income of $3.3 million, $7.8 million and $7.6 million, respectively, in connection with certain retained liabilities that have terminated, associated with customer advances for construction from our disposed water properties.
During 2012 and 2011, we recognized $0.9 million and $1.5 million, respectively, in settlement proceeds related to litigation arising from businesses that the Company exited several years ago.