Part of the settlement agreement was that the amount would not be disclosed. I believe media estimates were around $20 Million.
As for the balcony incident, it looked to me that Jackson was going to do an "unveiling" of the child. He had a towel over its head. He probably intended to introduce the child to his fans. In order to get maximum visibility, he put the kid out into space. Not the clearest of thinking, that's for sure.
I'm sure he knows he screwed up. But I've seen a lot of parents do equally and much more hazardous things with their kids.
I still don't think the kid was in any serious danger. It was stupid, and there was a one in a million chance of the kid getting dropped, yes. But this is a definite overreaction because it was Jacko, IMO.