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Other (Income) Expenses, Net
 6 Months Ended
Jun. 30, 2011
Other (Income) Expenses, Net  
Other (Income) Expenses, Net

I. Other (Income) Expenses, Net

 

     Second quarter ended
June  30,		     Six months ended
June  30,		  
     2011     2010     2011     2010  

Equity income

    $ (22 )    $ (5 )    $ (26 )    $ (8 ) 

Interest income

      (5 )      (5 )      (11 )      (9 ) 

Foreign currency (gains) losses, net

      (9 )      5        (30 )      2   

Net loss from asset sales

      —          2        1        —     

Net (gain) loss on mark-to-market derivative contracts (P)

      (18 )      (30 )      (27 )      14   

Other, net

      4        17        15        6   
                                
   $ (50 )    $ (16 )    $ (78 )    $ 5   
                                

In the second quarter and six-month period of 2011, equity income included higher earnings from an investment in a natural gas pipeline in Australia due to the recognition of a discrete income tax benefit by the consortium (Alcoa World Alumina and Chemicals' share of the benefit was $24).