Other Income (Loss)

9 Months Ended

Sep. 30, 2011

Other Income (Loss) [Abstract]

Other Income (Loss)

10. Other Income (Loss)

Other Income (Loss), net

Other income (loss), net consists of the effect of transactions and other events relating to ICG's ownership interests in its companies and its operations in general.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
	(in thousands)
Gain on sale of Metastorm (Note 5)	$	—		$	—		$	24,853		$	—
Loss on sale of ClickEquations (Note 5)		—			—			(803	)		—
Realized gains on marketable securities, net of hedge termination costs of $0.2 million		—			9,155			—			66,952
Unrealized gain (loss) on mark-to-market of hedges (Note 6)		—			(185	)		—			547
Gain on sale of Creditex		—			—			—			5,089
Gains on sales/distributions of ownership interests		36			—			567			1,836
Dilution gain (loss) on equity method companies		23			—			496			(67	)
Gains on other distributions		—			—			1,424			—
Other		(20	)		8			(33	)		22
		39			8,978			26,504			74,379
Total other income (loss) for consolidated core companies		(413	)		218			(320	)		(260	)
	$	(374	)	$	9,196		$	26,184		$	74,119

Marketable securities represent ICG's holdings in publicly-traded equity securities accounted for as available-for-sale securities. At September 30, 2011 and December 31, 2010, ICG did not hold interests in any marketable securities. ICG held a noncontrolling interest in Blackboard throughout the three and nine months ended September 30, 2010. During the three and nine months ended September 30, 2010, ICG sold 250,000 shares and 1,619,571 shares, respectively, of Blackboard common stock at average prices per share of $38.00 and $42.87, respectively. ICG received proceeds of $9.5 million and $69.4 million during the three and nine months ended September 30, 2010, respectively, and recognized a gain on the sale of these securities in the amount of $9.1 million and $67.0 million in those respective periods; those gains are included in the line item "Realized gains on marketable securities, net of hedge termination costs of $0.2 million" in the table above.

During the nine months ended September 30, 2010, 47,056 shares of ICE common stock were released from an escrow account that had been established as part of ICE's acquisition of Creditex Group, Inc. ("Creditex"); ICG had accounted for its equity ownership interest in Creditex under the cost method of accounting. The aggregate value of these shares of common stock, based on the stock's closing price on the respective dates these shares were released to ICG, was $5.1 million. ICG recorded a gain during the nine months ended September 30, 2010 of $5.1 million, which is reflected in the line item "Gain on sale of Creditex" in the table above. ICG sold the newly-acquired shares for aggregate proceeds of $5.2 million and, accordingly, recorded an incremental gain on the sale of $0.1 million during the nine-month period ended September 30, 2010, which is included in the line item "Realized gains on marketable securities, net of hedge termination costs of $0.2 million" in the table above.

During the three months ended September 30, 2011, ICG received a final distribution of funds of less than $0.1 million, which related to a former equity method company. Additionally, during the nine months ended September 30, 2011, ICG received a distribution of $0.5 million of previously escrowed funds, which related to a sale of ICG's equity holdings in a former cost method company. During the nine months ended September 30, 2010, ICG received $1.8 million of escrow releases in connection with the prior disposition of its ownership interests in certain other companies. These amounts are recorded as gains in the respective periods, and are included in the line item "Gains on sales/distributions of ownership interests" in the table above.

Amounts included in the line item "Dilution gain (loss) on equity method companies" for the nine months ended September 30, 2011 in the table above primarily relate to the dilution gain of $0.5 million due to the change in ICG's equity ownership in Channel Intelligence as a result of the sale of substantially all the assets of ClickEquations to Channel Intelligence on June 14, 2011. See Note 5, "Ownership Interests."

During the nine months ended September 30, 2011, ICG received a distribution from Anthem in the amount of $1.4 million. This amount was recorded as a gain and is included in the line item "Gains on other distributions" in the table above.

During the three- and nine-month period ended September 30, 2011, ICG Commerce recorded foreign currency losses of $0.4 million and $0.3 million related to changes in exchange rates associated with its operations in the United Kingdom, Europe, Asia and South America. During the three and nine months ended September 30, 2010, ICG Commerce recorded foreign currency gains of $0.2 million and foreign currency losses of $0.3 million, respectively, related to changes in exchange rates associated with its operations in the United Kingdom, Europe, Asia and South America. These foreign currency gains and losses, which include the mark-to-market adjustments related to the average rate currency options utilized by ICG Commerce (see Note 6, "Financial Instruments"), comprise the majority of the other income (loss) for ICG's consolidated core companies included in the table above.