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Other Income (Loss)
 9 Months Ended
Sep. 30, 2013
Other Income (Loss)

11. Other Income (Loss)

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

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2013

 

  

2012

 

 

2013

 

  

2012

 

Gain on fair value of prior equity interest of CIML             

$

—

 

 

$

  26,563

 

 

$

—

  

  

$

  26,563

 

Realized gains on sales of marketable securities (Note 6)             

 

—

  

  

 

  106

  

 

 

  23

  

  

 

  1,552

  

Gain on sale of GoIndustry (Note 6)             

 

—

  

  

 

  2,908

  

 

 

—

  

  

 

  2,908

 

Gains on sales/distributions of ownership interests             

 

—

  

  

 

  1,704

  

 

 

—

  

  

 

  1,924

  

Other             

 

  6

 

  

 

(55

)  

 

 

(120

)

  

 

(94

) 

 

 

  6

 

  

 

  31,226

  

 

 

(97

)

  

 

  32,853

  

Total other income (loss) for consolidated core businesses             

 

(74

)  

  

 

(4

) 

 

 

(81

)

  

 

(4

) 

 

$

(68

)  

  

$

  31,222

  

 

$

(178

)

  

$

  32,849

  

On July 11, 2012, ICG acquired additional equity interests in CIML and began to consolidate the financial position and results of CIML as of that date. In conjunction with the fair value determination of ICG’s previous equity interest in CIML, ICG recorded a gain of $26.6 million, representing the excess of ICG’s portion of the value of CIML over its carrying value from its previous equity interest as an equity method business at the date of consolidation. The primary valuation technique used to measure the acquisition date fair value of CIML immediately before the acquisition was the backsolve option-pricing method.

During the three and nine months ended September 30, 2012, ICG recorded a gain of $1.7 million related to the receipt of 12,989 shares of ICE, based on the closing stock price of ICE common stock on the day it was released from escrow. That gain is included in the line item “Gains on sales/distributions of ownership interests” in the table above. See Note 6, “Equity and Cost Method Businesses” for details regarding the subsequent sale of the ICE common stock. During the nine months ended September 30, 2012, ICG recorded a gain of $0.2 million related to cash received from escrow in connection with the disposition of Metastorm Inc.