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OTHER INCOME (EXPENSE), NET
 3 Months Ended
Mar. 31, 2016
Other Income and Expenses [Abstract]  
Other Income (Expense), Net
OTHER INCOME (EXPENSE), NET
The specific components of “Other income (expense), net” are as follows:
 
 
Three Months Ended
 
 
March 31
 
 
2016
 
2015
Loss on sale of equity method investment(a)
 
$
—

 
$
(11
)
Gain on sale of assets
 
9

 
4

Foreign currency exchange
 
(2
)
 
1

Third-party royalty income
 
2

 
2

Legal separation costs
 
—

 
(2
)
Financing charges
 
(3
)
 
(2
)
Other
 
4

 
5

 
 
$
10

 
$
(3
)
(a) See Note 11. Investment in Nonconsolidated Affiliates, for further details.


In the three months ended March 31, 2016, the other income (expense), net included the recognition of a $9 million gain related to the sale of real estate made in a prior year. The gain and receipt of the proceeds was contingent upon the property's redevelopment by the buyer.