XML 84 R35.htm IDEA: XBRL DOCUMENT v2.4.1.9
Other Income and Expense (Tables)
 12 Months Ended
Dec. 31, 2014
Other Income and Expenses [Abstract]  
Summarization of other income and expenses
The table below summarizes other income and expense:
 
For the years ended
 
December 31, 2014
 
December 31, 2013
 
December 29, 2012
 
(In millions)
Gain on sale of non-operating asset(1)
$
—

 
$
23.5

 
$
5.2

Bridge facility fees(2)
—

 
—

 
(13.0
)
Euro currency purchase loss(3)
—

 
—

 
(57.9
)
Gain (loss) from other foreign exchange and derivative activity(4)
(6.6
)
 
(7.8
)
 
(25.2
)
Other, net
0.1

 
3.2

 
0.6

Other income (expense), net
$
(6.5
)
 
$
18.9

 
$
(90.3
)
(1)
In 1991, we became a limited partner in the Colorado Rockies Baseball Club, Ltd. ("the Partnership"), treated as a cost method investment. Effective November 8, 2013, we sold our 14.6% interest in the Partnership and recognized a gain of $22.3 million. We did not make any cash contributions in 2013 or 2012, and cash distributions, recognized within other income, from the Partnership were immaterial in 2013 and 2012.
Additionally, during the first quarter of 2013, we realized a $1.2 million gain for proceeds received related to a non-income-related tax settlement resulting from historical activity within our former investment in the Montreal Canadiens.
Included in this amount is a $5.2 million gain related to the sale of water rights in 2012.
(2)
We incurred costs in connection with the issuance and subsequent termination of the bridge loan agreement entered into concurrent with the announcement of the Acquisition during the second quarter of 2012. See Note 13, "Debt" for further discussion.
(3)
In connection with the Acquisition, we used the proceeds from our issuance of the $1.9 billion senior notes to purchase Euros in the second quarter of 2012. As a result of a negative foreign exchange movement between the Euro and USD prior to using these proceeds to fund the Acquisition, we realized a foreign exchange loss on our Euro cash holdings.
(4)
Included in this amount are gains of $0.5 million and losses of $2.4 million and $23.8 million for 2014, 2013 and 2012, respectively, related to foreign currency movements on foreign-denominated financing instruments entered into in conjunction with the financing and the closing of the Acquisition. Additionally, we recorded a net loss of $4.9 million during 2013, related to foreign cash positions and foreign exchange contracts entered into to hedge our risk associated with the payment of this foreign-denominated debt. See Note 13, "Debt" and Note 17, "Derivative Instruments and Hedging Activities" for further discussion of financing and hedging activities related to the Acquisition. Additionally, we recorded losses of $7.1 million, $0.5 million and $1.4 million related to other foreign exchange and derivative activity during 2014, 2013 and 2012, respectively.