XML 152 R12.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Other Income and Expense
 12 Months Ended
Dec. 31, 2019
Other Income and Expenses [Abstract]  
Other Income and Expense
Our other income (expense) classification primarily includes gains and losses associated with activities not directly related to our operations. For instance, aggregate unrealized and realized foreign exchange gains and losses resulting from remeasurement and settlement of foreign-denominated monetary assets and liabilities, as well as certain gains or losses on sales of non-operating assets and the mark-to-market activity associated with warrants are classified in this line item. These gains and losses are reported in the operating segment in which they occur; however, foreign exchange gains and losses on intercompany balances related to financing and other treasury-related activities are reported within the Corporate segment. The initial recording of foreign-denominated transactions are classified based on the nature of the transaction, with the unrealized or realized foreign exchange gains or losses resulting from the subsequent remeasurement of the monetary asset or liability, and its ultimate settlement, classified in other income (expense).
Other Income and Expense
 
For the years ended
 
December 31, 2019
 
December 31, 2018
 
December 31, 2017
 
(In millions)
Gain on sale of non-operating asset
$
—

 
$
11.7

 
$
—

Gain (loss) from other foreign exchange and derivative activity, net
(20.4
)
 
(31.9
)
 
(8.0
)
Other, net(1)
5.7

 
8.2

 
9.4

Other income (expense), net
$
(14.7
)
 
$
(12.0
)
 
$
1.4


(1)
During 2019, we received a payment and recorded a gain of CAD 2.0 million, or $1.5 million, resulting from a purchase price agreement related to the historical sale of Molson Inc.'s ownership interest in the Montreal Canadiens, which is considered an affiliate of MCBC.
During 2018, we recorded a non-cash gain of CAD 5.8 million, or $4.3 million, resulting from the release of our guarantee of the Montreal Canadiens' obligations under a ground lease for the Bell Centre Arena as a result of an independent transaction by the Montreal Canadiens with the lessor.
During 2017, we received payment and recorded a gain of CAD 10.9 million, or $8.3 million, resulting from a purchase price adjustment related to the historical sale of Molson Inc.’s ownership interest in the Montreal Canadiens, an affiliate of MCBC.