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Other Income, Net
 6 Months Ended
Jun. 30, 2016
Other Income and Expenses [Abstract]  
Other Income, Net
Other Income, Net 
 
Three Months Ended
Six Months Ended
 
June 30,
June 30,
 
2016
2015
2016
2015
Royalty income
$
24

$
30

$
81

$
64

Interest income
27

40

43

65

Equity in earnings of affiliates, net
28

14

38

18

Net gain on sales of businesses and other assets1
11

26

384

31

Net exchange (losses) gains2
(15
)
11

(136
)
90

Miscellaneous income and expenses, net3
(24
)
134

13

186

Other income, net
$
51

$
255

$
423

$
454

 

1. 
Includes a pre-tax gain of $369 ($214 net of tax) for the six months ended June 30, 2016 related to the sale of DuPont (Shenzhen) Manufacturing Limited. See Note 3 for additional information.
2. 
The $90 net exchange gain for the six months ended June 30, 2015, includes a net $(32) pre-tax exchange loss associated with the devaluation of the Ukrainian hryvnia.
3.  
Miscellaneous income and expenses, net, includes interest items, certain insurance recoveries and gains related to litigation settlements and other items.

The following table summarizes the impacts of the company's foreign currency hedging program on the company's results of operations for the three and six months ended June 30, 2016 and 2015. The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The hedging program gains (losses) are largely taxable (tax deductible) in the U.S., whereas the offsetting exchange gains (losses) on the re-measurement of certain net monetary asset positions are not taxable (tax deductible) in their local jurisdictions. The net pre-tax exchange gains (losses) are recorded in other income, net and the related tax impact is recorded in provision for income taxes on continuing operations in the interim Consolidated Income Statements.
 
Three Months Ended
Six Months Ended
 
June 30,
June 30,
 
2016
2015
2016
2015
Subsidiary Monetary Position Gain (Loss)
 
 
 
 
Pre-tax exchange gain (loss)1
$
146

$
29

$
179

$
(171
)
Local tax (expenses) benefits
(60
)
25

(47
)
(84
)
Net after-tax impact from subsidiary exchange gain (loss)
86

54

132

(255
)
 
 
 
 
 
Hedging Program Gain (Loss)
 
 
 
 
Pre-tax exchange (loss) gain
(161
)
(18
)
(315
)
261

Tax benefits (expenses)
58

6

113

(94
)
Net after-tax impact from hedging program exchange (loss) gain
(103
)
(12
)
(202
)
167

 
 
 
 
 
Total Exchange Gain (Loss)
 
 
 
 
Pre-tax exchange (loss) gain
(15
)
11

(136
)
90

Tax (expenses) benefits
(2
)
31

66

(178
)
Net after-tax exchange (loss) gain
$
(17
)
$
42

$
(70
)
$
(88
)

1. 
Excludes equity affiliates.