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Other (Loss) Income, Net
 9 Months Ended
Sep. 30, 2016
Other Income and Expenses [Abstract]  
Other (Loss) Income, Net
Other (Loss) Income, Net 
 
Three Months Ended
Nine Months Ended
 
September 30,
September 30,
 
2016
2015
2016
2015
Royalty income
$
27

$
27

$
108

$
91

Interest income
31

33

74

98

Equity in earnings of affiliates, net
22

1

60

19

Net gain on sales of businesses and other assets1
—

43

384

74

Net exchange (losses) gains
(76
)
(36
)
(212
)
54

Miscellaneous income and expenses, net2
(20
)
30

(7
)
216

Other (loss) income, net
$
(16
)
$
98

$
407

$
552

 

1. 
Includes a pre-tax gain of $369 ($214 net of tax) for the nine months ended September 30, 2016 related to the sale of DuPont (Shenzhen) Manufacturing Limited. See Note 3 for additional information.
2.  
Miscellaneous income and expenses, net, includes interest items, gains related to litigation settlements, gains/losses on available-for-sale securities 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 nine months ended September 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 (loss) 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
Nine Months Ended
 
September 30,
September 30,
 
2016
2015
2016
2015
Subsidiary Monetary Position Gain (Loss)
 
 
 
 
Pre-tax exchange gain (loss)
$
6

$
(210
)
$
185

$
(381
)
Local tax benefits (expenses)
18

67

(29
)
(17
)
Net after-tax impact from subsidiary exchange gain (loss)
24

(143
)
156

(398
)
 
 
 
 
 
Hedging Program Gain (Loss)
 
 
 
 
Pre-tax exchange (loss) gain
(82
)
174

(397
)
435

Tax benefits (expenses)
30

(63
)
143

(157
)
Net after-tax impact from hedging program exchange (loss) gain
(52
)
111

(254
)
278

 
 
 
 
 
Total Exchange Gain (Loss)
 
 
 
 
Pre-tax exchange (loss) gain
(76
)
(36
)
(212
)
54

Tax benefits (expenses)
48

4

114

(174
)
Net after-tax exchange loss
$
(28
)
$
(32
)
$
(98
)
$
(120
)