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Other (Income) Expense - Net
 6 Months Ended
Dec. 31, 2012
Other (Income) Expense - Net [Abstract]  
Other (Income) Expense - Net

 

Note 13.     Other (Income) Expense – Net 

 

The following table sets forth the items in other (income) expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended

 

Year Ended

(In millions)

 

December 31

 

June 30

 

 

2012

 

2011

 

 

2012

 

 

2011

 

 

2010

 

 

 

 

 

(Unaudited

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on Golden Peanut revaluation

 

$

 -

 

$

 -

 

$

 -

 

$
(71)

 

$

-

Gain on interest in GrainCorp

 

 
(62)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Gain on sale of assets

 

 
(51)

 

 
(17)

 

 
(30)

 

 
(31)

 

 
(21)

Charges from early extinguishment of debt

 

 
5 

 

 
12 

 

 
12 

 

 
15 

 

 
75 

(Gains) losses on interest rate swaps

 

 

 -

 

 

 -

 

 

 -

 

 
(30)

 

 
59 

Net (gain) loss on marketable securities transactions

 

 
(6)

 

 
(16)

 

 
(25)

 

 
(12)

 

 
6 

Other – net

 

 
5 

 

 
9 

 

 
26 

 

 
(1)

 

 
6 

 

 

$
(109)

 

$
(12)

 

$
(17)

 

$
(130)

 

$
125 

 

 

The Company realized a $62 million gain related to the settlement of the Total Return Swap instruments related to its investment in GrainCorp (see Note 4 for more information).

 

The gain on sale of assets for the six months ended December 31, 2012 includes a $39 million gain related to the sale of certain of the Company’s exchange membership interests.

 

The $71 million gain on Golden Peanut revaluation was recognized as a result of revaluing the Company’s previously held investment in Golden Peanut in conjunction with the acquisition of the remaining 50 percent interest (“Golden Peanut Gain”).  

 

Realized gains on sales of available-for-sale marketable securities totaled $8 million, $17 million, $38 million, $13 million, and $12 million for the six months ended December 31, 2012 and 2011 and the years ended June 30, 2012, 2011, and 2010, respectively.  Realized losses on sales of available-for-sale marketable securities were $2 million, $1 million, $1 million, $1 million, and $3 million for the six months ended December 31, 2012 and 2011 and the years ended June 30, 2012, 2011, and 2010, respectively.  Impairment losses on securities were $12 million and $15 million for the years ended June 30, 2012 and 2010.  Additional impairment losses on securities of $13 million for the six months ended December 31, 2011 and year ended June 30, 2012, were classified as asset impairment, exit, and restructuring charges in the consolidated statements of earnings.