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Other (Income) Expense - Net
 9 Months Ended
Sep. 30, 2014
Other Income and Expenses [Abstract]  
Other (Income) Expense - Net
Other (Income) Expense - Net

The following tables set forth the items in other (income) expense:

 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2014
 
2013
 
2014
 
2013
 
(In millions)
 
 
 
 
 
 
 
 
Gains on sales of assets
$
(163
)
 
$
(6
)
 
$
(197
)
 
$
(27
)
Net gain on marketable securities transactions
—

 
(2
)
 
—

 
(7
)
Loss (Gain) on foreign exchange hedges
102

 
(26
)
 
102

 
25

Other – net
5

 
(1
)
 
19

 
(1
)
Other (Income) Expense - Net
$
(56
)
 
$
(35
)
 
$
(76
)
 
$
(10
)


Gains on sales of assets for the three and nine months ended September 30, 2014 includes a gain of $156 million upon the Company's effective dilution in the Pacificor (formerly Kalama Export Company) joint venture, resulting from the contribution of additional assets by another member in exchange for new equity units. The transaction occurred on September 30, 2014, and the gain was determined on a preliminary basis subject to a final valuation which will be completed in the fourth quarter of 2014.

The loss on foreign exchange hedges for the three and nine months ended September 30, 2014 was due to losses on Euro foreign currency derivative contracts entered into to economically hedge the anticipated Wild Flavors acquisition (see Note 15). The loss (gain) on foreign exchange hedges for the three and nine months ended September 30, 2013 was due to losses (gains) on Australian dollar foreign currency derivative contracts entered into to economically hedge the proposed GrainCorp Limited (GrainCorp) acquisition.