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Other Expense
 12 Months Ended
Dec. 31, 2012
Other Expense  
Other Expense

15. Other Expense

        Other expense for the year ended December 31, 2012 included the following:

  • •
    The Company recorded charges totaling $168 million for restructuring, asset impairment and related charges. See Note 8 for additional information.

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    During the fourth quarter of 2012, the Company recorded a gain of $61 million related to cash received from the Chinese government as compensation for land in China that the Company was required to return to the government.

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    During the fourth quarter of 2012, the Company recorded a charge of $155 million to increase the accrual for estimated future asbestos-related costs as a result of the findings from the annual review of asbestos-related liabilities. See Note 12 for additional information.

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    Aggregate foreign currency exchange losses included in other expense were $8 million in 2012.

        Other expense for the year ended December 31, 2011 included the following:

  • •
    The Company recorded charges totaling $95 million for restructuring, asset impairment and related charges. See Note 8 for additional information.

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    The Company recorded charges totaling $17 million for asset impairment, primarily due to the write down of asset values related to a 2010 acquisition in China as a result of integration challenges. The Company wrote down the value of these assets to the extent their carrying amounts exceeded fair value. The Company classified the significant assumptions used to determine the fair value of the impaired assets, which was not material, as Level 3 in the fair value hierarchy.

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    The Company recorded a goodwill impairment charge of $641 million related to its Asia Pacific segment. See Note 5 for additional information.

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    During the fourth quarter of 2011, the Company recorded a charge of $165 million to increase the accrual for estimated future asbestos-related costs as a result of the findings from the annual review of asbestos-related liabilities. See Note 12 for additional information.

    •
    Aggregate foreign currency exchange losses included in other expense were $6 million in 2011.

        Other expense for the year ended December 31, 2010 included the following:

  • •
    The Company recorded charges totaling $13 million for restructuring, asset impairment and related charges. See Note 8 for additional information.

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    The Company recorded charges of $12 million for acquisition-related fair value inventory adjustments. This charge was due to the accounting rules requiring inventory purchased in a business combination to be marked up to fair value, and then recorded as an increase to cost of goods sold as the inventory is sold. The Company also recorded charges of $20 million for acquisition-related restructuring, transaction and financing costs.

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    During the fourth quarter of 2010, the Company recorded a charge of $170 million to increase the accrual for estimated future asbestos-related costs as a result of the findings from the annual review of asbestos-related liabilities. See Note 12 for additional information.

    •
    Aggregate foreign currency exchange losses included in other expense were $3 million in 2010.