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Other Income (Expense)
 12 Months Ended
Dec. 31, 2011
Other Income [Abstract]  
Other Income (Expense)
Other Income (Expense)
Items included in other income (expense) in the Consolidated Statements of Operations are as follows:
Year ended December 31,
(dollars in thousands)
2011
 
2010
 
2009
Gain on sale of land at Libbey Holland
$
3,445

 
$
—

 
$
—

Gain on sale of Traex assets (1)
3,418

 
—

 
—

 (Loss) gain on currency translation
(263
)
 
137

 
2,766

Hedge ineffectiveness
284

 
(855
)
 
(155
)
Other non-operating income
1,147

 
444

 
1,442

Other income (expense)
$
8,031

 
$
(274
)
 
$
4,053

___________________
(1)
On April 28, 2011, we sold substantially all of the assets of Traex (now known as Dane Holding Co.) to the Vollrath Company for $12.5 million, resulting in a gain of $3.4 million.