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Other Income (Expense)
 12 Months Ended
Dec. 31, 2013
Other Income and Expenses [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)
 
2013
 
2012
 
2011
Gain on sale of land at Libbey Holland
 
$
—

 
$
—

 
$
3,445

Gain on sale of Traex assets (1)
 
—

 
—

 
3,418

Gain (loss) on currency translation
 
(293
)
 
(780
)
 
(263
)
Hedge ineffectiveness
 
(916
)
 
265

 
284

Insurance recovery on furnace malfunction, net (see note 18)
 
3,922

 
—

 
—

Other non-operating income (expense)
 
1,012

 
703

 
1,147

Other income (expense)
 
$
3,725

 
$
188

 
$
8,031

_________________________
(1)
On April 28, 2011, we sold substantially all of the assets of Traex to the Vollrath Company for $12.5 million, resulting in a gain of $3.4 million.