4	Dispositions and Other Income /(Expense)

Miramax

On December 3, 2010, the Company sold Miramax Film NY, LLC (Miramax) for $663 million. Net proceeds which reflect closing adjustments, the settlement of related claims and obligations and Miramax’s cash balance at closing were $532 million, resulting in a pre-tax gain of $64 million, which is reported in “Other income /(expense), net” in the fiscal 2011 Consolidated Statement of Income. The book value of Miramax included $217 million of allocated goodwill that is not deductible for tax purposes. Accordingly, tax expense recorded in connection with the transaction was approximately $103 million resulting in a loss of $39 million after tax.

Other Dispositions

The following dispositions occurred during fiscal 2011 and 2010:

•

On November 1, 2010, the Company sold its interest in Bass LLC for $5 million, resulting in a pre-tax gain of $11 million

•

On May 12, 2010, the Company sold the rights and assets related to the Power Rangers property for $65 million, resulting in a pre-tax gain of $43 million

•

On January 27, 2010, the Company sold its investment in a pay television service in Europe for $78 million, resulting in a pre-tax gain of $48 million

•

On November 25, 2009, the Company sold its investment in a television service in Europe for $37 million, resulting in a pre-tax gain of $27 million

These gains are reported in “Other income /(expense), net” in the Consolidated Statements of Income.

Other income /(expense)

Other income /(expense) is as follows:


	2012		2011		2010
Gain related to the acquisition of UTV	$	184	$	—	$	—
Lehman recovery		79		—		—
DLP debt charge		(24)		—		—
Gain on sale of Miramax		—		64		—
Gain on sale of Bass		—		11		—
Gain on sales of investments in television services in Europe		—		—		75
Gain on sale of Power Rangers property		—		—		43
Gain related to the acquisition of The Disney Store Japan		—		—		22

Other income /(expense), net	$	239	$	75	$	140