XML 29 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other, Net
6 Months Ended
Jun. 30, 2013
Other Net [Abstract]  
Other, Net
Other, Net
The components of Other, net for the three and six months ended June 30 were as follows:
 
Three months ended
 
Six months ended
In millions
2013

2012
 
2013
 
2012
Interest income
$
2.5

 
$
3.9

 
$
6.0

 
$
8.6

Exchange gain (loss)
(6.8
)
 
(1.0
)
 
(13.7
)
 
(2.8
)
Earnings (loss) from equity investments
1.7

 
(0.8
)
 
(2.5
)
 
(6.0
)
Other
0.9

 
2.0

 
1.4

 
4.1

Other, net
$
(1.7
)
 
$
4.1

 
$
(8.8
)
 
$
3.9


Included within Earnings (loss) from equity investments for the three months ended June 30, 2013 and 2012 is $1.7 million of income and $0.8 million of losses on the Hussmann equity investment, respectively. Included within Earnings (loss) from equity investments for the six months ended June 30, 2013 and 2012 is $2.5 million and $6.0 million of equity losses on the Hussmann equity investment, respectively. The Company's ownership percentage in Hussmann Parent, an affiliate of private equity firm Clayton Dubilier & Rice, LLC, was 37.2% as of June 30, 2013 and is recorded using the equity method of accounting.  The Company's equity investment in the Hussmann Parent is reported within Other noncurrent assets.
Effective February 13, 2013, the government of Venezuela announced a devaluation of the Bolivar, from the pre-existing exchange rate of 4.29 Bolivars to the U.S. dollar to 6.3 Bolivars to the U.S. dollar. As a result of the devaluation, the Company realized a foreign currency translation loss of approximately $10.0 million, which is included in Exchange gain (loss) for the six months ended June 30, 2013.